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3 years ago

11

Custom Quilters makes decorative comforters, quilted garments, and other products in a small sewing factory. The company expects

to make 2,000 comforters during the current year. With respect to the comforters, how would the supervisory salaries be classified

1 answer:

Ronch [10]3 years ago

4 0

You would have to divide

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As the controller of newton consulting, you have hired a new employee, whom you must train. she objects to making an adjusting

katrin [286]

Answer:

The new employee is WRONG because of the accounting principle of the matching concept

Explanation:

At the end of the month before closing the books, all expenses and revenue relating to that month must be captured. This helps the organisation to know how much costs it has incurred for that period. If the expense is delayed until payment before recording, it will not give a true picture of the monthly expenses.

The matching concept explains and underscores the accounting practice of recognizing revenues and related expenses within the same accounting period. The purpose of doing so is to avoid 'mismatching' which will lead to misstating the earnings for a period.

Moreover that practice will be against Accrual Basis of Accounting

5 0

3 years ago

Which of the following is typically the case for companies that operate in product markets where there is relatively little comp

Igoryamba

Answer:

Which of the following is typically the case for companies that operate in product markets where there is relatively little competition from other companies?

C) higher wages and higher profits

Explanation:

A situation where different organizations are striving to sell the same product is known as competitive markets. When the number of companies selling the same product is small, then we can say that the market has little competition from other companies. A market that has little to no competition has the following qualities;

1. Reduced efficiency

In a market where companies operating in a market have little competition, the efficiency in terms of processing time, and overall quality of finished products is very low since the demand for products is guaranteed whether the product is of high quality or not. The customers have no other choice but to buy from them.

2. Higher profits

In markets that there is little competition, the companies are always few. This means that the market share per company is relatively bigger than other markets. Bigger market shares translates to increases sales, thus higher profit margins.

3. Higher wages

Companies that have higher profits as a result of bigger market shares tend to pay their employees higher wages since the available disposable income is high.

6 0

3 years ago

Jim bought a new car. He donated his old car to charity. Can he claim the car he donated as a deduction on his income tax? Expla

ANTONII [103]

He can claim the car he donated as a deduction on his income tax.
But he can't get a deduction of $1 for $1 there it is like a quarter or something.

This is as charitable donations reduce his total income in terms of taxes for the year. So he can claim it as a deduction on his income tax.<span />

4 0

3 years ago

Read 2 more answers

The automobile company announced that the average price of next year's models would decrease four-tenths of one percent, amounti

BlackZzzverrR [31]

Answer:

Option A is wrong because it compares the average price to both cars and trucks. This makes this option wrong.

Option B is the preferred option because of the use of "that" which means the average price, making the comparison to be appropriate.

Option C uses "below", making the sentence redundant and hence its eliminated.

Option D is wrong because it compares models to the company itself.

Option E also compares and/or contrasts cars and trucks with the company itself, hence this option is also wrong.

Explanation:

6 0

4 years ago

Stanford owns and operates two dry cleaning businesses. He travels to Boston to discuss acquiring a restaurant. Later in the mon

Julli [10]

Answer:

$2,077.78

Explanation:

As for the provided information:

As the restaurant was not acquired, cost related to acquisition of restaurant will not be considered:

That is $36,750 is not eligible for any deduction.

Now expenses for considering the bakery $53,500 will not be allowed all at once.

Now there is deduction of $5,000 which shall be reduced from $ to $ for exceeding $50,000

Reduced = $53,500 - $50,000 = $3,500

$5,000 - $3,500 = $1,500 deductions.

Now, $53,500 - $1,500 = $52,000 is the deduction allowed in 180 months

Deduction per month = $288.88 per month

Deduction for 2 months will be = $288.88 $\times$ 2 = $577.78

Therefore, eligible deduction = $577.78 + $1,500 = $2077.78

8 0

3 years ago