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3 years ago

Sheffield Company discovered the following errors made in January 2022.

Business

1 answer:

Tasya [4]3 years ago

4 0

Answer:

1. Dr Cash 400

Cr Equipment 400

Dre Wages expense 400

Cr Cash 400

2. Dr Service revenue 550

Cr Cash 550

Dr Cash 5,500

Cr Service revenue 5,500

3. Dr Accounts payable 260

Cr Equipment 260

Dr Equipment 620

Cr Accounts payable 620

1. Dr Wages expense 400

Cr Equipment 400

2. Dr Cash 4,950

Cr Service revenue 4,950

3. Dr Equipment 360

Cr Accounts payable 360

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Many cities in southeast Michigan are struggling with financial problems due to current economic conditions. At the same time, s

asambeis [7]

The best and most correct answer among the choices provided by the question is the third choice. The direct result of the problems is that less city workers to plow the streets causing an increase in the number of car accidents during the winter months. I hope my answer has come to your help. God bless and have a nice day ahead!

3 0

3 years ago

Managers today need to look past traditional viewpoints in determining the success of their company's strategy. One such approac

bogdanovich [222]

Answer:

The Balanced Scorecard

Customer satisfaction:

Perspective: Customer: This perspective concentrates on things like customer service.

Goal: Service: This would be the level of customer service.

Measure: How do our customers see us? Survey: This would be the results of an online customer satisfaction survey.

Internal processes:

Perspective: Internal business: This perspective focuses on the things that a company has to do internally to meet and exceed customer expectations.

Goal: Productivity: This would concentrate on changes to the process involved in production.

Measure: How do we look to our shareholders? Analysis: This would use data from the ERP system to look into success levels of company processes.

Innovation and improvement activities:

Perspective: Innovation and Learning: This perspective is concerned with making sure employees learn and grow so they can continually innovate.

Goal: Training: This would focus on providing enhanced training opportunities for employees.

Measure: What do we need to excel at? Results: This would look at changes in the skill level of employees.

Financial measures:

Perspective: Financial: This perspective has to do with the conversion of performance into financial performance and the creation of value.

Goal: Growth: This would concentrate on an increase in sales.

Measure: Can we continue to improve and create value? Sales: This would be the annual sales figures.

Explanation:

The balanced scorecard which Bryan is developing for KanO Mines helps KanO Mines to understand how to create value in the organization. With the balanced scorecard as a strategic planning and management tool, organizational goals are communicated to KanO Mines, so that his daily activities are aligned with the organizational strategy. It also helps him to prioritize his projects, products, and services. The balanced scorecard does not only deal with perspectives and goals, it also helps KanO Mines and his manager, Bryan, to measure and monitor his progress towards achieving the set organizational strategic goals.

4 0

3 years ago

In a perfectly competitive market, all producers sell identical goods or services. Additionally, there are many buyers and selle

V125BC [204]

Answer:

True

Explanation:

In a perfectly competitive market, all producers sell identical goods or services. Additionally, there are many buyers and sellers. Because of these two characteristics, both buyers and sellers in perfectly competitive markets are price takers. Market price is set by the forces of demand and supply.

If the seller attempts to set his own price and sets it above the market price, the seller would lose all its customers and make zero sales.

If the seller attempts to set his own price and sets it below the market price, the seller would make losses .

I hope my answer helps you.

7 0

3 years ago

At the heart of any marketing program is the firm's ________, its tangible offering to the market A. value B. strategy C. produc

Lelechka [254]

Answer: (C) Product

Explanation:

A marketing program is one of the type of business strategy in which the various types of activities are get performed for achieving the main objective of the business in an organization.

It is basically consist of the various types of plans, strategies and the activities in which the product of the company is promoted in the market.

The marketing programs plays an important in the business as it helps in establishing the good relationship with the customers where the products are offered in the market.

Therefore, the firm product is known as the heart of the marketing program that are tangible offer in the market.

6 0

3 years ago

On March 31, 2018, Susquehanna Insurance purchased an office building for $11,700,000. Based on their relative fair values, one-

irakobra [83]

Answer:

2018:

building: 296,400

Furniture and fixtures: 270,000

Office Equipment: 340,000

Total: 906,400

Explanation:

11,700,000 1/3 to land: 3,900,000

11,700,000 2/3 to building: 7,800,000

Office Equipment: 204,000

Total: 11,904,000

Building depreciation: 

(historic cost - salvage value)/useful life

(7,800,000 - 7,800,000 x 5%)/25 = 296,400

As this is straight-line depreciation will be constant for both years.

Furniture and fixtures: double-declining

the assets depreciate at a rate double of straight line of the carrying value

carring value: 2/useful life

2018: 1,350,000 x 1/10 x 2 = 270,000

2019: (1,350,000-270,000) x 1/10 x 2 = 216,000

Office Equipment: double-declining

2018: 850,000 x 2/5 = 340,000

2019: (850,000 - 340,000) x 2/5 = 204,000

3 0

3 years ago