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3 years ago

If you were a business owner, which one would be more important to you (making money or being happy)?

Business

2 answers:

OleMash [197]3 years ago

5 0

Answer:

being happy

Explanation:

djyliett [7]3 years ago

4 0

Answer:

being happy

Explanation:

Becuase if you just work to get money and your not happy gtthen your not doing it becuase you like it.

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Scarbrough Corp. factored $600,000 of accounts receivable to Duff Corp. on October 1, year 2. Control was surrendered by Scarbro

Illusion [34]

Answer:

c.$538,685

Explanation:

Calculation to determine what Scarbrough will receive and record cash of

Receivables $600,000

Less: Amount of the hold back ($30,000)

($600,000 x 5%)

Less: Withheld as fee income ($18,000)

($600,000 x 3%)

Less: Withheld as interest expense ($13,315)

($600,000 × 15% × 54/365)

Cash $538,685

Therefore Scarbrough will receive and record cash of: $538,685

5 0

3 years ago

Sparky Corporation uses the FIFO method of process costing. The following information is available for February in its Molding D

love history [14]

Answer:

The cost per equivalent unit of materials is $2.28

Explanation:

The Concept of Equivalent units measures the number of units complete to the extent of the input elements added during production.

The FIFO method in Process costing Accounts for Costs only incurred during the Manufacturing Period. Also, The Opening Work In Process is Assumed to be completed first.

The First Step is to Calculate the Total Equivalent Units of Production for Raw Materials :

To finish Opening Work In Process (34,000 × 0%) = 0

Started and Completed ((153,000 - 34,000) × 100% ) = 119,000

Closing Work In Process (34,500 × 100%) = 34,500

Total Equivalent Units of Production = 153,500

The Next and Final Step is to calculate the cost per equivalent unit of materials.

Cost per equivalent unit = Total Cost During the Current Period / Total Equivalent Units of Production

= $349,625 / 153,500

= $2.2776872

= $2.28 (2 decimal places)

Conclusion :

The cost per equivalent unit of materials is $2.28

7 0

2 years ago

What are the accounting differences between cash and receivables from the perspective of a buyer? A seller? How are these differ

bogdanovich [222]

Answer:

From a buyer's perspective, a sale made on credit represents a liability. While a sale made on cash represents a decrease of current assets.

From a seller's perspective, a sale made on credit or cash increases current assets, but the possibility of a bad debt always exist, therefore, accounts receivables must be periodically adjusted due to bad debts.

If the seller or buyer uses accrual accounting system, the previous description holds, but if they use cash basis accounting, things change a lot. When use cash basis, transactions are recorded only when cash is exchanged, so accounts receivables do not actually increase assets (seller's perspective), and accounts payables do not increase liabilities (buyer's perspective).

6 0

2 years ago

Company Z's CPP has a Products and Completed Operations aggregate limit of $100,000, with a $20,000 limit for each occurrence. F

drek231 [11]

Answer:

65000$ remains available for complete operation losses.

Explanation:

$20,000 of the $25,000 loss is paid by the policy. The $15,000 loss is paid in full. Together these payments reduce the $100,000 aggregate limit to $65,000.

Calculation

100,0000-20,000-15,000 = 65,000 $.

8 0

3 years ago

A direct participation program shows the following operation results: Revenues: $3 million Operating expense: $1 million Interes

stiks02 [169]

Answer:

The cash flow from program operation is $1,600,000.

Explanation:

Prepare the Cash Flow from Operating Activities Section to determine the cash flow from program operation.

Cash Flow from Operating Activities

Revenue $3,000,000

Less Expenses :

Operating Expenses $1,000,000

Interest expense $200,000

Management fees $200,000

Depreciation $3,000,000 ($4,400,000)

Operating Profit / (Loss) ($1,400,000)

Add Back Depreciation $3,000,000

Operating Cash flow $1,600,000

3 0

2 years ago