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3 years ago

What is the benefit of the responsibility accounting system?

1 answer:

3 0

Responsibility accounting is a system of which the persons in the supervisory capacity such as the President, Departmental head, foremen ect. are given a routine report showing the performance of the company, department, or section as the case may be.

The report will show the data relating to the operational results of the area and the items of which he is responsible for controlling.

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The following selected accounts from the Bramble Corp.’s general ledger are presented below for the year ended December 31, 2022

allochka39001 [22]

Answer:

$ $

Sales Revenue 2,399,000

Less:

Sales return and allowances 43,000

Sales discount 8,600

2,347,400

Net sales

Cost of goods sold 1,084,000

Gross profit 1,263,400

Operating expenses;

Advertising expense 54,000

Depreciation expense 124,000

Freight out 24,000

Insurance expense 15,000

Salaries and wages expense 674,000

Total operating expense 891,000‬

Income from operation 372,400‬

Other revenue and gains

Interest revenue 32,000

Rent revenue 24,000

56,000

Other expenses and loss

Interest expense 69,000

Income before income taxes 359,400

Income tax expense 69,000

Net income 290,400‬

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3 years ago

How much taxes will be taken out of my paycheck.

natima [27]

Matters where you live. it is different in different places.

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2 years ago

What do employers seek when they are looking for "groupings" of collective skills and knowledge?

RideAnS [48]

Employers look for hard working workers that will get the job done in the smartest most efficient and effective way.

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3 years ago

This year, Gogo Inc. granted a nonqualified stock option to Mrs. Mill to buy 10,000 shares of Gogo stock for $8 per share for fi

Anton [14]

Answer:

Gogo Inc. and Mrs. Mill

The Income that Mrs. Mill must recognize in the year of exercise is:

= $23,100

Explanation:

a) Data and Calculations:

Options given to Mrs. Mill = 10,000 shares of Gogo stock

Exercise price of the options = $8 per share

Period of option exercise = 5 years

Selling price of shares at grant date = $7.87

Selling price of shares at exercise date = $10.31

Compensation expense recorded by Gogo = $26,700

Cost of options to Mrs. Mill = $80,000 (10,000 * $8)

Income that Mrs. Mill must recognize in the year of exercise = $23,100 ($10.31 - $8) * 10,000

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2 years ago

If customer satisfaction does not always lead to customer loyalty, firms may need to focus additional effort on _____ strategies

mihalych1998 [28]

The firms may need to focus additional effort on retention strategies.

Retention strategies are means employed by firms to retain their customers both new and existing, over some specified period.

Where a company has high customer retention, it means customers would continue to patronize the company's products and not not defect to another product or business.

Customer retention process starts with the first point of contact in an organization and spread through the whole duration of the customer's relationship with the organization.

Learn more at: https://brainly.com/question/4310845

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2 years ago