An assumption of CVP analysis is that all costs can be classified as either variable or fixed. true or false

Which account would be listed on a post-closing trial balance?

Elis [28]

Answer: c. Retained Earnings

Explanation:

The post-closing trial balance reflects balance sheet items that do not have a $0 balance in them when a period has ended and is prepared after the temporary accounts have been closed off. The purpose is to make sure that the debits equal the credits.

As there are no temporary accounts, all income statement items will have been closed off and moved to the Retained earnings account which will reflect the total for the income statement for the year. The only account that will be listed in the post-closing trial balance therefore will be the Retained earnings account.

7 0

3 years ago

An investment offers a total return of 15 percent over the coming year. Janet Jello thinks the total real return on this investm

Sonbull [250]

Answer:

6.78%

Explanation:

Data provided in the question:

Total return i.e nominal rate = 15% = 0.15

Real return = 7.7% = 0.077

Now,

Inflation rate = $\frac{\textup{1 + Nominal rate}}{\textup{1 + Real return }}$ - 1

on substituting the respective values, we get

Inflation rate = $\frac{\textup{1 + 0.15}}{\textup{1 + 0.077}}$ - 1

or

Inflation rate = [ 1.15 ÷ 1.077 ] - 1

or

Inflation rate = 0.0678

or

Inflation rate = 0.0678 × 100% = 6.78%

6 0

3 years ago

Cullumber, Inc., management expects the company to earn cash flows of $12,900, $16,300, $18,600, and $19,800 over the next four

maxonik [38]

Answer:

Total= $77,153

Explanation:

Giving the following information:

Cullumber, Inc., management expects the company to earn cash flows of $12,900, $16,300, $18,600, and $19,800 over the next four years.

The discount rate is 10%.

To calculate the future value, we need to use the following formula for each cash flow:

FV= PV*(1+i)^n

Cf1= 12,900*1.1^3= 17,169.9

Cf2= 16,300*1.1^2= 19,723

Cf3= 18,600*1.1= 20,460

Cf4= 19,800

Total= $77,153

8 0

3 years ago

Champion manufactures winter fleece jackets for sale in the United States. Demand for jackets during the season is normally dist

m_a_m_a [10]

Answer:

The question puts

Mean demand to be 20000

Standard deviation to be 10000

Storage cost = 60-30= 30

Excess cost to be 30+5-25 = 10

For shipping to south america

Excess cost = 30+5+5-35 = 5 dollars

A.

It is of more benefits to ship to south america because we have an excess cost of 5 dollars and excess clearance cost of 10 dollars

B.

Production and profitability are high for south america. Please check attachment for the calculations I added

C.

Number of units

27142-20000

= 7142 units.

5 0

3 years ago

et sales $ 1,825,000 Expenses: Cost of goods sold $ 1,060,000 Operating expenses 570,000 Depreciation expense 51,000 Income tax

Ugo [173]

Answer:

PEACH COMPUTER

Statement of Cash Flows for the year ended December 31, 2021

(Operating Activities only)

Net income $ 103,000

Depreciation expense 51,000

Changes in working capital:

Accounts receivable 4,400

Inventory -20,500

Prepaid rent 2,100

Accounts payable 8,500

Income tax payable -5,400

Net cash flows from

operating activities $143,100

Explanation:

a) Data and Calculations:

Sales revenue $1,825,000

Expenses: Cost of goods sold $ 1,060,000

Operating expenses 570,000

Depreciation expense 51,000

Income tax expense 41,000

Total expenses 1,722,000

Net income $ 103,000

PEACH COMPUTER

Selected Balance Sheet Data

December 31 2021 2020

2021 2020 Increase (I) or Decrease (D)

Cash $ 103,000 $ 85,500 $ 17,500 (I)

Accounts receivable 45,100 49,500 4,400 (D)

Inventory 76,000 55,500 20,500 (I)

Prepaid rent 3,100 5,200 2,100 (D)

Accounts payable 46,000 37,500 8,500 (I)

Income tax payable 5,100 10,500 5,400 (D)

3 0

3 years ago