Answer:
first I will journalize the adjustments:
a. Received a $510 utility bill for electricity usage in July to be paid in August.
Dr Utilities expense 510
Cr Accounts payable 510
b. Owed wages to 15 employees who worked two days at $55 each per day at the end of July. The company will pay employees at the end of the first week of August.
Dr Wages expense 1,650
Cr Wages payable 1,650
c. On July 1, loaned money to an employee who agreed to repay the loan in one year along with $660 for one full year of interest. No interest has been recorded yet.
Dr Interest receivable 660
Cr Interest revenue 660
effects on the accounting equation:
Assets = Liabilities + Equity
a. 0 510 -510
b. 0 1,650 -1,650
<u>c. 660 0 660</u>
660 2,160 -1,500
Revenue - Expenses = Net income Cash flow
a. 0 510 -510 0 OA
b. 0 1,650 -1,650 0 OA
<u>c. 660 0 660 0 OA</u>
660 2,160 -1,500 0 NC
Answer:
The Balanced Scorecard for Management Control
Dana's company can deploy the Balanced Scorecard as a strategic management control approach which views organizational performance from four broad perspectives that are all-embracing. These perspectives include the Financial Perspective, the Customer Perspective, the Internal Business-Process Perspective, and the Learning and Growth Perspective. The aim is to ensure that control is not just about one aspect of the organization, but the whole, and a balance is struck by paying equal attention to the elements that make up an organization.
According to a well-known adage, "what you measure is what you get." The BSC approach strategically and holistically measures an organization's performance by identifying all the factors that cause improved organizational outcomes. Therefore, the benefits of using a balanced scorecard include improved internal capacity created by a focus on improving an organization's learning and growth through the Learning and Growth perspective. This cascades to improved internal processes which result from the internal perspective. With improved processes, customers and other stakeholders derive better and maximum satisfaction from the organization. This does not end here. Satisfied customers cause improved financial results, which are distributed to an organization's stakeholders, including the government in form of taxation, dividends for stockholders, and better pay for employees, etc. These stakeholders in turn try to add value to the organization with better processes and operations, improved financing, and business opportunities.
Looking at the value package of BSC, I agree with Dana that the BSC approach is better than using only financial controls alone. While financial controls are at the very core of resource management and operational efficiency in any organization, they do not represent the whole picture of management control. They are the endgames and not the starting strategies for a winning organization.
Explanation:
The Balanced Scorecard (BSC) utilizes a 360 degree approach to achieve effective control of resources toward attaining goals by viewing organizational performance from four broad perspectives, which cover all aspects of any organization. The four perspectives that BSC uses are the Financial Perspective, the Customer Perspective, the Internal Business- Process Perspective, and the Learning and Growth Perspective. By approaching performance evaluation and management with these perspectives, the Balanced Scorecard is able to achieve all-round management control because no aspect of the organization is left behind.
Answer: Core customer value
Explanation:
Core customer value could be seen as focusing on customers who basically buy your product and what can be done to keep them or improve services for them. Most manufactures are on the lookout on what their customers really want and how they can give it to them in a great manner which would also be affordable. Customers are gold, hence, when not treated well they can be lost to another manufacturer considering the competition of the market. Core customer value focuses on what better can the manufacturer offer the customer.
Explanation:
The given question cannot be answered as little information is provided. However it shall be an amount if $21,580,000. For, complete analysis we need to understand the current prices and various other variable costs. We know that the contribution margin is the Sale Price (SP) minus the Variable Cost (VC). It is the number of sales per unit that will be available to service fixed expenses and to generate the profit.
Therefore, to determine a more detailed answers more inputs are needed.
<u>Solution and Explanation:</u>
The correct answer is I, II, III, and IV
The reason behind is that joint cost is always related to the multifarious products. Joint expense is the assembling cost brought about on a joint creation process which takes regular sources of info however at the same time delivers various items called joint-items, for example, preparing of raw petroleum at the same time yields gas, diesel, stream fuel, greases and different items.
So, as to apportion expenses to such joint items, bookkeepers need to utilize an appropriate cost portion technique on a predictable premise. The joint cost alludes to that cost which is brought about before the split-off point on the creation or assembling of numerous items, by expending similar data sources or factors of creation.
