Answer:
In forecasting accounts payable, one of the relevant questions is:
What is the cash conversion cycle?
Explanation:
The variables used in computing the cash conversion cycle include accounts receivable days, inventory turnover days, and accounts payable days. Specifically, cash conversion cycle (CCC) is the period in days that it takes the firm to convert cash into inventory, then into sales, and finally back into cash. To gain a good understanding of accounts payable, one should always consider the major inclusive metric.
The level of job that require Johanna to be responsible for setting goals and planning in the company would be : Top-Level ManagerTop level manager consist of Board of directors, president, vice president, General Managers, and senior managers. These people have the credibility to create a planning/decision for the company
:)
Answer:
See explanations below.
Explanation:
1. Yes. Overhead should be applied to job W at year-end. Overhead is applied to every jobs whether or not they are completed at year end.
b. To calculate the amount of overhead to be applied to job W, we need to calculate first the overhead application rate based on direct labor cost through job V.
Direct labor cost. $8,000
Overhead applied $6,000
Overhead rate = [ Overhead applied / Direct labor cost ] × 100
= [6,000/8,000] × 100
= 75%
Overhead to be applied to job W
Direct labor cost $4,000
Overhead rate 75%
Overhead to be applied = $3,000
It therefore means that $3,000 should be applied to job W.
2. Because job W was not completed at the year end, it would then be included in the work in process inventory in the financial statements of Sigma Corporation at year end.
Answer:
$400,000
Explanation:
Since at December 31, Year 5, Tedd's tax advisor believed that an unfavorable outcome was <u>probable</u>. And a <u>reasonable estimate </u>of additional taxes was $400,000 but could be as much as $600,000.
Although after the Year 5 financial statements were issued, Tedd received and accepted an IRS settlement offer of $450,000.
Tedd should have included an amount of $400,000 as accrued liability in its December 31, Year 5 balance sheet
The reason is that according to the International Financial Reporting Standards, a PROVISION must be made as long as the conditions below were obtainable at year end.
- Existing Condition (which in this case is the tax dispute with the IRS)
- Probable Cash Outflow (which Tedd's Tax adviser confirmed)
- Reliable Estimate of Outflow ( which the scenario stated ''A reasonable estimate of additional taxes was $400,000'')
Hence, such 'reasonable estimate is the appropriate amount for inclusion in the financial statements.
Students are required to evaluate and analyze the data they gather in order to develop explanations for their results.
<h3>What is analyzing data?</h3>
To analyze anything is to break it down into its component parts and look at each one separately. Getting raw data and turning it into information that users can use to make decisions is the process of data analysis. In order to find answers, validate theories, or test hypotheses, data is gathered and evaluated.
Data analysis, according to statistician John Tukey, is:
"Procedures for analyzing data, techniques for understanding the findings of such procedures, methods for organizing the collection of data to make its analysis simpler, more accurate, or more precise, and all the equipment and results of (mathematical) statistics which apply to analyzing data."
To learn more about data analysis visit:
brainly.com/question/14864440
#SPJ4
