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3 years ago

At the beginning of January of the current year, Thomas Law Center's ledger reflected a normal balance of $52,000 for

Business

1 answer:

Lemur [1.5K]3 years ago

3 0

Answer:

$49,700

Explanation:

Opening balance for accounts receivable: $52,000

Add services provided on account : $12,500

total due from customers : $64,500

less payment received : $14,800

Closing balance : $49,700

The amount received as prepayment is not a receivable but a liability. Receivable refers to money owed to a business by customers for goods or services delivered by payment has not been made.

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Zanzabum

Answer: Bonds do not affect owner control.

Explanation:

Bonds are simply refered to as the units of corporate debts which are being issued by companies. It is a fixed income instrument and its advantage is that the bonds do not affect owner control.

Bonds can also bring about a rise in the return on equity. Therefore, the correct option is A.

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3 years ago

True or False?<br> An online bank and online banking is the same thing.

nevsk [136]

False

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3 years ago

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Riverside Manufacturing designs and manufactures bathtubs for home and commercial applications. Riverside recorded the following

Papessa [141]

Answer:

variable overhead efficiency variance= $9,200 favorable

Explanation:

Giving the following information:

Riverside recorded the following data for its commercial bathtub production line during March:

Standard DL hours per tub= 4

Standard variable overhead rate per DL hour= $ 8.00

Standard variable overhead cost per unit= $ 32.00

Actual variable overhead costs= $ 18,450

Actual DL hours= 2,050

Actual variable overhead cost per machine hour= $ 9.00

Actual tubs produced= 800

We need to use the following formula:

variable overhead efficiency variance= (Standard Quantity - Actual Quantity)*Standard Rate

SQ= 800 tubs* 4 hours= 3,200 hours

AQ= 2,050 hours

SR= $8 per direct labor hour

variable overhead efficiency variance= (3,200 - 2,050)*8= $9,200 favorable

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3 years ago

3. The store purchases used goods for resale from people that bring items to the store. Since that can occur anytime that the st

Dafna11 [192]

Answer:

Weakness 1 is signed paper are not stored in safe and secured location.

Weakness 2 is approval is not taken from any manager or person before purchasing the item from customers.

Explanation:

The store should keep a track in the system for the purchase of items from its customers. The store should get approval before purchasing the product and the cash dealing should be assigned to designated person who will be responsible for the payment to its customers. This will reduce chances of fraud as the cash will be handled by only one person and tracking will be easy.

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3 years ago

Charlize is monitoring market indicators in a particular area for her client who wants to buy an oceanfront home. Which market i

Dmitrij [34]

Answer:

Price levels

Explanation:

Price level is an indicator that is obtained by getting the average price of goods that are produced within an economy or an industry.

When prices rise it indicates that demand for a good is on the rise and eventually an inflation may result. When price falls demand has reduced and deflation may result.

In the given scenario price level is the best indicator to show how prices of properties in the area have fluctuated.

It will also give insight into how good a property purchase will be.

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3 years ago