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Rama09 [41]
3 years ago
15

Wesley has recently graduated and accepted his dream position with a law firm. The human resources team has requested that he tu

rns in a substantial document that summarizes all of his educational, academic and professional accomplishments. What is the name of the document that the human resources team has requested from Wesley?
Business
1 answer:
artcher [175]3 years ago
8 0

Answer:

The name of the document is Curriculum Vitae.

Explanation:

Curriculum Vitae  (CV) is a document that provides detail information about an individual's educational and work history. In this document, you list the qualifications to apply for employment.

There are no fixed rules on the length and content of a C.V. Generally it follows the next structure. Begin with your contact information, such as your complete name, address, telephone number, and email address. You must also indicate your area or areas of academic interest. It should include a personal profile, career objective, and professional profile, it’s a short paragraph giving prospective employers an overview of who you are and what you’re all about.

Focus on your experience and educational background, for example, schools attended and degrees earned, your CV should include a comprehensive account of your academic history.

You can add sections like key skills, hobbies, interests, and references.

You might be interested in
Charter Corporation, which began business in 2013, appropriately uses the installment sales method of accounting for its install
Doss [256]

Answer:

a. Charter should recognize $80,000 as gross profit in 2013; and Charter should recognize $92,500 as gross profit in 2014.

b. The balance in the deferred gross profit account at the end of 2013 should be $105,000; and the balance in the deferred gross profit account at the end of 2014 should be $120,500.

Explanation:

Note: The data in this question are merged together. They are therefore sorted before answering the question. Kindly see the attached pdf file for the represented complete question with the sorted data.

The explanation to the answers is now given as follows:

Installment sales method can be described as a revenue recognition technique where a business postpone profit on a sale until when the cash is received from the buyer. A proportion of the profit based on gross profit percentage is then recorded as a profit for the period when the cash is received from the buyer.

This method can be applied to this question as follows:

Gross profit in 2013 = Installment sales in 2013 - Cost of installment sales in 2013 = $370,000 - $185,000 = $185,000

Gross profit percentage in 2013 = (Gross profit in 2013 / Installment sales in 2013) * 100 = ($185,000 / $370,000) * 100 = 0.50 * 100 = 50%

Gross profit in 2014 = Installment sales in 2014 - Cost of installment sales in 2014 = $360,000 - $252,000 = $108,000

Gross profit percentage in 2014 = (Gross profit in 2014 / Installment sales in 2014) * 100 = ($108,000 / $360,000) * 100 = 0.30 * 100 = 30%

a. How much gross profit should Charter recognize in 2013 and 2014 from installment sales?

<u>Gross to recognize in 2013:</u>

Gross recognized in 2013 in respect of 2013 instalment sales = Cash collections in 2013 on installment sales during 2013 * Gross profit percentage in 2013 = $160,000 * 50% = $80,000

Therefore, Charter should recognize $80,000 as gross profit in 2013.

<u>Gross to recognize in 2014:</u>

Gross recognized in 2014 in respect of 2013 instalment sales = Cash collections in 2014 on installment sales during 2013 * Gross profit percentage in 2013 = $110,000 * 50% = $55,000

Gross recognized in 2014 in respect of 2014 instalment sales = Cash collections in 2014 on installment sales during 2014 * Gross profit percentage in 2014 = $125,000 * 30% = $37,500

Total gross profit to recognize in 2014 = Gross recognized in 2014 in respect of 2013 instalment sales + Gross recognized in 2014 in respect of 2014 instalment sales = $55,000 + $37,500 = $92,500

Therefore, Charter should recognize $92,500 as gross profit in 2015.

b. What should be the balance in the deferred gross profit account at the end of 2013 and 2014?

<u>For 2013:</u>

Balance in the deferred gross profit in respect of 2013 account at the end of 2013 = Gross profit in 2013 - Gross recognized in 2013 in respect of 2013 installment sales = $185,000 - $80,000 = $105,000

Therefore, the balance in the deferred gross profit account at the end of 2013 should be $105,000.

<u>For 2014:</u>

Balance in the deferred gross profit account in respect of 2013 at the end of 2014 = Balance in the deferred gross profit in respect of 2013 account at the end of 2013 - Gross recognized in 2014 in respect of 2013 installment sales = $105,000 - $55,000 = $50,000

Balance in the deferred gross profit in respect of 2014 account at the end of 2014 = Gross profit in 2014 - Gross recognised in 2014 in respect of 2014 installment sales = $108,000 - $37,500 = $70,500

Total balance in the deferred gross profit account at the end of 2013 = Balance in the deferred gross profit account in respect of 2013 at the end of 2014 + Balance in the deferred gross profit in respect of 2014 account at the end of 2014 = $50,000 + $70,500 = $120,500

Therefore, the balance in the deferred gross profit account at the end of 2014 should be $120,500.

Download pdf
6 0
3 years ago
A lender estimates that the closing costs on a $165,000 home loan will be $6,187.50. The actual closing costs were 3.5% of the l
Ivanshal [37]
Home loan amount = $165,000

Estimated closing costs = $6,187.50 

% of estimated closing cost = ?

$165,000 * x% = $6,187.50
x% = $6,187.50 ÷ $165,000
x% = 0.0375
x = 0.0375 x 100 = 3.75

Therefore, estimated closing costs = 3.75% of loan amount = 3.75% of $165,000

Actual closing costs = 3.5% of loan amount = 3.5% of $165,000 = $5775

Difference in estimated and actual closing cost percent = 3.75% - 3.5% = 0.25%

The closing costs were lower than the estimate by 0.25%
5 0
3 years ago
Read 2 more answers
When a dividend is not declared on preferred stock, and the common share­holders cannot receive a dividend until all past and cu
Lady_Fox [76]

Answer:

cumulative.

Explanation:

Cumulative preferred stock is defined as a type of stock that states that if any dividend payments have been missed the first payment of the owed dividends must be done to cumulative preferred shareholders in first instance

4 0
3 years ago
Each business day, on average, a firm writes checks totaling $17000 to pay its suppliers. The usual clearing time for the checks
BaLLatris [955]

Answer:

The disbursement float is $ 68,000, collection float is -$44,000 and net float is $24,000.

Explanation:

DISBURSEMENT FLOAT -

Formula that can be used to calculate the disbursement float is  =

Amount of average monthly check written X Average number of days it

                                                                             takes to clear check

Where, amount of average monthly check = $17,000

and average number of days for it to be cleared = 4 days

Disbursement float = $17,000 x 4

                                = $68,000

COLLECTION FLOAT -

Formula that can be used to calculate the collection float is  =

Amount of average monthly check received X Average number of days it

                                                                             takes to clear check

Where, amount of average monthly check =-$22,000

and average number of days for it to be cleared = 2 days

Collection float = -$22,000 x 2

                         = -$44,000

NET FLOAT -

Formula that can be used to calculate the NET float is  =

DISBURSEMENT FLOAT - COLLECTION FLOAT

= $68,000 - $44,000

= $24,000

7 0
3 years ago
Fixed cost per unit is inversely proportional to the volume of units produced.
Levart [38]
True. Fixed cost per unit is inversely proportional to the volume of units produced.

Fixed costs per unit are inversely proportional to the volume produced because depending on the amount of units made, the amount spent on fixed costs is then based. Because they are related to one another, this statement is true.  
5 0
3 years ago
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