As a result of developments in the workplace,

ABC Corporation has noticed the following transactions havent been account for in its income statement for the year ended Decemb

grin007 [14]

Answer:

The proper amount of expenses to be included in the income statement for the year is $6,650

Explanation:

The computation of the expense amount which is included in the income statement is shown below:

= Repair expenses + electricity bill + insurance expense

= $4,650 + $800 + $1,200

= $6,650

The insurance expenses are given for the three months but we have to calculate for the 2 months only

So for two months = $1,800 × 2 ÷ 3 = $1,200

And, the wages are given for the last year which is not included in the income statement as it shows outstanding wages. So, we do not consider it.

5 0

3 years ago

Specifics

bogdanovich [222]

The cost of buying and leasing is: A. buy: 14720; lease: 14996.

<h3>Cost of buying and leasing</h3>

1. Cost of Buying:

Total loan payment= 385× 48 months

Total loan payment= $18,480

Cost of buying = Down Payment + Loan payment + ( Opportunity cost ×Down payment× X term in years ) - Ending loan estimated value

Cost of buying= 2,000 +$18,480 + (2000 × 0. 03× 4 years ) - 6,000

Cost of buying= 2,000 + $18,480+240-6,000

Cost of buying= 14,720

2. Leasing:

Total Lease payment=295× 48 months

Total lease payment= $14,160

Leasing= Total lease payment + End of lease charges + ( Security deposit × Opportunity cost× X term in years))

Leasing= $14,160+ 800 + (300 ×0.03×4)

Leasing= $14,160+ 800 +36

Leasing=14996

Therefore the cost of buying and leasing is: A. buy: 14720; lease: 14996.

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3 0

2 years ago

The balance sheet of Cattleman's Steakhouse shows assets of $85,900 and liabilities of $13,500. The fair value of the assets is

cestrela7 [59]

Answer:

$7,120

Explanation:

Given that,

Assets = $85,900

Liabilities = $13,500

Fair value of assets = $90,500

Fair value of its liabilities = $13,500

Amount paid to acquire all of its assets and liabilities = $84,120

Net assets:

= Fair value of assets - Fair value of its liabilities

= $90,500 - $13,500

= $77,000

Goodwill = Purchase consideration - Net assets

= $84,120 - $77,000

= $7,120

8 0

3 years ago

The concept referring to the rights inherent in a supervisory position to give orders and expect the orders to be obeyed is:____

Snowcat [4.5K]

The concept referring to the rights inherent in a supervisory position to give orders and expect the orders to be obeyed is---- Authority

What is the concept of authority?

Authority can be defined as the legal right of a person or superior to command his subordinates. On the other hand, accountability refers to the duty of an individual to carry out his performance as per the company standards. The direction of the flow of authority is from the superiors to subordinates.

What is authority in a person?

a person who has authority over another person : a person who has the power to give orders or make decisions A child needs a figure of authority in his or her life.

Why is it important to have authority?

Authority can be used to protect our rights to life, liberty, and property. Authority can be used to provide order and security in people's lives. For example, air traffic controllers prevent accidents and provide safety for airplane passengers. Authority can be used to manage conflict peacefully and fairly.

Supervisory position :

Supervisory position means a position in which an employee directs staff members and manages a function, program or support service. Supervisory position means a position, the assigned duties of which include the supervision of a work unit of a department.

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5 0

2 years ago

If a new home can be constructed for $150,000, what is the opportunity cost of federal defense spending, measured in terms of pr

FrozenT [24]

Answer:

4 million houses

Explanation:

Opportunity cost is the forfeited benefit as a result of choosing one option over others. Its value equals the cost of the next best alternative.

The cost of constructing a new home is $150,000. If the Federal Defence has a budget of $600 billion, the opportunity cost of spending that amount will be the equivalent number of units that can be built by the amount.

To calculate the number of units= $600 billion divided by $150,000

= $600,000,000,000/ $150,000

=4,000,000

=4 million units

6 0

4 years ago