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3 years ago

Question 3 of 10

Business

1 answer:

Varvara68 [4.7K]3 years ago

4 0

Answer:

A. citizens tend to have greater confidence in the economy.

Explanation:

When a nation's standards of financial reporting are transparent and effective, by extension, the citizens tend to have greater confidence in the economy.

This is because when the government are transparent about the financial affairs of the nation, the citizens are confident in the economy

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Jumpin Corporation uses the percentminusofminussales method to estimate uncollectibles. Net credit sales for the current year am

Fudgin [204]

Answer:

The amount of Uncollectible Account Expense reported on the income statement will be: $ 64,800

Explanation:

Jumpin Corporation

Percent of Sales method

Net credit sales $ 2 100 000,

Un collectible estimated 3%

Un collectibles Accounts = 3% of $ 2 100,000, = $ 63,000

Unadjusted Allowance for Un collectible Accounts $ 1, 800 Dr.

Required Adjustment = $ 64,800

The amount of Un collectible Account Expense reported on the income statement will be: $ 64,800

In the percent of sales method emphasis is laid on the matching principle in the income statement and amount of bad debts expense is subtracted from the accounts receivables.

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3 years ago

Use the following information to prepare a multistep income statement and a classified balance sheet for Eller Equipment Co. for

Kryger [21]

Answer:

Eller Equipment Co.

Income statement

Particular Amount($) Amount ($)

Sales revenue 940,000

Less: Cost of good sold (595,000)

Gross margin 345,000

Operating expenses

Salaries expenses 122,000

Operating expenses 65,000

Warranty expenses 9,200

Un-collectible account expenses 45,000

Depreciation expenses 3,000

Total operating expenses (244,200)

Operating income 100,800

Non-operating expenses

Interest revenue 6,200

Interest expenses (36,000)

Gain on sale of equipment 19,000

Total non-operating items (10,800)

Net Income $90,000

Balance Sheet

Assets Amount$

Current Assets

Cash 41,000

Accounts receivable 108,000

Less: Allowance for doubtful (19,000) 89,000

accounts

Merchandise inventory 101,000

Interest receivable 3600

Prepaid rent 38,000

Supplies 6,500

Notes receivable 32,500

Total current assets 311,600

Property Plant and Equipment

Equipment 243,000

Less: Accumulated depreciation (66,000) 177,000

Land 95,000

Total property plant and equipment 272,000

Total Assets 583,600

Liabilities and Stockholder Equity

Current liabilities

Account payable 55,000

Unearned revenue 47,000

Warranties payable 6,500

Interest payable 6,000

Salaries payable 68,000

Total current liabilities 182,500

Long-term liabilities

Notes payable 160,000

Total long-term liabilities 160,000

Stockholders equity

Common stock 110,000

Retained earning 131,100

Total stockholders equity 241,100

Total liabilities and stockholders equity $583,600

Workings

Retained earning = Beginning retained earning + Net income - Dividend

= 61,100 + 90,000 - 20,000

= 131,100

5 0

3 years ago

Another word for Interpersonal Communication is Question 2 options: a) face-to-face communication b) dyadic communication c) par

SpyIntel [72]

Another word for interpersonal communication is FACE TO FACE COMMUNICATION. The correct option is A.

Interpersonal communication is a face to face communication process through which people exchange information and express their feelings either verbally or non verbally. Interpersonal communication is a two way communication and the skill of listening is very important in this type of communication. Face to face communication plays a crucial role in building up and maintaining relationships with people. It is a very important concept which one must master in order to be a good team player and a sociable person.

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3 years ago

Which of the following positions refers to a functional manager

lbvjy [14]

The where’s the picture !!

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3 years ago

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A firm spends a great deal of money in advertising to inform consumers of the brand name of its mushrooms. Should consumers conc

djyliett [7]

Answer: B. Yes. Branding allows the mushrooms to be easily identified in the future. Thus, if they were of inferior quality, the company would lose customers and go out of business over time.

Explanation:

Branding is a way of making sure that your product is easily identifiable over other products.

When a company brands it's goods, they are trying to create Brand Awareness and this usually happens when a company plans to stay in a business for a while and indeed with the way the Firm is spending a lot of money on Advertising, one can surmise that they do indeed plan to stay in the business because they have spent a lot.

It would therefore make little to no sense on their part to spend such huge amounts of money to build their brand if their products will be of low quality. The mushrooms have to be of high quality so that people may associate their brand with High Quality.

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3 years ago