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Tomtit [17]
3 years ago
12

Which of the following BEST represents a mission​ statement? A. Our goal is to honor and empower wounded warriors. B. We strive

to be the worldwide leader in sharing delicious tastes and creating joyful memories. C. We envision a world in which all people dash even in the most remote areas of the globe dash hold the power to create opportunities for themselves and others. D. We strive to​ design, build, and sell the​ world's best vehicles. E. We strive to be a highly productive and deeply humane company.
Business
1 answer:
BabaBlast [244]3 years ago
4 0

Answer:

B. We strive to be the worldwide leader in sharing delicious tastes and creating joyful memories

Explanation:

There are two concepts i.e mission and vision. The mission statement is the statement in which it talks about the company goals and objective that represent the present condition of which market should be targeted, its geographical location, etc

While on the other hand the vision statement refers to position of the company in the future. It is always for the long term as it is always thinking for the future where the company what to be.

Based on the above explanation, the option B is correct as it depicts the mission statement.

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All of the current year's entries for Zimmerman Company have been made, except the following adjusting entries. The company's an
lianna [129]

Answer:

1) adjusting entries

a. On September 1 of the current year, Zimmerman collected six months' rent of $8,520 on storage space. At that date, Zimmerman debited Cash and credited Unearned Rent Revenue for $8,520.

Dr Unearned rental revenue 5,500

    Cr Rental revenue 5,500

b. On October 1 of the current year, the company borrowed $13,200 from a local bank and signed a one-year, 12 percent note for that amount. The principal and interest are payable on the maturity date.

Dr Interest expense 396

    Cr Interest payable 396

c. Depreciation of $3,000 must be recognized on a service truck purchased in July of the current year at a cost of $24,000.

Dr Depreciation expense 3,000

    Cr Accumulated depreciation 3,000

d. Cash of $3,600 was collected on November of the current year, for services to be rendered evenly over the next year beginning on November 1 of the current year. Unearned Service Revenue was credited when the cash was received.

Dr Unearned service revenue 600

    Cr Service revenue 600

e. On November 1 of the current year, Zimmerman paid a one-year premium for property insurance, $9,960, for coverage starting on that date. Cash was credited and Prepaid Insurance was debited for this amount.

Dr Insurance expense 1,660

    Cr Prepaid insurance 1,660

f. The company earned service revenue of $4,200 on a special job that was completed December 29 of the current year. Collection will be made during January of the next year. No entry has been recorded.

Dr Accounts receivable 4,200

    Cr Service revenue 4,200

g. At December 31 of the current year, wages earned by employees totaled $13,700. The employees will be paid on the next payroll date in January of the next year.

Dr Wages expense 13,700

    Cr Wages payable 13,700

h. On December 31 of the current year, the company estimated it owed $490 for this year's property taxes on land. The tax will be paid when the bill is received in January of next year.

Dr Property taxes expense 490

    Cr Property taxes payable 490

2) Assets     = Liabilities + Stockholders’     Revenues - Expenses = Net

                                          Equity                                                          Income

a.    na               -                    +                           +               na                +

b.    na               -                    -                           na              -                   -

c.     -               na                   -                           na              -                   -

d.    na               -                    +                           +               na                +

e.     -               na                   -                           na              -                   -

f.      +              na                   +                           +               na                +

g.    na              +                    -                            na             -                   -

h.    na              +                    -                            na             -                   -

4 0
3 years ago
you expect it to pay a dividend of $3 in 1 year, $4.25 in 2 years, and $6.00 in 3 years. You expect to sell the stock for $100 i
Rus_ich [418]

Answer:

$81.52

Explanation:

In this question, we are asked to state the price to pay for a stock at this present day.

To calculate this, we compute it mathematically.

Mathematically, we have;

dividend/(1+required return rate)^year

we then add together

we have

=3/(1.12) + 4.25/(1.12)^2 + 6/(1.12)^3 + 100/(1.12)^3 = 81.52

7 0
3 years ago
A local college is deciding whether to conduct a campus beautification initiative that would involve various projects, such as p
Jet001 [13]

Answer:

Students believe that if the initiative does not happen, the funds for the initiative will not be spent elsewhere.

Explanation:

The visual appearance is both non rival and non excludable I.e. Pure public good

Benefit is 17*490=8.330

Benefit is greater than cost so college administrators should undertake the beautification initiative

7 0
3 years ago
Overhead includes all except _____________________.
Irina-Kira [14]

Answer:

B) Rent

Have an excellent day!!!

8 0
3 years ago
This information is available for the Automotive and Other Operations Divisions of General Motors Corporation for 2006. General
Paraphin [41]

Answer:

A. Inventory turnover ratio = 5.927

B. Current ratio = 0.95

C. Current ratio after adjusting for the LIFO reserve =  0.97

Explanation:

Requirement A

We know,

Inventory turnover ratio = Cost of goods sold ÷ Average inventory

Given,

Cost of goods sold = 164,682

Average inventory = Beginning inventory + Ending inventory

Average inventory = $13,862 + $13,921

Average inventory = $27,783

Putting the values into the formula, we will get

Inventory turnover ratio = Cost of goods sold ÷ Average inventory

Inventory turnover ratio = $164,682 ÷ $27,783

Inventory turnover ratio = 5.927

We know,

Days in inventory = $365 ÷ $5.927

Days in inventory = 61.6 days

Requirement B

We know,

Current ratio = Current asset ÷ Current liabilities

Given,

Current asset = $64,131

Current liabilities = $67,822

Putting the values into the formula, we can get

Current ratio = Current asset ÷ Current liabilities

Current ratio = $64,131 ÷ $67,822

Current ratio = 0.95

We know,

The current ratio shows us how a company pays its current liabilities.

We assume the inventory is reported in the current asset using the LIFO method.

Requirement C

We know,

Current ratio after adjusting for the LIFO reserve = (Current asset + LIFO reserve) ÷ Current liabilities.

Given,

Current asset = $64,131

LIFO reserve = 1,508

Current liabilities = $67,822

Putting the values into the formula, we can get

Current ratio after adjusting for the LIFO reserve = (Current asset + LIFO reserve) ÷ Current liabilities

Current ratio after adjusting for the LIFO reserve = ($64,131 + 1,508) ÷ $67,822

Current ratio after adjusting for the LIFO reserve = 65,639 ÷ $67,822 = 0.97

Current ratio after adjusting for the LIFO reserve =  0.97

8 0
3 years ago
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