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3 years ago

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Select the correct answer. What is the first step in financial planning? A. maintaining a log of all your expenses B. understand

ing what you want C. preparing a balance sheet D. attaching a goal cost to every goal E. attaching a time frame to every goal

1 answer:

Mariulka [41]3 years ago

6 0

Answer:B

Explanation:

If you don't know what you want you can't do anything else

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Fernwood Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is

blsea [12.9K]

Answer:

a. $61,500

Explanation:

Calculation for the amount of cash paid for

dividends

Using this formula

Dividend amount=Cash dividends payable at the beginning of the year +Dividend declared during the period - Cash dividends payable at the end of the year

Let plug in the formula

Dividend amount =$30,250+$68,750-$37,500

Dividend amount =$61,500

Therefore the amount of cash paid for

dividends will be $61,500

4 0

4 years ago

When cash is received from sales, the change in the owner’s equity is usually recorded.

Vedmedyk [2.9K]

<u>The change in the owner's equity</u> is often documented in a separate revenue account when cash is received from sales.

<h3><u>What Is Revenue?</u></h3>

Revenue, which is determined by multiplying the average sales price by the number of units sold, is the money made from routine business operations. It is the top-line (or gross income) figure from which costs are deducted to calculate net income. On the income statement, revenue is referred to as sales.

Revenue is the money that a business generates via its operations. Depending on the accounting method used, there are various methods for calculating revenue. Sales made on credit will be included in revenue for products or services delivered to the client in accrual accounting. Revenue may be recognized in accordance with certain regulations even though payment has not yet been made.

Learn more about revenue with the help of the given link:

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5 0

2 years ago

Pitfalls that should be carefully explored before outsourcing include

pentagon [3]

<span>These are some of the pitfall that should be carefully explored before outsourcing. It is difficult to full integrate outsourced processes with the firm's other processes. Deciding to outsource a process before making a good-faith effort to fix the existing one.The firm with a technology advantage may be setting up the other firm to be a future competitor</span>

6 0

4 years ago

Chance Co., the parent of a US-based MNC, uses fundamental forecasting to estimate future values of exchange rates. Suppose that

Ghella [55]

Answer:

d. An increase in the value of the pound by 0.6 percent

Explanation:

Given :

Regression equation : $e_{bp}=b_0+b_1Inf_t+\mu_t$

Change company estimates that $b_0$ to be 0.0 and the value of $b_1$ to be 0.6.

Now, ebp = 0.6 x inf + μt ----------------- $b_1=0.6$

When Inf = 1 (assume that the error term is 0)

ebp = 0.6 x 1 = 0.6

That is it is an increase in the value of pound by 0.6% with the one unit increase in the $Inf_t$ .

Therefore, option (d) is correct.

6 0

3 years ago

A citizen group raised funds to establish an endowment for the Eastville City Library. Under the terms of the trust agreement, t

tino4ka555 [31]

Answer:

a. Journal entries

Particulars Debit Credit

Revenue: Addition to permanent $510,000

endowment

Revenue investment income $48,000

Revenue : increase in fair value $8,000

of investment

Expenditure - subscription $39,500

<em>Fund balance $526,500</em>

<em />

b. Statement of revenue , expenditure , and changes in fund balance

Particulars Amount

<u>Revenue</u>

Addition to permanent endowment $510,000

Investment income $48,000

Increase in fair value of investment $8,000

Total revenue $566,000

<u>Expenditure</u>

Library subscription <u>$-39,500 </u>

Net change in fund balance $526,500

Beginning fund balance <u> 0 </u>

Ending fund balance <u>$526,500</u>

c. Balance sheet

<u>Assets</u>

Cash $8,500

Investments $5,18,000

Accrued interest receivable <u>$2,000 </u>

Total assets <u> $528,500</u>

<u>Liabilities and fund balance</u>

<em>Liabilities</em>

Accounts payable $2,000.00

<em>Fund balance </em>

Non spendable permanent $510,000

fund principal

Assigned to library <u>$16,500</u>

($526,500 - $510,000)

Total fund balance <u>$526,500</u>

Total liabilities and fund balance <u>$528,500</u>

3 0

3 years ago