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3 years ago

Accounting question, please help

Business

1 answer:

dangina [55]3 years ago

8 0

Answer:

Accrual basis.

Explanation:

The accrual basis of accounting refers to the accounting method where by revenues are recognized on the profit and loss statement when they are realized and not when the money is received.

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Adrian is one of several engineers applying for a job recently advertised on the internet. While writing his email cover letter,

umka2103 [35]

Adrian is one of several engineers applying for a job recently advertised on the internet. While writing his email cover letter, adrian should identify the position applied for in the project line.

In an email while applying for any job, jobseeker should use the job title as the subject line, so that the employer get to know what position the jobseekers are interested in.

That helps the busy hiring managers who are recruiting for multiple positions to see at a glance which job jobseeker are applying for.

Mentioning the job title which is also helpful in the case there is an automated filter that categorizes the hiring manager’s email. With the right subject line, jobseeker will be sure that his application is placed in the appropriate folder to be seen in a timely manner.

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7 0

1 year ago

Which of the following is a lasting impact resulting from 20th-century banking reforms in the United States

tresset_1 [31]

The lasting impact resulting from 20th-century banking reforms in the United States is "the reforms approved the Board to determine reserve requirements and interest rates for deposits at member bank."

The banking reforms made in the 20th century in the United States are many, and many of these reforms are still applicable today.

Some of the lasting effects of these reforms include the following:

The Board of Governors to determine the monetary policy.

The reforms established the Federal Deposit Insurance Corporation.

The reforms also separate commercial banks from investment banks.

Hence, in this case, it is concluded that the many banking reforms made in the 20th century still exist today.

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7 0

2 years ago

You want to invest $24,000 and are looking for safe investment options. Your bank is offering you a certificate of deposit that

lys-0071 [83]

Answer:

6.14%

Explanation:

The offered investment has a nominal rate (N) of 6% compounded quarterly (n=4 times a year). The effective rate of return (R) is obtained by:

$R = (1+\frac{N}{n})^n-1\\R = (1+\frac{0.06}{4})^4-1\\R=0.0614=6.14\%$

The effective rate of return that you will earn from this investment is 6.14%.

*Note that the amount invested is not relevant when determining the effective rate of return, which means that the rate would be the same for any amount.

4 0

3 years ago

Financial Statements of a Manufacturing Firm The following events took place for Sorensen Manufacturing Company during January,

wolverine [178]

Answer:

A. $185,000

B. Raw material $70,000

Work in process $50,000

Finished goods $85,000

Explanation:

A. Preparation of the January income statement for Sorensen Manufacturing Company

Sorensen Manufacturing Company

Income statement

Sales $1,200,000

Cost of goods sold $675,000

Gross profit $525,000

Operating expense

Selling expense $215,000

Administrative expense $125,000

Total operating expense $340,000

($215,000+$125,000)

Operating income $185,000

($525,000-$340,000)

B. Calculation to Determine the inventory balances at the end of the first month of operations.

Sorensen Manufacturing Company

Inventory Balances For the Month Ended January 31

Raw material =$250,000-$180,000

Raw material =$70,000

Work in process =$180,000+$450,000+$180,000-$760,000

Work in process =$50,000

Finished goods =$760,000-$675,000

Finished goods=$85,000

7 0

3 years ago

Interest expense is not:

Veseljchak [2.6K]

Answer:

The correct answer is letter "C": Likely to fluctuate when sales change.

Explanation:

Interest Expense is the cost of borrowing money. Usually, interest is paid on a credit card for some form of debt through a bank loan, mortgage, credit line or outstanding balance. The amount charged is equal to the interest rate times the outstanding balance. Interest payments are reported on an income statement as non-operating expenses.

<em>Sales changes do not influence the interest expense.</em>

7 0

3 years ago