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3 years ago

5

Senior managers are responsible for making specific plans to implement the strategy. The above statement is true or false. expla

ined

1 answer:

Tanya [424]3 years ago

4 0

Answer:

True

Explanation:

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Smoltz company had $375,000 of current assets and $135,000 of current liabilities before borrowing $90,000 from the bank with a

QveST [7]

The borrowing transaction WILL INCREASE THE WORKING CAPITAL OF SMOLTZ COMPANY BY $90,000.00.
Working capital is defined as the amount of a company's asset that can be converted into cash in the near future, taking into account the payment which has to be made. Borrowing money increases the amount of working capital that a company has.

6 0

4 years ago

Sufficient Dwelling Coverage? Colton Gentry of Lancaster, California, has owned his home for ten years. When he purchased it for

Shtirlitz [24]

Answer:

a. $17,978

b. $300,000

Explanation:

Conditions

The cotton country of lancaster, california has owned his home for ten years
purchased it for $178,000, cotton bought a $160,000 homeowner's insurance policy

the replacement cost of the home is now $300,000

a. hence,

the proportion of the house insured = $\frac{InsuranceAmount}{PriceOfThe Home} \times 100$ %

$= \frac{160000}{178000}\times 100$

= 89.89%

Percentage amount covered by the policy

= proportion of the house insured = 89.89%

Amount covered by the policy in dollars

= $20,000 × 89.89%

= $17,978

b

Amount of insurance on the home that cotton should now carry to be fully reimbursed for a fire loss = current value of the home

= $ 300,000

5 0

3 years ago

during the trial of a suit concerning liability for an accident involving cartage ltd. and docking inc., the plaintiff’s attorne

Ira Lisetskai [31]

Emma can provide her opinions and findings with regard to the evidence in the case that pertains to her area of expertise.

<h3><u>A trial is what?</u></h3>

A court trial, also known as a bench trial or jury trial, is a hearing during which all relevant facts are presented, and the judge or jury then renders a verdict on the matter. In a bench trial, the defendant may elect to forego the right to a jury trial in favor of the judge's decision.

In contrast to a jury trial, which has a panel of the defendant's peers decide on the case, a bench trial leaves the choice up to a judge. Let's examine the many steps that occur throughout a court proceeding.

Learn more about the trial here:

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5 0

1 year ago

Exercise 6-4A Calculate inventory amounts when costs are rising (LO6-3) [The following information applies to the questions disp

VladimirAG [237]

Answer:

1. Ending inventory = $2,408; Cost of goods sold = $16,837; Sales revenue = $22,770; and Gross profit = $5,933.

2. Ending inventory = $2,094; Cost of goods sold = $17,151; Sales revenue = $22,770; and Gross profit = $5,619.

3. Ending inventory = $2,293; Cost of goods sold = $16,952; Sales revenue = $22,770; and Gross profit = $5,818.

Explanation:

Note: This question is not complete. The complete question is therefore presented before answering the question. See the attached pdf file for the complete question.

Explanation to the answer is now presented as follows:

1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit.

Note: See part 1 of the attached excel for the calculation of calculation of Cost of goods available for sale, Cost of goods sold, and Ending inventory using FIFO.

First In, First Out (FIFO) refers to an inventory accounting method in which inventory items purchased first are sold first, while the one that are purchased last are sold last.

In the attached excel file, since the inventory purchased on Oct. 6 is purchased last, the number of unit of inventory purchased on Oct. 6 sold is calculated by deducting the sum of the beginning inventory and inventory purchased before Oct. 6 from the total inventory sold as follows:

Number of unit of inventory purchased on Oct. 6 that are sold = Number of units sold - (Beginning inventory + Apr. 7 Purchases + Jul. 16 Purchases) = 414 - (45 + 125 + 195) = 49

Therefore, the number of ending inventory is obtained as follows:

Number of unit of ending inventory = Number of inventory purchased on Oct. 6 - Number of inventory purchased on Oct. 6 sold = 105 – 49 = 56

Sales revenue = Number of unit units of inventory sold for the entire year * Selling price per unit = 414 * $55 = $22,770

From the attached excel file, we have:

Cost of goods sold = $16,837

Ending inventory = $2,408

Therefore, we have:

Gross profit = Sales revenue - Cost of goods sold = $22,770 - $16,837 = $5,933

2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit.

Note: See part 2 of the attached excel for the calculation of calculation of Cost of goods available for sale, Cost of goods sold, and Ending inventory using LIFO.

Last In, First Out (LIFO) refers to an inventory accounting method in which inventory items purchased last are sold first, while the one that are purchased first are sold last.

In the attached excel file, the number of unit of inventory purchased on April 7 that are sold and the ones remaining that are NOT sold that forms part of ending inventory are calculated as follows:

Number of unit of inventory purchased on April 7 that are sold = 414 – (195 + 105) = 114

Number of unit of inventory purchased on April 7 that are NOT sold = Number of unit of inventory purchased on April 7 - Number of unit of inventory purchased on April 7 that are sold = 125 – 114 = 11

Sales revenue = Number of unit units of inventory sold for the entire year * Selling price per unit = 414 * $55 = $22,770

From the attached excel file, we have:

Cost of goods sold = $17,151

Ending inventory = $2,094

Therefore, we have:

Gross profit = Sales revenue - Cost of goods sold = $22,770 - $17,151 = $5,619

3. Using weighted average cost, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. (Round "Average Cost per unit" to 4 decimal places and all other answers to the nearest whole number.)

Note: See part 3 of the attached excel for the calculation of calculation of Cost of goods available for sale, Cost of goods sold, and Ending inventory using weighted average cost.

Weighted average cost method refers to a method of costing inventory in which the total cost of the goods available for sale is divided by the total number of units available for sales in order to obtain weighted average cost per unit.

In the attached excel file, weighted average cost per unit is therefore calculated and rounded to 4 decimal places as follows:

Weighted average cost per unit = $19,245 / 470 = $40.9468

Number of unit of ending inventory = Total number of units available for sales – Number of unit sold = 470 – 414 = 56

Sales revenue = Number of unit units of inventory sold for the entire year * Selling price per unit = 414 * $55 = $22,770

From the attached excel file, we have:

Cost of goods sold = $16,952

Ending inventory = $2,293

Therefore, we have:

Gross profit = Sales revenue - Cost of goods sold = $22,770 - $16,952 = $5,818

<span class="sg-text sg-text--link sg-text--bold sg-text--link-disabled sg-text--blue-dark"> pdf </span>

<span class="sg-text sg-text--link sg-text--bold sg-text--link-disabled sg-text--blue-dark"> xlsx </span>

8 0

3 years ago

I have a very quick question. So im applying for Early college and i need some future educational goals and maybe im just thinki

Reika [66]

Answer:

Explanation:

They are pretty much asking what you want to pursue. For example, if you are going for a career in Information Technology, one of your goals may be learn Robotics or Artificial Intelligence. Another goal may be to learn the necessary skills and work for a startup. The goals are anything that you want to achieve, and in this case it would be related to the field that you are going to study in the college that you are applying to. Therefore, simply write what you think you want your life to be like in the future with what you learn in college.

8 0

3 years ago