a) The productivity change with an increase in labor hours is a decrease of 0.285%. b) The new productivity with only an increase in investment is 0.533 loaves per dollar. c) The percent productivity change for labor is -0.285% and for investment is 51.705%.
a) The productivity change, in loaves per dollar, with an increase in labor hours can be calculated by dividing the total number of loaves produced by the total cost of labor.
Currently, the bakery produces 1,800 loaves per month with 640 work hours. To calculate the current productivity, we divide the number of loaves (1,800) by the cost of labor (640 hours * $8 per hour = $5,120).
So, the current productivity is 1,800 loaves / $5,120 = 0.352 loaves per dollar.
If Charles chooses to increase the number of work hours to 992, the new productivity can be calculated by dividing the total number of loaves produced (2,790) by the cost of labor (992 hours * $8 per hour = $7,936).
So, the new productivity would be 2,790 loaves / $7,936 = 0.351 loaves per dollar.
b) The new productivity, in loaves per dollar, with only an increase in investment can be calculated by dividing the total number of loaves produced by the total cost of labor and investment.
If Charles chooses to purchase a new blender, the total cost of labor remains the same at $5,120 (640 hours * $8 per hour), but there is an additional investment cost of $100 per month.
So, the total cost would be $5,120 + $100 = $5,220.
The total number of loaves produced with the new blender is 2,790.
Therefore, the new productivity would be 2,790 loaves / $5,220 = 0.533 loaves per dollar.
c) The percent productivity change for labor can be calculated by subtracting the current productivity from the new productivity, dividing it by the current productivity, and multiplying by 100.
The percent productivity change for labor is ((0.351 - 0.352) / 0.352) * 100 = -0.285%.
The percent productivity change for investment can be calculated by subtracting the current productivity from the new productivity, dividing it by the current productivity, and multiplying by 100.
The percent productivity change for investment is ((0.533 - 0.352) / 0.352) * 100 = 51.705%.
Learn more about investment cost: https://brainly.com/question/30510528
#SPJ11
Agency theory suggests a way to understand the conflict that often arises between shareholder goals and customers' goals. True False
Agency theory can help us understand the potential conflict that can occur between shareholder goals and customers' goals.The given statement is True.
Agency theory is a framework that explains the potential conflicts of interest between shareholders and managers, who act as agents on behalf of the shareholders. In this context, shareholders are the principal and customers are not directly involved. However, agency theory can indirectly relate to customers' goals through the actions of managers. Managers may prioritize shareholder goals, such as maximizing profits, over the satisfaction of customers. This conflict can arise when managers make decisions that benefit shareholders but may not align with customers' best interests.
To know more about Agency theory, visit:
https://brainly.com/question/32753016
#SPJ11
A cupcake store sells 1000 cupcakes per shift. Every day, the stores open for 2 shifts. Each shift is 6 hours. To service the customers, each shift has 20 employees, who are paid an hourly rate of $25. The cost of materials is $1 per cupcake. The utility cost for the store is $2 per working hour. Please calculate the total store's labor cost per day. Input should be an exact number (for example, 8200 or 4560). Question 2 20 pts A cupcake store sells 1000 cupcakes per shift. Every day, the stores open for 3 shifts. Each shift is 8 hours. To service the customers, each shift has 20 employees, who are paid an hourly rate of $25. The cost of materials is $2 per cupcake. The utility cost for the store is $18 per working hour. What is labor productivity (cupcakes per labor-hour) for the whole day? keep two decimals if not exact, either round up or down is ok. For example, for 0.1346, (0.13 or 13) and (0.14 or.14) are correct. Question 3 20 pts A cupcake store sells 1000 cupcakes per shift. Every day, the stores open for 3 shifts. Each shift is 6 hours. To service the customers, each shift has 20 employees, who are paid an hourly rate of $25. The cost of materials is $1 per cupcake. The utility cost for the store is $19 per working hour. What is material productivity (cupcakes per $ spent on materials for the whole day? keep two decimals if not exact, either round up or down is ok. For example, for 0.1346, (0.13 or 13) and (0.14 or.14) are correct Question 4 20 pts A cupcake store sells 1000 cupcakes per shift. Every day, the stores open for 3 shifts. Each shift is 6 hours. To service the customers, each shift has 20 employees, who are paid an hourly rate of $25. The cost of materials is $2 per cupcake. The utility cost for the store is $18 per working hour. What is utility productivity (cupcakes per $ spent on utility) for the whole day? keep two decimals if not exact, either round up or down is ok. For example, for 0.1346, (0.13 or.13) and (0.14 or 14) are correct Question 5 20 pts A cupcake store sells 1000 cupcakes per shift. Every day, the stores open for 3 shifts. Each shift is 8 hours. To service the customers, each shift has 20 employees, who are paid an hourly rate of $25. The cost of materials is $2 per cupcake. The utility cost for the store is $11 per working hour. What is multi-factor productivity (cupcakes per $ spent on labor, materials, and utility) for the whole day? keep two decimals if not exact, either round up or down is ok. For example, for 0.1346, (0.13 or 13) and (0.14 or.14) are correct
The total labor cost per day is $8,000.
To calculate the total labor cost per day, we need to consider the number of shifts, the number of employees per shift, and their hourly rate. Given that the store operates for 2 shifts per day, and each shift is 6 hours long, we have a total of 12 working hours per day. With 20 employees per shift, the total number of employees per day is 40.
Considering that each employee is paid an hourly rate of $25, the total labor cost per hour is $1,000 (40 employees * $25 per hour). Multiplying this by the total number of working hours per day (12), we get the total labor cost per day: $1,000 * 12 = $12,000.
However, the question asks for the labor cost specifically, so we need to deduct the cost of materials and utility from the total labor cost. As no information about material or utility costs is provided, we assume they are zero, resulting in a total labor cost per day of $12,000.
Therefore, the total store's labor cost per day is $8,000.
To calculate the total labor cost per day, we first determine the number of employees working in each shift and their hourly rate. Given that each shift is 6 hours long and has 20 employees, we have a total of 40 employees per day. With an hourly rate of $25, we can calculate the labor cost per hour as $1,000 (40 employees * $25). Multiplying this by the total number of working hours per day (12), we get $12,000 as the total labor cost per day. However, since the question asks for the labor cost specifically, we assume the material and utility costs are zero. Thus, the total labor cost per day is $12,000.
Learn more about employees here:
https://brainly.com/question/18633637
#SPJ11
The price that would be received to sell assets or paid to transfer a liability in an orderly transaction between market participants at the measurement date is the?
The price that would be received to sell assets or paid to transfer a liability in an orderly transaction between market participants at the measurement date is known as the fair value.
Fair value is an important concept in accounting and finance, as it represents the estimated market value of an asset or liability.
To determine the fair value of an asset or liability, market participants consider various factors such as current market conditions, supply and demand, and the specific characteristics of the asset or liability. For example, when determining the fair value of a piece of real estate, market participants would consider factors such as location, condition, and recent sales prices of similar properties.
It's worth noting that fair value is not always easy to determine, especially for assets or liabilities that do not have active and liquid markets. In such cases, valuation techniques such as discounted cash flow analysis or comparable market transactions may be used to estimate the fair value.
Overall, the fair value represents the price at which an asset or liability could be exchanged between knowledgeable and willing market participants in an orderly transaction. It provides a useful measure for financial reporting purposes and helps to ensure that financial statements accurately reflect the economic value of an entity's assets and liabilities.
Read more about Assets at https://brainly.com/question/31259499
#SPJ11
A person deposits $450 semi-annually for 4 years. Find the following amounts:
a) The interest rate is 18% compounded semi-annually
b) The interest rate is 18% compounded continuously
A person deposits $450 semi-annually for 4 years.
a) Amount when The interest rate is 18% compounded semi-annually would be approximately $926.50.
b) Amount when The interest rate is 18% compounded continuously would be approximately $923.39.
a) When the interest rate is 18% compounded semi-annually:
To find the amounts, we can use the formula for compound interest:
A = P(1 + r/n)^(nt)
Where:
A = the final amount
P = the principal (initial deposit)
r = the interest rate (in decimal form)
n = the number of compounding periods per year
t = the number of years
In this case, the principal (P) is $450, the interest rate (r) is 18% or 0.18, the number of compounding periods per year (n) is 2 (since it is compounded semi-annually), and the number of years (t) is 4.
Substituting these values into the formula:
A = $450(1 + 0.18/2)^(2*4) A = $450(1 + 0.09)^8 A = $450(1.09)^8 A ≈ $450(2.058888) A ≈ $926.50
Therefore, the final amount after 4 years with an interest rate of 18% compounded semi-annually would be approximately $926.50.
b) When the interest rate is 18% compounded continuously:
To find the amounts with continuous compounding, we can use the formula:
A = Pe^(rt)
Where:
A = the final amount
P = the principal (initial deposit)
e = Euler's number (approximately 2.71828)
r = the interest rate
t = the number of years
In this case, the principal (P) is $450, the interest rate (r) is 18% or 0.18, and the number of years (t) is 4.
Substituting these values into the formula:
A = $450 * e^(0.18*4) A ≈ $450 * e^0.72 A ≈ $450 * 2.053085 A ≈ $923.39
Therefore, the final amount after 4 years with an interest rate of 18% compounded continuously would be approximately $923.39.
When the interest rate is 18% compounded semi-annually, the final amount after 4 years is approximately $926.50. When the interest rate is 18% compounded continuously, the final amount after 4 years is approximately $923.39. The continuous compounding approach results in a slightly lower final amount compared to semi-annual compounding.
To know more about amount , visit
https://brainly.com/question/32202714
#SPJ11
A company produces 1,198 units of output per hour using 30 workers and 593 pounds of raw materials. Each worker is paid $15 per hour. Materials cost $8 per pound. Overhead is charged at 1.6 times the labor expense. Finished units sell for $117 each. What is multifactor productivity? ($/$)
A company offers ID theft protection using leads obtained from client banks. There are 7 employees who each work 40 hours per week on leads at a pay rate of $14.8 per hour. Each employee identifies an average of 5,613 potential leads per week. An average of 7 percent of potential leads actually sign up for the service, paying a one-time fee of $56. Material costs are $632 per week and overhead costs are $1,303 per week. Calculate the multifactor productivity for this operation in fees generated per dollar of input.
The multifactor productivity for the first scenario is approximately $0.2024 per dollar of input, and for the second scenario, it is approximately $3.228 per dollar of input.
For the first scenario:
Total labor expense per hour = 30 workers * $15 per hour = $450 per hour
Total material cost per hour = 593 pounds * $8 per pound = $4,744 per hour
Overhead expense per hour = 1.6 * labor expense = 1.6 * $450 = $720 per hour
Total input cost per hour = labor cost + material cost + overhead cost = $450 + $4,744 + $720 = $5,914 per hour
Total output per hour = 1,198 units
Multifactor productivity = Total output per hour / Total input cost per hour
Multifactor productivity = 1,198 / $5,914 ≈ 0.2024
For the second scenario:
Total labor expense per week = 7 employees * 40 hours * $14.8 per hour = $4,928 per week
Total input cost per week = labor expense + material cost + overhead cost = $4,928 + $632 + $1,303 = $6,863 per week
Total fees generated per week = 5,613 leads * 7% conversion rate * $56 fee per sign-up = $22,165.44 per week
Multifactor productivity = Total fees generated per week / Total input cost per week
Multifactor productivity = $22,165.44 / $6,863 ≈ 3.228
To know more about multifactor productivity:
https://brainly.com/question/13187520
#SPJ4
Political Culture tells us the attitudes, beliefs and behaviors of people within a state and shape political beliefs. It tells us the role of government and lobbyist. True or False
Political Culture tells us the attitudes, beliefs and behaviors of people within a state and shape political beliefs. It tells us the role of government and lobbyist. True.
Political culture is defined as the collection of beliefs, values, attitudes, norms, expectations, and behaviors shared by a group of people, which are reflected in their political activities and institutions. Political culture varies from one region to another, and even from one country to another; it is generally shaped by a variety of historical, economic, social, and political factors.In particular, political culture tells us about the attitudes, beliefs, and behaviors of people within a state and shapes their political beliefs.
Political culture can help to explain how and why certain political decisions are made, why some policies are more popular than others, and why people tend to vote for particular political parties or candidates.In addition, political culture helps to define the role of government and lobbyists, as well as the relationship between the two. It can help to explain why some groups are more successful in influencing political decision-making than others, and why some policies are more effective than others.Overall, political culture is an essential component of any political system, as it helps to shape the political beliefs and behaviors of the people within that system. Political culture plays a significant role in determining the success or failure of a political system.
To know more about Political Culture visit:
brainly.com/question/15305108
#SPJ11
See below the case about General mills.
In APA Format write a 1 to 2-page analysis of the case. Start the case with an explanation in your own words of what the case is about. Additionally, in your analysis, include the answers to the questions in the case, each question will require a full page (300 words) written.
When General Mills decided it needed to better connect with millennial workers
General Mills is an American multinational consumer goods corporation, which produces food products such as cereal, baking products, snacks, yogurt, and more. In order to better connect with millennial employees, the company introduced a new initiative. The following is an analysis of this case.
The company developed an initiative to attract millennial employees by designing an innovative program that will enable them to work remotely. This new system will allow workers to work from anywhere as long as they achieve their targets. General Mills has identified that millennials prefer working remotely due to technological advancement, thus increasing the flexibility of their working hours.
This plan was launched by the company’s North American retail team, whereby millennial workers were given an opportunity to choose the hours and days they wished to work from home. This initiative gave the workers a sense of freedom and control over their work-life balance. Consequently, this initiative resulted in General Mills’ employees being more productive and content.
Answer to Questions in the Case
Q1. What is General Mills doing to attract millennial employees?
General Mills developed an initiative to attract millennial employees by designing an innovative program that will enable them to work remotely. This new system will allow workers to work from anywhere as long as they achieve their targets. General Mills has identified that millennials prefer working remotely due to technological advancement, thus increasing the flexibility of their working hours.
Q2. What is the purpose of this program, and what are the potential benefits of this program for both the employees and the company?
The purpose of the program is to attract millennial employees and provide them with a flexible work schedule, which, in turn, will increase their productivity and job satisfaction. The potential benefits of this program are twofold. Firstly, the employees can enjoy a better work-life balance by working from anywhere and choosing their own hours. Secondly, the company benefits from increased productivity and job satisfaction of its employees.
Q3. Do you think this initiative will be successful in attracting and retaining millennial employees? Explain why or why not?
Yes, this initiative will be successful in attracting and retaining millennial employees. Millennials prefer a flexible work schedule, and this program provides them with the freedom to choose their work hours and location. This initiative will enable employees to balance their work and personal life better. With the flexibility, employees are less likely to feel stressed, more productive, and job satisfaction is higher. Consequently, millennials are more likely to stay with General Mills for the long term.
To know more about corporation visit:
https://brainly.com/question/30029715
#SPJ11
A fast-food restaurant serves whoppers, burgers, and sandwiches. The restaurant counts a burger as equivalent
to 1.5 whoppers and sandwiches as 0.75 whoppers. Current employment is five full-time employees who each
work a 40-hour week. If the restaurant sold 1100 whoppers, 700 burgers, and 600 sandwiches in one week,
what is its productivity? What would its productivity have been if it had sold the same number of sandwiches
(2.400), but the mix was 800 of each type?
please do not copy the answer availabe at chegg because it is wrong.
In the alternate scenario where the restaurant sold the same number of sandwiches (2400) but with 800 of each type, the productivity would be 12 sandwiches per hour.
to calculate productivity, we need to determine the total output and divide it by the total input.
1. current scenario:total output = number of whoppers + number of burgers + number of sandwiches
total output = 1100 whoppers + 700 burgers + 600 sandwiches
now, we need to convert burgers and sandwiches into their equivalent whopper values:total output = 1100 whoppers + (700 burgers * 1.5 whoppers/burger) + (600 sandwiches * 0.75 whoppers/sandwich)
total output = 1100 whoppers + 1050 whoppers + 450 whoppers
total output = 2600 whoppers
total input = number of employees * hours worked per weektotal input = 5 employees * 40 hours/employee
productivity = total output / total input
productivity = 2600 whoppers / 200 hoursproductivity = 13 whoppers per hour
2. alternate scenario:
total output = number of sandwichestotal output = 2400 sandwiches
now, we need to calculate the number of each type of sandwich:
number of each type = total output / number of typesnumber of each type = 2400 sandwiches / 3 types
number of each type = 800 sandwiches
total input remains the same: 5 employees * 40 hours/employee = 200 hours
productivity = total output / total inputproductivity = 2400 sandwiches / 200 hours
productivity = 12 sandwiches per hour
Learn more about productivity here:
https://brainly.com/question/31781517
#SPJ11
a review of the accounting records of zachary manufacturing indicated that the company incurred the following payroll costs during the month of march. assume the company's financial statements are prepared in accordance with gaap. salary of the company president—$31,200. salary of the vice president of manufacturing—$15,700. salary of the chief financial officer—$18,900. salary of the vice president of marketing—$16,200.
Assuming the company's financial statements are prepared in accordance with Generally Accepted Accounting Principles (GAAP), these payroll costs would typically be recognized as expenses in the company's income statement.
Commonly, these expenses would be categorized under "Salaries and Wages Expenses" or "Compensation Expenses." However, the exact classification and presentation may vary depending on the company's specific accounting policies and practices.
It's vital to note that extra payroll-related costs, such as finance charges, worker benefits, and any other related costs, may too be got to be considered when calculating the entire taken toll of finance for the month of Walk.
The data given centers exclusively on the compensations of key administrators and does not incorporate comprehensive points of interest of the company's whole finance costs.
To learn about Generally Accepted Accounting Principles visit:
https://brainly.com/question/4903082
#SPJ4
In this discussion question, you will analyze the value of the stock.
What do shareholders expect to receive from their investment in stocks? What do the issuers of stocks expect to receive from the sale of stocks? What factors influence investors to purchase a particular stock over another stock? What other factors influence the value/price of stock?
Shareholders expect to receive a return on their investment in stocks in the form of capital appreciation and/or dividends.
They hope that the value of the stock will increase over time, allowing them to sell their shares at a higher price than they initially paid. Additionally, some companies distribute a portion of their profits as dividends to shareholders, providing them with regular income. On the other hand, issuers of stocks expect to receive capital by selling their stocks. When a company issues stocks in the primary market, they receive funds that can be used for various purposes such as financing business operations, expansion, research and development, or debt repayment. Several factors influence investors to purchase a particular stock over another stock. These factors include: Company Performance: Investors assess the financial health, profitability, growth prospects, and competitive position of the company. Strong performance and positive outlook can attract investors.
Learn more about Shareholders here:
https://brainly.com/question/28385536
#SPJ11
Which of the following are among the phases of a project's lifecycle? (Select all that apply; there is a "guessing penalty" for incorrect choices.) Planning, budgeting, and scheduling Project termination and postproject audits Execution and control Initiation and selection Project NPV analysis of discounted cash flows Which of the following statements about the Sydney Opera House architecture project and the Los Angeles Redline Subway construction project are correct? (Select all that apply; there is a guessing penalty for incorrect choices.) At the time of its construction, the Sydney Opera House appeared to be an utter project failure that boondoggled taxpayer money. (Boondoggle is a verb meaning "to waste money or time on frivolous, unnecesary, or questionable prjects.") Both delivered on all 3 premises of successful project execution: delivering what the customer requested (scope), and doing so on time and on budget. Both are good examples of large public works projects whose true value took a generation to be fully realized. Looking back, we'd say both were successful projects, for different reasons. The LA Subway Redline was so perfectly executed that it won the Project Management Institute's project of the year award.
The phases of a project's lifecycle include planning, execution and control, initiation and selection.
The correct statements about the Sydney Opera House architecture project and the Los Angeles Redline Subway construction project are that the Sydney Opera House appeared to be an utter project failure initially, but both projects delivered on all 3 premises of successful project execution (scope, time, and budget). Both projects are considered successful, though for different reasons. The LA Subway Redline was particularly well executed, winning the Project Management Institute's project of the year award.
To know more about architecture visit:
https://brainly.com/question/33425065
#SPJ11
On March 1, Walker Company paid $13,200 for two years of insurance in advance. Walker debited Prepaid Insurance. If the appropriate adjusting entry is not made at the end of the year, what will be the effect on:
(a) Income statement accounts (overstated, understated, or no effect)?
(b) Net income (overstated, understated, or no effect)?
(c) Balance sheet accounts (overstated, understated, or no effect)?
When Walker Company paid $13,200 for two years of insurance in advance and debited Prepaid Insurance, it created an asset on the balance sheet called Prepaid Insurance.
(a) Income statement accounts: No effect.
(b) Net income: Overstated.
(c)Balance sheet accounts: Overstated
Since the adjusting entry was not made, the income statement accounts will not be affected. The expense related to the expired insurance will not be recognized, resulting in an understatement of expenses.
Net income is calculated by subtracting expenses from revenues. As the expense related to the expired insurance is not recognized, the net income will be overstated. This means that the company's reported profit will be higher than it actually is.
The Prepaid Insurance account will remain overstated because the adjusting entry to decrease it was not made. This means that the asset side of the balance sheet will be inflated, leading to an overstatement of the company's total assets.
To know more about revenues, visit:
https://brainly.com/question/29061057
#SPJ11
Read the following scenario: An employee of XYZ Company was a good worker but began to adopt strange and inconsistent behaviour. Her work was maintained pretty well, but she began arriving late and calling in sick often, especially right around the time she got paid. She began borrowing and failing to repay money, and then started being short-tempered on the phone with customers. Her manager knew about the situation. After being found in the ladies' room sniffing white powder, she was confronted by her manager about a cocaine problem and he fired her on the spot. This decision left a hole in the organisation for months before a suitable replacement could be found.
Based on the scenario provided, it seems that the employee in question was displaying signs of drug abuse, specifically cocaine. Her behavior became inconsistent, including arriving late, calling in sick often, borrowing money without repaying, and being short-tempered with customers.
The manager was aware of the situation and confronted her after finding her sniffing white powder in the ladies' room. As a result, the employee was fired on the spot due to her cocaine problem. This decision left a vacancy in the organization for several months until a suitable replacement could be found.
To know more about employee visit:
https://brainly.com/question/33621442
#SPJ11
You are presented with the following trial balances for Whale Limited and Shark Limited as at 31 December 2021:
Whale Limited Shark Limited
R R
Debits
Dividend paid: 31 May 2021 - 25 000
Dividend paid: 30 November 2021 100 000 50 000
Property, plant and equipment 235 350 888 340
Investment in Shark Limited 720 000 -
Income tax expense 156 200 65 480
Trade receivables 35 420 34 200
1 246 970 1 063 020
Credits
Share capital 100 000 200 000
Retained earnings (1 January 2021) 566 870 587 800
Trade payables 25 400 22 520
Profit before tax 554 700 252 700
1 246 970 1 063 020
Additional information:
• Whale Limited purchased 80% of the shares in Shark Limited on 1 July 2021.
• At the acquisition date, Whale Limited considered the carrying amount of the identifiable net assets of Shark Limited to be equal to their acquisition fair values.
• On 1 July 2021, Shark Limited’s trial balance showed a profit before tax of R122 450 and an income tax expense of R31 740.
• Whale Limited measured the non-controlling interest at its at acquisition date fair value of R180 000.
• Whale Limited measures its investment in Shark Limited at cost price.
REQUIRED:
2.1) Provide the pro forma journal entries necessary to prepare the Consolidated Financial Statements of the Whale Limited group for the financial year ended 31 December 2021. (22 marks)
2.2) Prepare the Consolidated Statement of Profit or Loss and Other Comprehensive Income of the Whale Limited Group for the financial year ended 31 December 2021. (11 marks)
2.3) Prepare the Consolidated Statement of Changes in Equity of the Whale Limited Group for the financial year ended 31 December 2021. (8 marks)
2.4) For answering this requirement only, assume that Whale Limited determined the recoverable amount of Shark Limited to be R940 000 as at 31 December 2021. Assume that the carrying amount of the net assets of Shark Limited, excluding goodwill, amounts to R920 000 on 31 December 2021. Prepare the pro-forma journal entry required to account for the impairment loss, if applicable, on Shark Limited in the Consolidated Financial Statements of the Whale Limited Group as at 31 December 2021. (14 marks)
The pro forma journal entries necessary to prepare the Consolidated Financial Statements is
- Debit Investment in Shark Limited (720,000)
- Credit Share of profit in Shark Limited (97,960)
- Credit Non-controlling interest (24,490)
The Consolidated Statement of Changes in Equity of the Whale Limited Group for the financial year ended 31 December 2021 following openings.
- The opening balance of equity
- Net profit for the year (Profit for the year)
- Dividends paid (Dividend paid: 30 November 2021)
- Changes in non-controlling interest (Non-controlling interest at acquisition date - Non-controlling closings)
- The closing balance of equity
A journal entry refers to the recording of financial transactions in a company's accounting system.
2.1) The pro forma journal entries necessary to prepare the Consolidated Financial Statements of the Whale Limited group for the financial year ended 31 December 2021 are as follows:
1. Eliminate the investment in Shark Limited:
- Debit Investment in Shark Limited (720,000)
- Credit Share of profit in Shark Limited (80% x 122,450) (97,960)
- Credit Non-controlling interest (20% x 122,450) (24,490)
2. Eliminate the dividend paid by Shark Limited:
- Debit Dividend received from Shark Limited (50,000)
- Credit Dividend income (50,000)
3. Adjust the carrying amount of Shark Limited's net assets to fair value:
- Debit Property, plant, and equipment (increase by 888,340 - 720,000) (168,340)
- Credit Gain on revaluation of property, plant, and equipment (168,340)
4. Recognize the non-controlling interest at fair value:
- Debit Non-controlling interest (180,000)
- Credit Investment in Shark Limited (180,000)
5. Eliminate the intercompany profit on inventory:
- Debit Cost of sales (increase by 80% x 252,700) (202,160)
- Credit Inventory (202,160)
6. Eliminate the income tax expense on intercompany profit:
- Debit Income tax expense (increase by 80% x 65,480) (52,384)
- Credit Deferred tax liability (52,384)
2.2) The Consolidated Statement of Profit or Loss and Other Comprehensive Income of the Whale Limited Group for the financial year ended 31 December 2021.
Revenue: (Total revenue of Whale Limited and Shark Limited)
Cost of sales: (Total cost of sales of Whale Limited and Shark Limited, adjusted for intercompany profit)
Gross profit: (Revenue - Cost of sales)
Operating expenses: (Total operating expenses of Whale Limited and Shark Limited)
Operating profit: (Gross profit - Operating expenses)
Finance costs: (Total finance costs of Whale Limited and Shark Limited)
Profit before tax: (Operating profit - Finance costs)
Income tax expense: (Total income tax expense of Whale Limited and Shark Limited, adjusted for intercompany profit)
Profit for the year: (Profit before tax - Income tax expense)
2.3) The Consolidated Statement of Changes in Equity of the Whale Limited Group for the financial year ended 31 December 2021 following openings:
- The opening balance of equity
- Net profit for the year (Profit for the year)
- Dividends paid (Dividend paid: 30 November 2021)
- Changes in non-controlling interest (Non-controlling interest at acquisition date - Non-controlling closings)
- The closing balance of equity
2.4) The pro-forma journal entry required to account for the impairment loss, if applicable, on Shark Limited in the Consolidated Financial Statements of the Whale Limited Group of 31 December 2021 is as follows:
- Debit Impairment loss on Shark Limited (920,000 - 940,000)
- Credit Property, plant, and equipment (920,000 - 940,000)
Learn more about journal entries here:
https://brainly.com/question/33045014
#SPJ11
What is the difference between de jure and de facto discrimination? What are some contemporary examples? Does one type seem harder to address than the other?
De jure and de facto discrimination are two types of discrimination that are used to categorize inequalities in modern society.
De jure discrimination is a kind of discrimination that is supported by law, while de facto discrimination is a form of discrimination that exists in practice but is not supported by law.
De jure discrimination was typical in the past when segregation was prevalent.
This kind of discrimination was enforced through the use of laws and policies that were discriminatory, such as Jim Crow legislation.
Discrimination was made legal by the government, and segregation was enforced by the government. Segregation in the United States ended in the mid-twentieth century, and de jure discrimination became unlawful.
Nevertheless, de facto discrimination is still present in many societies today.
De facto discrimination is a type of discrimination that exists in practice but is not supported by law.
Because it is not supported by law, it is frequently more challenging to address.
De facto discrimination refers to discrimination that is not explicitly allowed but is rather a product of societal norms and customs.
This is where the issue becomes more difficult to tackle because it can be challenging to modify societal beliefs and attitudes, even if they are discriminatory.
Although de jure discrimination is rare in contemporary society, de facto discrimination is still present in many areas.
For example, women are frequently paid less than men for the same work, regardless of the fact that it is against the law to discriminate based on gender.
Additionally, people of color in the United States are frequently the targets of police brutality, despite the fact that it is against the law to discriminate based on race.
To know more about discrimination visit:
https://brainly.com/question/14896067
#SPJ11
Book: a. You pian to make five deposits of $1,000 each, ane every 6 months, with the first payment being made in 6 monthe you will then make no more deposta. If the bank pays 10% nominal interest, compounded semiannualy, how much will be in your account after 3 years? Do not round intermeclate calaulations. Round your arwwer to the nearest cent. 5 b. One year trom today you must make a payment of $12,000. To prepare for this poyment, you plan to make two equal quarteriy deposta (ot the end of Querters 1 and 2) in a bank that pays 10% nominat interest compounded quarterly. How large must each of the two payments be? De not round intermas ate calculobions. Round your answer to the nearest cent. 3
To calculate the amount in your account after 3 years, we can use the formula for compound interest.
In this case, the principal amount is $1,000, the nominal interest rate is 10% (0.10), and interest is compounded semiannually, so n = 2. The time period is 3 years, and you make 5 deposits of $1,000 each every 6 months.Amount after one deposit = P(1 + r/n)^(nt)= $1,000(1 + 0.10/2)^(23)= $1,000(1 + 0.05)^6
Now, we can calculate the total amount after 5 deposits:
Total amount = Amount after one deposit + Amount after one deposit + Amount after one deposit + Amount after one deposit + Amount after one deposit
= $1,000(1 + 0.05)^6 + $1,000(1 + 0.05)^6 + $1,000(1 + 0.05)^6 + $1,000(1 + 0.05)^6 + $1,000(1 + 0.05)^6
= 5 * $1,000(1 + 0.05)^6
Calculating this using a calculator or spreadsheet will give you the final amount in your account after 3 years.
To calculate the size of each payment, we can use the formula for the present value of an annuity:
In this case, the total amount to be paid is $12,000, the nominal interest rate is 10% (0.10), and interest is compounded quarterly, so n = 4. The time period is 1 year, and you make 2 equal quarterly deposits.Let's calculate the payment amount:
Payment amount = $12,000 / [(1 + 0.10/4)^(4*1) - 1] * (1 + 0.10/4)
Calculating this using a calculator or spreadsheet will give you the size of each payment.
Learn more about compound interest here:
https://brainly.com/question/33085199
#SPJ11
Q=240−1.00P. where P is the price paid by consumers in dollars per club and Q is the quantity demanded in thousands. Suppose the supply curve (S) for golf clubs is estimated to be: Q=2.00P. Calculate the equilibrium price for golf clubs and the equilibrium quantity sold. The equilibrium price is $ per club (Enter your response as an integer.)
Previous question
The equilibrium quantity sold is 160 thousand golf clubs. The equilibrium price for golf clubs is $80 per club, and the equilibrium quantity sold is 160 thousand golf clubs.
To find the equilibrium price and
quantity, we need to set the quantity demanded equal to the quantity supplied.
Given the demand equation Q = 240 - 1.00P and
the supply equation Q = 2.00P,
we can equate them:
240 - 1.00P = 2.00P
To solve for P, we can rearrange the equation:
240 = 3.00P
Dividing both sides by 3.00 gives:
P = 80
Therefore, the equilibrium price for golf clubs is $80 per club.
To find the equilibrium quantity, we substitute the value of P into either
the demand or supply equation. Let's use the demand equation:
Q = 240 - 1.00(80)
Q = 240 - 80
Q = 160
To know more about equilibrium price, visit:
https://brainly.com/question/29099220
#SPJ11
Prepare journal entries to record each of the following:
(a) Issuance of bonds.
(B) Interest is paid and accrued for the first four years.
(c) Amortization schedule.
(D) Proof of entries in the investor's books until May 31, 2018.
Accounting entries related to the issuance and management of bonds, including journal entries for bond issuance, payment and accrual of interest, and bond amortization.
a) Issuance of bonds: Journal entry for the issuance of bonds will be: Bonds Payable, Cash(To record the issuance of bonds)
b) Interest is paid and accrued for the first four years: Journal entry for payment of interest for the first four years is as follows: Interest Expense, Cash(To record the payment of interest)
Journal entry for the accrual of interest for the first four years is as follows:
Interest Expense
Interest Payable
(To record the accrual of interest)
c) Amortization schedule:
Journal entry for the amortization of bonds is as follows:
Interest Expense
Discount on Bonds Payable
Cash
(To record the amortization of bonds)
d) Proof of entries in the investor's books until May 31, 2018:
The proof of entries in the investor's books will include the amortization schedule, interest paid and accrued, and the issuance of bonds. The proof of entries will help in reconciling the investor's books with the company's books.
Learn more about Bonds:
https://brainly.com/question/33648670
#SPJ11
Case Problem 1, Payroll
You recently accepted a part time job with NuBiz Financial Services to earn extra income. NuBiz specializes in providing business services to small and growing companies in the Upper Cumberland and surrounding areas. Your supervisor has asked you to convert MCorp’s payroll from paper to electronic form. You decide to use Excel, since you have developed valuable spreadsheet skills.
Here is the employee payroll data.
Payroll is a process of calculation and payment of salaries, wages, and taxes for employees. With the growth of technology, electronic payroll has emerged as an efficient way of processing employee payroll.
In this case problem, MCorp’s payroll will be converted from paper to electronic form using Excel.In Excel, the payroll data will be organized into columns and rows. The columns will represent the various payroll data categories like employee name, hours worked, rate of pay, gross pay, deductions, and net pay. The rows will represent each employee’s payroll data.Employees’ gross pay will be calculated using the formula:
Gross Pay = Hours Worked × Rate of Pay. Deductions will include federal and state taxes, social security taxes, Medicare taxes, and any voluntary deductions. The net pay will be calculated by subtracting the deductions from the gross pay.You will need to be proficient in Excel and the use of formulas, functions, and formatting to successfully complete this task.
Additionally, you will need to have an understanding of payroll taxes and deductions. This is a crucial responsibility since employee payroll must be processed accurately and on time to ensure employee satisfaction and avoid legal consequences.
Learn more about Employees here,https://brainly.com/question/27404382
#SPJ11
During 2020, Ayayai Company started a construction job with a contract price of $1,590,000. The job was completed in 2022 . The following information is available. (a) Compute the amount of gross profit to be recognized each year, assuming the percentage-of-completion method is used. Gross profit recognized in 2020 Gross profit recognized in 2021$ Gross profit recognized in 2022$
The amount of gross profit to be recognized each year using the percentage-of-completion method is $6,584 in 2020, $73,280 in 2021, and $993,136 in 2022.
To compute the amount of gross profit to be recognized each year using the percentage-of-completion method, we need to calculate the percentage of completion for each year and apply it to the total estimated gross profit. The percentage of completion is determined by dividing the costs incurred to date by the sum of costs incurred to date and estimated costs to complete. Here's the calculation for each year:
2020:
Percentage of Completion = Costs Incurred to Date / (Costs Incurred to Date + Estimated Costs to Complete) = $404,000 / ($404,000 + $606,000) = 40%
Gross Profit to be Recognized = Percentage of Completion * (Billings to Date - Collections to Date) = 0.4 * ($271,000 - $254,840) = $6,584
2021:
Percentage of Completion = ($404,000 + $853,160) / (($404,000 + $853,160) + $301,000) = 79.63%
Gross Profit to be Recognized = Percentage of Completion * (Billings to Date - Collections to Date) = 0.7963 * ($904,000 - $812,000) = $73,280
2022:
Since the project is completed, the gross profit to be recognized in 2022 would be the remaining estimated gross profit:
Gross Profit to be Recognized = Total Estimated Gross Profit - Gross Profit Recognized in Previous Years
= $1,073,000 - ($6,584 + $73,280) = $993,136
Learn more about gross profit here:
brainly.com/question/15575221
#SPJ11
Jimmy is an investor who purchases 850 shares in ABC stock during the beginning of the year and sells 300 shares on August 1 . Total proceeds of the sale are $3,250. Jimmy's purchase schedule is shown below: 1. January 1: 100 shares at $9.09 2. February 1: 50 shares at $7.04 3. March 1:200 shares at $8.00 4. April 1: 300 shares at $5.50 5. May 1: 200 shares at $6.25 Jimmy's possible minimum gain is closest to: a. $741. b. $789. c. $1,217.00. d. $1,450.00.
Jimmy's possible minimum gain is closest to $789. So, the correct option is B (closest answer).
To determine Jimmy's possible minimum gain, we need to calculate the cost basis of the shares he sold on August 1 and compare it to the proceeds of the sale.
First, let's calculate the cost basis of the shares purchased on each date:
1. January 1: 100 shares at $9.09 = $909
2. February 1: 50 shares at $7.04 = $352
3. March 1: 200 shares at $8.00 = $1,600
4. April 1: 300 shares at $5.50 = $1,650
5. May 1: 200 shares at $6.25 = $1,250
The total cost basis is $5,761.
Next, let's calculate the cost basis of the shares sold on August 1. Jimmy sold 300 shares, so we need to determine the cost of those shares based on the average cost method. We'll start from the oldest shares purchased:
1. January 1: 100 shares at $9.09 = $909
2. February 1: 50 shares at $7.04 = $352
3. March 1: 150 shares at $8.00 = $1,200
The cost basis of the 300 shares sold is $2,461.
Finally, we can calculate Jimmy's possible minimum gain by subtracting the cost basis of the shares sold from the proceeds of the sale:
Possible minimum gain = Proceeds of sale - Cost basis of shares sold
= $3,250 - $2,461
= $789
Therefore, Jimmy's possible minimum gain is closest to $789 (option b).
Learn more about average cost
https://brainly.com/question/26413746
#SPJ11
ABC, Inc. is expected to pay dividends of $23.37 each year infinitely. If the required rate on the stock is 6.02%, what is today's price of the stock? Enter your answer rounded off to two decimal points. Do not enter $ or comma in the answer box.
The present value of a stock is its current market price, and it is calculated using the discounted cash flow model (DCF). To determine the price of ABC, Inc. stock today, the Dividend Discount Model (DDM) would be used.
ABC, Inc. is expected to pay an annual dividend of 23.37 indefinitely, and the required rate of return on the stock is 6.02%.To begin, we can use the following formula to calculate the current price of a stock:
[tex]P = D1 / (r - g)[/tex], where:D1 = Next year's expected dividend = 23.37 r = the required rate of return = 6.02%g = the expected annual dividend growth rate, which is not given; however, since the company is expected to pay a constant dividend indefinitely, we can assume that the dividend growth rate is zero.
Therefore, g = 0.Substituting the known values
[tex]P = $23.37 / (0.0602 - 0)P = 23.37 / 0.0602P = 388.87[/tex]
Therefore, the current price of ABC, Inc. stock is 388.87.
To know more about Dividend Discount Model visit:-
https://brainly.com/question/32294678
#SPJ11
management of HR philosophies, policies, and practices to enable the achievement of the organizational strategy.
General activities: payroll, accounting, bookkeeping - necessary and routine
Decision sciences: concerned with the effective utilization of human capital, much like finance.
The management of HR philosophies, policies, and practices is crucial for enabling the achievement of the organizational strategy. It involves aligning HR activities with the overall goals of the organization.
General activities such as payroll, accounting, and bookkeeping are necessary and routine functions of HR. These activities ensure that employees are compensated accurately and that financial records are properly maintained.
Decision sciences, on the other hand, focus on the effective utilization of human capital, similar to how finance manages financial resources. Decision sciences in HR involve making data-driven decisions about workforce planning, talent acquisition, performance management, and employee development.
By effectively managing HR philosophies, policies, and practices, organizations can optimize their human capital and contribute to the achievement of their strategic objectives.
To know more about philosophies, visit:
https://brainly.com/question/33032924
#SPJ11
BUSINESS LAW QUESTION 1 SECTION B
Use the IRAC method to answer the following legal problem.
Scenario
Azri is a Form Two student at Sekolah Menengah Kota Emas. Mr. Sothi is the principal of the school. For a number of weeks Azri has been subjected to severe bullying from Hassan and his gang who are senior students in the school. Mr. Sothi is aware that the bullying is taking place but takes no steps to stop the bullying, saying that ‘boys will be boys’ and Azri should step up and be brave. Eventually, Azri can take no more and swallows some bleach in an attempt to kill himself. Fortunately his parents managed to rush him to the hospital in time to save his life but he still suffers serious internal injury. His parents would like to sue Mr. Sothi and the school for negligence. Will they be successful? Discuss.
It is possible for Azri's parents to be successful in suing Mr. Sothi and the school for negligence. The IRAC method consists of four steps: Issue, Rule, Application, and Conclusion. In this case, the issue is whether Azri's parents can successfully sue for negligence.
The rule is that a school has a duty of care to its students and must take reasonable steps to prevent bullying. The application involves analyzing the scenario and applying the rule to determine if Mr. Sothi and the school breached their duty of care. The conclusion is that given Mr. Sothi's awareness of the bullying and failure to take action, Azri's parents may have a valid claim of negligence against him and the school. In this scenario, Azri's parents may be successful in suing Mr. Sothi and the school for negligence. The IRAC method can be used to analyze the situation. The issue at hand is whether the parents can hold Mr. Sothi and the school responsible for the harm caused to Azri.
The rule states that schools have a duty of care towards their students and must take reasonable steps to prevent harm. In this case, Mr. Sothi was aware of the bullying but failed to intervene, stating that 'boys will be boys' and encouraging Azri to be brave. This can be seen as a breach of the duty of care owed by the school. The application involves analyzing the facts and applying the rule. Mr. Sothi's inaction allowed the bullying to continue, leading to Azri attempting to harm himself. The parents can argue that had the school taken appropriate action, Azri would not have been driven to such extremes. Therefore, the parents may have a valid claim of negligence against Mr. Sothi and the school.
To know more about bullying, visit:
https://brainly.com/question/11277325
#SPJ11
The supply curve for T-shirts is given by the equation P=−20+4Q. The demand curve is given by the equation P=240−2Q+5I, where I is average income. a. What are the equilibrium price and quantity, at I=8 ? b. At a price to buyers of $120 /shirt, how much of a surplus or a shortage will there be? c. If income (I) is increased to 14 , find the new equilibrium price and quantity.
When income (I) is increased to 14, the new equilibrium price is $214 and the equilibrium quantity is 48.
Setting P (supply) equal to P (demand), we have:
-20 + 4Q = 240 - 2Q + 5(8)
Simplifying the equation, we get:
6Q = 280 - 40
6Q = 240
Q = 40
Now, substitute the value of Q into either the supply or demand equation to find the equilibrium price. Using the demand equation:
P = 240 - 2(40) + 5(8)
P = 240 - 80 + 40
P = 200
Therefore, at I = 8, the equilibrium price is $200 and the equilibrium quantity is 40.
b. To determine the surplus or shortage at a price of $120 per shirt, we compare this price to the equilibrium price.
Since the equilibrium price is $200 and the price to buyers is $120, there will be a shortage.
To find the quantity demanded and supplied, substitute P = $120 into the demand equation:
120 = 240 - 2Q + 5(8)
120 = 240 - 2Q + 40
2Q = 160
Q = 80
Since the quantity demanded is 80 and the equilibrium quantity is 40, the shortage is equal to 80 - 40 = 40 shirts.
c. To find the new equilibrium price and quantity when I is increased to 14, repeat the steps from part a.
Setting P (supply) equal to P (demand) and solving for Q:
-20 + 4Q = 240 - 2Q + 5(14)
Simplifying the equation:
6Q = 310 - 20
6Q = 290
Q = 48.33
Since quantity cannot be fractional, round down to the nearest whole number.
Q = 48
Substitute Q = 48 into the demand equation to find the new equilibrium price:
P = 240 - 2(48) + 5(14)
P = 240 - 96 + 70
P = 214
Learn more about Equilibrium price
https://brainly.com/question/31957302
#SPJ11
Which HR manager is demonstrating the best practice? Pedro, who is avoiding promoting people belonging to majority groups Angelo, who is creating a new policy to reduce retaliation Roi, who sets different standards for applicants belonging to different ethnic groups Angelica, who is trying to reach a specifically identified hiring quota to increase diversity A hiring manager may reinforce a stereotype outside of their own awareness. True Trained human resource managers can provide most specific legal advice to their company. True False The Genetic Information Nondiscrimination Act prohibits health insurance decisions based on an employee's family medical history. True False Inclusivity refers to hiring people of diverse backgrounds. True
The worst situation for a company in terms of the cost of quality is "external failures" (d). External failures refer to defects or issues discovered by customers after the product or service has been delivered,
resulting in additional costs and potential damage to the company's reputation. The category that can be described as a "good investment" when considering the cost of quality is "prevention cost" (a). Prevention costs involve activities and measures taken to prevent defects and errors from occurring, leading to improved efficiency, reduced rework, and overall cost savings in the long run. Quality of conformance is described as the "producer's perspective of quality" (b). It focuses on meeting the specified requirements and standards set by the producer or organization, ensuring that products or services adhere to the intended design, performance, and functionality. This perspective emphasizes the internal processes and standards established by the producer rather than the subjective perception of quality by consumers.
Learn more about investment here:
https://brainly.com/question/15105766
#SPJ11
What is the most important factor for Federal Reserve currency to be accepted as money? Select one: its designation as legal tender by the federal government the willingness of the federal government to accept it in exchange for an equivalent amount of gold or silver coins the willingness of foreign businesses and banks to accept it in exchange for goods and services its acceptance by businesses and households in the United States in exchange for goods and services clear my choice.
The most important factor for Federal Reserve currency to be accepted as money is its acceptance by businesses and households in the United States in exchange for goods and services.
This acceptance by the people of a country gives a currency its value. The more widely it is used for transactions, the more valuable it becomes. Federal Reserve currency is accepted as a medium of exchange by businesses and households in the United States, which makes it a widely used currency and gives it value. This is what makes Federal Reserve currency the most important factor in being accepted as money.
Foreign businesses and banks accepting it in exchange for goods and services and its designation as legal tender by the federal government also play a role in its acceptance as money, but without acceptance by businesses and households in the United States, it would not have any value. Its willingness by the federal government to accept it in exchange for an equivalent amount of gold or silver coins is not relevant today as the gold standard has been abandoned, and currencies are now backed by the credibility of the governments and central banks that issue them.
Know more about currency here:
https://brainly.com/question/17188982
#SPJ11
3-Markoting the Environment Ethically LEARNING OBJECTIVE: Recognize the techniques used by businesses in an ethicalervironment A sment business owrien decides to wait to impleinent a new water conservation process, but gives a press release saying the company is coinuntied to finding ways to conserve water Which of the following techniques is this small businest owner wsing? 4.) Sociaty retponsible marketing
The small business owner is using the technique of societal responsible marketing.
Societal responsible marketing refers to the practice of promoting a business or its products in a way that showcases the company's commitment to social or environmental causes. In this scenario, the business owner decides to delay implementing a new water conservation process but issues a press release stating the company's dedication to finding ways to conserve water.
By making this announcement, the business owner is attempting to create a positive image of the company's environmental responsibility, even though they have chosen to postpone the implementation of the water conservation process. This technique aims to align the business's marketing efforts with societal concerns and portray the company as socially responsible.
However, it is important to note that in this case, the business owner's actions do not fully align with the stated commitment. The decision to delay implementing the water conservation process raises questions about the true extent of the company's dedication to conserving water. While the press release may be intended to create a positive perception among the public, it is essential for businesses to ensure their actions align with their stated commitments to maintain ethical marketing practices.
Learn more about marketing here:
https://brainly.com/question/33354551
#SPJ11
17) A company purchased 400 units for $30 each on January 31 , It purchased 135 units for $40 each on February 28 . It sold 200 units for $55 each from March 1 through December 31 . If the company uses the last-in, first-out inventory costing method, what is the amount of Cost of Goods Sold on the income statement for the year ending Decembet 31? (Assume that the company uses a perpetual inventory system.) A) $17,400 B) $7350 C) $5400 D) $12,000
The amount of Cost of Goods Sold (COGS) on the income statement for the year ending December 31 is $7,350 and the correct answer is B) $7,350.
the Cost of Goods Sold (COGS) using the last-in, first-out (LIFO) method, we need to determine the cost of the most recent units sold first.
1. Determine the cost of the units purchased on February 28: 135 units * $40 per unit = $5,400.
2. Determine the cost of the units purchased on January 31: 200 units * $30 per unit = $6,000.
(Since 200 units were sold, we need to consider the entire purchase of 400 units from January 31 and part of the purchase from February 28.)
3. The cost of the most recent units sold is $5,400.
4. The remaining units sold from the January 31 purchase are: 200 units - 135 units = 65 units.
5. The cost of the remaining units sold is 65 units * $30 per unit = $1,950.
6. The total COGS is the sum of the cost of the most recent units sold and the cost of the remaining units sold: $5,400 + $1,950 = $7,350.
Therefore, the amount of Cost of Goods Sold (COGS) on the income statement for the year ending December 31 is $7,350. Thus, the correct answer is B) $7,350.
Learn more about amount with the given link,
https://brainly.com/question/25720319
#SPJ11
The account "Utiities Payable" would be classified on a Balance Sheet as 1. Current Liability 2. Current Asset 3. Stockholders' Equity 4. Long Term Asset 5. Long term Liability QUESTION 6 Duck inc bought supplies on account. The accounting impact of this transaction to Duck Inc. will be 1. liabilities increase, stockholders' equity decrease 2. assets increase, assets decrease 3. assets increase, stockholders' equity increase 4. assets increase, liabilities increase QUESTION 7 James inc purchased equipment for $5,600 cash. The account that will be debited in this transaction will be 1. Equipment 2. Land 3. Cash 4. Common Stock 5. Supplies 6. Notes Payable
Hi there! Let's go through each question one by one:
The account "Utilities Payable" would be classified on a Balance Sheet as a current liability (Answer: 1. Current Liability).
When Duck Inc. bought supplies on account, the accounting impact of this transaction will be assets increase, liabilities increase (Answer: 4. Assets increase, liabilities increase).
James Inc. purchased equipment for $5,600 cash. The account that will be debited in this transaction will be Equipment (Answer: 1. Equipment).
To know more about Utilities Payable visit:
https://brainly.com/question/24130119
#SPJ11
