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3 years ago

Dwayne has proper funding for his bicycle shop, but needs assistance on what to do

1 answer:

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Dwayne has proper funding for his bicycle shop, but needs assistance on what to do next.<u>The type of assistance needed by Dwayne is Small Business Administration</u>

Explanation:

In U.S. Small Business Administration is a United States government agency that render support the budding entrepreneurs and small businesses houses

The Small Business Administration (SBA) was established in the year 1953 with intention of providing assistance to small business houses ,thus promoting economic growth.

The main function of SBA includes providing counselling and financial aid to individuals trying to start their own businesses.

The assistance of SBA is provided in four main areas:

Financial aid
Educating and training individuals
Providing Government contracts
Acts as a supporting voice in policy matters.

All the above mentioned programs are aimed to help entrepreneurs start and establish their businesses .

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Pendleton Company, a merchandising company, is developing its master budget for 2015. The income statement for 2014 is as follow

Amanda [17]

Answer:

<u>Budgeted functional income statement for 2015</u>

Gross sales ($2,000,000 × 1.04 × 1.06) $2,204,800

Less: Estimated uncollectible accounts ($2,204,800 × 2 %) ($44,096)

Net sales $2,160,704

Cost of goods sold (1,100,000 × 1.03) ($1,133,000)

Gross profit $1,027,704

Operating expenses (475,000 × 1.10) ($522,500)

Depreciation ($25,000)

Net income $480,204

Explanation:

Make the adjustments stated on the 2014 Income Statement.

For Operating Expenses, it is wise to first remove the depreciation expense and apply the increment of 10% to reflect Operating Costs for 2015.

Treat Depreciation Expense separately and at the same amount as for 2014, since depreciation is calculated on straight line method.

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3 years ago

A corporation issued 5,000 shares of its $1 par value common stock in exchange for land (market value $30,000) and a building (m

olga2289 [7]

Answer:

The correct option is A,Debit Land and Building, $130,000; Credit Common Stock, $5,000; Credit Paid-in Capital in Excess of Par Value, Common Stock, $125,000.

Explanation:

The sum of the two market values of both land and building is $130,000($100,000+$30,000),which would be debited to land and building account to show that the asset has increased due to new acquisition.

In the common stock account the par value of the shares which is $5,000($1*5000) would be credited to it.

The difference between the market value of assets acquired and the common stock amount which is $125,000($130,000-$5,000) would be credited to paid in capital in excess of par account.

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3 years ago

50 points. Ethics are essential in good accounting. For this assignment, find examples of poor ethical behavior in accounting an

Alexxandr [17]

Answer:

Ethics of accounting information is providing accounting information to make good economic decisions in the financial statement of the organization.

Explanation:

8 0

3 years ago

The process of first creating and then developing and strengthening capabilities internally

REY [17]

Answer:

B. requires first developing the ability to do something, however imperfectly or inefficiently perform their assigned activities in a tightly-prescribed manner developed by the company's foremost technical experts second, translating this ability into a tried-and-true competence and/or capability by learning to do the activity consistently well and at an acceptable cost, and then continuing to polish, refine, and sharpen their performance of the competence or capability, striving not just for ongoing improvements but, ultimately, for best-in-industry or best-in-world proficiency

Explanation:

If a company chooses to develop it's competencies and capabilities internally and not externally by maybe choosing to outsource experts or merging or collaborating with companies with required competence and expertise, then they would have to follow through with the process of developing and nurturing internal capability and competencies. To proceed with internal competence, a company would need to hire experts if there are none in the company, these experts would train staff who follow through with the process in the option chosen above.

6 0

3 years ago

Brief Exercise 5-8 Cullumber Company has a unit selling price of $630, variable costs per unit of $300, and fixed costs of $327,

IRISSAK [1]

Answer:

(a)

Mathematical Equation for break-even

F = QP - QV

Where

F = fixed cost

Q = Break-even quantity

P = Selling price

V = Variable cost

F = Q ( P - V )

Q = F / ( P - V )

Q = $327,030 / ( $630 - $300 )

Q = $327,030 / $330

Q = 991 units

(b)

Contribution Margin = Price per unit - Variable cost per unit

Contribution Margin = $630 - $300 = $330

Break-even Point in Units = Fixed Cost / Contribution margin per unit

Break-even Point in Units = $327,030 / $330 = 991 units

Explanation:

Mathematical equation use the the break-even equation which represent the behavior of each element towards the break-even point.

Contribution per unit method use the contribution of each unit to calculate the break-even point.

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3 years ago