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Makovka662 [10]
3 years ago
12

Which of the following is considered to be a financial statement?

Business
1 answer:
lakkis [162]3 years ago
5 0

Answer:

Balance sheet

Explanation:

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Perrette Motor Company rebuilds automobile engines that have been damaged or are in need of extensive repair. The rebuilt engine
kow [346]

Answer:

Perrette Motor Company

Computation of the cost per equivalent unit for materials and conversion for the month:

1. Material cost per equivalent unit: $1,100

2. Conversion cost per equivalent unit: $1,350

Explanation:

a) Data and Calculations:

                                Units     % of completion          Equivalent unit

                                          Materials Conversion    Materials Conversion

Beginning WIP        120         50%        50%                 60                60

a) Started and

Completed             530        100%       100%             530               530

b) Ending WIP        220          50%        30%              110                  66

Equivalent units                                                        640                596

Cost of production:

                                       Materials      Conversion

Beginning WIP              $68,000          $73,200

Started & completed    636,000           731,400

Total cost                    $704,000       $804,600

Equivalent units               640                   596

Cost per equivalent unit $1,100             $1,350

b) When calculating the equivalent units under the weighted average process costing method, the units beginning work-in-process are not taken into consideration, but the costs are.

5 0
3 years ago
Myriad Solutions, Inc. issued 10% bonds, dated January 1, with a face amount of $320 million on January 1, 2021, for $283,294,72
otez555 [7]

Answer:

The net amount of the liability Myriad would report in its balance sheet at December 31, 2021 is $287,524,896

Explanation:

First, we need to determine the amount of discount on the bond at the time of issuance

Discount on Bond = Face value - Issuance value = $320,000,000 - $283,294,720 = $36,705,280

June 30, 2021

Now we will use the effective interest method to calculate the amortization of discount on the bond.

Amortization of Discount = ( Carrying Value x Market yield ) - ( Face value x Coupon rate ) = ( $283,294,720 x 12% ) - ( $320,000,000 x 10% ) = $33,995,366.4 - $32,000,000 = $1,995,366.4 = $1,995,366

Carrying value = $283,294,720 + $1,995,366 = $285,290,086

December 31, 2021

Now we will use the effective interest method to calculate the amortization of discount on the bond.

Amortization of Discount = ( Carrying Value x Market yield ) - ( Face value x Coupon rate ) = ( $285,290,086 x 12% ) - ( $320,000,000 x 10% ) = $34,234,810.32 - $32,000,000 = $2,234,810.32 = $2,234,810

Carrying value = $285,290,086 + $2,234,810 = $287,524,896

5 0
2 years ago
4.
JulsSmile [24]

Answer:

Managing your money behavior

Explanation:

Personal finance is the management of individual financial activities of generating income and expenditure. It involves the process of setting personal financial goals and making plans on how to achieve them. Personal finance entails developing personal budgets, savings and investment plans to achieve short term and long term financial goals.

Individuals may need to hire personal finance managers to help them manage their finances. The role of the personal-finance manager is to advise and help in the making and implementation of financial goals. Personal finance involves managing money behavior to achieve the desired results.

4 0
3 years ago
The upper management of barcelona restaurant group believes that success depends on employees who are self-starters and empowere
inysia [295]
This idea is most consistent with LAISSEZ FAIRE type of management in which the employees are allowed to use their ideas and creativity to flourish in their areas of specialization. The management takes a back seat role in the company and only offer guidance when needed.
3 0
2 years ago
Read 2 more answers
What are prenuptial contracts?​
Monica [59]

Answer:

A written contract created by two people before they are married.

Explanation:

A prenup typically lists all of the property each person owns (as well as any debts) and specifies what each person's property rights will be after the marriage.  

7 0
2 years ago
Read 2 more answers
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