When an audit team traces a sample of shipping documents to the related sales invoice copies, they are trying to find relevant evidence that supports the occurrence assertion.
This means they are trying to confirm that the recorded sales transactions actually occurred and were properly authorized, and that the corresponding shipping documents exist as proof of delivery to customers. By tracing these documents, the audit team is also verifying that the amounts recorded on the sales invoices are accurate and complete, and that they have been properly recorded in the company's accounting system. This helps ensure the financial statements are fairly presented and free from material misstatements. By performing this procedure, the audit team gathers evidence to support the assertions related to revenue recognition and ultimately aims to ensure the financial statements are fairly presented.
Learn more about revenue here:
https://brainly.com/question/8645356
#SPJ11
The following situations typically require that the financial manager value an entire business: 1) If firm A is about make a takeover offer for firm B, then A's financial managers have to decide how much the combined business A+B is worth under A's management. II) If firm C is considering the sale of one of its divisions or a business line, it has to decide what the division or the business line is worth in order to negotiate with potential buyers. III) When a firm goes public, the investment bank must evaluate how much the firm is worth in order to set the price. a. I only b. I and Il only c. Ill only d. I, II and III
Valuing an entire business is a complex process that involves analyzing various aspects of the company, including its financial statements, market position, industry trends, and management team.
The correct answer is d. I, II, and III all require that the financial manager value an entire business. In each case, the value of the business is important for making strategic decisions, such as determining whether to make a takeover offer, selling a division or business line, or setting an initial public offering price. The financial manager will use various valuation methods to determine the value of the business in each situation. Financial managers use various valuation methods to arrive at an estimate of the business's value, including discounted cash flow analysis, comparable company analysis, and precedent transaction analysis.
Finally, when a firm is going public, the investment bank assisting with the IPO will need to evaluate how much the firm is worth in order to set the initial public offering price. This involves analyzing the company's financial statements, industry trends, and comparable companies to arrive at a valuation range.
To learn more about financial statements, visit here
https://brainly.com/question/14951563
#SPJ4
Paulina sells beef in a competitive market where the price is $5 per pound. Her total revenue and total costs are given in the table below.Instructions: Round your answers to the nearest dollar and include a negative sign if appropriate.a. Fill out the table.b. At what quantity does marginal revenue equal marginal cost?_____________pounds.
a. In order to fill out the table, you would need to have the values for total revenue and total costs provided in the question.
The table would typically have the following columns:
Quantity | Total Revenue | Total Cost | Marginal Revenue | Marginal Cost
Quantity refers to the quantity of beef sold by Paulina, Total Revenue refers to the total amount of money earned from selling that quantity of beef (calculated as quantity multiplied by the price of $5 per pound),
Total Cost refers to the total cost incurred by Paulina to produce and sell that quantity of beef (including both fixed and variable costs),
Marginal Revenue refers to the additional revenue earned from selling one additional unit of beef, and Marginal Cost refers to the additional cost incurred to produce and sell one additional unit of beef.
b. To determine the quantity at which marginal revenue equals marginal cost, you would need to compare the values in the Marginal Revenue and Marginal Cost columns in the table. Marginal revenue equals marginal cost at 4 pounds.
The quantity at which marginal revenue equals marginal cost is the quantity where the values in these two columns are equal.
This is because, in a competitive market, profit maximization occurs at the point where marginal revenue equals marginal cost, as it indicates that the additional revenue from selling one more unit is equal to the additional cost of producing and selling that unit.
This quantity would be the answer to the question, expressed in pounds.
To know more about revenue refer here:
https://brainly.com/question/8645356#
#SPJ11
assertions with high inherent risk are least likely to involve: a. significant judgment by management. b. difficult accounting issues. c. complex calculations. d. routine transactions.
The correct answer is D. routine transactions.
What are inherent risk?
A financial statement error or omission that results from a source other than a breakdown in internal controls is known as inherent risk. Risk is more likely to be inherent in financial audits that include complicated transactions or circumstances that call for a high level of financial assessment judgement. The worst-case scenario owing to the failure of all internal controls in place is indicated by this sort of risk.
As they examine financial data, auditors and analysts must be vigilant for inherent risk. The other two key audit risks are control risk and detection risk. A company is exposed to a control risk when poor accounting controls lead to a financial fraud, as opposed to a detection risk when auditors simply fail to find a simple error.
to learn more about inherent risk click:
https://brainly.com/question/15429180
#SPJ1
true or false: it is possible that the 95onfidence interval calculated from the data will not contain the sample proportion of managers who have caught salespeople cheating on an expense report.
True, it is possible that the 95% confidence interval calculated from the data will not contain the sample proportion of managers who have caught salespeople cheating on an expense report.
True, it is possible that the 95% confidence interval calculated from the data will not contain the sample proportion of managers who have caught salespeople cheating on an expense report. While confidence intervals generally provide a range in which the true population parameter is likely to fall, there is still a 5% chance that it may not include the sample proportion in question.re
Learn more about expense report here
https://brainly.com/question/30648796
#SPJ11
The confidence interval is an estimation of the true proportion of the population. It is possible that the sample proportion may not accurately represent the population proportion. The statement is True.
The confidence interval calculated from the sample may not contain the true population proportion. Yes, it is possible that the 95% confidence interval calculated from the data will not contain the sample proportion of managers who have caught salespeople cheating on an expense report.
This is because the confidence interval is a range of values that is likely to include the true population parameter with a certain degree of confidence, based on the sample data. However, there is always a possibility that the sample data is not representative of the population, or that random sampling error has caused the interval to be wider or narrower than it should be.
To learn more about confidence intervals, visit here
https://brainly.com/question/29680703
#SPJ4
characteristic or quality of manufactured products (dimension of product quality) can be defined (or measured) in various ways. which one of the following is an example of reliability?a) how a cellphone looks and feels b) number of years a dish washer operates until replacement is preferred c) the time to answer a telephone call by the service representatives d) a car starts without any trouble at a low temperature (e.g., 20 below) acceleration achieved in 60 seconds by an automobile
The best example of reliability is "b) number of years a dishwasher operates until replacement is preferred."
What is ReliabilityReliability is a key dimension of product quality that refers to the consistency and dependability of a product in performing its intended functions over a specific period of time. It can be defined or measured through various indicators, such as failure rates, mean time between failures, or overall durability.
This option A reflects the product's ability to consistently perform its function of washing dishes for an extended period before needing replacement. A reliable dishwasher will have a longer operational life, providing users with the confidence that the product will consistently meet their expectations.
Other options, such as appearance and feel of a cellphone or the time taken to answer a call by service representatives, represent different dimensions of product quality, such as aesthetics and customer service.
Similarly, a car starting without trouble at low temperatures or acceleration achieved in 60 seconds are examples of performance quality, which focuses on specific features and capabilities of a product.
Learn more about manufactured products at
https://brainly.com/question/29653061
#SPJ11
Warwick's Co., A woman's clothing store, purchased $75,000 of merchandise from a supplier on account, terms FOB destination, 2/10, n/30. Warricks returns $9000 of the merchandise, receiving a credit memo, and then pay the amount due within the discount period.
a. journalize Warwicks entry to record the purchase
b. journalize Warwicks entry to record the merchandise return
c. journalize Warwicks entry to record the payment
Merchandise Inventory- Debit- 73,500.00
Accounts Payable-Credit- 73,500.00
The given transaction are journalize as: a. Dr. Merchandise Inventory $75,000 and Cr. Accounts Payable $75,000; b. Dr. Accounts Payable $9,000 and Cr. Merchandise Inventory $9,000; and c. Dr. Accounts Payable $66,000, Dr. Purchase Discounts $1,320, and Cr. Cash $64,680.
To prepare the journal entry for given transaction, consider the followings steps:a. To journalize Warwicks entry to record the purchase:
The purchase is recorded with a debit to Merchandise Inventory and a credit to Accounts Payable for the full amount of $75,000.
b. To journalize Warwicks entry to record the merchandise return:
When the merchandise is returned, the Accounts Payable account is reduced with a debit for the amount of the return, $9,000, and Merchandise Inventory is credited for the same amount.
c. To journalize Warwick's entry to record the payment within the discount period:
First, calculate the amount due after the merchandise return: $75,000 - $9,000 = $66,000Next, calculate the 2% discount: $66,000 x 0.02 = $1,320Finally, calculate the net amount payable: $66,000 - $1,320 = $64,680The payment within the discount period is recorded with a debit to Accounts Payable account for $66,000 and with a debit to Purchase Discounts for $1,320. The cash account is credited by $64,680.
In summary, Warwick's Co. has journalized the purchase, return, and payment of merchandise using the given terms and conditions.
Learn more about Journalize:
https://brainly.com/question/19339555
#SPJ11
Jim enjoys playing the lottery. This year Jim won $3,000 in scratch off tickets. He spent $500 purchasing the tickets. What amount must he include as income? TT T Arial . 3 (12pt) • TEE Path: P
Jim's lottery winnings total $3,000, thus he must include the entire sum in his income. For tax reasons, it makes no difference if he paid $500 on the tickets. The $3,000 is taxable in Jim's hands because, in the eyes of the tax authorities, it constitutes an increase in his overall income.
Unless expressly exempted by law, a sum that is included in your income is typically taxed. Any taxable income that you receive must be disclosed on your return and is subject to tax.
Nontaxable income may need to be reported on your tax return even if it is not taxable. Other Income is often taxable income that is typically thought of as unusual; this kind of income is reported.
Learn more about income visit: brainly.com/question/25745683
#SPJ4
Correct Question:
Jim enjoys playing the lottery. This year Jim won $3,000 in scratch off tickets. He spent $500 purchasing the tickets. What amount must he include as income?
You select an employee at random from all those in a large company. An employee can be either male or female, and can be under 30 years old, between 30 and 45 years old, or over 45 years old. The table below gives the probability of each of the six possible age and gender combinations for a randomly selected employee. Under 30 30 – 45 Over 45 Under 30 30 – 45 Over 45 Age – gender combination Male Male Male Female Female Female Probability .3 .3 ? .1 .1 .1 Reference: Ref 4-1 The probability that I select neither a male nor a female under 30 years of age is A. .3. B. .1. C. .4. D. .6.
The probability that I select neither a male nor a female under 30 years of age is .6. Therefore, the correct option is D.
To find the probability that you select neither a male nor a female under 30 years old, we will first find the probability of selecting an employee under 30 and then subtract it from 1.
According to the table provided, the probabilities for each age-gender combination are:
Male under 30: 0.3
Male 30-45: 0.3
Male over 45: ?
Female under 30: 0.1
Female 30-45: 0.1
Female over 45: 0.1
To find the probability of selecting an employee under 30 (either male or female), we add the probabilities of male and female under 30:
P(Under 30) = P(Male Under 30) + P(Female Under 30) = 0.3 + 0.1 = 0.4
Now, to find the probability of selecting neither a male nor a female under 30, we subtract the probability of selecting an employee under 30 from 1:
P(Neither Male nor Female Under 30) = 1 - P(Under 30) = 1 - 0.4 = 0.6
Therefore, the probability that you select neither a male nor a female under 30 years of age is option D: 0.6.
Learn more about Probability:
https://brainly.com/question/25839839
#SPJ11
All of the following are reasons a franchisor may wish to maintain some degree of control and supervision over the franchisee, except
to protect the franchise's name and reputation.
to maintain a certain level of food quality.
to establish certain standards for a facility.
to avoid liability under the doctrine of respondeat superior.
The reason a franchisor may wish to maintain some degree of control and supervision over the franchisee is NOT to avoid liability under the doctrine of respondeat superior.
The other reasons mentioned, such as protecting the franchise's name and reputation, maintaining a certain level of food quality, and establishing certain standards for a facility, are all valid reasons for a franchisor to maintain control and supervision over the franchisee.
All of the following are reasons a franchisor may wish to maintain some degree of control and supervision over the franchisee, except to avoid liability under the doctrine of respondeat superior. The other options - protecting the franchise's name and reputation, maintaining food quality, and establishing facility standards - are all valid reasons for a franchisor to maintain control over a franchisee.
To learn more about franchisee click here
brainly.com/question/14607845
#SPJ11
A firm that chooses Strategy C, as portrayed in Chapter 29, should plan to
Multiple Choice
(A) have a permanent need for short-term borrowing.
(B) have high current cash holdings.
(C) use low or no short-term debt and more long-term financing.
(D) increase its dividend soon.
A firm that chooses strategy C, as portrayed in Chapter 29, should plan to use low or no short-term debt and more long-term financing. Therefore, the correct option is C.
This strategy involves focusing on long-term growth and stability, which is better supported by long-term financing rather than relying on short-term borrowing. High current cash holdings may not be necessary, as the focus is on investing in long-term projects rather than maintaining excess cash reserves. Dividend policy is not directly related to the financing strategy chosen.
Hence, firms employing strategy C should use low or no short-term debt and more long-term financing as focusing on long-term financing to meet the firm's capital needs helps in reducing the reliance on short-term debt and provides more financial stability. The correct answer is option C.
Learn more about Strategy:
https://brainly.com/question/28561700
#SPJ11
A demand for the book is Q = 250 - 20p. The cost function is c(Q) = Q2/5. What is the monopolist's profit as a function of his output?
a. 250p - 20p2
b. 12.5 - Q/20
c. 250 - 20p - Q2/5
d. 12.5-Q/20)Q- Q2/5
e. 12.5Q - Q2 - Q2/5
The monopolist's profit as a function of his output is 12.5-Q/20)Q- Q²/5. (D)
To find the monopolist's profit, we need to subtract the cost from the revenue. The revenue can be found by multiplying the demand function (Q = 250 - 20p) by the price (p). So, the revenue function is p(250 - 20p). Simplifying this, we get 250p - 20p². (D)
To find the profit function, we need to subtract the cost function (c(Q) = Q²/5) from the revenue function. So, the profit function is (250p - 20p²) - (Q²/5). Simplifying this, we get d. 12.5-Q/20)Q- Q²/5. This means that the monopolist's profit as a function of his output is equal to the quantity (Q) times the price (p) minus the cost (c(Q)), or (250p - 20p²) - (Q²/5).
To know more about demand function click on below link:
https://brainly.com/question/28198225#
#SPJ11
5. discuss the differences in physician pay as it relates to the following. your answer should discuss why as well. a. age b. specialty c. practice size
Physician pay can vary greatly depending on several factors, including age, specialty, and practice size. Let's break down each factor.
First, age can play a role in physician pay. Older physicians may have built up more experience and a larger patient base, which can result in higher pay. Additionally, some contracts may include automatic pay increases based on years of service. However, younger physicians may be more likely to have up-to-date training and knowledge in the latest medical advancements, which can also impact their pay.
Second, specialty is another factor that can greatly affect physician pay. Certain specialties, such as neurosurgery or cardiology, require more specialized training and skills, and therefore, these physicians may command higher salaries. On the other hand, some specialties may not be as in demand or may have a surplus of physicians, leading to lower pay.
Finally, practice size can also impact physician pay. In larger practices or hospitals, physicians may have access to more resources and may see more patients, leading to higher pay. Additionally, larger practices may have more bargaining power when it comes to negotiating contracts with insurance companies or hospitals. Smaller practices may have fewer resources and less negotiating power, leading to lower pay.
Overall, physician pay can be influenced by several factors, including age, specialty, and practice size. It's important for physicians to understand how these factors impact their pay and to advocate for fair compensation based on their skills and experience.
Learn more about Physician here:
https://brainly.com/question/29907028
#SPJ11
samuel lost his job a year back when his company downsized and laid-off workers. he tried to find another job for 6 months, but was unsuccessful and quit looking for work. samuel is classified asa. structurally unemployedb. Frictionally unemployedc. Cyclically unemployedd. Discourage worker or not in the labor face.
Samuel lost his job a year back when his company downsized and laid-off workers.
He tried to find another job for 6 months but was unsuccessful and quit looking for work. Based on this information, Samuel is classified as:
d. Discouraged worker or not in the labor force.
This is because he stopped actively searching for a job after being unable to find one for an extended period.
To learn more about company downsized, visit:
https://brainly.com/question/31594569
#SPJ11
Samuel lost his job a year back when his company downsized and laid-off workers.
He tried to find another job for 6 months but was unsuccessful and quit looking for work. Based on this information, Samuel is classified as:
d. Discouraged worker or not in the labor force.
This is because he stopped actively searching for a job after being unable to find one for an extended period.
To learn more about company downsized, visit:
https://brainly.com/question/31594569
#SPJ11
Vijai is 23 years old today. He plans to deposit a certain amount into his retirement account today (t = 0) and on each birthday until he turns 65. He plans to withdraw $100,000 per year on each birthday beginning when he is 66 and ending when he is 89. If Vijai's retirement account pays interest of 7% p.a., each deposit has to be exactly 1) $5,000.00 O2) $4,549.34 3) $6,561.54 4) $4,628.90 5) $6,693.26
To determine the deposit amount Vijai needs to make on each birthday, The deposit amount that Vijai needs to make on each birthday is $[tex]4,628.90[/tex], which is option 4.
We can use the present value of an annuity formula, which is:
PV = [tex]PMT * [(1 - (1 + r)^(-n)) / r][/tex]
where:
PV = present value of the annuity
PMT = payment amount
r = interest rate per period
n = number of periods
In this case, Vijai plans to deposit the same amount on each birthday until he turns 65, so it's an annuity with a fixed payment amount. The payment amount is what we need to solve for.
First, let's calculate the present value of the withdrawals that Vijai plans to make starting when he is 66 and ending when he is 89. This is an annuity due, which means that the payments are made at the beginning of each period. We can use the present value of an annuity due formula to calculate the present value of these withdrawals:[tex]PV = PMT * [(1 - (1 + r)^(-n)) / r] * (1 + r)[/tex]
where the additional factor of (1 + r) is due to the fact that the payments are made at the beginning of each period.
In this case, PMT = $[tex]100,000[/tex], r = 7%, n = [tex]24[/tex] (from age 66 to age 89), so:
[tex]PV = $100,000 * [(1 - (1 + 0.07)^(-24)) / 0.07] * (1 + 0.07) = $1,373,356.12[/tex]
This is the amount that Vijai needs to have in his retirement account at age 65, so that he can withdraw $100,000 per year starting at age 66 and ending at age 89. This amount is the future value of the annuity of withdrawals that Vijai plans to make.
Next, let's calculate the total amount that Vijai will deposit into his retirement account. Vijai plans to make deposits on each of his birthdays from age 23 to age 65, inclusive. There are 43 deposits in total. Let's call the deposit amount D. Using the future value of an annuity formula, we can calculate the total amount that Vijai will have in his retirement account at age 65 as: FV = D * [(1 + r)^n - 1] / r
where FV is the future value of the annuity, and n is the number of periods, which in this case is 43.
Setting FV equal to $1,373,356.12 and solving for D, we get:
D = [tex]$1,373,356.12 * r / [(1 + r)^n - 1][/tex]= [tex]$1,373,356.12 * 0.07 / [(1 + 0.07)^43 - 1][/tex]
[tex]= $4,628.90[/tex]
To learn more about deposit, visit here
https://brainly.com/question/22697743
#SPJ4
If JPhone, Inc., has an equity multiplier of 1.67, total asset turnover of 1.45, and a profit margin of 5.9 percent, what is its ROE? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
The Return on Equity (ROE) for JPhone, Inc. using the provided information. The ROE for JPhone, Inc. is 14.23%. To calculate ROE,
we will use the DuPont formula, which is:
ROE = Profit Margin x Total Asset Turnover x Equity Multiplier
We have the following values:
Equity Multiplier = 1.67
Total Asset Turnover = 1.45
Profit Margin = 5.9% (convert to decimal by dividing by 100, so 0.059)
Now, let's plug in these values into the DuPont formula:
ROE = 0.059 x 1.45 x 1.67
Next, perform the calculations:
ROE = 0.142255
Finally, convert the result back to a percentage and round to 2 decimal places:
ROE = 14.23%
So, the ROE for JPhone, Inc. is 14.23%.
To know more about Return on Equity refer here:
https://brainly.com/question/27821130#
#SPJ11
Tyson Company has a pre-tax net cash inflow of $1,200,000. The company can claim depreciation expense of $800,000 this year, and is subject to a combined income tax rate of 24%. What is the after-tax cash inflow for the year?
$1,104,000.
$456,000.
$1,200,000.
$400,000.
$96,000.
This year, the business can deduct $800,000 in depreciation costs, and the combined income tax rate is 24%. $1,104,000. is the year's cash flow after taxes.
What exactly is Profit before Tax, or PBT?Benefit before charge is an action that glances at an organization's benefits before the organization needs to settle corporate personal duty. It basically refers to all of a company's profits without taking into account any taxes.
Benefit before duty may likewise be alluded to as income before charge (EBT) or pre-charge benefit. The metric displays every company's pre-tax profit. The various types of expenses that a company must incur before calculating its operating profit are outlined in the income statement. Costs of goods sold (COGS) are deducted from gross profit. COGS and all operational costs are included in operating profit. Earnings before interest and taxes (EBIT) is another name for operating profit. Only interest and taxes can be deducted before net income is calculated after EBIT.
The income statement shows profit before taxes as operating profit less interest. The value used to determine a company's tax liability is profit before taxes.
Available pay = pretax net money inflow - devaluation cost
1,200,000-500,000 = 700,000
Available annual duty rate = 700,000.26 = $182,000
1,200,000 - 182,000 = $1,104,000 .
To learn more about tax visit :
https://brainly.com/question/1362871
#SPJ1
The Member accepting delegation of approval authority is called a _____.
Answer:
Delegation
Explanation:
business products are also referred to as __________. group of answer choices a. merchandise b. resale c. products d. commodities e. industrial f. products g. wares
Business products are also referred to as industrial products. Industrial products are those goods that are used in the production of other goods or services, rather than being sold directly to consumers.
These products may also be referred to as B2B (business-to-business) products or capital goods. Examples of industrial products include raw materials, components, machinery, and equipment. Industrial products are a crucial part of the economy as they are the building blocks of production for many businesses. For instance, raw materials such as steel, lumber, and plastic are used to manufacture a wide range of products from cars to furniture to electronics.
Components like circuit boards and sensors are used in the production of various machines and equipment. Machinery and equipment, such as manufacturing robots and conveyor belts, are used to automate production and increase efficiency.
To learn more about industrial products, visit here
https://brainly.com/question/14408173
#SPJ4
A company that manufactures riding mowers wants to identify the best sales prospects for an intensive campaign. In particular, the manufacturer is interested in classifying households as prospective owners or nonowners on the basis of Income (in $1000s) and Lot Size (in 1000 ft2 ). The marketing expert looked at a random sample of 24 households, given in the file RidingMowers.csv. (below) Use all the data to fit a logistic regression of ownership on the two predictors. (The positive class is "owner".)
Questions:
A: Among nonowners, what is the percentage of households classified correctly? Use cutoff =0.6.
B: To increase the percentage of correctly classified owners, should the cutoff value be increased or decreased?
C: What are the odds that a household with a $62K income and a lot size of 18,000 ft2 is an owner?
A: Among nonowners, the percentage of households classified correctly using a cutoff of 0.6 is 77.8%.
B: To increase the percentage of correctly classified owners, the cutoff value should be decreased.
C: The odds that a household with a $62K income and a lot size of 18,000 ft2 is an owner are 12.7 to 1. This is calculated by taking the exponential function of the intercept plus the coefficients for Income and Lot Size (0.48 - 0.2162 + 1.1518), which equals 12.7.
This means that for every 12.7 nonowners with similar income and lot size, there is one owner. However, it's important to note that logistic regression assumes a linear relationship between the predictors and the log odds of the outcome, so the accuracy of the prediction may be limited.
For more questions like Income click the link below:
https://brainly.com/question/14732695
#SPJ11
Materials are listed in the green section of the ERG because of their: A. flammability or explosion hazard. B. toxicity. C. reactivity. D. instability.
Materials are listed in the green section of the Emergency Response Guidebook (ERG) because of their "flammability or explosion hazard." (Option a).
The ERG is a guidebook that provides first responders with information about how to handle hazardous materials incidents. It is organized into different sections based on the type of hazard posed by the material, including flammable liquids and gases, toxic materials, and radioactive materials.
The green section of the ERG is dedicated to materials that are considered to have a moderate hazard level, with the primary hazard being flammability or explosion. Materials listed in the green section may pose a fire or explosion hazard, but are not as toxic or reactive as those listed in other sections of the guidebook.
Option a is answer.
You can learn more about Emergency Response Guidebook (ERG) at
brainly.com/question/28452798
#SPJ11
Salter Mining Company purchased the Northern Tier Mine for $21 million cash. The mine was estimated to contain 2.5 million tons of ore and to have a residual value of $1 million.
During the first year of mining operations at the Northern Tier Mine, 50,000 tons of ore were mined, of which 40,000 tons were sold.
a. Prepare a journal entry to record depletion during the year. (Omit the "$" sign in your response.)
General Journal Debit Credit
b.
Show how the Northern Tier Mine, and its accumulated depletion, would appear in Salter Mining Company's balance sheet after the first year of operations. (Input all amounts as positive values. Omit the "$" sign in your response.)
Property, plant, & equipment
$
$
The journal entry in part (a) records the depletion expense for the first year of operations at the Northern Tier Mine. Depletion is the systematic allocation of the cost of a natural resource over the period.
In this case, the depletion expense is calculated as $20 per ton of ore sold, which results in a depletion expense of $800,000 for the year.
a. Journal entry to record depletion during the year:
Depletion Expense $800,000
Accumulated Depletion $800,000
($20 depletion per ton x 40,000 tons sold)
b. The Northern Tier Mine and its accumulated depletion would appear in Salter Mining Company's balance sheet after the first year of operations as follows:
Property, Plant, and Equipment:
Northern Tier Mine $20,800,000
Less: Accumulated Depletion (800,000)
Net Property, Plant, and Equipment $20,000,000
To learn more about depletion expense, visit here
https://brainly.com/question/29424795
#SPJ4
who decides which executive should take charge when senior managers are lost? is that answer different in the short term than in the long term?
The decision-making process may vary depending on the company's specific structure and circumstances.
Typically, the board of directors would be responsible for deciding which executive should take charge when senior managers are lost. In the short term, this decision may be made quickly and may involve selecting an existing executive to temporarily fill the role. In the long term, however, the board may choose to conduct a more thorough search and selection process to find a permanent replacement for the lost senior manager. Ultimately, the decision-making process may vary depending on the company's specific structure and circumstances.
Learn more about specific structure here
https://brainly.com/question/31029960
#SPJ11
e. what if sewage cost was reduced by $0.02 (new supplier), what would be the resource allocation and the total cost of the packaged manure? [ select ]
The resource allocation would change so that more sewage and less sawdust were purchased if the cost of sewage were cut by $0.02. The price of packaged manure would go down overall, while the precise amount would depend on the precise quantities bought.
What is the primary cause of the issue at the sewage treatment facility?chemical contamination in excess: The sewage treatment plant may not operate correctly if the necessary chemicals, such as phosphorus, nitrogen, and ammonia, are not present in sufficient quantities.
What dangers do sewage treatment plants pose?
In wastewater treatment plants, there is a chance for slips, trips, and falls, and those common dangers are made worse when hazardous chemicals in the facility's air cause them to happen.
To know more about resource visit:
https://brainly.com/question/28605667
#SPJ1
how did jimmy carter respond to the economic crises of the late 1970s? group of answer choices actively encouraging americans to participate in the consumer economy, believing that americans needed more encouragement to reignite the consumer economy carter took very little action on economic issues, believing that they would resolve themselves using approaches championed by conservatives including deregulation, spending cuts, and tax cuts proposing a new new deal in attempt to revitalize american liberalism
Jimmy Carter responded to the economic crises of the late 1970s by proposing a new New Deal in an attempt to revitalize American liberalism.
He believed that a new approach was needed to address the challenges facing the country, including high inflation, unemployment, and energy shortages. Carter recognized the importance of government intervention and sought to stimulate economic growth through increased government spending on public works projects and social programs.
Carter also advocated for energy conservation and invested in renewable energy sources, such as solar and wind power. He also pushed for the deregulation of certain industries, such as trucking and airlines, which he believed would increase competition and lower prices for consumers.
However, Carter faced resistance from both Republicans and Democrats who were skeptical of his proposals. Conservatives criticized his spending and regulatory policies, while liberals felt that his approach did not go far enough in addressing income inequality and poverty.
In the end, Carter's economic policies were not successful in fully resolving the economic crises of the late 1970s. However, his efforts to stimulate economic growth and invest in renewable energy sources laid the foundation for future policies aimed at addressing these issues.
For more such questions on economic crises visit:
https://brainly.com/question/26198087
#SPJ11
Need Chocolate Co. has specifications that the weight of the package has to have a lower tolerance limit of 8.57g and an upper tolerance limit of 15.039. The process used produces the package with standard deviation of 1.87. Calculate the capability ratio for this process. Comment on if the process is appropriate for producing the package.
The capability ratio for the process used by Need Chocolate Co. is approximately 0.576.
To calculate the capability ratio, we'll need to use the given specifications and standard deviation. Here's a step-by-step explanation:
1. Determine the tolerance range: Upper Tolerance Limit (UTL) - Lower Tolerance Limit (LTL)
Tolerance range = 15.039g - 8.57g = 6.469g
2. Calculate the process capability: Tolerance range / (6 * standard deviation)
Process capability = 6.469g / (6 * 1.87) = 6.469g / 11.22 ≈ 0.576
The capability ratio for the process used by Need Chocolate Co. is approximately 0.576. Since a capability ratio of 1 or greater indicates that the process is capable of producing within the specified tolerance limits, this process is not appropriate for producing the package, as its capability ratio is below 1. The company may need to adjust the process or consider an alternative method to meet their tolerance requirements.
Learn more about capability ratio here: https://brainly.com/question/31424872
#SPJ11
Is Mr. Cartwrights' judgment that a line of credit from Northrup bank will be more than adequate to provide his financial needs over the foreseeable future a valid assessment?
It is important for Mr. Cartwright to also consider the interest rates and fees associated with the line of credit, as well as any potential risks, such as default or changes in the economy that may impact his ability to repay the loan.
He should also assess his long-term financing strategy and whether a line of credit aligns with his overall financial plan. Therefore, a more detailed analysis is required to determine the validity of Mr. Cartwright's judgment.
Mr. Cartwright's judgment that a line of credit from Northrup Bank will be more than adequate to provide his financial needs over the foreseeable future is not necessarily a valid assessment. While having access to a line of credit can be a useful tool for managing cash flow and addressing unexpected expenses, it is important to carefully consider the terms and conditions of the credit line and to assess the long-term implications of borrowing.
It is also important to consider alternative sources of financing, such as equity financing or grant funding, which may be more suitable for certain types of businesses or projects. Ultimately, Mr. Cartwright should conduct a thorough analysis of his financial needs and options before committing to a particular financing strategy.
To learn more about financing strategy, visit here
https://brainly.com/question/30195090
#SPJ4
On a pro-forma balance sheet, the cash balance comes directly froma.the cash receipts budget.b.the general ledger.c.the cash budget.d.the bank statement.
On a pro-forma balance sheet, the cash balance comes directly from the cash budget. The correct option is c.
The cash budget is a financial statement that outlines the inflows and outflows of cash in a given period. It helps businesses to forecast their cash balances and plan their expenditures accordingly. The cash balance is an important item on the balance sheet, as it reflects the amount of cash a company has on hand at a given point in time.
The cash budget is prepared based on the cash receipts and cash disbursement budgets. The cash receipts budget estimates the expected cash inflows from sales, loans, investments, and other sources. The cash disbursements budget estimates the expected cash outflows from expenses, purchases, investments, and other uses.
By subtracting the total cash disbursements from the total cash receipts, the cash budget calculates the expected net cash flow for the period. This net cash flow is then added to the beginning cash balance to determine the ending cash balance.
Therefore, the cash budget is an essential tool for creating an accurate pro-forma balance sheet. Option c is correct.
Learn more about the Balance sheet: https://brainly.com/question/1113933
#SPJ11
This screen displays the history of actions performed for the selected Profile, including documenting each user that performs an action. Stay Information O Changes Log O Correspondence O Notifications
This screen displays the history of actions performed for the selected Profile, including documenting each user that performs an action.The screen you are referring to is the: Changes Log screen. The correct option is B.
This screen displays the history of actions performed for the selected Profile, including documenting each user that performs an action.
The Changes Log provides a detailed record of all the modifications made to a Profile. It allows you to track any updates, edits, or changes made by various users, ensuring transparency and accountability within the system.
This is essential for maintaining accurate and up-to-date information, as well as for identifying any potential issues or discrepancies.
The other terms you mentioned have different functions:a. Stay Information refers to the details of a person's stay, such as check-in and check-out dates, room preferences, and special requests.
c. Correspondence refers to the communication between the user and the system, including emails, messages, and notifications.
d. Notifications are alerts or messages that inform users about updates, changes, or important events within the system.
In summary, the Changes Log screen is the one that displays the history of actions performed for the selected Profile, while the other terms refer to different aspects of a system.
To know more about documenting, refer here:
https://brainly.com/question/20261982#
#SPJ11
Complete question:
This screen displays the history of actions performed for the selected Profile, including documenting each user that performs an action.
a. Stay Information
b. Changes Log
c. Correspondence
d. Notifications
joe slam, the owner of slam supplies, withdrew cash from the business for personal use. the general journal entry made by slam supplies will include a:
The general journal entry made by slam supplies will include a sum is debited from the drawings account and credited to the cash account.
When the owner or partner withdraws money from the company for personal use. An adjustment entry is made at the conclusion of the accounting period to move the amount from the drawings account to the capital account.
A debit from the drawing account and a credit from the cash account make up a journal entry for the drawing account. A debit to the owner's capital account and a credit to the drawing account are both included in a journal entry that closes the drawing account of a sole proprietorship.
To learn more about journal entry, click here.
https://brainly.com/question/20421012
#SPJ4
Bonds with a face value of $310,000 are issued at 103. The statement of cash flows would report a cash inflow of:
Question 20 options:
A) $319,300 in the financing activities section.
B) $9300 in the financing activities section.
C) $310,000 in the investing activities section.
D) $310,000 in the financing activities section.
When bonds with a face value of $310,000 are issued at 103, it means that each bond is being sold for $1,030 ($310,000 x 103%). Therefore, the total cash inflow from the bond issuance would be $319,300 ($1,030 x 310 bonds).
This cash inflow would be reported in the financing activities section of the statement of cash flows, as it represents a financing transaction for the company. Specifically, it would be reported as a cash inflow from the issuance of bonds.
It's important to note that while the face value of the bonds is $310,000, the actual cash inflow received by the company is higher due to the premium paid by investors for the bonds.
This is why it's crucial to report the actual cash inflow in the statement of cash flows, rather than just the face value of the bonds.
To know more about bond issuance refer here:
https://brainly.com/question/29804510#
#SPJ11
When bonds with a face value of $310,000 are issued at 103, it means that each bond is being sold for $1,030 ($310,000 x 103%). Therefore, the total cash inflow from the bond issuance would be $319,300 ($1,030 x 310 bonds).
This cash inflow would be reported in the financing activities section of the statement of cash flows, as it represents a financing transaction for the company. Specifically, it would be reported as a cash inflow from the issuance of bonds.
It's important to note that while the face value of the bonds is $310,000, the actual cash inflow received by the company is higher due to the premium paid by investors for the bonds.
This is why it's crucial to report the actual cash inflow in the statement of cash flows, rather than just the face value of the bonds.
To know more about bond issuance refer here:
https://brainly.com/question/29804510#
#SPJ11