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tankabanditka [31]
3 years ago
14

Accounting Professionals Inc. experienced the following events in 2014, its first year of operation:1. Performed services for $2

0,000 cash.2. Purchased $4,000 of supplies on account.3. A physical count on December 31, 2014, found that there was $1,000 of supplies on hand.RequiredBased on this information alonea.Record the events under an accounting equation. (Enter any decreases to account balances with aminus sign.
Business
1 answer:
Andrews [41]3 years ago
6 0

Answer:

Explanation:

The accounting equation is presented below:

Particulars       Assets   =               Liabilities   =             Stockholders equity  

                        Cash     Supplies          Account payable              Retained earnings

1. Service

Performed       $20,000                                                                    $20,000

2. Supplies

Purchased                       $4,000             $4,000

3. Supplies

Used                              -$3,000                                                         -$3,000

Total               $20,000  $1,000              $4,000                               $17,000

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Sunset Foods relies on a highly centralized functional structure to ensure consistency in the quality and taste of its products
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Answer:

a. By establishing cross-functional teams.

Explanation:

Cross functional teams are the ones in which there are people from different departments. In this people from different departments works on the same common goal as set by the management to be achieved by the organization.

As the company has been working in the centralized functional structure, that means all the major decisions were taken by the executive management personnel, and accordingly the company can even in the establishment of cross functional team, can make this possible.

As all together each department will be working on this, and at the same time the management can keep access to the controls.

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3 years ago
Assume the world market for oil is competitive and that the marginal cost of producing​ (extracting and bringing to​ market) ano
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Answer:

The economic surplus will decrease by $2.20

Explanation:

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3 years ago
What is the purpose of file extensions?
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The current sections of Birmingham Inc.’s balance sheets at December 31, 2019 and 2020, are presented here. Birmingham’s net
jekas [21]

Answer:

Net Income 193,000

Non-monetary terms:

Depreciation expense    25,000

amortization expense       10,000

gain on disposal          <u>     (7,000)   </u>

Adjusted Income            221,000

Change in Working Capital:

Increase in A/R        (27,000)

Decreasein Inv          17,000

Increase in Prepaid   (5,000)

Increase Accrued /P   11,000

Decreasein A/P         (6,000)

Change In Working Capital     (10,000)

From Operating Activities    211,000

Investing

Sale of Equipment  47,000

Financing

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Cash Flow              318,000

Beginning Cash   99,000

Cash Flow           318,000

Ending Cash        417,000

Explanation:

We first remove the non.monetary concetps from the net income.

Then we adjust for the change in working capital which are the incrase and decrease in the current assets and liabilities account

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