Identify which group of accounts may require adjustments at the end of the accounting period.

Gravity location models in supply chain meaning ?

Andru [333]

Answer:

Gravity models are used to find location that minimizes the cost of transporting raw material from the supplier and finished goods to the markets served. This model also assumes that the transportation cost grows linearly with the quantity shipped.

Explanation:

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4 0

3 years ago

A cover letter may be searched for keywords<br> true or false

Vaselesa [24]

True, it may be searched for keywords

7 0

3 years ago

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Costs and benefits that should be ignored when making decisions are called ______ costs and benefits.

miskamm [114]

The first step in making a choice is to define the issue at hand. When making judgments, related costs and benefits should be evaluated. When making judgments, extraneous costs and advantages should be overlooked.

8 0

2 years ago

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Goliath Corp. has beginning accounts receivable of $2,000. During the year, Goliath sold goods to customers on account for $10,0

pishuonlain [190]

Answer:

$12,000

Explanation:

According to the accrual accounting method, the reporting of the transactions should be performed on an accrual basis which means whether or not the payment is paid but it is reported in the account books.

The revenue should be recorded when it is earned or realized and the expenses are recorded when it is incurred

So, in the given scenario, the amount based on accrual basis sales would be

= Goliath sold goods to customers on account + Goliath also sold goods to customers for cash

= $10,000 + $2,000

= $12,000

3 0

3 years ago

In its most recent annual report, Appalachian Beverages reported current assets of $54,000 and a current ratio of 1.80. Assume t

svetlana [45]

Answer:

Current Ratio - Transaction 1 = 1.6666 rounded off to 1.67

Current Ratio - Transaction 2 = 1.6388 rounded off to 1.64

Explanation:

The current ratio is a measure of liquidity which measures the amount of current assets a business has to pay off each $1 of current liability. It is calculated as follows,

Current Ratio = Current Assets / Current Liabilities

We know the initial current ratio and current assets. The initial current liabilities will be,

1.8 = 54000 / Current Liabilities

Current Liabilities = 54000 / 1.8

Current Liabilities = $30000

Transaction 1

The result of transaction 1 will be that the current assets will increase by $6000 as inventory increases and the current liabilities will also increase by $6000 as accounts payable are increasing. The new current ratio will be,

Current Ratio - Transaction 1 = (54000 + 6000) / (30000 + 6000)

Current Ratio - Transaction 1 = 1.6666 rounded off to 1.67

Transaction 2

The result of transaction 2 will be that the current assets will decrease by $1000 as payment for truck which is a fixed asset is made partly by cash and the current liabilities will not increase as the note signed for the remaining payment of the truck is due after 2 years thus it is a non current liability. The new current ratio will be,

Current Ratio - Transaction 2 = (54000 + 6000 -1000) / (30000 + 6000)

Current Ratio - Transaction 2 = 1.6388 rounded off to 1.64

5 0

2 years ago