Answer:
Sheridan Company
The correct amount of inventory that Sheridan should report is:
= $367,100
Explanation:
a) Data and Calculations:
December 31 Inventory based on physical inventory = $320,800
Goods held on consignment by Herschel = 46,300
December 27, FOB destination goods ($22,000) 0
Correct amount of inventory that Sheridan should report $367,100
b) Goods on consignment are generally the property of the consignor (supplier) and not the consignee's (retailer's). Therefore, they must appear in the balance sheet of the consignor. Goods on FOB destination remain the property of the supplier until they reach the buyer's destination. This is why it is not included above.
Answer:
Financial accounting is the aspect of accounting that is concerned with the summary, analysis and reporting of financial transactions related to a business.
While managerial accounting is the aspect of accounting that is concerned with the identification, measurement, analysis, and interpretation of accounting information to help managers plan for the future, make decisions for the company, and determine if their plans and decisions were accurate and efficient.
1. Helps Creditors make lending decisions is related Financial Accounting.
2. Helps in planning and controlling operations is related to Managerial Accounting.
3. Is not required to follow GAAP is related to Managerial Accounting.
4. Has a focus on the future is related to Managerial Accounting.
5. Summary reports prepared quarterly or annually is related to Financial Accounting.
Answer:
D) 75
Explanation:
Our initial production function is:
q = 305X - 2X²
we calculate the derivative of q:
(q') = 305 - 4X
MP = 305 - 4X
$10 / $2 = 305 - 4X
5 = 305 - 4X
4X = 305 - 5 = 300
x = 300 / 4
x = 75
Answer:
<u><em>Social Audit</em></u>
Explanation:
The Pak-It-Way Company makes custom packaging of all kinds . The firm has evolved into a big business due to quality and innovative work . Recently , top management asked company departments to list and evaluate the kinds of socially responsible efforts conducted internally and externally in the business and also to list negative occurrences that supervisors observed . Top management is essentially conducting a <u>social</u> <u>audit.</u>
<em>Social audit is an audit to examine how an organisation is behaving or working for its employees , society and environment.</em>
Social audit helps in encouraging the participation of the community , it also helps in encouraging the local democracy, it promotes the decision making and helps in developing the human resources.
Social audit has wide coverage , it is evaluated very systematically , it is always conducted in a regular period of time , it measures the social performance of the organisation towards its employees society and the environment. But social audit is difficult to conduct.
Answer:
<u>Environmental forces.</u>
Explanation:
Environmental forces refer to the entire macroenvironment in which the company is inserted, so they are forces that the organization cannot control, so in order to survive in the market, the company must adapt and monitor environmental forces.
The political, legislative, economic, social, competitive and technological forces, which are the forces that make up the company's macroenvironment, are extremely changeable, so the importance of being constantly monitored, as they may include relevant challenges for the company, such as entry new competitors in the market, legislative and other changes.
But they can also set great growth opportunities, and improve decision-making based on available information from environmental forces.
