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den301095 [7]
2 years ago
5

A work sheet is an internal aid which is helpful in preparing financial (statements/reports). It reduces risk of _ (errors/effec

ts) when working with many accounts and adjustments. g
Business
1 answer:
Citrus2011 [14]2 years ago
3 0

The work sheet reduces <u>risk of errors</u> when working with many accounts and adjustments.

<h3>What is a work sheet?</h3>

A work sheet means an internal document used by companies to help with adjusting, closing accounts and preparation of financial statements

Some benefit of work sheet in preparation of financial statement includes:

  • its reduces the possibility of errors when working with many accounts and adjustments
  • its links accounts and adjustments to their impact on financial statements
  • its helps in preparing interim financial statement
  • its shows the effects of proposed or "what-if" transactions.

In conclusion, the work sheet reduces <u>risk of errors</u> when working with many accounts and adjustments.

Read more about work sheet

<em>brainly.com/question/26251148</em>

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The Michael Miller Corporation has a sales budget for next month of $200,000. Cost of goods sold is expected to be $125,000. All
frutty [35]

Answer:

the  inventory to be purchased next month is $123,000

Explanation:

The computation of the inventory to be purchased next month is shown below:

= Cost of goods sold + closing inventory - opening inventory

= $125,000 + $6,000 - $8,000

= $123,000

hence, the  inventory to be purchased next month is $123,000

We simply applied the above formula so that the purchase value of the inventory could come  

3 0
3 years ago
In preparing a company's statement of cash flows for the most recent year using the indirect method, the following information i
tiny-mole [99]

Answer:

(B) $45,000.

Explanation:

The preparation of the Cash Flows from Operating Activities—Indirect Method is shown below:

Cash flow from Operating activities - Indirect method

Net income $74,000

Adjustment made:

Add : Depreciation expense $52,000

Less: Increase in accounts receivable -$36,000

Less: Increase in inventory -$16,000

Less: Decrease in accounts payable -$29,000

Total of Adjustments -$29,000

Net Cash flow from Operating activities              $45,000

6 0
3 years ago
At a sales volume of 30,000 units, Carne Company's total fixed costs are $30,000 and total variable costs are $45,000. The relev
Anna [14]

Answer:

$2.25

Explanation:

sale volume of company = 30,000 unit

total fixed cost are = $30,000

total variable cost $45,000 for 30,000 unit

1 unit = 45000/30000 =  $ 1 . 5

for the sale of 40,000 unit

the  total expected cost

    = Fixed cost + Variable cost

      = $30,000 + 40,000×$1.50

      = $30,000+$60,000

     = $90,000

Cost per unit:

 = $90,000/40,000

=  $2.25

8 0
4 years ago
An organizationally-driven reason for outsourcing is that it can improve effectiveness by focusing on what the firm does best.
VARVARA [1.3K]

Answer:

True

Explanation:

Outsourcing is when a company gives some of its internal activities to an external party that takes the responsibility to get things done and one of the reasons for a company to do this is to get rid of activities that have to get done but that are not part of their core operations to be able to concentrate on their main activity and get those things done by experts which can help increase productivity. According to that, the answer is that the statement is true.

6 0
3 years ago
What would the new equilibrium price of tutoring services be if carlos decided to stop tutoring?
wariber [46]
Given the table below

\begin{tabular}&#10;{|p {1cm}|p {1.4cm}|p {1.4cm}|p {1.5cm}|p {1.4cm}|p {1.4cm}|}&#10;{Price per hour&Quantity Supplied by Ann&Quantity Supplied by Bob&Quantity Supplied by Carlos&Market Quantity Supplied&Market Quantity Demanded\\[1ex]&#10;\$50&94&35&19&148&5\\&#10;45&93&33&14&140&8\\&#10;40&90&30&10&130&11\\&#10;35&81&27&6&114&16\\&#10;30&68&20&2&90&22\\&#10;25&50&12&0&62&30\\&#10;20&32&7&0&39&39\\&#10;15&20&0&0&20&47\\&#10;10&10&0&0&10&57&#10;\end{tabular}

From the table it can be seen that at the price of $20, the quantity supplied is equal to the quantity demanded equal to 39.

Also notice that at that price, Carlos is not supplying any service.

Therefore, the equilibruim price <span>of tutoring services be if Carlos decided to stop tutoring is $20.</span>
4 0
3 years ago
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