All categories

3 years ago

Select the correct answer.

Business

1 answer:

Schach [20]3 years ago

3 0

Answer:

с. Purchases and Creditors

Explanation:

A goods account is hardly created in the general ledger. Accountants and bookkeepers use the purchases account to record goods bought by the company.

When a business makes purchases, it can either pay cash or in credit. Cash payments are recorded in the cash account. They reduce cash held by the business.

Credit purchases increase creditors and are recorded in the creditor's account.

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Here you go,

$33,000 in Fund A, $22,000 in Fund B.

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3 years ago

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The employees of an information technology company complain that the company has been spending a lot of funds in wasteful activi

Oksanka [162]

Options:

A. Public prosecutor

B. Government Accountant

C. Internal auditor

D. Public accountant

Answer: C. Internal Auditor.

Explanation: An Auditor is a professional whose main responsibility is to evaluate processes or systems in order to determine and expose areas where losses or failures are taking place in order to mitigate or correct these losses and failures. There are two types of Auditors, which includes INTERNAL AUDITOR (An Auditor employed by a firm to continuously audit its processes,accounts or system) and EXTERNAL AUDITOR(An Auditor contracted from external bodies in order to audit a firm).

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3 years ago

Zen Manufacturing Company is considering replacing a four-year-old machine with a new, advanced model. The old machine was purch

dedylja [7]

Answer:

$4,800

Explanation:

The computation of additional annual cash inflow is shown below:-

Saving in Annual Maintenance Cost by new machine = $15,000 - $6,000

= $9,000

Net savings on Maintenance = $9,000 × (1 - 0.4)

= $5,400

Decrease in Depreciation due to purchase of New machinery

= ($60,000 ÷ 10) - ($45,000 - 10)

= $6,000 - $4,500

= $1500

Tax to be paid due to decrease in Depreciation = Decrease in Depreciation due to purchase of New machinery × Tax rate

= $1,500 × 0.4

= $600

Net Annual cash Inflow due to new machinery = Net savings on Maintenance - Tax to be paid due to decrease in Depreciation

= $5,400 - $600

= $4,800

So, for computing the additional annual cash inflow we simply applied the above formula.

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3 years ago

On December 31 of Swift Co.’s first year, $70,000 of accounts receivable is not yet collected. Swift estimates that $4,000 of it

pishuonlain [190]

Answer:

1. $66,000

2. $66,000

Explanation:

The computations are shown below:

1. Before written off:

= Account receivable balance - uncollectible amount

= $70,000 - $4,000

= $66,000

2. After written off:

= Account receivable balance - second year written off amount - uncollectible amount + second year written off amount

= $70,000 - $700 - $4,000 + $700

= $66,000

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3 years ago

Ted's company has recently reorganized. He has been reassigned into a new role for which he feels unprepared, and he is not sure

Paul [167]

Answer:

These are the options for the question:

Peer pressure
Personality conflict
Climate of mistrust
Fear of failure

And this is the correct answer:

Fear of failure

Explanation:

Ted is afraid of failing at his new role, he is suffering from fear of failure. This is because Ted was accustomed to completing a set of tasks specific to his previous position in the company.

Now that the company has reorganized, he has been given a new position, and new tasks to complete, and he does not feel at ease at first, likely because he lacks first-hand experience with some of the tasks.

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4 years ago