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Simora [160]
3 years ago
6

Mize Company provided $45,500 of services on account, and collected $38,000 from customers during the year. The company also inc

urred $37,000 of expenses on account, and paid $32,400 against its payables. How do these events impact the elements of the horizontal financial statements model
Business
1 answer:
UNO [17]3 years ago
5 0

Answer:

Total asset will increase

Explanation:

Equity and Liability        Amount            Effect

Service Revenue             $45,500

Expenses                         <u>$37,000</u>

Profit                                 $8,500            Increase in equity

Account Payable              <u>$4,000</u>            Increase in liability

($37,000 - $32,400)

Total                                  <u>$13,100</u>            Increase in Total assets

<u></u>

Asset

Cash                                   $5,600      

($38,000 - $32,400)

Account Receivables        <u>$7,500</u>

($45,500 - $38,000)

Total                                    <u>$13,100</u>           Increase in Total assets

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Pie Bakery owns 60 percent of slice Products Company's stock. During 20X8. Slice produced 100,000 bags of flour, which it sold t
Archy [21]

Answer:

Since no transactions are specified that were made out of the group ( i.e. Holding Company and Subsidiary) so, in consolidated income statement of 20x8, no COGS shall be shown for the transactions made between Pie and Slice Co.

Explanation:

In consolidated financial statements, we represent Holding ( Pie ) and Subsidiary ( Slice ) Companies as a single unit. Hence, the transactions made within the group are not considered in making of Consolidated financial statements.

However, both companies will show the sales and COGS in separate financial statements.

4 0
4 years ago
According to Trompenaars, it is important to play hardball, test the resilience of the
Mandarinka [93]
The correct answer is - believe in dominating the environment.
You need to show those cultures that they aren't the only ones that can dominate over everybody else, but rather to show some competition and let them know they aren't the strongest culture in the market, and that they have many competitors. 
5 0
3 years ago
A stock has had returns of 12 percent, 19 percent, 21 percent, −12 percent, 26 percent, and −5 percent over the last six years.
11111nata11111 [884]

Answer:

Average rate of return= 10.17 %

Geometric return = 9.23%

Explanation:

<em>Geometric average return</em>

This is compounded annual rate of return which is used to measure the performance of an asset over a certain number of years. It helps to measure the return generated by an investment taking into account the volatility .

Unlike the arithmetic average the geometric average gives an idea of the real rate taking into account of volatility

The formula below

Geometric Return =(1+r1) (1+r2) ...... (1+rn)^1/n

Geometric Average return =  

(1.12× 1.19× 1.21× 0.88× 1.26× 0.95)^(1/6) - 1 =0.09233168

Geometric return =0.0923 × 100= 9.23%

Geometric return = 9.23%

Average rate of return

<em>The average return is the sum of the returns over the years dividend by the Numbers of returns</em>

Average return = sum of return / No of returns

(12% + 19% + 21% + (12%) + 26% + (5%))/6 =10.17 %

Average rate of return= 10.17 %

Geometric return = 9.23%

4 0
3 years ago
Public choice is a field of study that:
irinina [24]

Answer:

a. Uses economic tools to examine political behavior.

Explanation:

Public choice is a field that uses economics to analyze and understand situations related to the political science like behavior, for example, the analysis of voters' behavior using decision theory. According to this, the answer is that public choice is a field of study that uses economic tools to examine political behavioral.

The other options are not right because population growth and consumption chooices are not related to political science and public choice uses economic tool not mathematics and statistics.

5 0
3 years ago
Community colleges provide training for some careers in public safety.
vivado [14]

Answer: True

Explanation:

Public safety simply means the protection of the public or the safeguarding of people from disasters, crimes, and every other potential threats and dangers.

It should be noted that public safety I the responsibility of every government in the United States, and some community colleges provide training for some careers in public safety.

Therefore, the answer is true.

7 0
3 years ago
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