Answer:
A. $45,000 in its capital account on the Year 1 balance sheet
Explanation:
The company starts operation on January 1. During the year 1 company acquired capital of $40,000. During the year 1 company earned net income of $20,000 and the owner withdrew $15,000 from the business. Net income should be added and withdrawals should be deducted from the capital acquired by the company. Hence, the capital account balance on the year 1 balance sheet is $45,000.
Answer:
Managerial accounting systems differ across companies depending on the nature of the business and the arrangement of its internal operations.
Explanation:
Managerial accounting also known as cost accounting is an accounting technique focused on identification, measurement, analyzing, interpretation, and communication of financial information to managers for better decisions making and pursuit of the organization's goals.
Flexibility of practice when applied to managerial accounting means that managerial accounting systems differ across companies depending on the nature of the business and the arrangement of its internal operations.
This ultimately implies that, managerial accounting is specific to a particular business organization i.e the managerial accounting model used by a company would be different from the one used by another.
Answer:
$62,500
Explanation:
Budgeted variable cost /hr = $5
Budgeted fixed cost for maintenance = $30,000
Actual fixed cost = $36,000
Actual variable cost = $100,000
Assembly capacity = 20,000hrs
Actual capacity used = 15,000hrs
Finishing capacity =15,000 hrs
Actual capacity used = 9000 hrs
Assembly plant variable cost allocation = 15/24*100000
=$62,500
Answer:
1. False
2. True
3. False
4. False
Explanation:
1. Associate degree
2. A masters in business administration would be an asset to someone wanting to run a business
3. A minor is a great way to augment skills
4. There is also a bachelors of fine arts