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Savatey [412]
3 years ago
9

Select the correct answer.

Business
1 answer:
kati45 [8]3 years ago
5 0

Answer:

Consumer Bill of Rights

Explanation:

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The night manager of Willis Transportation Service, who had no accounting background, prepared the following balance sheet for t
Taya2010 [7]

Question Completion:

WILLIS TRANSPORT SERVICE

MANAGER'S REPORT

8PM THURSDAY

Assets                                             Owners' Equity

Capital stock                $110,400    Accounts Receivable      $84,000

Retained earnings          74,400    Notes Payable                 345,600

Cash                               94,800     Supplies                             16,800

Building                          96,000     Land                                  84,000

Automobiles                 198,000     Accounts Payable            43,200

Total                           $573,600     Total                             $573,600

Answer:

Willis Transportation Service

WILLIS TRANSPORTATION SERVICE

Balance Sheet

As of February 28, 2015

Assets

Current Assets:

Cash                                    $94,800

Accounts Receivable            84,000    

Supplies                                 16,800  $195,600

Automobiles                        198,000

Building                                 96,000    

Land                                      84,000 $378,000

Total assets                                       $573,600

Liabilities and Equity:

Current Liabilities:

Accounts Payable                               $43,200

Long-term Liabilities:

Notes Payable                                  $345,600

Total liabilities                                   $388,800

Owners' Equity:

Common stock                $110,400    

Retained earnings              74,400  $184,800

Total liabilities and equity               $573,600

Explanation:

a) Data and Analysis:

Assets:

Cash                                      94,800

Accounts Receivable            84,000    

Supplies                                 16,800

Automobiles                        198,000

Building                                 96,000    

Land                                      84,000

Liabilities and Owners' Equity:

Accounts Payable                43,200

Notes Payable                   345,600

Common stock                   110,400    

Retained earnings              74,400    

b) Willis' balance sheet shows the company's assets and the sources through which the assets are financed.  These sources are either liabilities (debts) or owners' equity (common stock or retained earnings).  The balance sheet summarizes the financial position of Willis Transportation Service at a point in time.

4 0
3 years ago
Turnbull Department Store had net credit sales of $18,000,000 and cost of goods sold of $15,000,000 for the year. The average in
frez [133]

Answer:

Inventory turnover period = 60.8 days

Explanation:

<em>The inventory turnover period also known as the inventory days is the average length of time it takes  business to sell its stocks and replace same. The shorter the better as it indicates a high patronage from  customers.</em>

It is calculated as follows:

Inventory turnover = (Average inventory / cost of goods ) × 365 days

                              = (2,500,000/15,000,000)× 365 days

                              = 60.83 days

5 0
3 years ago
Read 2 more answers
What does making a good decision mean?? How can I make a good decision?
kherson [118]

Answer:

A good decision is one that is made deliberately and thoughtfully, considers and includes all relevant factors, is consistent with the individual’s philosophy and values, and can be explained clearly to significant others.

Ways to make good decision:

  • Set Aside Time to Reflect on Your Mistakes
  • Stop Thinking About the Problem
  • Frame Your Problems In a Different Way
  • Identify the Risks You Take
  • Take Note of Your Overconfidence
  • Talk to Yourself Like a Trusted Friend
  • Label Your Emotions
  • Acknowledge Your Shortcuts
  • Consider the Opposite
5 0
2 years ago
You are earning $40,000 per year as a branch manager at Dunkin Donuts. You are planning on leaving your job and going back to co
sergij07 [2.7K]

Answer:

It increases the opportunity cost because you are foregoing more money for college.

Explanation:

Opportunity cost is the benefit profit, or value of something that is missed or given up when an individual chooses one alternative over another.  

The 10% rise in salary offered by the branch manager increases the opportunity cost of going to college. This is because the higher cost (money) you could have earned by not going to college is foregone.

3 0
3 years ago
Listed below are the lengths (in inches) of each snake in the Clarmont Zoo’s reptile house
Elanso [62]
The mode is 50 the most frequent
6 0
2 years ago
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