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3 years ago

Which of the following are elements you should include in meeting minutes? Check all that apply.

Business

1 answer:

GREYUIT [131]3 years ago

6 0

Answer:

The correct answer are A and D.

Explanation:

Meeting minutes is the one which involve the name of the group, time as well as date and the place of the meeting, names of the absentees and attendees, record and reports of old business as well as new business, approval of previous minutes, the precious wording of motions which comprise of action taken and vote and the person signature and name.

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Kumar Inc. uses a perpetual inventory system. At January 1, 2020, inventory was $214,000,000 at both cost and realizable value.

MAVERICK [17]

Answer:

A. Dr Cost of Goods Sold $21,000,000

Cr Allowance to Reduce Inventory to Market $21,000,000

B. Dr Loss Due to Market Decline of Inventory $21,000,000

Cr Allowance to Reduce Inventory to Market $21,000,000

Explanation:

A.Preparation of the necessary December 31 entry under the cost-of-goods-sold method

COST-OF-GOODS-SOLD METHOD

Dr Cost of Goods Sold $21,000,000

Cr Allowance to Reduce Inventory to Market $21,000,000

($286,000,000 - $265,000,000)

B.Preparation of the necessary December 31 entry under the Loss method

LOSS METHOD

Dr Loss Due to Market Decline of Inventory $21,000,000

Cr Allowance to Reduce Inventory to Market $21,000,000

($286,000,000 - $265,000,000)

7 0

3 years ago

Consider an offer to supply 5 paintings per year to an art gallery in Rome for the next five years. The contract is exclusive, m

IceJOKER [234]

Answer:

I will accept the offer if the price per painting is $56,312.41 or higher.

Explanation:

We will calculate the present value of the other option which is, selling our painting as a freelancer.

$C \times \frac{1-(1+r)^{-time} }{rate} = PV\\$

C 315,000.00

time 5

rate 0.2

$315000 \times \frac{1-(1+0.2)^{-5} }{0.2} = PV\\$

PV $942,042.8241

Now, we subtract the signing bonus of 100,000

942,042.83 - 100,000 = 842,042.83

And solve for the annual proceeds from the painting we need to equalize the opportunity cost:

$PV \div \frac{1-(1+r)^{-time} }{rate} = C\\$

PV 842,042.83

time 5

rate 0.2

$842042.83 \div \frac{1-(1+0.2)^{-5} }{0.2} = C\\$

C $ 281,562.03

Now, we divide by the 5 painting per year:

$281,562.03 per year / 5 painting per year = $56,312.41

3 0

3 years ago

For each of the following items, calculate the cash sources or cash uses that should be recognized on the statement of cash flow

Serhud [2]

Answer:

$784,700

Explanation:

Data provided

Revenue from sales = $762,000

Decrease in accounts receivables = $22,700

The computation of cash received from customers is shown below:-

Cash receipts from customers = Revenue from sales + Decrease in accounts receivables

= $762,000 + $22,700

= $784,700

Therefore for computing the cash received from customers we simply applied the above formula.

5 0

3 years ago

In the course of creating an effective business message, excellent business thinkers are most likely to

Irina18 [472]

Answer:

a) make well-reasoned conclusions and solutions ; & b) begin jotting down a rough draft right away to capture their ideas.

Explanation:

Effective Business message should be - complete, clear, concise, concrete, correct, courteous, coherent.

Rough draft is good for brainstorming & initial preliminary creation stage of business message. After having a bunch of ideas : its important to well arrange them in a coherent, clear way & giving complete, concise structure. This implies better understanding of conclusions, solutions.

4 0

3 years ago

Six months before filing for bankruptcy, shirley sold her new car to her brother, claude, for $100 so that her creditors could n

Ket [755]

<span>In this case, the transfer could be considered voidable by the trustees. This is because Shirley did not receive the fair value for the car, but simply received a negligible amount as a way of trying to defraud her creditors. In this case, the transfer could be voided.</span>

7 0

3 years ago