Record journal entries for the following transactions of Furniture Warehouse.

Danner Company expects to have a cash balance of $58,050 on January 1, 2017. Relevant monthly budget data for the first 2 months

Alina [70]

Answer:

January February

Beginning Cash Balance 58,050 35,475

Add: Receipts

Collections from Customers 109,650 193,500

Sale of Marketable Securities 15,480 0

Total Receipts 125,130 193,500

Total Available Cash 183,180 228,975

Less: Disbursements

Direct Materials 64,500 96,750

Direct Labour 38,700 58,050

Manufacturing Overhead 25,155 30,315

Selling and Administrative 19,350 25,800

Total Disbursements 147,705 210,915

Cash Balance 35,475 18,060

Financing

Add: Borrowings 0 7,740

Less: Repayments 0 0

Ending Cash Balance 35,475 25,800

The company wants to maintain a minimum monthly cash balance of $25,800 so in February they will have to borrow;

= 25,800 - 18,060

= $7,740

8 0

3 years ago

A local restaurant, Farm Fresh Ingredients, has become highly successful through its menu, based solely on organically raised ch

Blizzard [7]

Answer:

d. temporary

Explanation:

Competitive advantage refers to a competitive edge a firm gains over it's competitors by offering better value via it's products or by offering such products at reduced prices.

Competitive advantage results out of a unique or specific methods of production which is more efficient than the competitors and most importantly which cannot be imitated by competitors.

In the given case, the advantage which has accrued is on account of organic method of raising chickens and organic seasonal produce. These advantages are momentarily as, soon other restaurants shall follow suit and gradually these shall disappear.

8 0

2 years ago

Cordell Inc. experienced the following events in 2018, its first year of operation:

Zepler [3.9K]

Answer:

See explanation

Explanation:

See the images to get the result.

7 0

2 years ago

The minimum feasible long-run average cost for firms in a perfectly competitive industry is $27 per unit. If every firm in the

Furkat [3]

Answer: Marginal cost is $27 and market price is $27

Explanation:

In the long run, perfectly competitive industries make zero economic profit. This means therefore that Average cost will be the same as the Market price so Market price will be $27.

Firms in a perfectly competitive industry will produce at a rate where Marginal revenue will equal marginal cost in order to maximise profit.

In a perfectly competitive industry, firms are price takers which means that the Market price is also the same as the Marginal revenue. The Market price will therefore be equal to marginal cost which means that Marginal cost will also be $27.

5 0

3 years ago

An accountant who blows the whistle on financial wrongdoing by his/her employer by going outside the entity violates:

Harman [31]

Confidentiality

What is Confidentiality?

When it comes to sensitive information, confidentiality refers to the idea and practice of keeping it secret until the owner or data custodian explicitly consents to sharing it with another party. Another definition of confidentiality is the request to uphold the rule and custom.

Owners and custodians of sensitive data create policies defining the categories of information that require protection in order to preserve confidentiality. On the basis of it, they specify a number of procedures for the environments, tools, and people engaged in data handling and storage. These include educating and training staff members and the clients they serve, investing in and maintaining the buildings, equipment, and software where data resides and travels, tracking the movements of sensitive data, and planning and implementing data loss prevention (DLP).

Learn more about Confidentiality with the help of given link:-

brainly.com/question/16853444

#SPJ4

5 0

1 year ago