Answer:
1)
Deficiency:
There is no method for determining the exact number of members of the Art Appreciation Society that actually enter the museum every day. The person that allows them to enter is the same person that charges the entrance fee.
Recommendation:
Since there are two clerks, one should deal with paying patrons and the other one should be in charge of allowing non paying members of the Art Appreciation Society to enter the museum.
2)
Deficiency:
There is no method that controls and documents the number of paying visitors.
Recommendation:
The simplest and cheapest way to solve this issue is to issue prenumbered tickets to paying visitors.
3)
Deficiency:
There is a chance that the same clerk delivers the cash to the treasurer and goes to the bank to make the deposit. if this happens, there would be no control over the daily proceeds and the money deposited.
Recommendation:
One of the clerks should be in charge of delivering the daily proceeds to the treasurer, and the other one should be in charge of going to the bank with the treasurer. Probably the best alternative would be that the clerks change tasks every week, e.g. one week clerk 1 delivers the cash to the treasurer, next week clerk 2 should do it.
Answer:
$20.83
Explanation:
The computation of the cost of preferred stock is shown below:
Cost of preferred stock = (Dividend × par value) ÷ (current selling price) × 100
= (10% × 100) ÷ ($48) × 100
= 10 ÷ 48 × 100
= $20.83
Simply we divide the dividend by the current selling price so that the cost of preferred stock can be computed
All other information which is given is not relevant. Hence, ignored it
Answer:
Successful innovation allows you to add value to your business so that you can increase your profits—if you don't innovate well, your business will plateau. Innovation helps you stay ahead of the competition. With globalization and a rapidly changing market, there are more competing businesses than ever before.
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Answer:
The Following transactions results in cash flows for investing activities:
Sale of Land and Building 195,800
Purchase of Treasury Stock -41,500
Purchase of land -43,000.
Purchase of equipment -57,900
Net cash provided by investing activities = 53,400
Explanation:
Cash flow from investing activities is a section in cash flow statement that provides information to company as how much cash is generated or spent in related to different investment related activities of a business.
For example: Purchase of physical assets, Sale of physical assets, investment in or sale of securities.
- Payment of cash dividend is a financing activity so not included in calculations.
- Issuance of common stock is a financing activity in cash flow statement.
- Retirement of bonds is also a financing activity so excluded in calculations.
Answer:
Danielle's qualified business income is $ 175,000
Explanation:
Danielle's qualified business income is $ 175,000.
Danielle's qualified business income from DG is $ 175,000 and Guaranteed payments do not qualify as QBI.
Hence the distributive share can be said to be the relevant part.