Answer and Explanation:
The classification is as follows
For case 1
It is a growing start-up company (S) with the following reasons
a. The cash flow from operating activities is very less as compared to the financing and investing activities
b. It is a start company so in this case the financing and investing activities are more
c. Moreover, the beginning cash balance is also less
For case 2
It is an established company facing financial difficulties (F) with the following reasons
a. The operating activity is in a negative amount
b. It is an established company so it facing a lot of difficulties
c. Net cash flow is also in negative
For case 3
It is a healthy established company (E) with the following reasons
a. The operating activity is in a positive amount
b. Since it is a healthy established company so it shows the positive net cash flow and strong cash position
True, an ethics officers' role is to act as a counsellor for employees as well as an investigator for the firm.
The Ethics Officer is the company's inner or internal control point for ethical and improper conduct, allegations, objections, and improprieties, as well as providing leadership and guidance on corporate governance problems.
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Answer:
C. Finished Goods Inventory has decreased.
Explanation:
Cost of goods manufactured (COGM) increases when finished goods inventory is <em>produced</em>, while cost of goods sold (COGS) increases when finished goods inventory is <em>sold</em>. If COGS has been increasing faster than COGM has been increasing, the company has been selling more goods than it has been producing. Therefore, it must have sold goods from its surplus of finished goods inventory. Thus, finished goods inventory has decreased.
Answer:
Dr. Cr.
Sales, $56,000
Income Summary $56,000
<u> </u>
Dr. Cr.
Income Summary $52,500
Sales Returns and Allowances $3,000
Sales Discounts, $1,500
Depreciation Expense, $25,000
Salaries Expense, $23,000
<u> </u>
Explanation:
Cash, Equipment, Accumulated Depreciation, Accounts Payable, Owner Capital and Owner Withdrawals are all permanent accounts. These accounts will not close and do not need any closing entry.
