All categories

2 years ago

You must complete parts 1, 2, 3, 4, 6, 7 and 8 before attempting to complete part 9. Part 5 is optional.

Business

1 answer:

Crank2 years ago

4 0

Answer:

Sales (Dr.) $45,000

Income Summary (Cr.) $45,000

Income summary (Dr.) $63,900

Advertising Expense (Cr.) $1,200

Rent expense (Cr.) $5,600

Office Supplies Cost (Cr.) $9,800

Insurance Expense (Cr.) $7,000

Sales Returns (Cr.) $2,900

Interest Expense (Cr.) $3,200

Cost of Goods sold (Cr.) $27,500

Selling and administrative expense (Cr.) $6,700

Income Summary (Dr.) $250,000

Capital investment (Cr.) $ 250,000

Explanation:

Closing entries are prepared to close business transactions that occurred during the month. These transactions are closed with a contra account of Income Summary. All debit balance are credited with a debit of Income summary account and vice versa. the temporary account balances are reset to zero after closing entries are passed.

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You were recently hired by RLM Inc. It is your job to prepare reports and analyze financial information related to the company.

Alex73 [517]

Answer:

d. management

Explanation:

Based on the job tasks described within the question it seems that you were recently hired as a management accountant. This role focuses on (like mentioned in the question) preparing reports and analyzing as much financial information as possible in order to best inform yourself, so that you can help you make the best and most strategic decisions for the organization. Which seems to by why RLM Inc. has hired you.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

4 0

3 years ago

Walter Utilities is a dividend-paying company and is expected to pay an annual dividend of $0.65 at the end of the year. Its div

Korolek [52]

Answer:

option 14.92%

Explanation:

Data provided in the question;

Expected annual dividend to be paid = $0.65

Expected growth rate = 9.50%

Walter’s stock currently trades = $12.00 per share

Now,

Expected rate of return = $\frac{\textup{Expected dividend}}{\textup{Stock price}}\times100\%$ + Growth rate

Expected rate of return = $\frac{\$0.65}{\$12.00}\times100\%$ + 9.50%

Expected rate of return = ( 0.054167 × 100% ) + 9.50%

Expected rate of return = 5.4167% + 9.50%

Expected rate of return = 14.9167 ≈ 14.92%

Hence, the correct answer is option 14.92%

4 0

3 years ago

A company with a high ratio of fixed costs:

garik1379 [7]

Answer:

The correct answer is: more likely to experience a loss when sales are down than a company with mostly variable costs.

Explanation:

The fixed cost ratio is a simple ratio that divides fixed costs by net sales.

The profit formula is:

Profit = Sales- Total cost =(Price * Q)-(FC + VC*Q)

Where

FC=Fixed cost

VC= variable cos t

Q=produce quantity

If sales go down, we have to pay this fixed cost even if we have no sales. So if this Fixed cost are high , is most likely we are going to experience loss

4 0

3 years ago

A _____ is a report based on research of compensation rates for workers performing similar jobs in other organizations.

givi [52]

A Pay-Survey is a report based on research of compensation rates for workers performing similar jobs in other organisations.

5 0

2 years ago

a corporation reported cash of $15,800 and total assets of $180,100 on its balance sheet. its common-size percent for cash equal

Veseljchak [2.6K]

Its common-size percent for cash equals 8.77%.

Cash is prison gentle—currency or coins—that may be used to change items, debt, or offerings. Every so often additionally it is the value of the property that may be easily converted into coins right away, as stated through an employer.

A cash price is bills or cash paid by the recipient of products or services to the issuer. It can also contain a fee inside an enterprise to employees in compensation for their hours worked or to pay off them for minor prices which are too small to be routed thru the accounts payable device.

Coins in a bank mean the contemporary balance in checking accounts, savings accounts, or the like within the call of the enterprise/enterprise applying for a certificate. Do now not encompass retirement bills or personal bank account balances.

Percent of cash to total asset = Cash / Total Assets

= 15800 / 180100

= 8.77%

Learn more about cash here brainly.com/question/24179665

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6 0

1 year ago