Answer: The correct answer is "A. reconciles the physical units started in a period with the physical units completed in that period.".
Explanation: The physical flow reconciliation: reconciles the physical units started in a period with the physical units completed in that period.
Through this process it is possible to control, how many units are started in a period and how many are finished in that period.
Answer:
Company 1 is most likely to have lost sales due to an inventory shortage.
Explanation:
Inventory turnover is the ratio that how many time a business has sold or replaced the inventory during a given period. A business is considered more profitable if it has high inventory turnover.
Company with highest Inventory turnover may lost sales due to inventory shortage. Company 1 1 has the highest inventory turnover of 46.3. Which may lead to to the shortage of stock because the inventory in stock is more likely to sold earlier than other companies. High inventory turnover will lead to low inventory days.
Answer:
see below
Explanation:
Fixed assets are valuable items that cannot be converted into cash quickly. They are assets not meant for sale or consumption up in the current financial year.
Fixed assets are tangible or physical assets used by businesses in the productions or provision of services. They provide long term financial benefits to a business. Fixed assets have a useful life of more than one year. Land, buildings, motor vehicles, plant, and equipment are examples of fixed assets.
Answer:
The entries to record the transactions are given below.
a. Provide music lessons to students for $7,000 cash.
Debit Cash Asset $ 7000
CreditService Revenue income $ 7000
b. Purchase prepaid insurance to protect musical equipment over the next year for $3,000 cash.
Debit Prepaid Insurance equipment Asset $ 3000
Credit Cash Asset $ 3000
c. Purchase musical equipment for $10,000 cash.
Debit Equipment Asset $ 10,000
Credit Cash Asset $ 10,000
d. Obtain a loan from a bank by signing a note for $10,000
Debit Cash Asset $ 10,000
Credit Notes payable $ 10,000
Answer:
C. $1.24 million
Explanation:
Given that
Annualized interest compounded = 5%
For monthly, it would be = 5% ÷ 12 months = 0.4167%
Time = 235 years
For monthly, it would be = 235 years × 12 months = 2,820
Present value = $10
We know that
Future value = Present value × (1 + interest rate)^number of years
= $10 × (1 + 0.4167%)^2820
After solving this, the answer would be $1.24 million
