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3 years ago

How does one's behavior affect business? Give at least two examples.

1 answer:

8 0

Aggressive workplace conduct puts workers at risk, hinders efficiency and damages the reputation of the organization. Even if violence is not overt, it ultimately erodes trust and morale and could lead to actions that are progressively worse.

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Porter Co. owned all of the voting common stock of Simi Corp. The corporations' balance sheets dated December 31, 2018, include

Katena32 [7]

Answer: $672,000

Explanation:

Porter sold land to Simi which means that their land balance reduces. Simi's however increases by the same amount. As Porter owned all the voting stock, the sale will be accounted for at the book value.

The Consolidated balance for land in 2020 will therefore be calculated as,

= (Porter land value - Sales price) + (Simi land value + Sales price)

= (416,000 - 65,000) + (256,000 + 65,000)

= 351,000 + 321,000

= $672,000

The book value of the Consolidated land will be $672,000 in 2020.

3 0

4 years ago

A car dealership spends $140,000 on cars to stock their lot. After a day of sales, they earn a total revenue of $300,000. What i

r-ruslan [8.4K]

Answer:

$160,000

Explanation:

Calculation of the car dealership's profit

Using this formula

Profit= Total revenue- Amount Spend

Where,

Total revenue=$300,000

Amount Spend=$140,000

Let plug in the formula

Profit =300,000-140,000

Profit =160,000

Therefore the car dealership's profit will be $160,000

5 0

3 years ago

An error in the ending inventory balance in Year 1 will also affect: (You may select more than one answer.)

Virty [35]

Answer:

A) Year 1 cost of goods sold

B) Year 2 cost of goods sold

D) Year 2 beginning inventory

Explanation:

A) Year 1 expense of merchandise sold : The Current year cost of Goods Sold is processed by deducting finishing stock from Opening Inventory and Purchases made during the year. So in the event that the completion stock isn't right, at that point the result of above calculation will not be right so the Year 1 expense of merchandise sold for example (Current year cost of Goods Sold) will be inaccurate.

D) Year 2 starting stock: year 2 starting stock is equivalent to year 1 completion stock. So on the off chance that off-base stock estimation is made at end of earlier year, at that point current year opening worth will be carried on as off-base.

B) Year 2 expense of merchandise sold: The explanation is same as ans q(i.e. Year 1 expense of merchandise sold) as off-base convey forward opening stock worth will bring about wrong calculation of cost of products sold for year 2.

6 0

3 years ago

Rivera Company has several processing departments. Costs charged to the Assembly Department for November 2020 totaled $2,288,076

Xelga [282]

Answer:

Using the FIFO cost method:

beginning WIP 34,600 units

materials $79,000 (100% complete)

conversion $48,200 (30% complete, 70% remaining = 24,220 EU)

units started 662,700

materials added $1,594,520

conversion costs added $566,356

ending WIP 24,100

100% complete for materials

40% complete for conversion = 9,640 EU

units completed and transferred out = 34,600 + 662,700 - 24,100 = 673,200

units started and completed = 662,700 - 34,600 - 24,100 = 604,000

total equivalent units for the month:

materials 662,700

conversion = 24,220 + 604,000 + 9,640 = 637,860

total cost per EU:

materials = $1,594,520 / 662,700 = $2.4061

conversion = $566,356 / 637,860 = $0.8879

total = $3.294

cost of ending WIP:

materials = 24,100 x $2.4061 = $57,987

conversion = 9,640 x $0.8879 = $8,559.36 ≈ $8,559

total = $66,546

cost of units transferred out = $79,000 + $48,200 + $1,594,520 + $566,356 - $66,546 = $2,221,530

total units transferred out = 673,200

production cost per unit = $2,221,530 / 673,200 = $3.30

3 0

3 years ago

Classification shifting by managers leads to under-reporting of total expenses and over-statement of bottom-line net income.

Step2247 [10]

Answer: False

Explanation:

Classification shifting is a method used whereby the core earnings are manipulated by misclassifying the items in the income statement.

One way that managers make use of classification shifting is by reporting the operating expenses for the business as nonoperating expenses. This is usually done in order to inflate the operating income.

The statement in the question is false as classification shifting by managers doesn't lead to under-reporting of total expenses and over-statement of bottom-line net income rather it lead to over reporting.

4 0

3 years ago