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3 years ago

Listed below are year-end account balances (in $millions) taken from the records of Symphony Stores.

Business

1 answer:

azamat3 years ago

3 0

Answer:

d) $2,377 millions.

Explanation:

Total of Assets comprises the sum of Current Assets and Non Current Assets. Current Assets are assets of a short term nature not exceeding 12 months and Non - Current Assets are assets of a long term nature, exceeding 12 months.

In the Balance Sheet, some assets are presented at their net amounts. Property Plant and Equipment is presented net of accumulated depreciation. Trade Receivables are presented net of allowances for uncollectable amounts.

Therefore,

Total Assets Calculation :

$ millions

Accounts receivable-trade 699

Building and equipment 930

Cash-checking 40

Interest receivable 34

Inventory 25

Land 166

Notes receivable (long-term) 484

Petty cash fund 7

Prepaid rent 28

Supplies 8

Trademark 49

Accumulated depreciation (75)

Allowance for uncollectible accounts (18)

Total Assets 2,377

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Answer:

Concentrated.

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It is known as competitive advantage.

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2 years ago

Becton Labs, Inc., produces various chemical compounds for industrial use. One compound, called Fludex, is prepared using an ela

8_murik_8 [283]

Answer:

1) Direct Materials

Price Variance = $138,474 (F)

Usage Variance = $82,800 (F)

2) Direct Labor

Direct Labor Price = $9,102 (F)

Direct Labor Usage = $4,800 (F)

Explanation:

Material Price Variance = ( Standard price - Actual price) * Actual Quantity purchased

= ($20 - $5.30) *9,420

= $138,474 (F)

Actual Price = $49,926/9,420 = $5.30

Material Usage Variance = ( Standard Quantity - Actual Quantity ) * Standard Price

= ( 11,960 - 7,820 ) $20

=$82,800 (F)

Standard Quantity = 2.60 *4,600 = 11,960

Actual Quantity used = 0+9,420-1,600 = 7,820

Direct Labor price Variance = ( Standard Rate - Actual Rate) * Actual Hours worked

= ($16-$12.30) * 2,460

= $9,102 (F)

Actual time = 61.50*40 = 2,460

Usage variance = ( Standard time - Actual time ) * Standard rate

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3 years ago

Following are the transactions for Valdez Services. The company paid $2,000 cash for payment on a 6-month-old account payable fo

laiz [17]

Answer:

accounts payable 2,000 debit

cash 2,000 credit

salaries expense 1,200 debit

cash 1,200 credit

Equipment 39,000 debit

cash 39,000 credit

utilities expense 800 debit

cash 800 credit

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cash 4,500 credit

Explanation:

In all cases the company is using cash. It is performing a cash disbursements thus we credited.

In the debit side we post what we receive or destination of the cash.

Like, equipment, salaries expense and so on.

7 0

3 years ago