The sequence of work for a job is also known as its

Why is a vendor closing checklist especially important when a project manager orders and receives specialty products

olganol [36]

Answer:

A vendor checklist is used to avoid errors in items supplied by the vendor. It gives assurance that the product meets specifications and there is no shortfall in quantity

Explanation:

Vendor closing checklist is defined as a list that helps a manager to verify if all the items he ordered from a vendor meets his requirements, is complete, and is delivered on time.

This checklist is especially important because mistakes or intentional misrepresentation from the vendor will lead to payment for items not received or of low quality.

These losses eats deeply into the profit that the business is struggling to make.

8 0

3 years ago

BSW Corporation has a bond issue outstanding with an annual coupon rate of 7 percent paid quarterly and four years remaining unt

Furkat [3]

Answer:

$788.35

Explanation:

In this question, we use the present value formula which is shown in the spreadsheet.

The NPER represents the time period.

Given that,

Future value = $1,000

Rate of interest = 14% ÷ 4 quarters = 3.5%

NPER = 4 × 4 quarter = 16 years

PMT = $1,000 × 7% ÷ 4 quarters = $17.50

The formula is shown below:

= PV(Rate;NPER;PMT;FV;type)

So, after solving this, the answer would be $788.35

4 0

3 years ago

Gershwin Corporation obtained a franchise from Sonic Hedgehog Inc. for a cash payment of $180,000 on April 1, 2014. The franchis

ikadub [295]

Answer:

Explanation:

The journal entry is shown below:

On April 1

Franchise A/c Dr $180,000

To Cash A/c $18,0000

(Being the purchase of a franchise is recorded)

On December 31

Franchise Amortization Fee A/c Dr $13,500

To Franchise A/c $13,500

(Being the franchise amortization fee is recorded)

The computation is shown below:

= $180,000 ÷ 10 years × 9 months ÷ 12 months

= $13,500

8 0

4 years ago

Stear Corp. bought a machine on January 1, 2012 for $30,000. The company follows a policy of depreciating assets at 5 percent ea

kondaur [170]

1. 30000 x 5% = 1500.
2. 30000 - 1500 (because it has depreciated) = 28500.

So, the Accumulated depreciation account after the first year would be $28,500 (D).

I hope it helped you!

3 0

4 years ago

Read 2 more answers

Lexington Company engaged in the following transactions during Year 1, its first year of operations. (Assume all transactions ar

kobusy [5.1K]

Answer:

Lexington Company

The amount of total assets on Lexington's balance sheet at the end of Year 1 was:

$5,860

Explanation:

a) Data and Calculations:

Cash from issue of common stock = $3,200

Cash from bank loan = 2,300

Cash from revenue = 3,200

Cash for expenses = (2,420)

Cash for dividends paid = (420)

Total assets = $5,860

b) We can verify the total assets above by computing the liabilities and equity, which should be equal to the total assets according to the accounting equation. The liabilities = $2,300 (bank loan). The equity = common stock plus retained earnings ($3,200 + $3,200 - $2,420 - $420), which = $3,560. The total of liabilities and equity = $5,860 ($2,300 + $3,560). Therefore, assets = liabilities + equity ($5,860 = ($2,300 + $3,560).

7 0

3 years ago