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3 years ago

"With a finance degree, you can apply for almost any position available to accounting majors."

Business

1 answer:

nexus9112 [7]3 years ago

3 0

Answer:

False because finance is totally different from management and financial accounting. Finance degree holder can not apply for every as the finance degree holder knows better about financial management not about management accounting or financial accouting. The major fields which a finance degree holder can apply for are accountancy firms, investment and high street banks, insurance firms, management consultancies, etc.

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Grason Corporation is preparing a budgeted balance sheet for 2018. The retained earnings balance at December 31, 2017 was $533,5

olga nikolaevna [1]

Answer:

D. $605,500

Explanation:

The computation of the expected balance in retained earnings on the 2018 is shown below:

The ending balance of retained earning = Beginning balance of retained earnings + net income - dividend paid

= $533,500 + $112,000 - $40,000

= $605,500

We simply applied the above formula so that the ending balance could arrive by considering all the items given in the question

3 0

3 years ago

g Sparky Corporation uses the FIFO method of process costing. The following information is available for February in its Molding

FromTheMoon [43]

Answer:

Total equivalent unit of material = 140,000 units

Explanation:

Equivalent units are used to apportion cost between completed units and work in progress. They represent notional whole units which represent incomplete work.

Under the first in first method , to account for completed units during a production period the opening inventory units are assumed to completed first before newly the newly introduced units.

So we can work out the equivalents units as follows:

Fully worked units :These represent units started this period of production and completed in the same period. This is given as 110,000 units

Equivalent units (EU)

Item unit Workings EU

Opening inventory 25,000 0% × 25,000 = 0

Fully worked 110,000 100% × 110,000 = 110,000

Closing inventory 30,000 100%× 30,000 = 30,000

Total equivalent unit of material 140,000

Note that for the opening inventory already 100% material work has been done the preceding period , so there wont be any work left to be done in respect of materials.

5 0

3 years ago

Which budget or budget type should be used to meet the following needs? a. Upper management is planning for the next five years

Simora [160]

Answer:

a. A Strategic budget will be used by the upper management in planning for the next five years.

b. A flexible budget will be used by a store manager who wants to plan for different levels of sales.

c. A Cash budget will be used by an accountant who wants to determine whether the company has sufficient funds to cover expenses.

a. A Master Budget will be used by a CEO who wants to make companywide plans for the next year.

Explanation:

Strategic budget, is finnancial planing to achieve the long term goals of the company.

flexible budget is used for different level of sales volume.

Cash budget usted for forescast the cash balance.

Master Budget uses a schedule to present financial statements.

4 0

3 years ago

Define black hole.......

larisa [96]

Answer:

hope this helps

Explanation:

A black hole is a place in space where gravity pulls so much that even light can not get out.

8 0

3 years ago

The operations vice president of Security Home Bank has been interested in investigating the efficiency of the bank’s operations

AURORKA [14]

Answer:

The computation of the activity rates for the activity-based costing system is shown below:-

Explanation:

Opening Processing Processing Other Totals

accounts Deposits and other activities

Withdraws Customers

transactions

Teller wages $5,800 $108,750 $26,100 $4,350 $145,000

Assistant

branch

manager

salary $4,800 $6,600 $16,200 $32,400 $60,000

Branch

manager

salary $3,760 $0 $20,680 $69,560 $94,000

$14,360 $115,350 $62,980 $106,310

Working Note

Opening Processing Processing Other

accounts Deposits and other activities

Withdraws Customers

transactions

Teller

wages ($145,000 × 4%) ($145,000 × 75%) ($145,000 × 18%) ($145,000 × 3%)

Assistant

branch

manager

salary ($60,000 × 8%) ($60,000 ×11%) ($60,000 × 27%) ($60,000 × 54%)

Branch

manager

salary ($94,000 × 4%) ($94,000 × 0%) ($94,000 × 22%) ($94,000 × 74%)

Activity Activity cost Cost drivers Activity rate

Opening accounts $14,360 230 $62.43

Processing deposits

and Withdrawals $115,350 51,000 $2.26

Processing other

customers

transactions $62,980 1,150 $54.77

4 0

3 years ago