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3 years ago

IT plays a major role in ensuring the accuracy of financial data. T/F

Business

1 answer:

marysya [2.9K]3 years ago

8 0

Answer: True

Explanation:

Yes, the given statement is true that the IT (information technology) plays an important role for ensuring the financial data accuracy. When settling on business choices, precise money related information is basic.

Large associations commonly have separate department of accounting in the office to do the various function of the accounting , just as accommodate all records, survey the information for exactness, and analysis the information.

It provide the essential data and information and in SEC ( Security and exchange commission) are basically responsible for providing the data and information to the different organization.

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AVprozaik [17]

Answer:

b. $88,204

Explanation:

The computation of the carrying value of the note payable is shown below:

= Present value of the notes + interest

= $120,000 × 0.680583 + ($120,000 × 0.680583 × 8%)

= $81,670 + $6,534

= $88,204

hence, the second option is correct

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3 years ago

The district director of 5 mortgage origination offices staffed by bank associates who cold call potential customers in an attem

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Answer:

Revenue Centre

Explanation:

Revenue Centre is that division or department of the firm which generate or create revenue through sale of the goods and the services. The district director who is managing the 5 mortgage origination offices that is staffed by the bank associates. So, most likely responsible for a revenue centre of the business. And who works for revenue centre is only responsible or accountable for the revenue only.

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3 years ago

You are to receive $500 at the end of one year; $250 at the end of two years; $300 at the end of three years. if the interest ra

Ulleksa [173]

The value is 210 dollars

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3 years ago

(8 points) The following information relates to the Windsor Company.DateEnding Inventory(End-of-Year Prices)PriceIndexDecember 3

ad-work [718]

Answer:

Windsor Company

year Inventory Indexes Inventory Change from prior y

at year prices at base year price

2013 $63,500 100 63,500 -

2014 105,434 119 88,600 25,100

2015 113,446 131 86,600 (2000)

2016 128,792 136 94,700 8,100

2017 118,158 141 83,800 (10,900)

Dollar Value Inventory

Dec 31 , 2013 $63,500 at 1.00 $63,500

Dec 31, 2014 $63,500 at 1.00 $63,500

25,100 * 1.19 29,869

93,369

Dec 31 2015 $63,500*1.00 63,500

23,100*1.19 27,489

90,989

Dec 31, 2016 $63,500*1.00 63,500

23,100*1.19 27,489

8,100*1.36 11,016

102,005

Dec 31 , 2017 $63,500*1.00 63,500

20,300*1.19 24,157

87,657

Explanation:

7 0

3 years ago

Wheeler’s Bike Company manufactures custom racing bicycles. The company uses a job order cost system to determine the cost of ea

Elan Coil [88]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Estimated overhead costs:

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Factory supervisor salaries 140,500

Factory supplies 43,900

Factory property tax 27,750

Total overhead= 271,150

First, we need to determine the estimated direct labor hours for the period:

Factory direct labor= 215,558

Direct labor rate= $12.11

Direct labor hours= 215,558/ 12.11= 17,800 hours

Now, we can calculate the estimated overhead rate:

To calculate the estimated manufacturing overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 271,150/17,800= $15.23 per direct labor hour

2) To apply overhead, we need to use the following formula:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 15.23*18,900= $287,847

6 0

3 years ago