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2 years ago

A company reported the following in its recent balance sheet:

Business

2 answers:

KiRa [710]2 years ago

5 0

Answer: a. $240,116

Explanation:

The following are considered assets in the above question.

Accounts Receivable $81,336

Cash $73,324

Inventories $25,816

Properties and Equipment $54,128

Supplies $5,512

So adding them up we have,

= 81,336 + 73,324 + 25,816 + 54,128 + 5,512

= $240,116

$240,116 is the amount of Total Assets on the Balance Sheet so option A is correct.

NB - Supplies are considered Assets when they are significant.

Anestetic [448]2 years ago

3 0

Answer:

a. $240,116

Explanation:

The balance sheet has two sides, assets and Liabilities side and both sides must always equal each other.The assets include items such as cash supplies inventories , and other resources which have expected future benefits.

Liability accounts are claims against assets which means they are obligations to transfer assets or provide product or services to other entities. Equity is the owner's residual interest in the assets after deducting liabilities.

The Balance Sheet

Cash $73,324

Supplies $5,512

Inventories $25,816

Accounts Receivable $81,336

Properties and Equipment $54,128

Total Assets $ 240116

Accounts Payable $19,207

Wages Payable $12,880

Income Tax Payable $3,512

Long-term Liabilities $1,709

Stockholder's Equity $202,808

Total Liabilities and Owner's Equity $ 240116

So we see that both sides are equal so choice a is the best option.

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Mccabe Corporation uses the weighted-average method in its process costing. The following data pertain to its Assembly Departmen

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Answer and Explanation:

The computation of the equivalent units of production for both materials and conversion costs is given below:

For material

= Units completed + ending work in process × completion percentage

= 7,700 + 2,100 × 0.75

= 9,275 units

And, for conversion cost

= Units completed + ending work in process × completion percentage

= 7,700 + 2,100 × 0.25

= 8,225 units

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2 years ago

You want to learn more about how to align individual employee's goals with the overall organization's goals. which HRM function

pav-90 [236]

Answer:

The HRM (Human Resources Management) function that covers concerns about how to align individual employee's goals with the overall organization's goals is:

Performance management.

Explanation:

In Human Resource Management (HRM), there are various functions dealing with Human resource planning, Recruitment and selection, Performance management, Learning and development, Career planning. The performance management unit ensures that individual employee's goals are aligned with the overall goals of the organization in order to achieve organizational success. The performance management function helps HR managers to establish, agree, and marry the goals of employees with organizational performance expectations.

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2 years ago

The following information was drawn from the Year 1 accounting records of Ozark Merchandisers: Inventory that had cost $15,000 w

finlep [7]

Answer: See explanation

Explanation:

a. Sales = $27000

Less: sales returned = -$660

Less: discount at 2% = ($27000 - $660) × 2% = -$526.8

Net sales = $25813.2

b. Net sales = $25813.2

Less: cost of goods sold = $15000 - $400 = -$14600

Gross profit = $11213.2

Operating expense:

Less: Selling and administrative expenses = -$2835

Operating income = $8378.2

Non-operating items:

Less: Interest expense = ($200

Add: Gain on land Sales = $900

Net Income= $9078.2

c. The interest expense be shown on the statement of cash flows in the operating expenses section. It'll be recorded in the operating activities.

d. The sale of the land would be under the investing activity as it's capital asset of the business. Therefore, the full sales price of the land, $9,250, would be shown as a cash inflow from investing activities on the statement of cash flows.

Option B is the correct answer.

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2 years ago

On Monday morning you sell one June T-bond futures contract at 97:27, that is, for $97,843.75. The contract's face value is $100

sergij07 [2.7K]

Answer:

Please find the detailed answer as follows

Explanation:

The case is pretty simple, and I’ll to be simple in explanation below:

Facts:

--Transfer price per unit should be atleast equal to the relevant cost per unit.

--Relevant cost per unit = Variable cost per unit + Contribution margin lost + Avoidable fixed cost.

--Since it is stated that fixed cost wont be affected and that there is idle capacity available, there wont be any ‘Contribution margin lost’ on outside sale AND ‘avoidable fixed cost.

--If Division A transfers, it would transfer at the relevant cost of $ 19 per unit, which is equal to the variable cost per unit.

--If Division A didn’t transfer, Division B will buy from outside at rate of $ 24 per unit.

Hence, Division B will purchase $ 24 per unit when it could get from Division A at $ 19.

Thereby, Division will be paying $ 5 per unit extra on 16100 units.

Division B and hence, the company as a whole will be WORSE by $ 80,500

[16100 units x $ 5 per unit]

Correct Answer = Option #3: Worse off by $ 80,500 each period.

The same is illustrated as attached image.

Download xlsx

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3 years ago

Snow White Frame Company's cost formula for its supplies cost is $1,740 per month plus $8 per frame. For the month of March, the

Mademuasel [1]

Answer:

$48 U

Explanation:

Calculation to determine what The activity variance for supplies cost in March would be closest to:

First step is to calculate the Planning supply activity cost

Planning supply activity cost = (614 × $8) +$1,740

Planning supply activity cost = 4,912+$1740

Planning supply activity cost = $6652

Second step is to calculate the Actual supply activity cost

Actual supply activity cost = (620 × $8) + $1,740

Actual supply activity cost =4960+$1,740

Actual supply activity cost =$6,700

Now let calculate the Activity variance for supplies cost using this formula

Activity variance for supplies cost = Actual activity cost – Planning activity cost

Let plug in the formula

Activity variance for supplies cost= $6,700 - $6,652

Activity variance for supplies cost= $48 Unfavorable

Therefore The activity variance for supplies cost in March would be closest to:$48 U

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2 years ago