.

Exercise 5-6 Equivalent Units of Production-Weighted-Average Method [LO5-2] Highlands Company uses the weighted-average method i

BaLLatris [955]

Answer:

1. Tons of pulp completed and transferred out in June:

= Beginning Work in Process + Started into production in June - Ending WIP

= 80,600 + 301,100 - 51,900

= ‭329,800‬ tons

2. Equivalent units for Materials:

= Units completed and transferred out + Ending Equivalent units

= ‭329,800‬ + (51,900 * 42%)

= ‭351,598‬ tons

Equivalent units for Labor:

= 329,800 + (51,900 * 17%)

= ‭338,623‬ tons

7 0

3 years ago

What happened to assets, earnings, dividends, and cash flows during the financial year? The Provincial and Teritorial Securities

Alchen [17]

Answer:

1.

Is required by the Provincial and Territorial Securities Commissions and includes the audited document that shows the company's financial results for the past year and management's discussion about the future outlook and plans - ANNUAL STATEMENT

The annual statement is a very important document that shows a company's financial results in a period as well as the future outlook and plans of the company according to management.

Details changes in the capital received from investors in exchange for shares (paid-in capital), donated capital, and retained earnings - STATEMENT OF CHANGES IN EQUITY.

The Statement of changes in equity shows the changes in capital from investors as well as donated capital and retained earnings.

Aggregates all cash inflows, which the company receives from its ongoing activities and investment sources, and all cash outflows - STATEMENT OF CASHFLOWS

A very important statement, the Statement of cashflows shows the actual amount a company has by deducting its cash outflows from inflows.

Gives information about earnings before interest, taxes, depreciation, and amortization. - INCOME STATEMENT

The Income statement is used to calculate the income for the company in a particular period. It includes expenses such as taxes, interest, depreciation and amortizaton.

Provides a quantitative summary of a company's assets, liabilities, and net worth at a specific point in time. BALANCE SHEET.

The Balance sheet is used to show the assets, liabilities and equity of a company in a given period.

2.

Does the firm generate enough internal funds to support anticipated investment or does additional outside capital need to be raised? - STATEMENT OF CASHFLOWS

As the Statement of Cash Flows shows the actual amount of money available, it would be the best to use to see if the company is generating enough internal funds.

Can the firm meet all its short-term obligations using its current assets? - BALANCE SHEET

The Balance sheet contains information on the firm's current assets as well as its current liabilities and so would be the best statement to use.

7 0

3 years ago

Arbitration places a dispute before a third party for a binding settlement. true or false

kenny6666 [7]

<em />It is true that arbitration places a dispute before a third party for a binding settlement.

4 0

3 years ago

HURRY!! Sarah is working at a daycare center. She just thought of a way to streamline the way parents drop off and pick up their

tino4ka555 [31]

Answer:

Explanation:

Trust

6 0

3 years ago

Although a major advantage of the corporate form of entity is the liability protection for its principals, there are some cases

Triss [41]

Answer:

A) This is called piercing the corporate veil and may result in significant liability for the corporation's principals.

Explanation:

The phrase "Piercing the corporate veil" is used to describe a situation where a court will put aside limited liability and hold a corporation's shareholders or directors liable for the actions and liabilities of the corporation.

This is not a common procedure and courts usually do this based on the following:

"unity of interest and ownership": interest of the shareholders doesn't stand together anymore.
"wrongful conduct": illegal or wrongful actions by the directors or shareholders.
"proximate cause": as a result of the illegal or wrongful actions, other parties were harmed.

6 0

3 years ago