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3 years ago

10

Wyman corporation uses a process costing system. the company manufactured certain goods at a cost of $920 and sold them on credi

t to percy corporation for $1,315. the complete journal entry to be made by wyman at the time of this sale is:

1 answer:

Simora [160]3 years ago

6 0

I really have no clue

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Which two investment options would be best if you are 20 years old, just starting to save, and want to retire when you are 70? C

nadezda [96]

Answer:

You have not provided any options. However, since this is more of a practical question, the suitable answers are,

Mutual Funds
Certificate of Deposits
High yield bearing Bonds

Explanation:

Mutual funds are a wonderful option to track the share market without exposing yourself to too much market risk. A mutual fund holds a diversified portfolio of stocks that distributes risk among various companies from different industries.

That way, even if the market is poorly performing, as a whole, the fund will be stable. Moreover, in the long term, since you have 50 years until you are 70, compounding your dividends will make you a lot of money to retire.

Besides, mutual funds have a high liquidity, making it easier for you to withdraw your money.

Certificate of Deposits are virtually risk free and provides a descent income through the high interest rates.

The main benefit here is the compounding effect of the interest. Since 50 years is a long time frame, even if you start small, you can eventually end up with a hefty sum to help your retirement. Because the compounding effect will be highly effective in the long term.

7 0

3 years ago

A company discovered in 2013 that it had overstated the inventory balance for Dec 31, 2011 by $10,000. The company had (incorrec

kompoz [17]

Answer:

Corrected Net Income for 2011 = $290,000

Corrected Net Income for 2012 = $410,000

Explanation:

Data provided in the question:

The overstated the inventory balance for Dec 31, 2011 = $10,000

The reported Net Income for 2011 = $300,000

The reported Net Income for 2012 = $400,000

Now,

Since the inventory is overstated in the year 2011, it will be subtracted from the reported incorrect Net Income for 2011

Thus,

Corrected Net Income for 2011 = $300,000 - $10,000

= $290,000

And, for the year 2012 the overstated inventory will be added to the reported Net Income for 2012

thus,

Corrected Net Income for 2012 = $400,000 + $10,000

= $410,000

7 0

4 years ago

Assume General Motors has decided to build an assembly plant in St. Louis. The plant will employ 1,000 full-time workers at an a

garik1379 [7]

Answer:

$80 million

Explanation:

The total income received by the plant's employees during the year will be $40 million (= 1,000 employees x $40,000 per employee). Since their propensity to consume is 2/3, they the employees will spend $26.67 million and save $13.3 million.

The money multiplier can be calculated using the formula: money multiplier = 1 / (1 - MPC) = 1 / (1 - 0.67) = 1 / 0.33 = 3

To determine the total income effect in St. Louis we have to multiply the money spent times the money multiplier = $26.67 million x 3 = $80 million

5 0

4 years ago

Unlike savings accounts, banks expect people to make frequent withdrawals and deposits to checking accounts.

storchak [24]

I’m pretty sure it’s false!

8 0

3 years ago

Read 2 more answers

A worker was just hit by a forklift. The scene is safe and you begin to assess the worker. You see that she is conscious and

user100 [1]

Answer:

Make sure the injury isn't severe. Call 911 and keep making sure they are breathing normally. If not, give them CPR until an ambulance comes. Try not to move them too much and keep them calm.

6 0

2 years ago