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Mkey [24]
3 years ago
5

Marigold Company discovered the following errors made in January 2022.

Business
1 answer:
lys-0071 [83]3 years ago
4 0

Answer:

A. Reversals entry

1. Dr Cash 900

Cr Equipment 900

Correct entry

Dr Wages and salaries 900

Cr Cash 900

B.

2. Dr Cash 5850

Dr Service revenue 650

Cr Account payable $6,500

3. Dr Accounts payable 360

Cr Equipment 360

Explanation:

A. To Correct the errors by reversing the incorrect entry and Preparation of the correct entry.

Reversals entry

1. Dr Cash 900

Cr Equipment 900

Correct entry

Dr Wages and salaries 900

Cr Cash 900

B. To Correct the errors without reversing the incorrect entry

2. Dr Cash 5850

($6500-650)

Dr Service revenue 650

Cr Account payable $6,500

3. Dr Accounts payable 360

(510-150)

Cr Equipment 360

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Axle Co.'s accounts receivable turnover was 9.9 for this year and 11.0 for last year. Betterman's turnover was 9.3 for this year
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Answer: Axle has the better turnover for both years.

Explanation:

Accounts Receivable Turnover ratio is used to measure the amount of times in a year that a company is able to collect payment from it's Receivables.

A higher Accounts Receivable Turnover ratio indicates that the company is doing well in collecting their Receivables and as such are not trying down working capital because it is not be reinvested to put back into the business.

Axle had a Turnover ratio of 11 last year and a Turnover of 9.9 this year which is better than Betterman in both years. This means that Axle had the best Turnover for both years.

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The VP of Sales is using Collaborative Forecasting to track sales rep quote attainment. The VP wants to be notified when sales r
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Answer:

Workflow rule

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2 years ago
If you had $1,000 to invest into the following funds, which one would have the highest value (not including any fees) at the end
labwork [276]

Investment = $1,000

Green Fund:

Year 1 = -0.095 * 1000 = - $95

Amount after 1 year = $905

Year 2 = 0.1 * 905 = $90.5

Amount after 2 year = 905 + 90.5 = $995.5

Purple Fund:

Year 1 = 0.1 * 1000 = $100

Amount after 1 year = 1000 + 100 = $1100

Year 2 = -0.095 * 1100 = $104.5

Amount after 2 year = 1100 – 104.5 = $995.5

Yellow fund:

Year 1 = 0.3 * 1000 = $300

Amount after 1 year = 1000 + 300 = $1300

Year 2 = -0.25 * 1300 = $325

Amount after 2 year =1300 – 325 = $975

Orange Fund:

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Amount after 2 year = $1000

<span>Thus Orange Fund has the highest value at the end of the second year.</span>

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3 years ago
A good marketing plan helps managers make strategic planning decisions and provides a framework for effective implementation and
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A good marketing plan helps managers make strategic decisions and provides a framework for effective implementation and control.

<h3>What are implementation and control?</h3>
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  • The process of putting plans into practice to achieve the desired outcome is known as strategy implementation. In essence, it's the art of accomplishing things. Every organization's ability to carry out choices and crucial procedures effectively, consistently, and efficiently determine how successful it will be.
  • Implementation control typically establishes performance standards, assesses actual performance, and identifies the reasons why these standards weren't met. Implementation controls also include timelines, budgets, and milestones.
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A good marketing plan helps managers make strategic decisions and provides a framework for effective implementation and control.

To learn more about implementation and control, refer to:

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The major drawback of taking out a loan to start a company is?
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Answer: you have to pay back the loan once you start making money. in general you have to pay back the loan. everyone wants free money.

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