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2 years ago

Definition of a mission statement in businesses?

Business

1 answer:

Juli2301 [7.4K]2 years ago

5 0

This is my own definition- I'm not sure if there are options.

But a mission statement is when a business has a goal to where there business is going and what they want to acheive with said goal.

If you have options for the answer, I'd be happy to help in that way too!

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I need help with this question if someone could please help me.

marusya05 [52]

B is the correct answer.

7 0

3 years ago

The financial statements of Georgi Manufacturing Company report net sales of $595,000and accounts receivable of $80,000 and $60,

Elena-2011 [213]

Answer:

43 days

Explanation:

The first step is to calculate the account receivable turnover

= $595,000/($80,000+$60,000)/2

= 595,000/140,000/2

= 595,000/70,000

= 8.5

Therefore the average collection period can be calculated as follows

= 365 /8.5

= 42.9

= 43 days

7 0

2 years ago

(a) Bank of Marienfield started its first day of operations with $150 million in capital. It received a total of $100 million i

Juliette [100K]

Here, we are going to prepare the balance sheet of Bank of Marienfield using the information given in the question..

Formula for Total liabilities is Capital + Checkable deposit + Loan from bank

Given Information

Capital = $150 Million

Checkable deposit = $100 Million

Loan from bank= $50 Million

Total liabilities = $150 Million + $100 Million + $50 Million

Total liabilities = $300 Million

Additional given Information

Commercial loan = $150 Million

Investment in shares = $120 Million

Investment in Treasury bonds = $20 Million

Required reserve = Checkable deposit * Required reserve rate

Required reserve = $100 Million * 10%

Required reserve = $10 Million

Excess reserve = Total liabilities - (Commercial loan + Investment in shares + Investment in Treasury bonds + Required reserve)

Excess reserve = $300 Million - ($150 Million + $120 Million + $20 Million + $10 Million)

Excess reserve = $300 Million - $300 Million

Excess reserve = $0 Million

Balance sheet of Bank of Marienfield.

Assets Amount Liability Amount

Required reserves $10 million Bank capital $150 million

Excess Reserve $0 Checkable deposit $100 million

Commercial loan $150 million Loan from bank $50 million

Investment in shares $120 million

Invest. Treasury bond $20 million

Total $300 million Total $300 million

3 0

3 years ago

At the beginning of 2016, EZ Tech Company's Accounts Receivable balance was $140,000, and the balance in Allowance for Doubtful

meriva

Answer:

EZ Tech Company

Journal Entries:

Debit Cash Account $210,000

Credit Sales Revenue $210,000

To record sale of goods for cash.

Debit Accounts Receivable $840,000

Credit Sales Revenue $840,000

To record sale of goods on account.

Debit Cash Account $670,000

Credit Accounts Receivable $670,000

To record the receipt of cash on account.

Debit Uncollectible Expense $4,000

Credit Accounts Receivable $4,000

To record direct write-off of uncollectibles.

Explanation:

a) Accounts Receivable:

Beginning balance $140,000

Sales on credit 840,000

Cash receipts -670,000

Uncollectible -4,000

Ending balance $306,000

b) The direct write-off of the uncollectible accounts could have also been treated through the Allowance for Doubtful Accounts by debiting the account before crediting it with the Uncollectible Expense account. Since there is no instruction to the contrary, we have used the direct method instead, for simplicity.

3 0

3 years ago

A downfall of the infant-industry argument is that

denis23 [38]

A downfall of the infant-industry argument is that once established, a tariff is politically difficult to remove.
For new industries, it almost impossible for a new startup to compete against a well-established industry unless they have a unique differentiation in their product.

8 0

3 years ago