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aleksandrvk [35]
2 years ago
11

After preparing its financial statements for November, Unique Interiors notices that its income statement shows total expenses t

hat are $200 too high and total revenues that are $300 too low. What effect will these errors have on Unique’s balance sheet for the month, assuming all other account balances listed on that sheet are correct?
Business
2 answers:
lawyer [7]2 years ago
7 0

Answer:

Explanation:

The month-end retained earnings amount shown on Franklin's retained earnings statement will be $100 lower than the firm's actual month-end retained earnings.

Gelneren [198K]2 years ago
6 0

Answer: The retained earnings on the balance sheet will be understated.

Explanation:

Retained earnings is the reserve profit of an organisation. It forms part of the owners equity on the balance sheet.

An understatement of revenue and overstatement of expenses will lead to a reduced profit.

For instance, if revenue is $1500 and expenses is $500 profit will be $1000. However, if revenue is stated as $1200 while expenses is stated as $700. The profit reported will be $500.

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PLEASE HELP
Ksivusya [100]

3)

Jorge Rodrigues annual salary is:

S=\$48,000

We know that 1 year consists of 12 months, so the gross wage per month can be obtained by dividing the annual salary by 12:

\frac{S}{m}=\frac{48,000}{12}=\$4,000

1 year also contains 52 weeks, so the gross wage per week is obtained by dividing the annual salary by 52:

\frac{S}{w}=\frac{48,000}{52}=\$923

Finally, 1 year contains 26 bi-week periods, so the gross wage per bi-week period is:

\frac{S}{b}=\frac{48,000}{26}=\$1846

4)

In this part, we know that Lexi's salary per month is:

s=\$1600

We know that 1 year consists of 12 months: therefore, the annual salary contains 12 monthly salary, so we can write

S=ns

where

n = 12 is the number of months

S is the annual salary

Substituting s, we find:

S=(12)(1600)=\$19,200

5)

Here the Monthly salary of Ryo is

s=\$2200

So her annual salary is the monthly salary multiplied by 12:

S=ns=(12)(2200)=\$26,400

Then Ryo has been offered a raise of $250 per month, so her new salary per month will be

s'=2200+250=\$2450

Therefore, her new annual salary will be

S'=ns'=(12)(2450)=\$29,400

So, the amount that Ryo will earn more per year is:

\Delta S=S'-S=29,400-26400=\$3000

6)

Being paid salary means that we are paid with a fixed regular payment, usually paid every month.

Being paid by hourly rate instead means that we are paid a fixed amount for every hour of work: therefore, the total monthly salary will depend on the number of hours of work.

Therefore, the main advantages/disadvantages are the following:

- Advantage of being paid salary: the payment is fixed, therefore it is independent on the number of hours worked - so even if one month we work less hours, we still receive the same pay

- Disadvantages: the salary is fixed and cannot be increased by working more - in fact, in the hourly payment, by working more hours it is possible to earn more.

7)

In this problem, the amount of the check in the restaurant is

c=\$340

The customer decides to leave a 20% tip, which corresponds to \frac{20}{100} of the amount of check.

Therefore, we can write the amount of the tip left as

t=\frac{20}{100}c

Simplifying, we get

t=\frac{1}{5}c

And by substituting c = 340, we find the tip left:

t=\frac{1}{5}(340)=\$68

8)

In this problem, Sandra is paid per day.

Her pay per day is

d=\$95

Which means that she is paid 95 dollars per day.

In this month, Sandra has worked for

n = 22 days

Therefore her total earning for this month will be

T=nd

and substituting n = 22 and d = 95, we find:

T=(22)(95)=\$2090

9)

First of all, we have to find the total number of pieces produced by summing the number of pieces produced each day.

For Zinke, the total number of pieces produced is:

n = 54 + 55 + 59 + 62+ 60 =  290

The price per piece produced is

p = $1.60

Therefore, the gross pay is equal to the number of pieces times the price per piece:

P=np=(290)(1.60)=\$464

Then we have to repeat the exercise for Bello. The total number of pieces produced is:

n = 24 + 28 + 30 + 31 + 27 = 140

The price per piece is

p = $2.80

So, the gross pay is:

P=np=(140)(2.80)=\$392

10)

Here the fare for the whole drive was

f = $19.30

However, Steve gave the driver a total of 20$. This means that the tip gave by Steve to the driver is

t=20\$ - 19.30\$ = 0.70\$

Here we are asked to determine if the tip is adequate, generous or not enough. In order to evaluate this, we have to calculate what is the tip in % with respect to the fare.

It is:

\frac{t}{f}\cdot 100 = \frac{0.70}{19.30}\cdot 100 =3.6\%

The tip is 3.6% of the fare: therefore, the tip is not enough (an adequate tip can be considered between 10 and 20 %).

7 0
2 years ago
Early in 20x3, Shifter, Inc. wrote put options for 1,000 shares of its common stock. Purchasers of the options can sell Shifter
OLEGan [10]

Answer: shifter discovers a loss of $3000

Explanation:

Because Shifter paid $5,000 more for the treasury stock than its fair value: 1,000 shares × ($20 − $15). The $2,000 fee (1,000 × $2) offsets that loss yielding a net loss of $3,000

7 0
2 years ago
A(n) _____ is a deliverable-oriented grouping of the work involved in a project that defines the total scope of the project. a.
Svet_ta [14]

Answer: Work breakdown structure.

Explanation:

A work breakdown structure is as the name implies a breakdown of the stages of work involved in successfully completing a greater objective/project. The work breakdown structure is drafted out and gives member of a team direction on the steps needed to achieving their desired objectives.

8 0
2 years ago
You are in charge of preparing a team of three managers from the United States to go to Ciudad Juarez, Mexico, where your compan
Liula [17]

Explanation:

With the intention of preparing the three selected managers as effectively as possible to go to work at a furniture manufacturer in Ciudad Juarez, Mexico, it is ideal that a plan be developed that takes into account mainly what will be the roles performed by the managers in the company, in that case it will be necessary to review the current operations of the plant and manage the plant for the next three years.

First of all, there must be adequate training so that managers can develop their intercultural communication skills, respecting the values ​​of employees of different nationalities, so that interaction flows in the best possible way for business success. After this primordial action, it is necessary that the managers have knowledge about the plant, about the objectives and goals of the company, so that they develop the adequate and integrated management for the organizational success, it is necessary that they participate in meetings, that have flexibility of decisions and are motivated to collaborate with innovative and creative solutions for the company to develop the processes in an expected manner.

8 0
2 years ago
Coca-Cola has operations in all but three nations in the world and Pepsi-Cola is now available in more than 160 countries and te
dem82 [27]

Answer:

The answer is: D) global competition

Explanation:

This is the perfect example of global competition, where huge multinational corporations compete with each other for local markets.

For example, Coca Cola and Pepsi both sponsor different sports competitions, sometimes they even sponsor competing teams in the same championships.

They are present virtually everywhere and probably every single child in the world can recognize a Coke bottle.

8 0
2 years ago
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