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3 years ago

14

Carmen is having her basement refinished. She notices that the flooring was installed hastily and is uneven. Who should she talk

to about the problem?
architect
general contractor
construction worker
foreman

1 answer:

kicyunya [14]3 years ago

6 0

I think it's the foreman.

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Classify each of the following financial statement items based upon the major balance sheet classifications. select a major bala

seropon [69]

Answer:

Prepaid Advertising - Current Asset

Equipment - Property, Plant, and Equipment

Trademarks - Intangible Assets

Salaries and Wages payable - Current Liabilities

Income Tax payable - Current Liabilities

Retained Earnings - Stockholder's Equity

Account Receivable - Current Assets

Land (Held for future use) - Long term Investment

Patents - Intangible Asset

Bonds Payable - Long term Liability

Common Stock - Stockholder's Equity

Accumulated Depreciation - Property, Plant, and Equipment

Unearned sales revenue - Current Liability

Explanation:

Balance Sheet of a company has different heads under which items are classified according to their nature. The major account heads for classification are Assets, Liabilities and Equity.

Prepaid Advertising and Account receivable are classified as current asset because this is expected to be used within a year.

Equipment is classified as Long term asset under the head, Property, Plant and Equipment. The equipment has estimated useful life more than a year then it is classified as Long term asset.

Trademarks and patents are classified as intangible assets, because they are not physical in nature.

Salaries and Wages payable, Income Tax payable and Unearned sales revenue are classified as Current liabilities. These expenses are due to pay within a year.

Retained Earnings and Common Stock are classified as Stockholders equity. The amount after subtracting all liabilities from total assets is referred to as Stockholder equity.

Accumulated depreciation is deducted from Property, Plant and Assets. This has negative sign and is a contra asset account.

5 0

3 years ago

The yield to maturity on a discount bond is: equal to both the coupon rate and the current yield. equal to the current yield but

dlinn [17]

Answer:

greater than both the current yield and the coupon rate.

Explanation:

A discount bond is a bond that at the point of issuance, it's less than its face or par value.

When a bond is trading for less than its face value in the market, it's known as a discount bond.

The yield to maturity on a discount bond is greater than both the current yield and the coupon rate. This simply means that the coupon rate is usually lower than the yield to maturity of the discount bond.

Additionally, the yield to maturity can be defined as the bond's total rate of return required by the secondary market while the coupon rate is defined as the annual interest of a bond divided by its face value.

For instance, when a bond is issued at a par or face value of $5,000, at maturity the investor would be paid $5,000. But because bonds are being sold before its maturity, it would trade below its face value.

Hence, a bond with the face value of $5,000 could trade for as low as $4,800, thus making it a discount bond.

8 0

3 years ago

An industry with oligopolistic competition faces falling profits and its sales growth is slow. Demand for individual brands has

viva [34]

Answer: (A) Market maturity

Explanation:

The market maturity is one of the stage in the product life cycle where is basically refers to the sales growth where the product sales growth get increased and then suddenly get slows down.

The market maturity stage is basically known as the longest stage in the product life cycle. In this life cycle stage the organization reaches to the highest level during the demand cycle.

Therefore, Option (A) is correct.

8 0

3 years ago

When does a corporation record an increase in Dividends Payable?

Gnoma [55]

Answer:

B. On the declaration date

Explanation:

Dividend payable are usually advised by management but must be ratified by the shareholders (usually in the annual general meeting) for such to be come recognizable in the books. The date of ratification is the declaration date

As such a corporation record an increase in Dividends Payable on the declaration date.

The right option is B. On the declaration date

4 0

3 years ago

Stockmaster Corporation has two manufacturing departments--Forming and Assembly. The company used the following data at the begi

KonstantinChe [14]

Answer:

Explanation:

Forming

Estimated fixed manufacturing overhead $27,000

Estimated variable manufacturing overhead ($1.10*5,000) $5,500

Estimated total manufacturing overhead cost $32,500

Assembly

Estimated fixed manufacturing overhead $10,500

Estimated variable manufacturing overhead ($2.80 × 5,000) 14,000

Estimated total manufacturing overhead cost $24,500

Now we need to add these two numbers ($32,500 + $24,500 = $57,000) in order to identify plantwide predetermined manufacturing overhead rate

Estimated total manufacturing overhead cost $57,000

Estimated total machine hours 10,000

Predetermined overhead rate $5.70 [57,000/10,00]

The overhead applied to Job C:

Overhead applied to job C = Predetermined overhead rate x Machine-hours incurred by C

= $5.70 * (3,400 + 2,000)

= $5.70 x (5,400)

= $30,780

Job C’s manufacturing cost:

Direct materials $11,200

Direct labor cost $21,900

Manufacturing overhead $30,780

Total manufacturing cost $63,880

The selling price for Job C:

Total manufacturing cost $63,880

Markup (40%) 25,552

Selling price $89,432

8 0

3 years ago