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3 years ago

Impact of 2020 lockdown on world's business economy?

1 answer:

6 0

Many businesses have been forced to reduce operations or shut down, and an increasing number of people are expected to lose their jobs.
Companies in the services industry, a major source of growth to many economies, were among the hardest hit in the coronavirus pandemic.
Manufacturers have also been hit, and world trade volume could once again plummet this year.
“Lockdown,” brought much of global economic activity to a halt, hurting businesses and causing people to lose their jobs.

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Giorgio Italian Market bought $11,000 worth of merchandise from Food Suppliers and signed a 45-day, 8% promissory note for the $

Masja [62]

Answer:

Dr. Cr.

Purchases / Inventory $11,000

Promissory Note Payable $11,000

Explanation:

Promissory note is a signed document which contains a written promise for payment of stated amount to specific person or bond holder on demand or specified date.

In this case the purchases are made and a promissory note of $11,000 is signed for 45 days at 8% annual rate.

This entry will be recorded as the purchases or Inventory are debited and as promissory note is a short term liability so, promissory note payable is credited resulting increase in inventory as well increase in current liability.

5 0

3 years ago

Jessica wants to set up a manufacturing unit, so she meets with Rachel, a human resource manager at her company. Rachel explains

stiv31 [10]

In other to be able to conduct a work flow analysis and defines the outputs of the process, she needs to defines the type of products that will need to be manufactured.

<h3>What is used to define the products?</h3>

In a firm, the product mission is a statement that contains a clear and concise idea of its product's purpose.

In conclusion, she needs to defines the type of products that will need to be manufactured.

Read more about product mission

<em>brainly.com/question/1687404</em>

6 0

2 years ago

Join im boredddddddddddddddd

DIA [1.3K]

Explanation:

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3 years ago

Swift Oil Company is considering investing in a new oil well. It is expected that the oil well will increase annual revenues by

Simora [160]

Answer: 25%

Explanation:

The annual rate of return is calculated by simply dividing the Annual income by the average investment.

Annual Income

Annual revenues of $133,500

Annual expenses of $76,000

Annual Income = Revenues - Expenses

Annual Income = $57,500

Average Investment

Calculated by dividing the Addition of the beginning and ending (salvage value) Investment figure by 2.

= (449,000+11,000)/2

= $230,000

Annual Rate of return is therefore,

= 57,500/230,000

= 0.25

= 25%

5 0

3 years ago

Use the following information for Shafer Company to compute inventory turnover for year 2.

julsineya [31]

Answer:

4.90

Explanation:

Given: Year 2 year 1

net sales: $652,000 $583,800

Cost of goods sold: $389,400 $360,930

Ending inventory $78,600 $80,280

We know, Inventory turnover= $\frac{Cost\ of\ goods\ sold}{Average\ Inventory}$

First, lets find out the Average inventory.

Average inventory= $\frac{78600+80280}{2}$

∴ Average inventory= $\frac{158880}{2} = 79440$

Hence, Average inventory= is 79440.

Now, finding the inventory turnover for year 2.

Inventory turnover= $\frac{389400}{79440}$

∴ Inventory turnover= 4.90

Hence, Inventory turnover for year 2 is 4.90

4 0

3 years ago

Read 2 more answers