If the Budgetary fund balance account was debited when the budget was recorded in the City of Mustangville's General Fund, then:__________.
a. appropriations exceed estimated revenues
b. actual expenditures exceed appropriations
c. estimated revenues exceed appropriations
d. appropriations exceed actual revenues
Answers
Answer: a. appropriations exceed estimated revenues
Explanation:
A Budgetary Fund Balance is simply an account that Government agencies and Departments have to calculate the difference between expected inflows and Outflows for the period that a budget covers.
It is a temporary account with it's balance going to the General fund. If it is debited in the General fund then that means that Appropriations approved for the period are more than the revenues expected. The reverse is true.
Related Questions
The operating budget provides a roadmap for financial plans for a short-term, future period. What is a typical “future period” for an operating budget?
Answers
An operating budget is a financial statement that outlines the organization's expenditures and revenues for a specific period.
The operating budget is typically for a fiscal year, which is usually twelve months. The future period for an operating budget is usually a fiscal year or less than a year. The operating budget is critical because it establishes guidelines for financial activities and operations in an organization. It provides a roadmap for financial plans for a short-term, future period, which typically begins on January 1st and ends on December 31st.
An organization creates an operating budget to aid in the allocation of resources and expenditures to achieve its objectives for a given period. A typical operating budget is for a fiscal year. A fiscal year is the period when an organization prepares its financial statements. It is usually 12 months, but it may be shorter or longer depending on the organization. An operating budget typically covers one fiscal year; however, it may be longer or shorter based on the organization's preferences.
The future period for an operating budget is frequently updated to reflect the company's current situation and financial standing. It takes into account the actual results of the previous period and the estimated expenditures and revenues for the upcoming year to develop the operating budget for a future period.
Know more about Operating budget here:
https://brainly.com/question/30766715
#SPJ8
Refer to the above diagram of the market for corn. If the price in this market is $2 per bushel, then there will be? (The graph and answer choices are in the picture below)
Answers
If the price in this market is $2 per bushel, then there will be a shortage of about 8,000.
What is a shortage?A shortage occurs when the price of a good is below the equilibrium price. This would result in the quantity demanded of the good to be in excess of the quantity supplied.
Equilibrium is the point on a graph where the quantity demanded is equal to the quantity supplied. $2 is below the equilibrium price of $3, thus, there would be a shortage.
Shortage = quantity demanded - quantity supplied.
$12,000 - $4,000 = $8,000
To learn more about shortages, please check: https://brainly.com/question/26668090
#SPJ1
Management consultant David Clutterbuck's model traces a team's growth from start-up to maturity in five phases. What is the correct order of these phases ?
Answers
The correct order of the five phases in David Clutterbuck's model for a team's growth from start-up to maturity is A. Gathering, Initiation, Becoming a Team, Becoming a High-Performing Team, Continuous Reinvention.
What is the David Clutterbuck's model ?David Clutterbuck's model for a team's growth from start-up to maturity is based on five phases that describe the development process of a team. Gathering is the initial phase when a group of individuals come together and form a team.
Initiation this phase, the team begins to establish its goals, roles, and responsibilities. Becoming a Team this stage, the team members start working together and develop a shared sense of accountability.
Becoming a High-Performing Team phase, the team is highly effective and efficient. Continuous Reinvention is final phase is about continuously improving the team's performance.
Find out more on team growth phases at https://brainly.com/question/25637878.
#SPJ1
how do supply and demand work together to influence the price of a product
Answers
Visit any local business organization and prepare a field report by including the following contents (not less than 800 words): Name of business organization. Nature and type of business organization. The main objectives of business organization. The activities done in business: Products and services dealing. Analysis of either the business is in divergence or convergence position. If divergence position, analyze the areas of divergence or if convergence, how is it processing? How the business idea was created? Explain.
Answers
The field report will encapsulate the entire experience had while on the visit such as: XYZ Enterprises is a well-established local business organization that operates in the manufacturing and distribution of consumer electronics and home appliances.
What should constitute the field report?The field report is expected to have the following content (title, body-content, and conclusion) with a template given below:
Title: Visit to XYZ Enterprises
Introduction: During my recent field visit, I had the opportunity to explore and analyze the operations of XYZ Enterprises, a prominent local business organization in the area. This report aims to provide a comprehensive overview of the company, its nature and type, objectives, activities, and its position in terms of convergence or divergence. Additionally, I will delve into the creation of the business idea and its development process.
1. Name of Business Organization: The business organization under study is XYZ Enterprises.
2. Nature and Type of Business Organization: XYZ Enterprises is a manufacturing and distribution company specializing in the production and sale of high-quality consumer electronics and home appliances. The company operates on a large scale and has a well-established presence in the local and regional markets.
3. Main Objectives of Business Organization: The primary objectives of XYZ Enterprises include:
a) Providing customers with innovative and reliable electronic products and appliances.
b) Ensuring customer satisfaction through superior product quality and after-sales services.
c) Expanding market share and establishing a strong brand presence.
d) Maximizing profitability and achieving sustainable growth.
4. Activities of the Business: Products and Services Dealing: XYZ Enterprises engages in a range of activities to accomplish its business objectives. The company designs, manufactures, and distributes various electronic products such as televisions, smartphones, laptops, and home appliances like refrigerators, washing machines, and air conditioners. Furthermore, XYZ Enterprises provides comprehensive after-sales services, including repairs, warranty claims, and customer support.
5. Analysis of Convergence or Divergence Position: Based on my observations and analysis, XYZ Enterprises is currently in a convergence position. The company has strategically aligned its operations with the changing market demands and customer preferences. This can be seen through its efforts to introduce innovative products, expand its product portfolio, and enhance customer experience through efficient after-sales services.
6. Development of the Business Idea:
The business idea of XYZ Enterprises was conceived through a combination of market research, industry analysis, and the vision of the company's founders. The initial concept revolved around addressing the growing demand for reliable and technologically advanced consumer electronics and home appliances. The founders recognized the opportunity to establish a brand that prioritized quality, innovation, and customer satisfaction.
To transform this idea into a tangible business, extensive research and planning were undertaken. The team analyzed market trends, consumer behavior, and the competitive landscape to identify gaps and potential areas for differentiation. This led to the development of a comprehensive business plan, outlining the company's strategic direction, target markets, product range, and marketing strategies.
7. Areas of Convergence: Within the convergence position, XYZ Enterprises focuses on several areas to drive its success:
a) Product Innovation
b) Customer Experience
c) Market Expansion
d) Brand Building
In conclusion, XYZ Enterprises is a well-established local business organization that operates in the manufacturing and distribution of consumer electronics and home appliances. The company has set clear objectives to provide innovative and reliable products, ensure customer satisfaction, and achieve sustainable growth.
learn more about field report: https://brainly.com/question/30025157
#SPJ1
Which of the following is considered the more industrial form of fishing?
A: Grouping
B: Netting
C: Gathering
Answers
Answer:
B
Explanation:
I hear netting a lot when people talk about fishing. I don't hear the other two when talking about fishing.
The owner of a restaurant is an example of ______ while the waiter at the restaurant is an example of _____
Group of answer choices
Labor, Entrepreneur
Business Capital, Labor
Labor leader, Capital leader
Entrepreneur, Labor
Answers
Sorting forms of payments
Q; Sort the forms of payment into the two categories
Answer down below
Have money at time of purchase
- cash
- debit card
- check
Borrow money to make purchase
- credit card
Answers
Answer:
Have money at time of purchase.
Cash
For cash to be used to purchase something, the person must already have the required amount of cash in their possession already.
Debit Card.
Debit cards pay for purchases by using funds in the owner's bank account. This means that for a purchase to be processed, the owner must have funds in their account in the first place.
Check
This works much like the debit card above. If one wants to use a check, their bank account needs to have funds at the time of purchase so that the funds can pay for the purchase.
Borrow money to make a purchase
Credit Card
Credit card represent a debt owed to the issuing company that will need to be paid off eventually. This means therefore that whenever you use a credit card to make a purchase, you are borrowing the money used to fund the purchase.
is .org a good website?
Answers
Answer:
If you are talking about reliability-wise, when a ULR ends with .org, it may be a trusted website, it just depends on what the organization is. If you want a more reliable website to use try finding one with .gov at the end of the ULR. These are government moderated websites.
James received a raise after his first year on the job to $43,800 from his initial salary of $42,000. Inflation averaged 2.8% for that first year. In real terms (i.e., adjusted for inflation), what was his real raise stated as a percentage?
The calculation for percentage change of personal income is:
Group of answer choices
4.29%
2.29%
5.29%
1.29%
Answers
The calculation for percentage change of personal income is A. 4.29%. that is, the real raise of salary in percentage is 4.29%.
What is inflation?The overall rise in prices of goods and services over time in an economy is referred to as inflation. When inflation occurs, people may purchase fewer products and services with the same amount of money because the purchasing power of a unit of currency declines.
How do you determine it?James's initial income of $42,000 must be adjusted for inflation before being compared to his current compensation of $43,800 in order to determine his actual raise. The inflation rate was 2.8%.
Raise in salary = 43800 - 42000 = $1800
Therefore, real raise of salary in percentage is:
= Raise in salary/ initial salary x 100%
= 1800/42000 x 100%
= 4.285% = 4.29%
To know more about inflation, visit:
brainly.com/question/28190771
#SPJ1
Using the SMART goal-writing criteria, what refers to asking how to achieve the goal?
A:Realistic
B:Specific
C:Attainable
D:Measurable
The answer is specific
Explication:just got a 100%
Answers
Answer:
A. Realistic
Explanation:
Realistic is asking if you can realistically achieve your goal and how.
You have 24 cups of milk.
You need 1.25 cups to make one serving of deep-fried chicken.
How many servings can you make? Whole servings only - round down
rather than using partial servings.
Answer:
to make a servings of roast beef gravy.
Answers
Answer:
19.2 serving
Explanation:
Because if you have 24 cups of milk and need 1.25 cups to make 1 serving we would have to divide.
24 cups of milk - 1.25 cups of milk per serving = 19.2
Fickel Company has two manufacturing departments—Assembly and Testing & Packaging. The predetermined overhead rates in Assembly and Testing & Packaging are $19.00 per direct labor-hour and $15.00 per direct labor-hour, respectively. The company’s direct labor wage rate is $21.00 per hour. The following information pertains to Job N-60: Assembly Testing & Packaging Direct materials $ 375 $ 39 Direct labor $ 168 $ 84 Required: 1. What is the total manufacturing cost assigned to Job N-60? (Do not round intermediate calculations.) 2. If Job N-60 consists of 10 units, what is the unit product cost for this job?
Answers
The total manufacturing cost assigned to Job N-60 is $ 696. If Job N-60 consists of 10 units, the unit product cost for this job is $111.00.
How to find the manufacturing costs ?Direct materials (Assembly + Testing & Packaging) = $375 + $39
= $414
Direct labor (Assembly + Testing & Packaging) = $168 + $84
= $252
Overhead applied (Assembly + Testing & Packaging) = $19 * 168 + $15 * 84 = $316 + $126
= $442
Total manufacturing cost = $414 + $252 + $442
= $1110
Unit product cost = Total manufacturing cost / Number of units
= $1110 / 10
= $111.00
Find out more on manufacturing costs at https://brainly.com/question/24171150
#SPJ1
A long-term incentive is a type of
incentive given to employees that
is designed to be paid over
or longer.??
Answers
You are a board member on the hospital finance committee.
The Chief Financial Officer (CFO) is delivering the year end financial report to the finance committee members, of which you are on.
The report is not good because the hospital is in financial trouble and the CFO is under tremendous stress to get the hospital profitable again.
The CFO says:
“we are facing so many financial pressures from all sides.
we never seem to have enough cash and other current assets
to meet our on-going expenses.
Our creditors are unhappy with us because we are late paying our bills.
Expenses are rising and our revenues are dropping.
The unions are asking for high wage increases and threatening
a general strike if their demands are not met.
What’s more, our diagnostic equipment keeps breaking down
and we are not keeping up with patient wait lists for diagnostic screening.
To make matters worse, the bank refuses to lend us any more money because
we are having difficulty managing our existing debt.”
Answers
Practice owners can more efficiently track and analyse their costs and, consequently, the total cost of associated patient outcomes by making investments in specialist medical equipment and research thru a financial management business.
What are the steps CFO should take?A hospital's or hospital systems' chief financial officer has the responsibility of managing all economic risks for the company and ensuring that a hospital or medical system operates as economically as possible. They are in responsible of handling the majority of planning funds and record keeping.
The top financial state in an organisation is held by the chief financial officers. With precise financial data, hospitals or other healthcare providers can make crucial financial decisions to enhance their operations, which will raise the standard of treatment and systems for patient involvement.
To know more about medical equipment visit:
https://brainly.com/question/4306261
#SPJ1
Pd 4(A) Set 2 iz Question 7 (1 point) When investing in individual stocks, you should expect that... O a Stock prices for a company are relatively easy to predict d GRADES Next Page Back Unforeseen company events can have a dramatic impact on the stock price for a company You will have an informational edge by reading an article about a company you want to invest in Stock prices for an individual stock will be more stable over the long-term than prices for a diversified index fund S ✓ Sub Question 7 of 19 |
Answers
An investor should carefully consider their risk tolerance and investment goals before deciding whether to invest in individual stocks or index funds.
When investing in individual stocks, you should expect that unforeseen company events can have a dramatic impact on the stock price for a company. This is because the company's stock price reflects not only the company's current financial situation but also investors' expectations for the company's future performance.Unforeseen company events such as changes in leadership, new competitors, or regulatory changes can cause investors to reassess their expectations for the company's future performance, which can lead to fluctuations in the stock price.An investor should not expect that stock prices for a company are relatively easy to predict. This is because stock prices are influenced by a variety of factors, including company financial performance, economic conditions, market trends, investor sentiment, and geopolitical events. While some investors may try to predict stock prices using technical analysis or fundamental analysis, it is important to recognize that these methods have limitations and cannot guarantee accurate predictions.An investor can gain an informational edge by reading an article about a company they want to invest in. Reading articles about a company can provide valuable insights into the company's financial situation, growth prospects, and risks. However, it is important to recognize that reading articles is only one part of the investment process and should be supplemented by other sources of information, such as financial statements, analyst reports, and market data.An investor should not expect that stock prices for an individual stock will be more stable over the long-term than prices for a diversified index fund. In fact, individual stocks are generally more volatile than index funds because they are more susceptible to company-specific risks. By contrast, index funds are diversified across multiple companies and sectors, which can help to reduce overall portfolio risk.
for such more questions on investor
https://brainly.com/question/29547577
#SPJ8
During 2018, Raines Umbrella Corp. had sales of $810,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $580,000, $90,000, and $135,000, respectively. In addition, the company had an interest expense of $91,000 and a tax rate of 21 percent. (Ignore any tax loss carryforward provisions and assume interest expense is fully deductible.) Suppose the company paid out $55,000 in cash dividends. If net capital spending and net working capital was zero, and if no new stock was issued during the year, what is the net new long-term debt
Answers
Answer:
$6,000
Explanation:
The computation of the net new long term debt is as follows:
But before that following calculations to be done:
Sales $810,000
Less: COGS ($580,000)
Less: S&A Expenses ($90,000)
Less: Depreciation ($135,000)
EBIT $5,000
Less: Interest ($91,000)
Taxable Income ($86,000)
Less: Taxes(21%) $0
Net Income(loss) ($86,000)
Now
OCF = EBIT + Depreciation - Taxes
= $5,000 + $135,000 - $0
= $140,000
Change in NWC = Net capital spending = Net new equity = 0
Cash flow from assets = OCF - Change in NWC - Net capital spending
= $140,000 - $0 - $0
= $140,000
Cash flow to stockholders = Dividends - Net New Equity
= $55,000 - $0
= $55,000
Cash flow to creditors = Cash flow from assets - Cash flow to stockholders
= $140,000 - $55,000
= $85,000
Cash flow to creditors = Interest - Net new LTD
$85,000 = $91,000 - Net new LTD
So,
Net new LTD is
= $91,000 - $85,000
= $6,000
When do many companies expect to have a net loss? (Select three answers)
a. after they break even
b. when they have a gross profit
c. when they are first getting established
d. before they start having operating expenses
Answers
Answer:
C- When they are first getting established
Explanation:
Edge 2022
Consider the project performance report presented in figure 14.1. What valid conclusion can you draw regarding the project schedule performance as of October 31, 20XX?
Select one:
a. The project is $26,000 behind schedule.
b. The project is 18 days behind schedule.
c. The project is $26,000 ahead of schedule.
d. The project is $18,000 behind schedule.
Figure 14.1 Drug Surveillance Aircraft Project - Monthly Performance Report
(October 31, 20XX)
Answers
Note that in this project management prompt, it is correct to state that "the project is $26,000 behind schedule." (Option A).
What is the rationale for the above response?While planned value refers to the quantity of work that should have been done by a certain point in the schedule, earned value refers to the amount of work that has actually been performed. If the earned value exceeds the projected value, it shows that the project is on track.
The actual cost incurred for work completed on an activity during a given time period is referred to as the actual cost. In other words, the cost you experience while performing the job for which EV is calculated.
So since the Planned Value is $342,000 and the Earned Value is $316,000, note that the difference of $26,000 if the value by which the project is behind.
Learn more about Planned Responses:
https://brainly.com/question/17128318
#SPJ1
In general, which of the following is NOT a common source of conflict between friends? A. gangs and cliques B. envy and jealousy C. developing common interests D. anger Please select the best answer from the choices provided. A B C D
Answers
Answer:
C.) Developing Common Interests
Explanation:
the dude above me is not smart
Answer:
C edge2020
Explanation:
The straight-line depreciation method and the double-declining-balance depreciation method: A. Produce the same depreciation expense each year. B. Are the only acceptable methods of depreciation for financial reporting. C. Are acceptable for tax purposes only. D. Produce the same total depreciation over an asset's useful life. E. Produce the same carrying amount or book valueeach year.
Answers
The relationship between the straight-line and double-declining-balance method is that they D. Produce the same total depreciation over an asset's useful life.
How are the straight-line and double-declining-balance methods related?While they do not produce the same depreciation every year, they will eventually depreciate an asset in the same way overtime.
What this means is that both methods will depreciate an asset by the same amount at the end of the asset's life. However, the depreciation amounts will vary by method on an annual basis.
In conclusion, option D is correct.
Find out more on depreciation methods at https://brainly.com/question/26948130.
what is business management
Answers
Business management is the process of organizing, planning, leading, and controlling the resources of an organization to achieve its goals and objectives.
Business management involves coordinating human, financial, and technological assets to ensure the organization's success. In business management, managers develop strategies, implement policies, and make decisions to direct the operations of the company. They also monitor performance and make necessary adjustments to achieve desired outcomes. Key components of business management include strategic planning, operational management, human resource management, financial management, and marketing management. By effectively managing these elements, business managers help organizations maximize profits, maintain a competitive edge, and create a sustainable growth path. Overall, business management is crucial for the success and growth of any organization, as it allows for the efficient utilization of resources and the achievement of strategic objectives.
For similar question on Business management:
https://brainly.com/question/28072798
#SPJ11
What is the source of funds for transactions completed with debit cards
Answers
Answer:
The cardholder checking account
Explanation:
A debit card facilitates remote access to a customer's funds held in a checking account. The cardholder can make payments for goods and services using the money in their account through the debit card. Therefore, every debit card transaction reduces the customer's bank balance immediately. Should the customer have insufficient funds in their account, the payment will fail.
Answer:
Explanation:bank account
Determine the total expenses based on the following data
assets 72,000
owner's equity 70,000
revenues 20,000
liabilities 16,000
Answers
From the given data, it appears that the expenses result in a negative value of $-14,000. This indicates a deficit, which suggests that the company's liabilities and owner's equity exceed its assets.
To determine the total expenses based on the given data, we need to use the accounting equation: Assets = Liabilities + Owner's Equity. In this case, we are given the values of assets, owner's equity, and liabilities.
Assets = $72,000
Owner's Equity = $70,000
Liabilities = $16,000
Using the accounting equation, we can calculate the total expenses by rearranging the equation:
Expenses = Assets - Liabilities - Owner's Equity
Expenses = $72,000 - $16,000 - $70,000
Expenses = $-14,000
for more questions on expenses
https://brainly.com/question/28995167
#SPJ8
3. Using the TGT Quarterly Sales (Target Corp.) data:
a. Fit a regression model with a time trend and seasonal dummy variables to the sales data.
b. Is the time trend coefficient statistically significant? How can you tell?
c. Are the seasonal dummy variables statistically significant? How can you tell?
Answers
b) all variables are significant as their p-value is less than 0.05
How to solveuse =IF((MOD(C2,4)=1),1,0) for Q1
=IF((MOD(C2,4)=2),1,0) for Q2
=IF((MOD(C2,4)=3),1,0) for Q3
Sales Period Q1 Q2 Q3
14833 1 1 0 0
15067 2 0 1 0
15276 3 0 0 1
20181 4 0 0 0
15593 5 1 0 0
15532 6 0 1 0
15605 7 0 0 1
20661 8 0 0 0
15935 9 1 0 0
16240 10 0 1 0
16402 11 0 0 1
21288 12 0 0 0
16867 13 1 0 0
16779 14 0 1 0
16929 15 0 0 1
22726 16 0 0 0
16706 17 1 0 0
17117 18 0 1 0
17258 19 0 0 1
21515 20 0 0 0
17050 21 1 0 0
17406 22 0 1 0
17732 23 0 0 1
21751 24 0 0 0
17119 25 1 0 0
17427 26 0 1 0
17613 27 0 0 1
21626 28 0 0 0
16196 29 1 0 0
16169 30 0 1 0
16441 31 0 0 1
SUMMARY OUTPUT
Regression Statistics
Multiple R 0.967364502
R Square 0.935794079
Adjusted R Square 0.925916245
Standard Error 611.1965097
Observations 31
ANOVA
df SS MS F Significance F
Regression 4 141559915.4 35389978.84 94.73676965 4.14866E-15
Residual 26 9712590.51 373561.1735
Total 30 151272505.9
Coefficients Standard Error t Stat P-value Lower 95%
Intercept 20387.66234 303.6073655 67.15140886 1.12253E-30 19763.58846
Period 62.80681818 12.31290458 5.100893765 2.57549E-05 37.49728035
Q1 -5042.38961 316.5637949 -15.92851012 6.26883E-15 -5693.09581
Q2 -4925.446429 316.324246 -15.57087859 1.07184E-14 -5575.660228
Q3 -4798.378247 316.5637949 -15.15769751 2.01716E-14 -5449.084446
y^ = 20387.66234 + 62.806818*t -5042.3896*Q1 -4925.44643*Q2 -4798.378247 *Q3
b) all variables are significant as their p-value is less than 0.05
c)
22397.48
22460.29
22523.09
22585.9
respectively
Read more about regression model here:
https://brainly.com/question/28580475
#SPJ1
If consumers start to believe they need a product, what is likely to happen?
A. The demand becomes less elastic.
В. The demand becomes more elastic.
C. The supply decreases.
D. The price decreases.
Answers
Answer:
i think its D, cause its what stores want. to make people want to have something so enable to get peoples attention they would make the product more pricy.'
Answer:
A. The demand becomes less elastic.
Explanation:
For ed2020, this is the correct answer.
Merchandising transactions.
ABC Company distributes merchandises to retail stores. During the month of July, the following merchandising transactions were occurred.
July 1: Purchased 600 units of merchandises on account from XYZ Manufacturers, FOB destination, terms 2/10, n/30. The merchandise has a list price of Birr 150 per unit with the trade discount of 20%. The appropriate party also made a cash payment of Birr 800 for freight on this date.
3: Sold merchandises on account to Satchel World for Birr 8,200. The cost of merchandises sold was Birr 5,400.
9: Paid XYZ Manufacturers in full.
12: Received payment in full from Satchel World.
17: Sold merchandises on account to Lady GoGo for Birr 5,400 which is subject to a sales tax of 15%. The cost of the merchandises sold was Birr 4,030.
18: Purchased merchandises on account for Birr 3,900 from Holiday Manufacturers, FOB shipping point, terms 1/10, n/30. The appropriate party also made a cash payment of Birr 750 for freight on this date.
20: Received Birr 900 credit for merchandises returned to Holiday Manufacturers.
21: Received payment in full from Lady GoGo.
22: Sold merchandises on account to Vagabond for Birr 6,400. The cost of merchandises sold was Birr 4,300.
30: Paid Holiday Manufacturers in full.
31: Granted Vagabond Birr 400 credit for merchandises returned costing Birr 280.
Instructions
Journalize the transactions for the month of July for ABC Company using:
Perpetual inventory system
Periodic inventory system
Answers
Journalizing the transactions for the month of July for ABC Company using the perpetual and periodic inventory systems is as follows:
Journal Entries under the Perpetual Method:July 1: Debit Inventory Birr 72,000
Credit Accounts Payable (XYZ Manufacturers) Birr 72,000
FOB destination, terms 2/10, n/30. The merchandise has a list price of Birr 150 per unit with a trade discount of 20%.
July 3: Debit Accounts Receivable (Satchel World) Birr 8,200
Credit Sales Revenue Birr 8,200
Debit Cost of goods sold Birr 5,400
Credit Inventory Birr 5,400
July 9: Debit Accounts Payable (XYZ Manufacturers) Birr 72,000
Credit Cash Birr 70,560
Credit Cash Discounts Birr 1,440
July 12: Debit Cash Birr 8,200
Credit Accounts Receivable (Satchel World) Birr 8,200
July 17: Debit Accounts Receivable (Lady GoGo) Birr 6,210
Credit Sales Revenue Birr 5,400
Credit Sales Tax Payable Birr 810
Subject to a sales tax of 15%.
Debit Cost of goods sold Birr 4,030
Credit Inventory Birr 4,030
July 18: Debit Inventory Birr 3,900
Credit Accounts Payable (Holiday Manufacturers) Birr 3,900
FOB shipping point, terms 1/10, n/30.
Debit Freight-in Birr 750
Credit Cash Birr 750
July 20: Debit Accounts Payable (Holiday Manufacturers) Birr 900
Credit Inventory Birr 900
For merchandise returned to Holiday Manufacturers.
July 21: Debit Cash Birr 6,210
Credit Accounts Receivable (Lady GoGo) Birr 6,210
July 22: Debit Accounts Receivable (Vagabond) Birr 6,400
Credit Sales Revenue Birr 6,400
Debit Cost of goods sold Birr 4,300
Credit Inventory Birr 4,300
July 30: Debit Accounts Payable (Holiday Manufacturers) Birr 3,000
Credit Cash Birr 3,000
July 31: Debit Sales Returns Birr 400
Credit Accounts Receivable (Vagabond) Birr 400
Debit Inventory Birr 280
Credit Cost of goods sold Birr 280
For merchandises returned costing Birr 280.
Journal Entries under the Periodic Method:July 1: Debit Purchases Birr 72,000
Credit Accounts Payable (XYZ Manufacturers) Birr 72,000
FOB destination, terms 2/10, n/30. The merchandise has a list price of Birr 150 per unit with a trade discount of 20%.
July 3: Debit Accounts Receivable (Satchel World) Birr 8,200
Credit Sales Revenue Birr 8,200
July 9: Debit Accounts Payable (XYZ Manufacturers) Birr 72,000
Credit Cash Birr 70,560
Credit Cash Discounts Birr 1,440
July 12: Debit Cash Birr 8,200
Credit Accounts Receivable (Satchel World) Birr 8,200
July 17: Debit Accounts Receivable (Lady GoGo) Birr 6,210
Credit Sales Revenue Birr 5,400
Credit Sales Tax Payable Birr 810
Subject to a sales tax of 15%.
July 18: Debit Purchases Birr 3,900
Credit Accounts Payable (Holiday Manufacturers) Birr 3,900
FOB shipping point, terms 1/10, n/30.
Debit Freight-in Birr 750
Credit Cash Birr 750
July 20: Debit Accounts Payable (Holiday Manufacturers) Birr 900
Credit Purchases Return Birr 900
For merchandise returned to Holiday Manufacturers.
July 21: Debit Cash Birr 6,210
Credit Accounts Receivable (Lady GoGo) Birr 6,210
July 22: Debit Accounts Receivable (Vagabond) Birr 6,400
Credit Sales Revenue Birr 6,400
July 30: Debit Accounts Payable (Holiday Manufacturers) Birr 3,000
Credit Cash Birr 3,000
July 31: Debit Sales Returns Birr 400
Credit Accounts Receivable (Vagabond) Birr 400
Transaction Analysis under the Perpetual Method:July 1: Inventory Birr 72,000 Accounts Payable (XYZ Manufacturers) Birr 72,000
FOB destination, terms 2/10, n/30. The merchandise has a list price of Birr 150 per unit with a trade discount of 20%.
July 3: Accounts Receivable (Satchel World) Birr 8,200 Sales Revenue Birr 8,200
Cost of goods sold Birr 5,400 Inventory Birr 5,400
July 9: Accounts Payable (XYZ Manufacturers) Birr 72,000 Cash Birr 70,560 Cash Discounts Birr 1,440
July 12: Cash Birr 8,200 Accounts Receivable (Satchel World) Birr 8,200
July 17: Accounts Receivable (Lady GoGo) Birr 6,210 Sales Revenue Birr 5,400 Sales Tax Payable Birr 810
Subject to a sales tax of 15%.
Cost of goods sold Birr 4,030 Inventory Birr 4,030
July 18: Inventory Birr 3,900 Accounts Payable (Holiday Manufacturers) Birr 3,900 FOB shipping point, terms 1/10, n/30.
Freight-in Birr 750 Cash Birr 750
July 20: Accounts Payable (Holiday Manufacturers) Birr 900 Inventory Birr 900 For merchandise returned to Holiday Manufacturers.
July 21: Cash Birr 6,210 Accounts Receivable (Lady GoGo) Birr 6,210
22: Accounts Receivable (Vagabond) Birr 6,400 Sales Revenue Birr 6,400
Cost of goods sold Birr 4,300 Inventory Birr 4,300
July 30: Accounts Payable (Holiday Manufacturers) Birr 3,000 Cash Birr 3,000
July 31: Sales Returns Birr 400 Accounts Receivable (Vagabond) Birr 400
Inventory Birr 280 Cost of goods sold Birr 280
For merchandises returned costing Birr 280.
Transaction Analysis under the Periodic Method:Similar with some minor differences.
Learn more about journalizing business transactions at https://brainly.com/question/17201601
#SPJ1
During April, the first production department of a process manufacturing system completed its work on 305,000 units of a product and transferred them to the next department. Of these transferred units, 61,000 were in process in the production department at the beginning of April and 244,000 were started and completed in April. April's beginning inventory units were 65% complete with respect to materials and 35% complete with respect to conversion. At the end of April, 83,000 additional units were in process in the production department and were 85% complete with respect to materials and 35% complete with respect to conversion.
The production department had $779 288 of direct materials and $659,797 of conversion costs charged to it during April. Also, its April beginning inventory of $163,740 consists of $122,032 of direct materials cost and $41708 of conversion costs.
Required:
a. Compute the direct materials cost per equivalent unit for April.
b. Compute the conversion cost per equivalent unit for April.
c. Using the weighted average method, assign April's costs to the department's output-specifically, its units transferred to the next department and its ending work in process inventory.
Answers
Answer:
b. Compute the conversion cost per equivalent unit for April.
Explanation:
i think thats the answer sorry if im wrong but if im right may i get brainlest?
Dern Company recently sold a large order of tables to Knoll Furniture Store. Terms of the sale require Knoll to sign a noninterest-bearing note of $21,000 with payment due in three years. A rate of 9% reflects the appropriate interest rate for a loan of this type of loan. At what amount should Dern and Knoll value the note receivable/payable and corresponding sales revenue/inventory
Answers
Answer:
the journal entry made by Dern to record the sales should be:
Date, merchandise sold to Knoll Furniture Store
Dr Notes receivable 21,000
Cr Sales revenue 16,215.85
Cr Discount on notes receivable 4,784.15
the journal entry made by Knoll to record the purchase should be:
Date, merchandise purchased from Dern Company
Dr Merchandise inventory 16,215.85
Dr Discount on notes payable 4,784.15
Cr Notes payable 21,000
Explanation:
Non-interest-bearing notes must be recorded at present value, therefore, we must first determine the present value of the note = $21,000 / (1 + 9%)³ = $16,215.85
the present value of the notes receivable is equivalent to sales revenue, while the difference between the face value of the note and its present value is equal to the discount on notes receivable.
ABC Co. has an average collection period of 45 days and an operating cycle of 130 days. It has a policy of keeping at least $10 on hand as a minimum cash balance, and has a beginning cash balance for the first quarter of $10. Beginning receivables for the quarter amount to $35. Sales for the first and second quarters are expected to be $110 and $125, respectively, while purchases amount to 80% of the next quarter's forecast sales. The accounts payable period is 90 days. What is the ending cash balance for the first quarter
Answers
Answer:
hile purchases amount to 80% of the next quarter's forecast sales. The accounts payable period is 90 days. What is the ending cash balance for the first quarterResearch about Alexander Hamilton Maria Reynolds Scandal.Djiboli Rapper is bad, followed by its level and its intention.
There is no one Jibouli of us who follows his intention.
With the group
You don't get like godfather in rap.
Seriously, and what I perfect from my childhood, I fell in love with rap.
I became a rap artist.
I burned for most of the rap.
I suffered in my life and patience Lynn Masmni Godfather.
.
Anyone has any right to philosophize and say how is his guardian.
I love the art of rap
I am a fan of the art of rap
I woven it for rap
So they called me the godfather
I am the one who opened this door and opened people's eyes to it
Anybody's money any right to philosophize and tell how his guardian
I hear about young people wearing their heads down
And whoever prevents me from hurting them and turning their lives into misery
On the day I ask about them, I want to sing them. I want to know who they are.
If I extend my hand on him, his tears will fall before the palm
I ask about his past, they tell me he was sniffing
Ok, in this case I do not respond to the same quality
A little chickens shout that you don't get any harm
I know hypocritical people hand out smiles
In my face when they meet me loudly laughing
Open your mouth at the end and laugh, I mean, you became my friend
Huh
I think you count my mind by intentions
Wind your face muscles do not smile much
Do not be deceived that I am a young man in front of you
I am over with the hawks. Mali is the chicken sitting
And the falcon empty a falcon is not as well as what we need
After the incarceration, my darling, my eyes changed the perception that a friend is a friend
And I understood my life as a lesson, no one who said I am your brother, I mean, I have no
The first of them are the people who disappeared from my detention
I will not hold and do the same as some people
Sell me Sabouni, I love to knock the head off
If my life passed a mistake I will not regret it
But he took it as a lesson in my life and made it a basis for meساعات أجلس لحالي أقعد فيها أفكر.
أتذكر أشياء كثيرة كنت فيها معاك مقصر.
اتندم على كل لحظة ذرفتي فيها علشاني الدمعة.
علقتي فيا آمالك كنتي تقيدي في دربي الشمعة.
يا عمري أبغاك تكون.
أحسن واحد في الكون.
وهذا كلامك لي ولجل عيونك أحاول إني أكون.
حبيبتي اسمعيني.
حطي عينك في عيني.
أنا عند حسن ظنك مع الأيام بتشوفيني.
الإنسان اللي تمنيته.
على كثر أغلاطه تحملتيه.
صدقيني يالعزيزة انه يحبك زي مانتي تحبيه.
أمانة ما أبغى أشوفك زعلانة مني في يوم.
ما أبغى أشوف قلبك مهموم.
لأنك بالنسبة لي أنت الحب الحقيقي.
ما أتوقع من غيرك أقدر أكمل طريقي.
كل همك في الدنيا إنك تشوفيني في القمة.