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3 years ago

At the end of a fiscal period, expense accounts are closed through

Business

1 answer:

emmasim [6.3K]3 years ago

3 0

Answer:

see the explanation

Explanation:

The temporary accounts get closed at the end of an accounting year. Temporary accounts include all of the income statement accounts (revenues, expenses, gains, losses), the sole proprietor's drawing account, the income summary account, and any other account that is used for keeping a tally of the current year amounts.

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A business process consists of one or moreâ _______, many of which are supported by information systems.

Pani-rosa [81]

The answer is A operations

6 0

3 years ago

As a graphic artist, Randy has just finished a new calendar. The calendar cost him $1.00 for the glossy paper, $3.00 for the six

Yanka [14]

Answer:

Break-even units = 66.67 units

Explanation:

Break-even point is the level of activity that achieves no profit or loss. At this level profit is zero because the the total revenue is equal to total cost.

The break-even point is calculated as

Units to achieve target profit = (Total general fixed cost for the period + target profit)/ contribution per unit

Contribution per unit = Selling Price - Variable cost

Contribution per unit = 15- (1+3+0.50) = 10.5

Fixed cost = 500 +( 50× 4) = 700

So the units requited to achieve break-even point:

Break-even point = 700/10.5

= 66.67 units

4 0

3 years ago

Your boss asks you to compute the company's cash conversion cycle. looking at the financial statements, you see that the average

EleoNora [17]

Cash conversion cycle is an efficiency ratio which measures the number of days for which a companyâ€™s cash is tied up in inventories and accounts receivable. It is aimed at assessing how effectively a company is managing its working capital. Formula Cash Conversion Cycle = DSO + DIO â€“ DPO Where, DSO is days sales outstanding = Average Accounts Receivable Ă— 365 Ă· Credit Sales DIO is days inventory outstanding = Average Inventories Ă— 365 Ă· Cost of Goods Sold DPO is days payables outstanding = Average Accounts Payable Ă— 365 Ă· Cost of Goods Sold DSO=(97,900*365)/324,000=110.2 DIO=(126,300*365)/282,000=163.5 DPO=(115,100*365)/282,000=149 Cash Conversion Cycle = DSO + DIO â€“ DPO Cash Conversion Cycle = 110.2+163.5-149=125(Approx)

7 0

3 years ago

Fresh Veggies, Inc. (FVI), purchases land and a warehouse for $550,000. In addition to the purchase price, FVI makes the followi

maw [93]

Answer:

Land 594,500

Explanation:

We must include all cost necessary to acquire the land and lelave it ready to use.

But, the demolition cost are associate with the old warehouse thus, as thsis asset is being destroyed It will be considered period cost, It will not be capitalized through land.

Acquisition cost 550,000

broker commission 35,000

title insurance 2,500

closing cost 7,000

Total cost 594,500

8 0

3 years ago

On July 1, an investor holds 50,000 shares of a certain stock. The market price is $30 per share. The investor is interested in

Yakvenalex [24]

Answer:

The strategy the investor should follow is to short 26 contracts of September Mini S&P 500 futures.

Explanation:

Provided information;

Amount of shares of a certain stock =50,000

The market value per share = $30

Portfolio value= P = 50,000 × 30 = $1,500,000

Beta of stock β = 1.3

current Index futures price = 1,500

Multiplier = $50

Futures Value A = 1,500 × 50 = $75,000

The formula used in calculating the number of contracts =

Number of contracts N = (β × P) ÷ Future values

N = (1.3 × $1500000) ÷ $75000

N = $1950000 ÷ $75000

Number of contracts N = 26

The strategy the investor should follow is to short 26 contracts of September Mini S&P 500 futures.

5 0

3 years ago