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3 years ago

The following table contains financial information for Trumpeter Inc. before closing entries:

Business

1 answer:

Nataly [62]3 years ago

3 0

Answer:

The accrual of an Expense/Revenue occurs when an entry to the accounting is made one period before the payment it's made, it happens because the transaction it's made at a moment in time but the payment in the future, Example: Electrical consumption, it ocurrs one month before the payment, we must register the liabilities.

With deferral of an expense occurs the opposite, first the payment of service it's made but it's consumed in the future, it's registered as Pay in Advance, for example, insurance, you paid the invoice that cover 6 months from now.

Explanation:

Net Income

Sales $29.700

Salaries Expenses -$4.900

Miscellaneous Expenses -$20.300

=================================

Net Income $4.500

Balance Sheets

Assets

Cash $12.200

Prepaid Rent $3.800

Equipment $66.600

Supplies $6.200

TOTAL ASSETS $88.800

Liabilities

Accounts Payable $4.200

TOTAL LIABILITIES $4.200

Equity

Common Stock $67.400

Retained Earnings $17.200

TOTAL EQUITY $84.600

Dividends $3.600

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Sparks Fireworks manufactures and sells fireworks. Their raw materials used is $71,500. Their beginning raw materials inventory

algol13

Answer:

The correct answer would be, $70500

Explanation:

Raw Material Turnover means what amount of raw materials is used within a specific period of time. So the raw material turnover would be calculated by adding the beginning inventory with the amount of material used within the period, and then the remaining material will be deducted. So the whole calculations are shown as follows:

Beginning Raw Material Inventory: $5000

Raw Material Used: $71500

Ending Raw Material Inventory: $6000

Raw Material Inventory Turnover:

Beginning Inventory + Raw Material Used - Ending Raw Material

= 5000+71500-6000= $70500

7 0

3 years ago

Which two factors are important to consider when choosing a production method?

Hunter-Best [27]

Answer:

-The technology that is available for the market.

- The nature of the products

Explanation:

Latest technology often able to produce larger amount of products with significantly lower time. This will help reduce the overall cost of production in the long run. Business owner need to consider this and calculate whether the initial investment that needed to be made to install the technology will worth the value in the long run.

Nature of the products consisted of all the characteristics that our products process. For example food products tend to not have a long shelf life unlike fashion product. This difference in characteristics influence the type of production method that business owners could implement.

For example, It is impossible for business owners to mass produce produce food products with the expectation that it can maintain their quality in the warehouse, but producer of fashion products could make that expectation.

6 0

3 years ago

Estimate the liquid density (g/cm3) of propane at 298 K and 10 bar. Compare the price per kilogram of propane to the price of re

Deffense [45]

Answer:

Density of propane = 17.8 g/L

Propane is more priced than gasoline

Explanation:

Given:

Temperature, T = 298 K

Pressure, P = 10 bar = 0.987 × 10 = 9.87 atm

now,

Molar mass of propane, M = 44.1 g/mol

From ideal gas law

⇒ PV = nRT

here,

n is the number of moles

R is the ideal gas constant = 0.0821 L.atm/mol.K

also,

Density, D = $\frac{\textup{Mass}}{\textup{Volume(V)}}$

V = $\frac{\textup{Mass}}{\textup{D}}$

and,

nM = mass

thus,

V = $\frac{\textup{nM}}{\textup{D}}$

substituting in the ideal gas relation

we have

P = $\frac{\textup{DRT}}{\textup{M}}$

D = $\frac{\textup{PM}}{\textup{RT}}$

D = $\frac{9.87\times44.1}{0.0821\times298}$

D = 17.8 g/L

Now,

1 gallon = 3.78 Liter

Therefore,

5 gallon = 5 × 3.78 Liter = 18.9 Liter

Thus,

mass of 5 gallon propane = Volume × Density

= 18.9 Liter × 17.8 g/L

= 336.42 g

= 0.336 kg

also it is given that Price of 5 gallon propane i.e 0.336 kg = $30

Therefore,

Price per kg = $\frac{30}{0.336}$

= $89.28

and,

Mass of 5 gallons i.e 18.9 Liter gasoline = Density × Volume

= 0.692 g/cm³ × 18.9 Liter

also,

1 L = 1000 cm³

thus,

= 0.692 g/cm³ × 18.9 × 1000 cm³

= 13078.8 g

= 13.078 kg

Therefore,

Price per kg of gasoline = $\frac{\$30}{13.078}$

= $2.29

hence, propane is more priced than gasoline

4 0

3 years ago

Thomlin Company forecasts that total overhead for the current year will be $11,898,000 with 156,000 total machine hours. Year to

weqwewe [10]

Answer:

Predetermined manufacturing overhead rate= $76.27 per machine hour

Explanation:

Giving the following information:

Thomlin Company forecasts that total overhead for the current year will be $11,898,000 with 156,000 total machine hours.

<u>To calculate the predetermined manufacturing overhead rate we need to use the following formula:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 11,898,000 / 156,000

Predetermined manufacturing overhead rate= $76.27 per machine hour

4 0

3 years ago

List the three generations in the workplace today, and provide at least two characteristics of each generation that affect their

kow [346]

Answer:

(1) Baby boomers born between 1946 to 1964.

Characteristics: They are optimistic and self focused.

(2) Generalization X born between the 1965-1980

Characteristics: They are independent and are knowns as the pioneers of Technological systems.

(3) Generation Y born between 1981 to 1997.

Characteristics: They are known to be Tech dependent and self expressive.

SIMILARITIES

All these groups are similar in terms of their value for independence in the work place, visionary and coaching style of leadership.

DIFFERENCE

Baby boomer created more competition in the work place,they value work over family and are less supportive.

Generation Xers are self reliant,self sufficient and most entrepreneur.

Generation Yers known as digital natives, grew up with the internet.

Explanation: In the work place their are different categories of persons based on their age, this categorization helps organisations to understand how to manage and regulate Relationships between the leaders and the other members of the Organisation.

Understanding the various generations available in a work place is vital to motivation and success of the business entity.

8 0

3 years ago