The plans that must be involved are the strategic planning, the mid level, the low level, the operational planning, the top level planning.
Explanation:
In the strategic planning the company's stakeholders will ask them were they want their company to be in five years
The middle level staff will decide to focus in recruiting the new clients and to increase the productivity and they will find the way to give back to the company
Being a low level employee it is necessary that one must interact with the customers and contribute to the company's performance
In the operational planning it will be difficult to manage the customers meet their day to day needs and satisfy them
A meeting will be held with the top level staff and hence they will be coming up with the new tools of the operational planning
Answer:
The amount of paid-in capital $
Common stocks (22,000 x $2) 44,000
Preferred stocks (1,800 x $120) 216,000
Amount of paid-in capital 260,000
The correct answer is C
Explanation:
The amount of paid-in capital is the total of paid-in capital of common stocks and paid-in capital of preferred stocks. The paid-in capital of each stock is computed as number of stock multiplied by par value of each stock.
Answer:
c. Ending inventory will be lower if Blake uses weighted average than if FIFO were used
Explanation:
To check which answer is correct, we simply evaluate each option step by step.
<u>Option A</u>
Gross margin is the difference between selling price and cost.
Under FIFO gross margin is $14. (32 -18 =14)
Under LIFO gross margin is $13. (32-19 = 13)
Thus statement is incorrect as gross margin is higher if FIFO is used.
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<u>Option B</u>
If FIFO is used, the dollar amount of ending inventory will be $19 as ending inventory will contain product purchased later that is at $19. In contrast, if LIFO is used, the dollar amount of ending inventory will be $18. Thus the statement becomes incorrect that it will be the same.
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<u>Option C</u>
The ending inventory under FIFO is $19.
The ending inventory under LIFO is $18
The endng inventory under AVCO or weighted average will be, 18+19 / 2 = 18.5
Thus the statement is correct as the ending inventory under weighted average $18.5 is lower than ending inventory under FIFO $19. So, C is the correct Answer.
Answer:
a) Journal entries to record the sale on January 2, 2020:
Debit Accounts Receivable with $407,000
Credit Sales Account with $368,500
Credit Deferred Revenue (Installation Fee) with $38,500
Being sales of goods and installation services.
b) Income Statement for 1st Quarter of 2020
Sales - $368,500
Installation Fee - $19,250
Total Income - $387,750
less cost of sales - $320,000
Net Income - $67,750
c) The revenue Shaw should recognize in relation to the sale to Ricard is $387,750 (goods and accrued installation fee). The installation fee to be recognized is for 3 months only.
Explanation:
The installation fee is for 6 months. Therefore, 3 months' worth of fee will be recognized in the income statement ending on March 31, 2020.