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3 years ago

Which account will a merchandising business close out at the end of the year?

Business

1 answer:

Paha777 [63]3 years ago

8 0

Answer: B. Sales returns and allowances

Explanation:

Accounts receivable is not closed out because people will still be owning at year end. Prepaid Insurance is an unrecognized payment for an expense in another period so it is not closed out either.

Land is a fixed asset so it is not closed and Accumulated depreciation will be left open to keep depreciating assets.

Only account that will be closed is the Sales returns and Allowances account as these are periodic entries and so should be closed out in the period.

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Compute the payback period for each of these two separate investments: A new operating system for an existing machine is expecte

labwork [276]

Answer:

Project A's payback period = 2.23 years

Project B's payback period = 3.3 years

Explanation:

project A project B

initial investment $290,000 $210,000

useful life 6 years 11 years

yearly cash flow $83,653 + $46,500 $46,000 + $17,727

= $130,153 = $63,727

salvage value $11,000 $15,000

payback period $290,000 / $130,153 $210,000 / $63,727

= 2.23 years = 3.3 years

8 0

4 years ago

lanier company manufactures expensive watch cases sold as souvenirs. three of itssales departments are retail sales, wh

Nataly [62]

Mary Gammel's responsibility in the firm is to monitor the results of profit center because it is the key driver of the total results of the company.

<h3>What is Mary Gammel position?</h3>

She is a manager in the retail sales department which is a profit center in the firm because it is saddles with role of supervising the team of sales representatives who works with customers.

Hence, Mary Gammel's role is to monitor the results of profit center because it is the key driver of the total results of the company.

Missing words "<em>Mary Gammel is a manager in the Retail Sales Department. Determine what should be included in the responsibility report of the manager</em>"

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<em>brainly.com/question/930797</em>

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3 0

2 years ago

Which are the first steps you should consider when constructing an online business strategy.

Nat2105 [25]

The first steps you should consider when constructing an online business strategy are: create goals and identify a USP.

<h3>What is a business strategy?</h3>

A business strategy can be defined as a set of guiding principles, actions, policies, and decisions that a business organization strategically combines, so as to successfully achieve its goals, objectives, attract potential customers and possess a competitive advantage over its rivals in the industry.

<h3>The types of business strategy.</h3>

Generally, there are four (4) main types of business strategy and these include the following:

Organizational (Corporate) strategy.
Business (Competitive) strategy.
Functional strategy.
Operating strategy.

In Business management, the first steps you should consider when constructing an online business strategy are:

Create goals

Identify a unique selling proposition (USP).

Read more on business strategy here: brainly.com/question/17130109

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Complete Question:

Which are the first steps you should consider when constructing an online business strategy?

Create goals and identify a USP

Understand the target audience

Change your mission statement to match the goals

Define and segment your audiences

5 0

2 years ago

A bank reconciliation:Group of answer choicesis a formal financial statementboth A and B are correctis part of a sound internal

Anna [14]

The Correct question reads;

Which of the following statements about bank reconciliations is correct?

a. Should not be prepared by an employee who handles cash transactions

b. Is part of a sound internal control system

c. Is a formal financial statement

d. Both (a) and (b) are correct

Answer:

<u>a. Should not be prepared by an employee who handles cash transactions</u>

<u>Explanation:</u>

It is only a bank that prepares a bank reconciliation statement. So, it is correct to say that a bank reconciliation statement should not be prepared by an employee who handles cash transactions.

3 0

3 years ago

A nation's legal system is usually of very little interest to international business managers, because international businesses

olganol [36]

The answer is True

The four fundamental systems of civil law, common law, statutory law, and religious law—or mixtures of these—are typically the foundations of the present national legal systems. However, because each nation's legal system is molded by its distinct past, it contains distinctive variances. Comparative law is the name of the field of study that examines law just at level of legal systems.

Both civil law (also known as Roman law) and legal system systems can be regarded as the most prevalent in the globe. Civil law is the most prevalent in terms of both landmass and population, while common law is used by the most people of any single civil law system.

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7 0

2 years ago