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4 years ago

Managerial accounting is designed to satisfy needs of external users including creditors, investors, and governmental agencies.

Business

2 answers:

baherus [9]4 years ago

7 0

Answer:

B) False

Explanation:

Managerial accounting is designed by management to measure its performance. It usually involves the setting of a target in form of a budget which is then compared and adjusted from time with the actual amounts achieved.

Managerial accounting is where the variances are measured whether favorable of otherwise.

Financial accounting on the other hand is the review of historical financial data that satisfy the needs of external users such as creditors, investors, and governmental agencies.

As such, the right option is B.

Archy [21]4 years ago

4 0

Answer:

(B) False

Explanation:

Managerial accounting, unlike financial accounting designed for external users including creditors, investors, and governmental agencies, is exclusive for the managers of an organization. It helps to provide information about accounting by analysing and communicating financial information to managers for the pursuit of an organization's goals and also helps the management and performance of controlling.

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For each of the following separate transactions: Sold a building costing $32,000, with $20,800 of accumulated depreciation, for

VashaNatasha [74]

Answer:

Sale of building:

journal entry:

cash 8,800 debit

acc dep building 20,800 debit

loss at disposal 2,400 debit

building 32,000 credit

cash generated from investing activities: 8,800

Purchase of Machine

journal entry:

machinery 10,800 debit

note payable 10,800 credit

no cash involve no effect on cash flow statement

issuance of shares:

journal entry:

cash 2,160 debit

common stock 2,160 credit

cash generated from financing activities: 2,160

note payable redemption:

note payable 40,400 debit

loss on redemption 7,400 debit

Cash 7,400 credit

cash used for financing activities: 47,800

Explanation:

Sale of building:

we write-off the assets along with his depreciation and enter the proceed at disposal. We also need to recognzie the gain/loss for the difference:

32,000 - 20,800 = 11,200

procceds (8,800)

result 2,400 loss

cash flow effect: investing activities: 8,800

Purchase of Machine

we record the asset received and the liability issued to get it.

no cash involve no effect on cash flow statement

issuance of shares:

1,080 shares x $2 each = 2,160 this is the amount of the shares and the cash proceeds.

financing for the cash proceeds: 2,160

note payable redemption:

we write-off the liability, we credit the cahs used and recognize the loss.

cash used for financing for 47,800

7 0

3 years ago

How is an online bank different from a retail bank? A. Online bank and retail bank refer to the same entity, so there is no diff

kramer

Answer:

B. An online bank has lower operating costs than a retail bank

8 0

4 years ago

Read 2 more answers

tax-free investments are so called because the interest or other income paid to their owners is federal, and, perhaps, state tax

attashe74 [19]

A tax-exempt mutual fund typically holds municipal bonds and different authorities' securities. This type of fund can offer tax blessings, alongside simplified diversification across special styles of government securities. Before you make investments, recollect how plenty of a go back a tax-exempt fund may additionally provide.

Tax-deferred money owed allows income to develop tax unfastened till you withdraw the cash. Tax-loose method no taxes are imposed on income or withdrawals at any time.

With a tax-deferred investment, you pay federal profits taxes while you withdraw money out of your investment, instead of paying taxes up the front. Any profits your contributions produce while invested also are tax deferred.

Learn more about tax here: brainly.com/question/25783927

#SPJ4

6 0

1 year ago

If Annie and Andy (each a 30 percent shareholder in a calendar-year S corporation) file a revocation statement on March 20, 2019

Natalija [7]

Answer:

January 1, 2020

Explanation:

An S corporation isalso called small business corporation. It is a type of company that shields its owners in the case of liabilities. The owners are not directly liable for obligations of the corporation.

A calenders year of a company is defined as the fiscal year in which a company makes profit and declares a profit or loss within that time frame.

If shareholders file a revocation statement on March 20, 2019, to terminate their S corporation's S election, they will have to wait till the end of the fiscal year before the S corporation is terminated.

That is on January 1, 2020.

8 0

4 years ago

Assume Baldwin Corp. is downsizing the size of their workforce by 15% (to the nearest person) next year from various strategic i

Assoli18 [71]

Answer:

The company will have to pay $5,100 per employee in separation costs if these exit interviews are implemented next year

Explanation:

Data provided in the question:

Percentage downsize in the workforce = 15% = 0.15

Cost of exit interviews = $100

Normal separation cost = $5,000

Now,

Total separation cost per employee = Cost of exit interviews + Normal separation cost

= $100 + $5,000

= $5,100

Therefore,

The company will have to pay $5,100 per employee in separation costs if these exit interviews are implemented next year

3 0

3 years ago