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3 years ago

The following events occurred for Favata Company:_________

Business

1 answer:

Kipish [7]3 years ago

5 0

Answer:

Cash 16500 Dr

Common Stock 16500 Cr

Cash 13500 Dr

Notes Payable 13500 Cr

Equipment account 1450 Dr

Accounts Payable 1450 Cr

Land 25000 Dr

Cash 2300 Cr

Notes Payable 22700 Cr

Equipment account 9500 Dr

Cash 2300 Cr

Accounts Payable 7200 Cr

Explanation:

The issuance of common stock against cash will increase the cash and the capital. So cash will be debited and capital (common stock) will be credited.

The issuance of notes payable against cash increases liability and asset. The asset increase in cash will be debited and liability increase in notes payable will be credited.

The purchase of equipment on account will increase liability and asset. The asset increase in form of equipment will be debited and the liability increase in form of accounts payable will be credited.

The purchase of land will increase land and result in a debit to the land account. It is purchased for cash and a liability of notes payable. So both cash and the notes payable account will be credited as cash decreases (asset decrease in credited) and liability increases (liability increase is credited).

The purchase of equipment will increase equipment account and result in a debit to the equipment account. It is purchased for cash and a liability of accounts payable. So both cash and the accounts payable account will be credited as cash decreases (asset decrease in credited) and liability increases (liability increase is credited).

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Answer:

Government policies can help stabilize the economy.

Economic condition of any economy can be determined by determining its GDP and level of employment in the economy. Government policies like Fiscal or Monetary Policies can help stabilize the economy. If the economy is passing through recession,the expansionary monetary or fiscal policies can be implemented by the government. Government can reduce the CRR and Repo Rate and relaxes taxation policy so that more amount is left with the people to raise their living standards. On the other hand, at the time of prosperity,contractionary monetary or fiscal policies can be used . CRR and Repo Rate can be raised and tight taxation policy leave the public with less disposable income and thus their demands come down.

Increasing productivity leads to economic growth

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Thus we can say that Increasing productivity leads to economic growth.

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3 years ago

A The management of Gresa Inc. is reevaluating the appropriateness of using its present inventory cost flow method, which is ave

Zepler [3.9K]

Answer:

Gresa Inc.

Comparative Condensed Income Statements for 2017

under FIFO and LIFO.

FIFO LIFO

Sales 1176450 1176450

Cost Of Goods Sold 660,400 657, 200

Gross Profit 516050 539,500

Operating Expense $ 150,000 $ 150,000

Income before Tax $ 366,050 $ 389500

Income Tax (30%) $ 109815 $ 116850

Net Income $ 256235 $272650

Working :

Fifo Cost of Goods Sold= $ 10,000 + $168,000 + $ 150,000+ 156,000 + 176,400= 

Lifo Cost of Goods Sold= $ 224,000 + 156,000+ $ 150,000+127,200

Purchases were made quarterly as follows.

Quarter Units Unit Cost Total Cost

1 70,000 $2.40 $168,000

2 60,000 2.50 150,000

3 60,000 2.60 156,000

4 80,000 2.80 224,000

270,000 $698,000

Inventories Beginning (5,000 units) $10,000

Total net sales (253,000 units) $1,176,450

Ending (22,000 units)

Total cost of goods purchased (270,000 units) 698,000

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3 years ago

The osha agency is a part of the

ZanzabumX [31]

United States Department of Labor

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2 years ago

Objectives of financial reporting to external investors and creditors include preparing information about all of the following e

sveta [45]

Answer:

Information used to determine which products to produce

Explanation:

Determination of products whose production is not yet decided is a managerial issue, and it is part of internal information that should be not delivered to external parties. Furthermore, this data usually is not accurate, so sharing outside would not be even recommended for this sole reason.

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3 years ago

Universal Containers' contact center manager needs to measure the following metrics: - Agent productivity - Customer satisfactio

VLD [36.1K]

Answer: Average handle time

First contact resolution

Explanation:

Since the center manager needs to measure the productivity of the agent and the customer satisfaction, the report that should be recommended by a consultant would be the average handle time and the first contact resolution.

The average handle time shows the time taken for a transaction to be completed. This can be used to determine the productivity of agents. Also, first contact resolution can be used to determine customer satisfaction as it shows the number if queries that were successfully resolved.

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2 years ago