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Anestetic [448]
3 years ago
10

Perform a horizontal analysis providing both the amount and percentage change. (Round Percentage answers to 1 decimal place. Dec

reases should be indicated by a minus sign.)
Year
2021 2020
Cash $322,960 $880,000
Accounts receivable 702,240 280,000
Inventory 897,780 780,000
Long-term assets 3,536,680 2,380,000
Total assets $5,459,660 $4,320,000
Business
1 answer:
True [87]3 years ago
3 0

Answer:

Find attached

Explanation:

Horizontal or trend analysis involves is a financial statement analysis technique that shows the percentage change or dollar change in a corresponding financial statement's item.

For example, the change in the fixed assets by a way of increase or decrease compared to last year's financial statements.

Formula:

change in a particular line item=(current year amount/previous year)-1

Download xlsx
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Brandes purchases a delivery truck which will be used to deliver products to customers. the delivery truck is a/an?
frozen [14]

Electric bill payable Liability

<h3>Is an electric bill considered a liability?</h3>

In our example, the utility bills for gas and electricity used in December are both an expense and a liability as of December 31.

When the utility bills are paid, the liability is eliminated.

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7 0
1 year ago
Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The
dlinn [17]

Answer:

Selling price= 240*1.4= $336

Explanation:

<u>First, we need to calculate the predetermined overhead rate:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= (252,000/30,000) + 2.1

Predetermined manufacturing overhead rate= $10.5 per machine hour

Job T687:

Number of units in the job 10

Total machine-hours 30

Direct materials $ 675

Direct labor cost $1,050

<u>Now, we need to allocate overhead and determine the total cost:</u>

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 10.5*30= $315

Total cost= 675 + 1,050 + 315= $2,040

<u>Finally, the unitary cost and selling price:</u>

Unitary cost= 2,040/10= $240

Selling price= 240*1.4= $336

3 0
3 years ago
Garcia Co. owns equipment that cost $81,600, with accumulated depreciation of $43,200. Garcia sells the equipment for cash. Reco
Tema [17]

Answer:

1. Cash                                                          Debit    $ 47,000

 Accumulated Depreciation equipment   Debit  $ 40,800

 Gain on sale of equipment                       Credit                       $  11,000

 Equipment                                                  Credit                      $ 76,800

To record sale of equipment for $ 47,000 and gain on sale of $ 11,000

2. Cash                                                          Debit    $ 36,000

  Accumulated Depreciation equipment   Debit   $ 40,800

  Equipment                                                 Credit                          $ 76,800

To record sale of equipment for $ 36,000

3.  Cash                                                          Debit    $ 31,000

  Accumulated Depreciation equipment   Debit    $ 40,800

  Loss on sale of equipment                       Debit    $   5,000

  Equipment                                                  Credit                          $ 76,800                        

To record sale of equipment for $ 31,000 and loss on sale of $ 5,000

Explanation:

Computation of net book value

Cost of equipment                                                                             $ 76,800

Less: Accumulated depreciation                                                     $ 40,800

Net book value                                                                                  $ 36,000      

In first step where the equipment is sold of $ 47,000, the differential between the sale value and the net book value is the gain on sale and is credited in the accounting entry.

In the second step, where the equipment is sold for $ 36,000, the sale proceeds is exactly equal to the net book value and no gain or loss is recorded.

In the third step, the equipment is sold for $ 31,000 and the differential  between the net book value and the sale proceeds is a loss and recorded as a debit in the accounting entry

4 0
3 years ago
Ben makes an appointment for a $50 haircut, buys a bike for $250, and agrees to work for Coding Associates for one year for $5,0
galina1969 [7]

Answer:

The correct answer is d. ​none of the choices.

Explanation:

A contract is an agreement, usually written, although it can also be spoken, by which two or more parties mutually commit themselves to respecting and fulfilling a series of conditions. It is a type of legal act involving two or more people and is intended to create rights and generate obligations, therefore transmitting rights and obligations to the parties that sign it.

It is governed by the principle of autonomy of the will, according to which, it can be hired on any subject not prohibited. The contracts are perfected by mere consent and the obligations arising from the contract have the force of law between the contracting parties.

Currently the contract is an economic instrument to negotiate, to meet needs. Contracts are used to agree on services, products, locations, among others.

4 0
3 years ago
Independent risks can be diversified by holding a large number of uncorrelated assets with independent risks.
iVinArrow [24]
The statement "<span>Independent risks can be diversified by holding a large number of uncorrelated assets with independent risks." is true. 

Thank you for posting your question here at brainly. I hope the answer will help you. Feel free to ask more questions.
</span>
8 0
3 years ago
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