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3 years ago

You are relatively new to the company and have been asked to chair the next senior management meeting.

1 answer:

4 0

Firstly, the purpose of the meeting has to be known. As the person who is going to chair the meeting, the knowledge about the purpose of the meeting is essential. Then, it should also be known whether:
1.the meeting is formal or informal,
2.who will be attending the meeting,
3.what agendas should be distributed and how
4.who will set up and organise the venue (the chairperson often does not do this)
5.what information you need to provide for them and
6.who speakers or presenters for the meeting are
7. who should be asked to take minutes and how you will distribute whether there are any legal requirements to consider

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Bingerton Industries uses a perpetual inventory system. The company began the year with inventory of $77,000. Purchases of inven

SVETLANKA909090 [29]

Answer:

Refer explanation

Explanation:

1. Purchase of Inventory ($302000)

This transaction has occurred on account which means that payment was not made immediately but would be made at a future date, thus a creditor to the business.

Debit : Purchases account : $302000

Credit : Accounts Payables account : $302000

2. Sale of inventory ($504000)

The sale of inventory requires two separate transactions. The sale is accounted and along with this, the amount of inventory sold would also have to be accounted as an asset reduction.

A. To reduce inventory:

Debit : Cost of Sales account : $327000

Credit : Inventory account : $327000

B. Record the sale:

Debit : Accounts Receivables account : $504000

Credit : Sales account : $504000

This too is a sale on account which means that a debtor has been incurred who will pay for the sale at a later date.

3 0

3 years ago

1. Wylie has been offered the choice of receiving $5,000 today or an agreed-upon amount in 1 year. While negotiating the future

g100num [7]

Answer:

14%

Explanation:

The computation of the tvom in percentage form is shown below:

Today price × (1 + interest rate) = Future value

$5,000 × (1 + interest rate) = $5,700

(1 + interest rate) = $5,700 ÷ 5,000

(1 + interest rate) = 1.14

So, the interest rate

= 1.14 -1

= 0.14 or 14%

Hence, the interest rate or TVOM i.e times value of money is 14%

5 0

3 years ago

Port Allen Chemical Company processes raw material D into joint products E and F. Raw material D costs $4 per liter. It costs $1

Sergeu [11.5K]

Answer:

a) Product G should be produced and sold

b) Net financial advantage $80

Explanation:

A company should process further a product if the additional revenue from the split-off point is greater than than the further processing cost.

Also note that all cost incurred up to the split-off point are irrelevant to the decision to process further .

Revenue after split-off point

($9× 40 litres) 360

Revenue at the slit of point

($4 × 40) (160)

Additional income from further processing 200

Further processing cost ($3× 40) (120)

Incremental income from further processing 80

Incremental income from further processing = $80

a) The product F should be processed further and sold as product G. Doing so would increase the net income by $80.

b) Net advantage $80

4 0

3 years ago

After WWII, which synthetic fabric began appearing in casual clothing?

inessss [21]

linen was a synthetic fabric

3 0

3 years ago

Read 2 more answers

Pick the correct statement related to pro forma statements from below. Multiple Choice Fixed assets must increase if sales are p

Alisiya [41]

Answer:

The correct statement related to the pro forma statements is:

The addition to retained earnings is equal to net income less cash dividends.

Explanation:

When the beginning retained earnings are increased by the addition to retained earnings, it means that the cash dividends have been subtracted from the net income. This addition is the leftover net income after offsetting the dividends. It increases the retained earnings by the end of the financial period.

3 0

2 years ago