areaif clooney corporation has physical inventory of $53,270 and reports inventory shrinkage of $1,400, what is the company's account balance of merchandise inventory?

Answers

Answer 1

Clooney Corporation's account balance of merchandise inventory is $51,870.

Clooney Corporation's account balance of merchandise inventory can be found by subtracting the inventory shrinkage from the physical inventory. The formula for calculating merchandise inventory is:

Merchandise inventory = Physical inventory - Inventory shrinkage

Plugging in the given values, the account balance of merchandise inventory for Clooney Corporation can be found as:

Account balance of merchandise inventory = Physical inventory - Inventory shrinkage= $53,270 - $1,400= $51,870

Therefore, the company's account balance of merchandise inventory is $51,870. It is important for companies to keep track of their merchandise inventory as it is a key factor in determining their financial performance and profitability.

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Related Questions

What happens when price is above the equilibrium price?

Answers

The amount that is provided and demanded at the same price is known as the equilibrium quantity. There is a natural tendency for the price to decline at a price higher than the equilibrium.

What is an equilibrium?

In terms of economics, a situation in which factors like supply and demand are in balance and the values of economic variables do not change in the absence of external influences is referred to as economic equilibrium. Market equilibrium in this context refers to the circumstance in which a market price is established through competition in such a way that the quantities of goods or services required by buyers and those offered by sellers are equal. However, economic equilibrium also exists and is known as a Nash equilibrium in imperfectly competitive markets. Economic equilibrium is a state in which an economic actor is powerless to change it by any method.

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the client would complain of pain in what quadrant if experiencing appendicitis?

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If a client is experiencing appendicitis, they may complain of pain in the lower right quadrant of their abdomen.

The appendix is located in the lower right corner of the abdomen, and inflammation or infection of the appendix can cause pain in this area. The pain may be constant or come and go, and may be accompanied by other symptoms such as fever, nausea, and vomiting. If you are concerned that a client may be experiencing appendicitis, it is important to seek medical attention immediately, as the condition can lead to serious complications if left untreated.

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why planning is important before starting a business? ​

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Answer:

So you can get ready to know 'how to make your business good'

If you don't plan, then you'll forget to setup something is may be important

Explanation:

Hope this helps :)

Which one of the following businesses would you classify as being in the secondary sector of industry?

A) Oil exploration company
B) Family run farm business
C) Taxi operating business
D) Shoe manufacturer

Answers

Answer:

shoe manufacturer

Explanation:

What specific cryptocurrency was worth $68,000 in november but had fallen to less than $36,000 by the beginning of this week?.

Answers

BITCOINNNNNNNNNNNNNNNNNN

Write the names of sender and receiver of quotation letter in foreign trade.​

Answers

Answer:

Wydm

Explanation:

developing a product strategy involves studying your product and company features but does not involve configuring value-added solutions. true/false

Answers

The statement , "developing a product strategy involves studying your product and company features but does not involve configuring value-added solutions" is False , because it involve configuring value-added solutions.

The Product Strategy is defined as a plan that outlines how a company will market, sell, and support a product or service.

This involves understanding customer needs and preferences, analyzing competitors, identifying market opportunities, and developing a unique value proposition that sets product apart from others in market .

A key aspect of developing a product strategy is identifying the value-added solutions that the product offers to customers.

This may involve configuring the product to meet specific customer needs or developing additional features and services that enhance the value of the product.

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Customer relationship management software does not include information about
A. Current customers
B. Prospective customers
C. Former customers
D. Current Suppliers

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the correct answer to this is A

Customer relationship management software does not include information about current customers, hence option A is correct.

CRM software is intended to track and manage customer interactions. This information contains contact information, purchasing history, and customer comments.

Software, on the other hand, does not often offer information about existing personnel. This is because CRM software is designed to handle external interactions, whereas HR software is designed to manage employee information.

Thus, "Customer relationship management software does not include information about" is A. Current Customers.

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Recording, classifying, and summarizing economic events in a logical manner for the purpose of providing financial information for decision making is commonly called Group of answer choices auditing. economics. finance. accounting.

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Recording, classifying, and summarizing economic events in a logical manner for the purpose of providing financial information for decision making is commonly called accounting.

Accounting is a fundamental process in business and financial management. It involves systematically recording financial transactions, classifying them into appropriate categories, and summarizing the information to create financial statements such as the income statement, balance sheet, and cash flow statement. These financial statements provide a snapshot of a company's financial performance, position, and cash flows, enabling decision-makers to analyze and make informed decisions about the organization's operations, investments, and financial strategies.

While auditing, economics, and finance are related disciplines, each has its own distinct focus. Auditing involves examining and evaluating financial records and statements to ensure accuracy, compliance, and reliability. Economics studies the production, distribution, and consumption of goods and services within an economy. Finance, on the other hand, focuses on managing financial resources, investments, and the financial aspects of decision making. However, accounting serves as the foundation for providing the necessary financial information in these areas.

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a lump sum can be a one-time earlier but not a one-tiime later cash flow.T/F

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The given statement "A lump sum can be a one-time earlier but not a one-time later cash flow" is False because a lump sum can be both a one-time earlier or a one-time later cash flow.

A lump sum refers to a single payment of a large amount of money at a specific point in time. This payment can occur at the beginning or end of a period.

For example, let's say you win a lottery prize of $1 million, and the payment is made in a lump sum. If the payment is made at the beginning of the period, it is a one-time earlier cash flow. However, if the payment is made at the end of the period, it is a one-time later cash flow.

Therefore, a lump sum payment can be classified as either a one-time earlier or a one-time later cash flow depending on the timing of the payment. It is important to consider the timing of cash flows when making financial decisions, as it can impact the overall value of an investment or project.

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Federal Income Taxes
6. Find the tax for each exercise. Use the tax table to do these exercises.
Taxable Income
Filing status
$13,585
$13,800
$13,978
$23,049
$23,200
2.
b.
C.
d.
e.
Single
Married filing jointly
Head of household
Married filing separately
Married filing jointly
Tax

Answers

The federal profits tax prices continue to be unchanged for the 2021 and 2022 tax years: 10%, 12%, 22%, 24%, 32%, 35% and 37%. The profits brackets, though, are adjusted barely for inflation. Read on for extra about the federal profits tax brackets for Tax Year 2021 (due April 15, 2022) and Tax Year 2022 (due April 15, 2023).

What is the distinction between income tax and federal tax?

Federal earnings taxes are gathered by the federal government, while country profits taxes are accrued by means of the individual state(s) where a taxpayer lives and earns income. (It can get problematic if you stay in one state and work in another, which has took place extra frequently at some stage in the pandemic.)

The top 50 percent of all taxpayers paid 97 percentage of all individual earnings taxes, whilst the backside 50 percent paid the ultimate 3 percent. The top 1 percentage paid a higher share of individual profits taxes (38.8 percent) than the backside 90 percent blended (29.2 percent).

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a disadvantage of the corporate form of organization is that corporate stockholders are more exposed to personal liabilities in the event of bankruptcy than are investors in a typical partnership. group of answer choices true false

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The statement "a disadvantage of the corporate form of organization is that corporate stockholders are more exposed to personal liabilities in the event of bankruptcy than are investors in a typical partnership." is false. It is because the corporation is make an easier for the firm to raise capital.

In the term of economic and business, A corporation generally can be defined as a business entity that is owned by its shareholder. The director of corporation is elected by shareholder  to oversee the organization's activities. The corporation has an advantage where make an easier for the firm to raise capital. The corporation's stockholders are not subject to personal liabilities if the firm goes bankrupt and also because it is easier to transfer shares of stock than partnership interests.

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Tasks performed by a housekeeper might include:

A.) check-in guests

B.) vacuum

C.) replace bedcovers

D.) dust

(please help :D)

Answers

Answer:

c and d

Explanation:

Answer:

b, c, or d................

What is the main determinant of profit

Answers

Answer:

The main determinant of profit is in any business is the number of production units.

Hope this helps..

Explanation:

Look for _____ in research information showing preferential treatment or consideration regardless of legitimate reasoning.

credibility
relevance
bias
additional sources

Answers

Answer:

bias

Explanation:

bias is the true anwer

A strategic prospecting plan should include all of the following except?
a. Proper time allocation
b. Goals
c. Evaluation Method
d. Tracking System
e. All of the above are correct:

Answers

All of the options (a, b, c, and d) are correct and should be included in a strategic prospecting plan to maximize its effectiveness.

A strategic prospecting plan serves as a roadmap for an organization's efforts to identify and approach potential customers or clients. Proper time allocation is important because it ensures that sufficient time is dedicated to prospecting activities. Without allocating the necessary time, prospecting efforts may become inconsistent or neglected, resulting in missed opportunities.

Setting clear goals is another essential component of a prospecting plan. Goals help define the desired outcomes and provide direction for prospecting activities. They may include targets for the number of leads generated, appointments scheduled, or conversions achieved. Having well-defined goals keeps the focus on achieving specific results and helps in measuring the effectiveness of prospecting efforts.

An evaluation method is necessary to assess the success and effectiveness of the prospecting activities. It enables organizations to measure their progress, identify areas of improvement, and make data-driven decisions to optimize their prospecting strategies. Evaluation methods may include tracking metrics such as conversion rates, revenue generated from prospects, or the return on investment (ROI) of prospecting initiatives.

Lastly, a tracking system is important for organizing and monitoring prospecting activities. It allows for the recording and management of prospecting interactions, follow-ups, and outcomes. A tracking system helps ensure that leads and prospects are properly managed, and no opportunities are overlooked or lost. It provides visibility into the prospecting pipeline and enables effective communication and collaboration among team members involved in the process.

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Which is better Canes or Zaxbys?

Answers

Canes because they are just better
canes cus they are better ofc ☝️

unless otherwise expressly stated, an auction is considered a(n) _____.

Answers

Unless otherwise expressly stated, an auction is considered a(n) implied reserve auction.

The reasoning behind this classification is that, in an implied reserve auction, there is an undisclosed minimum price (reserve) set by the seller, which must be met for the item to be sold. If bidding does not reach the reserve price, the seller is not obligated to sell the item. In an auction, the seller is not typically required to disclose the reserve price to potential buyers.

This is the default assumption for most auctions unless they are specifically stated as absolute or no-reserve auctions, where the item is sold to the highest bidder regardless of the price.

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Whoever says I WIN first gets a brainliest

Answers

Answer:

I WIN

udyfjctdkbhdyghdgvhfhv

Answer:

i win

Explanation:

:))))

Stephanie supervises a call center department that receives stress-producing calls from unhappy customers. Turnover has increased by 33 percent over the last four months. Stephanie is understanding and patient with her staff, and tells them she knows what they’re going through because it wasn’t so long ago that she took those calls. How would stephanie’s staff describe her style?.

Answers

Stephanie’s staff describe her style as being understanding Sympathetic or  Empathetic

What is Empathy?

Empathy can be defined as the ability to show understanding of what other persons are going through based on ones personal experience on similar issue.

It is also worthy of note that sympathy is showing concern over what we have not experienced

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Outline why it is important for a business owner to respond to technological and global issues when establishing a business?

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Technology enables an increase in the efficiency of systems, products, and services. It helps track and streamline strategies, hold records go with the flow, and control contacts and employee records.

In reality, this expanded efficiency in operation enables lessened costs as well as allows the commercial enterprise to develop swiftly.

Technology has vital consequences on commercial enterprise operations. Irrespective of the scale of your business enterprise, technology has both tangible and intangible advantages that will help you make money and produce the results your customers demand. Technological infrastructure affects the subculture, performance, and relationships of a business.

The use of technology has made commercial enterprises and clients closer in many areas. E-mail and Social Media are getting used for answering queries related to products and services with clients. Giving customers all feasible methods to contact the agency is simple with the latest technology and packages over the internet.

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My question got removed but can someone please help me with what the PESTEL anylasis for covergirl is. Please only real answers no links:)

Answers

Answer:

through this PESTLE Analysis for L’Oreal, the cosmetics and skincare giant, you now have an idea of where the brand currently stands in terms of business.

A brand as prestigious as L’Oreal, with such a rich history behind it, truly is inspiring especially because they managed to lead the market for over 100 years. It really boggles your mind to think they’ve made a century.

The brand although in no way is under even the slightest suspicion of extinction, they still have to work on correcting a few wrongs, the most important of which is completely eliminating animal testing. That will never be brushed under the rug. They also need to be very cautious of the contributing people in their supply chain so as to eliminate all sorts of slavery. They should develop a concrete policy on their use of toxins as well.

You will never be able to view a company in a full 360-degree perspective until you focus on understanding the various macro-economic factors that affect it. These factors play a very big role in shaping up the company’s overall performance. A PEST Analysis will help you not only in the identification but a thorough explanation of all of these factors

PESTLE is simply an acronym for political, economic, socio-cultural, technological, legal, and environmental analysis, which helps one in understanding where a company stands in depth.

You are more than welcome to visit our website if you wish to teach yourself how to work on a PEST analysis. We have all the detail you would need for comprehending the entire process. In fact, for those of you who wish to put their knowledge to practice, we even have the perfect PESTLE Analysis template for you to make things faster.

voluntary contracting can be an effective way of internalizing an externality, but often is effective only when the transaction costs are low relative to the expected benefits. a. true b. false

Answers

Voluntary contracting can indeed be an effective way of internalizing an externality, but its effectiveness is often dependent on the relative costs and benefits involved.

When transaction costs are low compared to the expected benefits, voluntary contracts can efficiently allocate resources and address externalities. Externalities are costs or benefits that are not fully accounted for by the parties involved in a transaction. They are often imposed on or received by third parties who are not part of the transaction. In the case of negative externalities, such as pollution or noise, the costs are imposed on others. In the case of positive externalities, such as education or research, the benefits accrue to others. Voluntary contracting allows parties to negotiate and enter into agreements that internalize these externalities by incorporating the costs or benefits into the transaction.

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Which of these producer activities did you participate in this week? Check all that apply.
U
I served people at a restaurant, hotel, coffee shop, or other business.
I worked in a bank, library, or retail store.
I created art to be sold in an art show
I made a product
I did yard work or other chores for pay.

Answers

Answer:

2nd and 4th

Explanation:

Answer:

2 and 4

Explanation:

what is the effect of overlapping activities that are not on the critical path? multiple choice an earlier project completion time

Answers

The effect of overlapping activities that are not on the critical path is earlier project completion time. Overlapping activities refer to the task that happens simultaneously or at the same time.

It is a process of doing two activities simultaneously in a project management technique. When two activities occur at the same time, it is referred to as the "overlapping activities. The critical path is the sequence of activities that must be completed on time to ensure the project is completed on time. Critical path activities are activities that have zero slack or float. If any of the activities on the critical path are delayed, the project completion date will be postponed, causing an increase in cost and other risks.

Effect of overlapping activities that are not on the critical path: When activities are overlapping, it increases the efficiency of the project and shortens the duration of the entire project, resulting in earlier project completion time. Overlapping activities that are not on the critical path shorten the duration of the project because they do not affect the critical path activities, which are the most critical activities that must be completed on time to avoid project delays.

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Is the total of your fixed and variable expenses your cash flow

Answers

Answer:

mabey

Explanation:

Which of the following describes the business ethical climate in the 1960s?
A.)Healthcare emphasized
B.)Public pushed for corporate accountability
C.)Anti-war sentiment
D.) Major industries riddled by scandal


please help me i need answer by today

Answers

This can be a subjective answer.

Mostly D.

No EPA: rivers so fouled by raw sewage and fuel contamination there were literally fires on the surface of some near major industries.

The military industrial complex was reaping large profits off Cold War and later Vietnam war.

Not all business were culpable but major reforms and legislative actions had to be enacted forcing the abusers to clean up their act.!

Problem 3-5A (Algo) Production cost flow and measurement; journal entries LO P3, P4 [The following information applies to the questions displayed below.] Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter production at the beginning of the cutting process. The following information is avallable regarding its May inventories. The following additional information detscribes the company's production activities for May. Required: 1. Compute the amount of (a) production costs transferred from Cutting to Stitching. (b) production costs transferred from Stitching to finished goods, and (c) cost of goods sold. Hint: Compute the total production costs in each department and then subtract the ending Inventory to get the amount transferred out of each department. 2. Prepare May 31 journal entries to record the following May activities: a. Raw materials purchases b. Direct materials used c. Indirect materials used d. Direct labor used e. Indirect labor used f. Other overhead costs paid in cash g. Overhead applied h. Goods transferred from Cutting to Stitching i. Goods transferred from Stitching to finished goods j. Sales (on account) k. Cost of goods sold

Answers

To compute the amount of production costs transferred between departments and the cost of goods sold, we need to subtract the ending inventory from the total production costs in each department.

The May journal entries for Sierra Company include recording raw materials purchases and usage, direct and indirect labor usage, other overhead costs paid, overhead applied, goods transferred between departments and to finished goods, sales, and cost of goods sold. Problem 3-5A (Algo) Production cost flow and measurement; journal entries LO P3, P4

The following information applies to the questions displayed below. Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter production at the beginning of the cutting process. The following information is available regarding its May inventories.

The following additional information describes the company's production activities for May.

Required: 1. Compute the amount of (a) production costs transferred from Cutting to Stitching. (b) production costs transferred from Stitching to finished goods, and (c) cost of goods sold.

Hint: Compute the total production costs in each department and then subtract the ending Inventory to get the amount transferred out of each department.

2. Prepare May 31 journal entries to record the following May activities: a. Raw materials purchases b. Direct materials used c. Indirect materials used d. Direct labor used e. Indirect labor used f. Other overhead costs paid in cash g. Overhead applied h. Goods transferred from Cutting to Stitching i. Goods transferred from Stitching to finished goods j. Sales (on account) k. Cost of goods sold

To compute the amount of production costs transferred from Cutting to Stitching, we can subtract the ending inventory from the total production costs in the Cutting department. To compute the amount of production costs transferred from Stitching to finished goods, we can subtract the ending inventory from the total production costs in the Stitching department. To compute the cost of goods sold, we can subtract the ending inventory from the total production costs for both the Cutting and Stitching departments.

The journal entries to record the May activities are as follows:

Raw materials purchases - DR Raw Materials, CR Accounts PayableDirect materials used - DR Direct Materials, CR Raw MaterialsIndirect materials used - DR Indirect Materials, CR Accounts PayableDirect labor used - DR Direct Labor, CR Wages PayableIndirect labor used - DR Indirect Labor, CR Wages PayableOther overhead costs paid in cash - DR Other Overhead, CR CashOverhead applied - DR Overhead, CR Work in ProcessGoods transferred from Cutting to Stitching - DR Work in Process, CR Finished GoodsGoods transferred from Stitching to finished goods - DR Work in Process, CR Finished GoodsSales (on account) - DR Accounts Receivable, CR SalesCost of goods sold - DR Cost of Goods Sold, CR Finished Goods

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according to your textbook, in addition to the personal manager, who should approve the selection of a business manager, accountant, or auditor?

Answers

According to your textbook, Artists approve the selection of a business manager, accountant, or auditor.

A personnel supervisor is in regular interplay with employees and therefore has to cultivate features to create superb place-of-work relationships. Such features include respect for human values, personal integrity, and empathy for problems facing personnel, according to the control look at manual. The personal manager makes enterprise decisions on your behalf, along with your consent or in any other case, relying on your agreement. They negotiate vital offers on your behalf, make certain that the decisions are for your quality hobby, and sell your logo and tune.

The maximum not unusual diploma is a bachelor's degree with a business principal. It usually takes 4-6 years of revel in to end up an employee's supervisor. personnel managers with a licensed professional - Human useful resource (IPMA-CP) certification earn more money.

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Prepare a balance sheet in proper format for the company as of December 31st based on the following accounts. Answer questions 8 through 10 based on this balance sheet.

Answers

Answer:

Total liabilities = $25,000

Explanation:

Missing information;

Accounts Payable  = $5,000

Long-term Notes Receivable  = $10,000

Accounts Receivable  = $15,000

Accrued Expenses  = $3,000

Cash  = $10,000

Short-term Notes Payable  = $7,000

Retained Earnings  = $2,000

Accumulated depreciation  = $2,000

Prepaid Expenses  = $3,000

Capital Stock  = $8,000

Supplies  = $7,000

Find:

Total liabilities

Computation:

Total liabilities = Accounts Payable  + Capital Stock  + Short-term Notes Payable + Accrued Expenses + Retained Earnings

Total liabilities = 5000 + 8000 + 7000 + 3000 + 2000

Total liabilities = $25,000

Other Questions
However, we in the audience know that Juliet is not really dead, she merely took a potion to make it look like she was dead for her own motives. When the audience of a story knows more than the characters involved, what type of irony is employed HELPPPPPPPPPPPPPSolve for x: two fifths(x 2) = 4x. x = two ninths x = 2 x = negative two ninths x = negative nine halves I need help please. How do I do this can someone help me plss How do you think improving technology to identify locations of fossil fuels could benefit people and the environment? Does the following compound contain a polyatomic ion? Na2SO4YesNo the subject matter of films in latin america are currently controlled by dictators and religious groups.A.TrueB.False Determine whether (2,6) is a solution of y = 19x + 10. For the following equation, complete the given ordered pairs.3x + y = 10 (__, 1), (2, __) A. (10, 1), (2, 12) B. (0, 1), (2, 3) C. (3, 1), (2, 4) D. (2, 1), (2, 5) change that into your own words. someone pls helpp plsss How can formal business documents help managers solve problems? A. By presenting well-organized, accurate information about a problem O B. By eliminating the need for schedules and budgets to track progress C. By making decisions so the managers do not have to handle them O D. By creating a record of every action taken during a meeting Hydrogen chloride was passed over 2. 24g of heated iron in a hand test tube, 5. 08g of compound was formed. What is the formula of compound x? (fe=56,cl=35. 5) Find the volume of the prism. Annabelle went to the grocery store and bought bottles of soda and bottles of juice.Each bottle of soda has 30 grams of sugar and each bottle of juice has 1o grams ofsugar. Annabelle purchased 3 times as many bottles of juice as bottles of soda andthey all collectively contain 120 grams of sugar. Graphically solve a system ofequations in order to determine the number of bottles of soda purchased, T, and thenumber of bottles of juice purchased, y. Determine if the expression 3d^(5)c-2c^(3)d^(2) is a polynomial or not. If it is a polynomial, state the type and degree of the polynomial. __________ points for the Defense and a ____________________ occurs during a Flag Football game the quarterback runs into his own end zone attempting to avoid the defensive pursuit, but while he is still in the end zone a player pulls his flag. Please help with this question.The model represents an equation. What value of X makes the equation true?A) 9B) 9/4C) -9D) - 9/4 Martin Luther said that people only need to recognize Christ to get to heaven, but that the pope can also tell people how to get to heaven True or False Joe owns a restaurant. Many of the restaurants that he competes with recently closed, shifting his perceived demand curve. The following 2 tables show his old and new perceived demand curves.Original Demand CurvePrice Quantity TC$20 0 $1,000$18 100 $1,100$16 200 $2,000$14 300 $4,000$12 400 $7,000New Demand CurvePrice Quantity TC$25 0 $1,000$23 100 $1,100$21 200 $2,000$19 300 $4,000$17 400 $7,000Assume that Joe can only choose from the quantities of output given in the table.By how much does the price that he charges change after the restaurants leave the market?a) increase by 3b) increase by 4c) decrease by 4d) decrease by 3If you can please show me how to get the right answer, please. I keep getting the answer 5 which is not an option. what fraction of a semicircle is an angle that measures 11pi/18 radians? express your answer as a fraction in simplest terms