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2 years ago

When a company prepares financial statements using standard costing, which items are reported at standard cost

Business

1 answer:

Dmitrij [34]2 years ago

7 0

Answer: Inventories and cost of goods sold.

Explanation:

Standard costing is used in accounting and it simply has to do with the substitution of the cost that's expected for a product with an actual cost when preparing financial statements.

The difference that's then between the actual costs and expected costs are then recorded as variance. It should also be noted that when a company prepares financial statements using standard costing, the items that are reported at standard cost will be Inventories and the cost of goods sold.

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Which of the following statements about annuities are true?

viktelen [127]

Answer:

A)The first cash flow of an annuity due is made on the first day of the agreement.

D)The last cash flow of an ordinary annuity is made on the last day covered by the agreement.

Explanation:

An annuity can be regarded as a series of payments which is made at an stable intervals. It can be classified based on the payment frequency. These could be monthly home mortgage payments,

It should be noted that in annuities,

✓The first cash flow of an annuity due is made on the first day of the agreement.

✓The last cash flow of an ordinary annuity is made on the last day covered by the agreement.

6 0

2 years ago

A company exhibits strategic intent when ______.

Tcecarenko [31]

Answer:

The correct answer is A. it relentlessly pursues an ambitious strategic objective, concentrating the full force of its resources and competitive actions on achieving that objective.

Explanation:

A strategic intention is the aspiration of a corporation that aims at its effective development in the long term, for this reason it must be an objective for which all personnel have appropriated. Normally, in order to reach this level, the company must go through a stage of recognition, analysis and projection where the market and growth expectations are taken into account in order to go in the best way for the benefit of both its internal and external users.

3 0

3 years ago

Read 2 more answers

A wealthy benefactor just donated some money to the local college. This gift was established to provide scholarships for worthy

Mariulka [41]

Answer:

Worth of scholarship today = $1,000,000

Explanation:

The value of the scholarship can be determined using the present value of a growing perpetuity. A growing perpetuity is an indefinite annual payment that increases by a constant percentage.

The applicable formula is given below;

PV = A/r-g

A-annual payment one year from now - 35,000

r- interest discount rate - 9.,

g- growth rate - 5.5

The value of the gifts today

= 35,000/(0.09-0.055)

= $1,000,000

5 0

3 years ago

Which of the following accounts would be increased with a Debit? (Choose all that apply)

iVinArrow [24]

Answer:

It would be C. If this question has more than one answer, then it would be C & E

Explanation:

7 0

3 years ago

A company uses a periodic inventory system and during the December 31, year-end physical inventory count discovered that they ha

never [62]

Answer:

Debit: Shrinkage expense $300

Credit: Inventory $300

Explanation:

When your business experiences shrinkage, you must adjust your accounting books. Record inventory losses by increasing your Shrinkage Expense account and decreasing your Inventory account.

Debit your Shrinkage Expense account and credit your Inventory account.

To adjust for shrinkage, create a journal entry that looks like this:

Debit Shrinkage expense account by $300

Credit Inventory account $300

5 0

3 years ago