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4 years ago

What are the 4 steps of the closing process for a merchandising company?

1 answer:

4 0

The four steps of the closing process for merchandising company are:
1) Close revenue account to income summary
2) Close expense account to income summary
3) Close income summary to retained earnings
4) Close dividends to retained earnings

These steps are important to making sure the businesses finances are accurately recorded.

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Total fixed costs for taylor incorporated are $240,000. total costs, including both fixed and variable, are $500,000 if $125,000

lana66690 [7]

A variable cost is a corporate expenditure that fluctuates in proportion with manufacture output. Variable costs increase or decrease reliant on a company's manufacture volume; they rise as manufacture increases and fall as manufacture decreases.
Cost equation y = vx + f

$500,000 = 125,000x + 240,000

260,000 = 125,000x

$2.08 = x

6 0

4 years ago

Formaggio Vecchio announced its regular quarterly cash dividend of $0.20 per share. Currently there are one million shares outst

aleksandr82 [10.1K]

Answer:

A.On Ex-dividend date: November 20, 2006

B.1%

C.$0.19

D. $1.82

Explanation:

1.On Ex-dividend date: November 20, 2006

will the stock price change to reflect the value of the dividend

b. Calculation for Formaggio’s dividend yield

Using this formula

Dividend yield = dividend/share price

Let plug in the formula

= .20/20 = 1%

c. Calculation of how much the stock price is likely to fall

0.20*(1 – 15%) = P*(1 – 10%)

Solve for P = $0.19

d. Calculation of How much is the stock price likely to fall Suppose that the company decides to issue a 10% stock dividend instead of a cash dividend.

$1,000,000 + (1,000,000 * 10%)

$1,000,00+$100,000

= 1,100,000 total shares

Hence,

$20,000,000 / 1,100,000 = $18.18 per share

$20 – 18.18 = $1.82 fall

5 0

4 years ago

The primary function of "Institutional Review Boards" and other similar groups is to:____________.

3241004551 [841]

Answer: 3. decide whether to approve or disapprove research studies involving the use of human participants.

Explanation:

Under FDA regulations, an Institutional Review Board is a group convened with the authority to review and monitor biomedical research involving human beings as subjects.

The IRB has the authority to approve, require modifications in (to secure approval), or disapprove research and this serves a very important role in the rights and welfare protection of human research subjects.

4 0

4 years ago

A large computer manufacturer forbids its executives and managers from serving as directors or officers for Intel Corporation or

posledela

Answer:

Conflict of interest(COI)

Explanation:

The large computer manufacturing company is trying to prevent a conflict of interest.

Conflict of interest(COI): This occurs when an individual is occupying two different social position at the same time in which different benefits are attached to each social roles. It can disrupt the decision-making process of an individual which could lead to loss of integrity.

Conflict of interest arises when an individual has competing obligations because of their duties to more than one person or organization simultaneously.

An individual is subject to two coexisting interests that are in direct conflict with each other.

Conflict of interest can also involve an organization. It could be a case in which an individual or organization performs two different roles simultaneously, and performing an obligation could involve working against another.

A person or organization with conflict of interest can't be 'just' in their decision making.

5 0

3 years ago

The specific identification method of costing inventories is used when the company sells large quantities of relatively low-cost

Mila [183]

Answer:

company sells a limited quantity of high-unit cost items.

Explanation:

A specific identification method can be defined as a method used for determining the ending inventories cost.

Basically, this type of method for costing inventories typically involves doing a well-detailed physical count of each goods bought on a specific date or a particular period of time, so as to determine the exact number of goods remaining by the end of the year's inventory. Therefore, each of the goods purchased are tagged with their unit price and any other additional charges.

Hence, the specific identification method of costing inventories is used when the company sells a limited quantity of high-unit cost items.

7 0

3 years ago