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pantera1 [17]
3 years ago
7

Haley is a corporate certified public accountant (CPA) working on a new budget. When she lists the company’s liabilities, which

of the following will she include? Entry field with incorrect answer Computer software Owners’ equity Marketable securities Employees’ wages and salaries
Business
1 answer:
pshichka [43]3 years ago
8 0

Answer:

None of the listed items would fall under the category of a liability

Explanation:

A liability is a present obligation that entails an outflow of economic resources (e.g cash) to settle. For an item to be classified as a liability it must relate to an event that had happened (i.e in the past) and not the future.

Computer software is likely an asset of a company. The payment for same, if not made already, can then be a liability.

Owners' equity is a contribution by the owner to further the business objectives.

Marketable securities are assets of the company, precisely current assets since it is assumed that they can be convertible to cash in a short while.

Employees' wages and salaries are expenses. It is only when they have not been paid as at when due i.e when the performance obligation has been satisfied (e.g workers have worked for a full month to which the salary relates) that it becomes a liability.

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Elegance Bath Products, Inc. (EBP) makes a variety of ceramic sinks and tubs. EBP has just developed a line of sinks and tubs ma
Arlecino [84]

Answer:

C) 410 tubs

Explanation:

the contribution margin for sinks is $70 (= $150 - $80) and the contribution margin for tubs is $150 (= $600 - $450).

the molding equipment has 4,050 hours of capacity per year, so it can produce either 2,025 sinks or 810 tubs.

we can determine what product is more profitable if we determine a contribution margin per molding equipment usage ratio:

  • sink = $70 / 2 hours = $35 per hour
  • tub = $150 / 5 hours = $30 per hour

It is more profitable to produce sinks than tubs, but we can sell only 1,000 sinks per year, so even after we product the 1,000 sinks we will have spare molding equipment capacity which we can use to produce tubs.

The spare molding equipment capacity after producing sinks = 4,050 total hours - 2,000 hours used to produce sinks = 2,050 spare molding hours

We can produce 410 tubs (= 2,050 molding hours / 5 hours per tub)

7 0
3 years ago
A farmer grows wheat, which she sells to a miller for $90. The miller turns the wheat into flour, which she sells to a baker for
Paha777 [63]

Answer:

The correct answer is "$155".

Explanation:

Given:

She sells to miller,

= $90

She sells to baker,

= $145

She sells to consumers,

= $155

Now,

The value added by miller will be:

= 145-90

= 55 ($)

The value added by the baker will be:

= 155-145

= 10 ($)

hence,

The GDP in this economy will be:

= 155 ($)

5 0
2 years ago
Gourmet Shop purchased cash registers on April 1 for $18,000. If this asset has an estimated useful life of five years, what is
algol13

Answer:

$17,400

Explanation:

Given that,

Purchased cash registers on April 1 = $18,000

Estimated useful life of asset = 5 years

Using straight line depreciation method,

Depreciation:

= (Original cost - Salvage cost) ÷ Estimated useful life

= ($18,000 - $0) ÷ 5

= $3,600 per year

Two months depreciation:

= Depreciation per year × (2 ÷ 12)

= $3,600 × (1 ÷ 6)

= $600

Book value of the cash registers on May 31:

= Original cost - Two months depreciation

= $18,000 - $600

= $17,400

7 0
3 years ago
Consider the following vignette. Aboard the cruise ship Royal Majesty, a breakfast diner complains to the waiter that the meal i
Nonamiya [84]

Answer:

The correct answer is: D) unreasonable demands

Explanation:

These are contradictory demands, whether, in themselves, they require the fulfillment of two or more contradictory or inconsistent conditions with each other, whether it is what the person who generates an internal conflict demands, the foreign demand being to go against its own essence, while the other pole is fidelity to it.

In these cases, the irrationality of the demand does not fall on the capacities, but on the being itself. In addition, its origin is always in the environment of the person.

3 0
3 years ago
Read 2 more answers
Use the below information to answer the following question.
lianna [129]

Answer:

$2,253.35

Explanation:

external financing needed = EFN = [(total assets/total sales) x ($ Δ sales)] - [(total current liabilities/total sales) x ($ Δ sales)] - [profit margin x forecasted sales in $ x (1 - dividend payout ratio)]

total assets = $48,900

total sales = $42,700

$ Δ sales = $5,978

current liabilities = $3,650

profit margin = net income / sales = 0.129

forecasted sales = $48,678

dividends payout ratio = dividends / net income = 0.35

EFN = [($48,900/$42,700) x ($5,978)] - [($3,650/$42,700) x ($5,978)] - [0.129 x $48,678 x (1 - 0.35)]

EFN = $6,846 - $511 - $4,081.65 = $2,253.35

7 0
3 years ago
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