Answer:
Rent expense of $2,000
Prepaid rent of $22,000
Explanation:
Since we were told that On November 1,2019 Movers Inc., paid the amount of $24,000 for a 2 years' rent which will start or begin on November 1 which means Movers' year-end financial statements as of December 31,2019 will show:
Rent expense of $2,000
Prepaid rent of $22,000
The rent expense of $2,000 is calculated as
(1÷12*$24,000)=$2,000
The prepaid rent of $22,000 is calculated as
$24,000-$2,000
$22,000
Answer: Primary prevention
Explanation: Primary prevention precedes disease and applies to healthy clients. It is a level of health promotion that is concerned with reducing the incidence and prevalence of diseases. This is achievable because it focuses on preventing the disease before it develops and spreads across the population. Some examples of primary prevention include vaccination, immunization and frequent exercise. The later is what the employer aims to achieve by establishing a physical exercise area in the workplace and encouraging all employees to use it.
<span>First we must determine the cost of goods sold during November. For this we use beginning inventory ($368,000) + purchases ($217,500) - ending inventory ($226,750). This gives us a total cost of goods sold for November of $358,750.
Then, we take the net sales ($1,000,000) minus the cost of goods sold ($358,750) which equals our gross profit of $641,250.
Finally we divide gross profit ($641,250) by net sales ($1,000,000) to determine the gross profit rate to be 64.125%</span>
Answer:
A company comparison should not be made with industry averages if the company does not clearly fit into any one industry.
Explanation:
In Business management, it is important to note that many companies will not clearly fit into any one industry.
Hence, when using industry averages, it is often necessary to use an industry that the firm best fits rather than randomly picking up any industry. Additionally, the analysis of an organization's financial statements would be more meaningful if the results are compared with industry averages and with results of competitors.
Any financial service sought after, should use its best judgment by analyzing and identifying which industry the firm best fits.
