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2 years ago

Window Dressing causes which kind of entry (may have more than one answer)? Multiple Choice Transaction Adjusting Closing

Business

1 answer:

dexar [7]2 years ago

5 0

Answer:

Window Dressing causes Adjusting and Closing entries.

Explanation:

Window Dressing the alteration of financial performance near the year-end to appear as if performance has improved. To make the window dressing entry, some temporary and permanent accounts will be adjusted, especially Sales Revenue and costs to generate paper profits. These adjusting entries are closed to the Income Summary. The permanent accounts which are temporarily closed to the Balance Sheet for the period will also require some adjusting entries.

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Last month, you lent a work colleague $5000 to cover some overdue bills. He agreed to pay you in 1 month with interest at 2% for

faust18 [17]

Answer:

There are at least 2 opportunity costs associated with of letting your colleague have another month:

if you invested in the oil-well venture, you could have earned $5,100 x 36% = $1,836 in one year
if you invested in the new IT stock, you could have earned $5,100 x 48% = $2,448 in one year

You could invest in one of these options, or divide your money and invest in both options, e.g. invest $2,000 in the oil company and $3,000 in the IT company. Each different investment proportion results in a different opportunity cost.

Explanation:

Opportunity costs are the benefits lost or extra costs associated to carrying out an investment or activity instead of another alternative. Sometimes you might have several opportunity costs for one investment, e.g. invest in the IT company which is risky, invest in corporate bonds which is less risky or invest in US securities which is a safe investment.

6 0

2 years ago

Flare Co. manufactures textiles. Among Flare's 2016 manufacturing costs were the following salaries and wages: Loom operators $

Orlov [11]

Answer: $93,000

Explanation:

Flare Co. manufactures textiles. As such the direct labour should be those directly involved in the Manufacturing of these textiles and all others will be considered Indirect Labour.

Looming refers to the weaving of fabric meaning therefore that it is directly related to the Manufacturing of textiles.

Factory Foremen only supervise the activities of the factory and so are not directly involved and Machine Mechanics ensure that machines are running smoothly and so are not directly involved either.

Indirect labor for 2016 is therefore,

= Factory Foremen + Machine Mechanics

= 54,000+ 39,000

= $93,000

3 0

2 years ago

If an adjustable-rate 30-year mortgage for $120,000 starts at 4.0 percent and increases to 5.5 percent, what is the increase in

Lelu [443]

Answer:

The increase in the monthly payment amount is $180

Explanation:

In order to calculate the increase in the monthly payment amount we would have to make the following calculation:

increase in the monthly payment amount=installment increase-installment

installment=(loan amount/1,000)*rate of interest

installment=($120,000/1,000)*4

installment=$480

installment increase=(loan amount/1,000)*rate of interest

installment increase=($120,000/1,000)*5.5

installment increase=$660

increase in the monthly payment amount=$660-$480

increase in the monthly payment amount=$180

The increase in the monthly payment amount is $180

7 0

2 years ago

A company has a process that results in 12,000 pounds of Product A that can be sold for $8 per pound. An alternative would be to

eimsori [14]

Answer:

The correct answer is management should sell Product A now.

Explanation:

According to the scenario, computation of the given data are as follows:

Total production = 12,000 pounds

Sell price = $8 per pound

If process further, Cost = $80,000

Selling price = $14 per pound

So, If we sell the product without further process, than

Total sale value = 12,000 × $8 = $96,000

And, if we sell the product after further processing, then

Total sale value = (12,000 × $14) - $80,000

= $88,000.

As, sales value is more in selling the product without further process, so management should sell the product without further processing it.

8 0

2 years ago

10. The Wetski Water Ski Company is the world’s largest producer of water skis. As you might suspect, water skis exhibit a highl

xenn [34]

Answer: $ 30,290,000

Explanation:

For this question, the transportation table has been addressed below.

“X” indicates that there will be no possible production in the specific cell.

(i) The total cost of optimum production plan = (50,000 x 50) + (50,000 x 78) + (50,000 x 50) + (50,000 x 75) + (20,000 x 91) + (40,000 x 88) + (50,000 x 50) + (50,000 x 75) + (40,000 x 85) + (50,000 x 50) + (2,000 x 75)

= $ 30,290,000.

Therefore, the cost of the plan will be $30,290,000.

5 0

2 years ago