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andrew-mc [135]
3 years ago
15

Which of the following tasks in the AFIstrategy framework involves putting the formulated strategy into practice through organiz

ational structure, culture, and controls?
A. strategy formulation
B.strategy implementation
C. strategy analysis
D. strategy evaluation
Business
1 answer:
ahrayia [7]3 years ago
3 0

Answer:

The answer is B.strategy implementation

Explanation:

Implementation involves putting the formulated strategy ; organizational design, structure, culture, control

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You are offered a chance to buy an asset for $4,500 that is expected to produce cash flows of $750 at the end of year 1, $1,000
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5 0
3 years ago
Companies can and often do use different costing methods for financial reporting and tax reporting. An exception to this is the:
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LIFO conformity rule.

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7 0
3 years ago
The unadjusted trial balance of PS Music as of July 31, 2016, along with the adjustment data for the two months ended July 31, 2
Masja [62]

Answer:

PS Music

1. End of Period Spreadsheet

13 Income Summary (Temporary accounts)

14 Fees Earned                      21,200.00

15 Wages Expense                 2,940.00

16 Office Rent Expense         2,550.00

17 Equipment Rent  Expense  1,375.00

18 Utilities Expense                 1,215.00

19 Music Expense                  3,610.00

20 Advertising Expense       1,500.00

21 Supplies Expense               925.00

22 Insurance Expense           225.00

23 Depreciation Expense        50.00

24 Miscellaneous Expense 1,855.00

Statement of Retained Earnings (Temporary accounts)

11 Retained Earnings

12 Dividends                       1,750.00

Balance Sheet (Permanent accounts)

1 Cash                                       9,945.00

2 Accounts Receivable            4,150.00

3 Supplies                                   275.00

4 Prepaid Insurance                2,475.00

5 Office Equipment                 7,500.00

6 Accumulated Depreciation

-Office Equipment                                          50.00

7 Accounts Payable                                  8,350.00

8 Wages Payable                                          140.00

9 Unearned Revenue                              3,600.00

10 Common Stock                                   9,000.00

11 Retained Earnings

2. PS Music

Income Statement for the year ended July 31, 2016

14 Fees Earned                                        $21,200.00

15 Wages Expense               $2,940.00

16 Office Rent Expense         2,550.00

17 Equipment Rent  Expense  1,375.00

18 Utilities Expense                 1,215.00

19 Music Expense                  3,610.00

20 Advertising Expense       1,500.00

21 Supplies Expense               925.00

22 Insurance Expense           225.00

23 Depreciation Expense        50.00

24 Miscellaneous Expense 1,855.00   $16,245.00

Net income                                             $4,955.00

Statement of Retained Earnings for the year ended July 31, 2016

11 Retained Earnings

Net income                      $4,955.00

12 Dividends                       1,750.00

Retained Earnings          $3,205.00

Balance Sheet as of July 31, 2016

1 Cash                                       9,945.00

2 Accounts Receivable            4,150.00

3 Supplies                                   275.00

4 Prepaid Insurance                2,475.00

Current assets                                            $16,845.00

5 Office Equipment                 7,500.00

6 Accumulated Depreciation       (50.00)    $7,450.00

Total assets                                               $24,295.00

Liabilities

7 Accounts Payable                8,350.00

8 Wages Payable                        140.00

9 Unearned Revenue            3,600.00   $12,090.00

10 Common Stock                 9,000.00

11 Retained Earnings             3,205.00    $12,275.00

Total liabilities and equity                       $24,295.00

3. A. Closing Journal Entries:

14 Debit Fees Earned $21,200.00

13 Credit Income Summary $21,200.00

To close the Fees Earned to Income Summary.

13 Debit Income Summary $16,245.00

Credit:

15 Wages Expense                 2,940.00

16 Office Rent Expense         2,550.00

17 Equipment Rent  Expense  1,375.00

18 Utilities Expense                 1,215.00

19 Music Expense                  3,610.00

20 Advertising Expense       1,500.00

21 Supplies Expense               925.00

22 Insurance Expense           225.00

23 Depreciation Expense        50.00

24 Miscellaneous Expense 1,855.00

To close the expenses to the Income Summary.

13 Debit Income Summary $4,955.00

11 Credit Retained Earnings $4,955.00

To close the net income to retained earnings.

11 Debit Retained Earnings $1,750.00

12 Credit Dividends $1,750.00

To close the dividends to retained earnings.

B. Posting the closing entries:

14 Fees Earned

ACCOUNT TITLE                         DEBIT    CREDIT

Balance                                                    21,200.00

Income Summary                 21,200.00

15 Wages Expense

ACCOUNT TITLE                         DEBIT    CREDIT

Balance                                   2,940.00

Income Summary                                       2,940.00

16 Office Rent Expense

ACCOUNT TITLE                         DEBIT    CREDIT

Balance                                   2,550.00

Income Summary                                       2,550.00

17 Equipment Rent  Expense

ACCOUNT TITLE                         DEBIT    CREDIT

Balance                                   1,375.00

Income Summary                                       1,375.00

18 Utilities Expense

ACCOUNT TITLE                         DEBIT    CREDIT

Balance                                   1,215.00

Income Summary                                       1,215.00

19 Music Expense

ACCOUNT TITLE                         DEBIT    CREDIT

Balance                                   3,610.00

Income Summary                                       3,610.00

20 Advertising Expense

ACCOUNT TITLE                         DEBIT    CREDIT

Balance                                   1,500.00

Income Summary                                       1,500.00

21 Supplies Expense

ACCOUNT TITLE                         DEBIT    CREDIT

Balance                                       925.00

Income Summary                                        925.00

22 Insurance Expense

ACCOUNT TITLE                         DEBIT    CREDIT

Balance                                      225.00

Income Summary                                       225.00

23 Depreciation Expense

ACCOUNT TITLE                         DEBIT    CREDIT

Balance                                         50.00

Income Summary                                       50.00

24 Miscellaneous Expense

ACCOUNT TITLE                         DEBIT    CREDIT

Balance                                     1,855.00

Income Summary                                      1,855.00

11 Retained Earnings

ACCOUNT TITLE                         DEBIT    CREDIT

Income Summary                                    4,955.00

Dividends                                 1,750.00

Balance                                   3,205.00

12 Dividends

ACCOUNT TITLE                         DEBIT    CREDIT

Balance                                   1,750.00

11 Retained Earnings                               1,750.00

4. Post-Closing Trial Balance

August 1, 2016

ACCOUNT TITLE                         DEBIT    CREDIT

1 Cash                                       9,945.00

2 Accounts Receivable            4,150.00

3 Supplies                                   275.00

4 Prepaid Insurance                2,475.00

5 Office Equipment                 7,500.00

6 Accumulated Depreciation

-Office Equipment                                          50.00

7 Accounts Payable                                  8,350.00

8 Wages Payable                                          140.00

9 Unearned Revenue                              3,600.00

10 Common Stock                                   9,000.00

11 Retained Earnings                               3,205.00

Total                                    24,345.00 24,345.00

Explanation:

a) Data and Calculations:

PS Music

ADJUSTED TRIAL BALANCE

July 31, 2016

ACCOUNT TITLE                         DEBIT    CREDIT

1 Cash                                       9,945.00

2 Accounts Receivable            4,150.00

3 Supplies                                   275.00

4 Prepaid Insurance                2,475.00

5 Office Equipment                 7,500.00

6 Accumulated Depreciation

-Office Equipment                                          50.00

7 Accounts Payable                                  8,350.00

8 Wages Payable                                          140.00

9 Unearned Revenue                              3,600.00

10 Common Stock                                   9,000.00

11 Retained Earnings

12 Dividends                            1,750.00

13 Income Summary

14 Fees Earned                                     21,200.00

15 Wages Expense                 2,940.00

16 Office Rent Expense         2,550.00

17 Equipment Rent  Expense  1,375.00

18 Utilities Expense                 1,215.00

19 Music Expense                  3,610.00

20 Advertising Expense       1,500.00

21 Supplies Expense              925.00

22 Insurance Expense           225.00

23 Depreciation Expense        50.00

24 Miscellaneous Expense 1,855.00

25 Totals                           42,340.00 42,340.00

4 0
3 years ago
Ben Lieber is a waiter at Harbor House, where he receives a weekly wage of $80 plus tips for a 40-hour workweek. Lieber's weekly
Dmitriy789 [7]

Answer:

$290

Explanation:

Fair labour standards act is a Federal law that specifies minimum wage, overtime pay eligibility, child labour standards, and record keeping which affects employees of both private and government institutions.

The Fair labour standards act state that the minimum wage an employee should collect per hour is $7.25.

So for a 40 hour week the minimum wage for Ben Lieber is 7.25* 40= $290

Provisions for FLSA include minimum wage payment, exemption from overtime, minimum wage for workers that provide companionship services, and exemption for worker that do computer related jobs.

4 0
3 years ago
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