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3 years ago

Which cabinet-level department has primary responsibility for u.s. foreign policy?

1 answer:

4 0

<span>The Department of State is primarily responsible for U.S foreign policy. The State Department is responsible for the international relations of the United States, negotiates treaties and agreements with foreign entities, and represents the United States at the United Nations.</span>

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What is the proper way to hold glassware when serving?

PIT_PIT [208]

Answer:

you hold it at both the base and handle

8 0

2 years ago

The 2013 income statements of Leggett & Platt, Inc. reports net sales of $3,746.0 million. The balance sheet reports account

Mamont248 [21]

Answer:

The answer is a. 46 days.

Explanation:

The average collection period is the time it takes on average to receive the cash from the credit sales. It is the time period for which an average accounts receivable pays the company. The formula for average collection period is,

Average collection period = (Average accounts receivable / Net sales) *365

Where 365 is taken as the number of days in a year.

The average of accounts receivables can be calculated by adding the opening and closing accounts receivables and dividing them by 2.

Average accounts receivables = (465.4 + 482.6) / 2 = 474 million

Average collection period = (474 / 3746) * 365 = 46.185 days rounded off to 46 days.

7 0

3 years ago

Read 2 more answers

Harris Company had checks outstanding totaling $4,948 on its May bank reconciliation. In June, Harris Company issued checks tota

Elis [28]

Answer:

$20,665

Explanation:

The bank reconciliation is one done between the balance per the books and balance per the bank statement. This is usually as a result of transactions known as reconciling items. These are items that have either been recognized in books but yet to be recorded by the bank or vice versa, transactions recorded wrongly by one of the parties etc.

To reconcile the two balance moving from the bank statement balance to the cash account balance;

The amount of outstanding checks on Harris Company's June bank reconciliation is the net to amount of checks cleared and the total of checks written. This amount

= $4,948 + $41,405 - $25,688

= $20,665

The Company's customers of $348 was also returned marked "NSF is a part of the outstanding checks.

7 0

3 years ago

Read 2 more answers

Rogue Outfitters Inc. has outstanding $1,000 face value that make semiannual payments, and have 10 years remaining to maturity.

Novosadov [1.4K]

Answer:

The coupon rate of these bonds is 4%

Explanation:

The coupon rate is the interest rate written on the face of the bond and the interest payment is made on this rate.

Use the following formula to calculate the coupon rate of the bond

Price of the bond = [ C x ( 1 - ( 1 + r )^-n ) / r ] + [ F / ( 1 + r )^n ]

Where

F = Face value = $1,000

Price of the bond = $938.57

r = Yield to maturity = 4.78% x 6/12 = 2.39%

n = Numbers of periods = 10 years x 12/6 = 20 periods

C = Periodic coupon payment = ?

Placing values in the formula

$938.57 = [ C x ( 1 - ( 1 + 2.39% )^-20 ) / 2.39% ] + [ $1,000 / ( 1 + 2.39% )^20 ]

$938.57 = [ C x 15.75237625 ] + $623.52

C x 15.75237625 = $938.57 - $623.52

C x 15.75237625 = $315.05

C = $315.05 / 15.75237625

C = $20 semiannually

C = $20 x 12/6 = $40 annually

Coupon rate = Coupon Payment / Face value = $40 / $1,000 = 0.04 = 4%

8 0

3 years ago

If a company fails to make an adjusting entry for deferred expense, the assets will be overstated. Assume the deferred expense

ivann1987 [24]

Answer: True .

Explanation:

In accrual accounting, revenue is entered when it is earned and expenses are entered when they are incurred.

Deferred revenue is money received by a company in advance of having earned it. In other words, deferred revenues are not yet revenues and therefore cannot yet be reported on the income statement.

As a result, the unearned amount must be deferred to the company's balance sheet where it will be reported as a liability.

When your company receives a customer deposit or prepayment on a sale, that payment occurs in advance of the actual sale and is therefore considered unearned revenue. Deferred revenue flows between the balance sheet and the income statement as revenue.

7 0

3 years ago