Answer:
Value of the account = -$900
Explanation:
Accumulated profits from the short sale = Number of shares x Price per share
= 300 x $50 = $15,000
Commissions that are paid during the short sale = Commission per share x Number of shares
= 0.5 x 300 = $150
The Net proceeds from the short sale = Proceeds – Commissions
= 15000 – 150 = $14,850
Total dividend paid = Number of shares x Dividend per share
= 300 x 3 = $900
Money paid in covering the short sale = Number of shares x Price
= 300 x $49 = $14,700
Commissions paid in covering the short sale = Commission per share x Number of shares
= 0.5 x 300 = $150
Total money paid in covering the short sale
= 14700 + 150 = $14,850
Therefore, Value of the account = Proceeds – Dividend paid – Money paid
= $14,850 - $900 - $14,850 = -$900
Value of the account = -$900
Answer:
Product category units cost NRV year-end inventory
Tools:
-
Hammers 120 <u>$5.50</u> $6.00 $660
- Saws 250 $10.50 <u>$9.50</u> $2,375
- Screwdrivers 350 <u>$2.50</u> $3.10 $875
Paint products:
-
1-gallon cans 550 $6.50 <u>$5.50</u> $3,025
- Paint brushes 120 <u>$4.50</u> $5.00 $540
1) carrying value of year-end inventory:
Tools:
-
Hammers $660
- Saws $2,375
- Screwdrivers $875
- sub-total $3,910
Paint products:
-
1-gallon cans $3,025
- Paint brushes $540
- sub-total $3,565
Total $7,475
2) adjustment to tools:
Dr Cost of goods sold 250
Cr Inventory: tools 250
adjustment to paint products:
Dr Cost of goods sold 550
Cr Inventory: paint products 550
or total adjustment to inventory account:
Dr Cost of goods sold 800
Cr Inventory 800
Answer:
I think it's common terms of reference
Answer:
Function
Explanation:
Functional departmentalisation is when staff who perform similar functions are put in the same department.
Examples of functional departmentalisation includes- marketing department, production department, finance department, human resources department.
Advantages of functional departmentalisation include:
1. It makes coordination of activities easier
2. It enhances supervision of staff
3. It enhances specialisation.
Functional departmentalisation can lead to overspecialisation and the inability of managers to perform in other departments other than their primary departments.
Other types of departmentalisation are :
1. Customer departmentalisation
2. Geographic departmentalisation
3. Process departmentalisation
4. Product departmentalisation
