Ross Wrigley refuses to buy the Billy Goat brand of beer. His attitude toward this brand is called

How will the general ledger accounts in the trial balance most likely differ if the company were a retail store rather than a wh

ExtremeBDS [4]

How will the general ledger accounts in the trial balance most likely differ if the company were a retail store rather than a wholesale company?

A general ledger account is used to record transactions that a company has. A trial balance has all of the general ledger accounts listed shows all of the debits and credits that a company has faced. A retail store will have smaller product transactions over a wholesale store due to the wholesale store selling in bulk. There will likely be more credits and debits for a retail store whereas a wholesale store may have more debits as they are less likely to have returns.

How will they differ for a hospital or a government unit?

A hospital or government unit will have vastly different general ledger reports due to the type of agency they are. These transactions will deal more with insurance or big dollar companies rather than individuals on a smaller scale. A trial balance is not a financial statement but it used to show balances that an organization has.

7 0

3 years ago

Externalities exist when the actions of one agent Question 9 options:

den301095 [7]

Answer: D. benefit or hurt another agent who is not part of the exchange relationship.

Explanation: Externality is a benefit or hurt to another agent who is not part of the exchange relationship. It can be positive or negative.

Majorly it affects the people around who has nothing to do with the effect itself.

5 0

4 years ago

For a typical firm, which of the following sequences is CORRECT? All rates are after taxes, and assume that the firm operates at

GREYUIT [131]

Answer:

The answer is: re > rs > WACC > rd.

Explanation:

We can see that the return on equity is greater than return on common stock which is greater than Weighted average cost of capital and return on debt.

For the source of financing, debt will be less cost than others because of the tax effect.

While weighted average cost is decided by return on equity, preferred stock and debt. => It is higher than the cost for debt.

4 0

4 years ago

Financial Statements of a Manufacturing Firm The following events took place for Sorensen Manufacturing Company during January,

True [87]

Answer:

Missing word "b. Determine the inventory balances at the end of the first month of operations."

a) Income statement

Sales $1,200,000

Cost of goods sold $675,000

Gross profit $525,000

Selling and administrative expense

Selling expense $215,000

Administrative expense $125,000

Total Selling and administrative expense $340,000

Operating income $185,000

b) Inventory balance

Raw material inventory ($250,000 - $180,000) = $70,000

Work in process ($180,000+$450,000+$180,000-$760,000) = $50,000

Finished goods ($760,000-$675,000) = $85,000

7 0

3 years ago

Suppose warren buffet withdraws $1 million from his checking account at chase manhattan bank. if the required reserve ratio is 2

AnnZ [28]

Answer:

-$5 million

Explanation:

In this question, we are asked to calculate the maximum change in banking system deposits as a result of a withdrawal.

mathematically;

change in checking deposits = Change in Reserves * 1/Reserve Requirement

From the question, the reserve requirement is 20% = 20/100 = 0.2

The change is thus -1 million * 1/0.2

-1 million * 5 = -$5 million

4 0

4 years ago