Answer:
The correct answer is B
Explanation:
The journal entry which is to be recorded for the service revenue at the end of May is as follows:
Unearned Revenue A/c..............Dr $5,333
Service RevenueA/c...........Cr $5,333.
Working Note:
Revenue = Total amount × Number of months / Total months
where
Amount is $8,000
Number of months means at the end of May which is a 2nd month
Total months is 3 months (April, May and June)
= $8,000 × 2 / 3
= $5,333
Answer:
True
Explanation:
The reason is that the opening inventory value of year 2 is the closing amount of the year 1. Its similar to the closing cash amount left in till at the end of year 1 is the opening amount at the year 2. So the opening inventory of year 2 is closing inventory of year 1. This means the closing inventory of year 1 has decreased by $10,000.
As we know that:
Cost of goods sold = Op. Inventory + Purchases - Cl. Inventory
This means if the closing amount increases the cost of goods decreases and in the given scenario the closing inventory of year 1 has been decreased which means that the cost of goods sold has increased which will decrease the profit. And if the profit decreases then:
Earning per share = Profit after tax (Decreased) / Number of share (Same)
As the profit has decreased the earning per share will also decrease.
Answer:
Sales revenue 392,500
Sales returns and allowances (20,000)
Sales discounts <u> (8,600) </u>
Net Sales: 363,900
COGS (221,000)
Gross Profit 142,900
Freight-out (9,700)
Salaries and wages expense (63,400)
Rent expense (33,500)
Insurance expense <u> (14,600) </u>
Earnings before taxes 21,700
Income tax expense <u> (4,900) </u>
Operating income 16,800
OCI <u> 2,000 </u>
Net Income 18,800
Explanation:
First we solve for net sales.
Then we subtract COGS for Gross profit.
THen we subtract hte expenses and get hte earnings before taxes.
Next the inome tax expense and operationg income
then we put htis along with OCI for thenet income of the period.
Answer:
The organization structure is not clearly defined, Managers are performing duties in various departments at a time.
Explanation:
San Consulting is one of the finest consulting firm in the Greater Accra Region. The firm is always a first choice for individuals who want to pursue their career in business. The Organizational structure of San Consulting is not clearly defined. San's profits are falling because management practices are not according to the other competitive organizations. The managers working at San are facing excess workload and pressure for their work. Their job descriptions is not clearly defined and they are forced to work in multiple departments at the same time due to which they are losing focus on their own work.
Questions 1: Planning, organizing, leading and controlling
Question 2: The organizational structure needs to be set and every employee should have their defined job role so they are able to complete work with efficiency.
Question 3: The profits of San consulting will rise as there will be less duplication of work and every employee will be able to focus on their own task and will work with efficiency.
Question 4: Matrix. The matrix organizational structure is not suited in this organization. The right organizational structure for San consulting will be Functional Structure.
Question 5: (i) The profits for San Consulting will decline
(ii) The profit will rise because employee will focus more on their specific tasks.
1B. Yes agree. The managers need to focus on the external environment as well to identify the opportunities and threats present which can stimulate changes for the organization.
<u>Answer:</u>
<em>The </em><em>executives programming enables associations</em><em> to set up representative execution guidelines and empowers chiefs to assess a worker's activity execution in </em><em>connection to these measures.</em>
<u>Explanation:</u>
Organizations use execution the <em>board programming to encourage important </em>and progressing exchanges among chiefs and direct reports.
The executives programming is most regularly actualized by <em>HR offices to help chief level staff </em>all through different offices assess representatives, direct worker execution surveys, keep up a record of dialog points, and encourage <em>360-degree criticism.</em>
