Mark the example as ethical behavior, unethical behavior, or conflicts of interest:

Identify which department has stewardship over the following journals, ledgers, and files.

fredd [130]

Answer:

a. Customer open order file ⇒ SALES ORDER DEPARTMENT

This department deals with customer orders so they open the customer open order file.

b. Sales journal ⇒ BILLING DEPARTMENT.

In order the know how much to bill customers, this department does the sales journal.

c. Journal voucher file ⇒ BILLING DEPARTMENT

Journal voucher file is derived from the sales journal so it also falls under the billing department.

d. Cash receipts journal ⇒ CASH RECEIPTS DEPARTMENT

Cash receipts department are in charge of cash transactions that involve receipts so they are in charge of making the relevant journal.

e. Inventory subsidiary ledger ⇒ INVENTORY CONTROL DEPARTMENT

f. Accounts receivable subsidiary ledger ⇒ ACCOUNT RECEIVABLE DEPARTMENT

As the department in charge of transactions related to the Account receivables, this department is in charge of the ledger that records these receivables.

g. Sales history file ⇒ SALES DEPARTMENT

h. Shipping report file ⇒ SHIPPING DEPARTMENT

The shipping report file shows details of goods shipped to customers and so this falls under the responsibility of the shipping department.

i. Credit memo file ⇒ CREDIT DEPARTMENT

j. Sales order file ⇒ SALES DEPARTMENT

k. Closed sales order file ⇒ SALES DEPARTMENT

The sales department is in charge of these last two because everything that has to do with sales falls under the Sales department except for when the sale is first ordered.

8 0

3 years ago

A written agreement with a promise to pay a supplier a specific sum of money at a definite time is a(n) ______.

castortr0y [4]

Answer: Promissory note

Explanation:

6 0

3 years ago

The Richmond Corporation uses the weighted-average method in its process costing system. The company has only a single processin

Digiron [165]

Answer:

$95,400

Explanation:

Step 1 : Find the equivalent units of production in Ending Work in Progress

Materials = 18,000 x 100 % = 18,000 units

Conversion costs = 18,000 x 60 % = 10,800 units

Step 2 : Calculate the Cost of units in Ending Work in Progress

Cost of units in Ending Work in Progress = 18,000 x $2.75 + 10,800 x $4.25

= $95,400

Conclusion :

The ending work in process inventory was $95,400.

3 0

3 years ago

Which of the following would not shift the aggregate demand curve? rev: 06_12_2018 Multiple Choice Foreign-exchange rates Real i

tester [92]

Answer:

All of the mentioned factors will cause a shift in the aggregate demand curve either leftward or to the right

Explanation:

The demand curve is the level of consumption consumers are able to put up to match the available supplies within an economy at any period in time.

This curve is either increasing positively or declining subject to factors other than supply.

Foreign Exchange Rates

Foreign exchange play a strong role in deciding if a demand for a product would increase or decrease subject to changes in the value of the USD compared to other international currencies.

if a product Raw Material is sourced from Taiwan, and for some reasons of stability in Taiwan there is an improvement in the conversion of their currency vs the USD, this would mean the Per Ton cost of such raw material to USA will increase. And which in turn will lead to Price increases to cover the cost of the Products.

The effect of this is demand will shrink

If it was the reverse as well, there is likelihood Demand will improve from the USA consumer point of view.

Real Interest Rates

Interest rates will determine how much one would wish to invest in a product. if Interest rates are favorable then the Cost of doing business will be less whilst Margin and profitability will improve. But if interest rate is adverse to business, spending will be discouraged so as to retain profitability within the Business

This factor plays a pivotal role in the shift in aggregate demand curve

Income tax rates

If the income tax rate is raised disposable income is weakened and Demand power also declines

If otherwise, it serves as a potential tool for increasing the demand of a product

Productivity Rates

This builds efficiency to the way businesses operate it doesn't directly, and the way consumers spend. Thus, it has the capacity of widening the Margin for the average investor through his demand for that product.

8 0

3 years ago

The town of Pittsford, NY is in need of a new water treatment plant to meet its average daily demand of 18, 000 m3/d and is acce

svlad2 [7]

Answer:

The 1st plant with a storage reservoir is a better option as compared to that of the 2nd plant.

Explanation:

Suppose the factor for variation in hourly demand is 2 So the average hourly demand is given as

Average Hourly Demand=Factor x Average Daily Demand

AHD=2 x 18000 m3

AHD=36000 m3

For the first pump

The Quantity in storage tank is 3975 m3

So the amount of pumping required is

$Q_{pump1}=AHD-Q_{reservoir}\\Q_{pump1}=36000-3975 \\Q_{pump1}=32025 m^3$

For this value the pump will work for following hours

$t_{pump1}=\frac{Q_{pump}}{pumping rate_1}\\t_{pump1}=\frac{32025}{1750}\\t_{pump1}=18.3 \, hours$

So the pump 1 can complete the demand of the town by working for 18.3 hours.

Now in order to complete the demand, the second pump is given as

$Q_{pump2}=AHD\\Q_{pump2}=36000 m^3$

For this the pump will work for as

$t_{pump2}=\frac{Q_{pump2}}{pumping rate_2}\\t_{pump2}=\frac{36000}{2250}\\t_{pump2}=16 \, hours$

So the pump 2 requires 16 hours to complete the demand of the town.

Here it is important to note that the realistic demand of the water can vary from the average value and thus when there is a drastic requirement of water in certain cases, the pump 2 will fail. Also pump 2 has to be run continuously and will produce excessive water which will be wasted if the hourly demand is less than that of the production value.

In context of this, the 1st plant with a storage reservoir is a better option as compared to that of the 2nd plant.

3 0

3 years ago