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2 years ago

Finance managers spend the majority of their time managing ____.

Business

2 answers:

Juli2301 [7.4K]2 years ago

8 0

Answer:

The answer would be, long-term financial needs

Explanation:

Financial managers maintain a firm’s financial health by developing long-term investment activities and financing strategies. In order to develop these long-term investments and financing activities, financial managers conduct data analysis and offer advice to senior management on ideas that can maximize the firm’s profits. Moreover, financial managers develop direct investment activities, financial reports, and formulate plans and strategies to achieve the long-term financial goals of a company.

AfilCa [17]2 years ago

8 0

Answering the question, finance managers spend the majority of their time managing short-term financial needs.

Short time finance can be defined as finance needs for a short period. The short period is usually not up to a year. In many businesses, short term finance is also called working capital financing.

<h2>Further Explanation</h2>

Businesses need short time finance to take care of the uneven flow of cash, and for most firms, short term finance is used to finance all kinds of inventory and many more.

There are different types of short term financing and these include:

Trade credit
Short term loans
Business line of credit

Trade credit: firms can get also receive credits from their suppliers or manufacturers. This type of credit is called trade or mercantile credit. The duration of the credit usually lasts between 30 and 90 days. A firm can access trade credit upon opening an account with their suppliers.

Short term loans: firms can also take advantage of short terms loans. This type of short term financing can be granted by banks or other financial institutions.

Business line of credit: it is regarded as the most suitable of all the types of short term financing. It is a type of short term financing in which a certain amount is approved by a financial institution. The firm will have to make a deposit anytime their customers make a payment to the firm.

LEARN MORE:

Binh was recently named general manager of a newly created business brainly.com/question/13500110
Finance managers spend the majority of their time managing brainly.com/question/6711724

KEYWORDS:

finance mangers
short term needs
majority
company
inventory

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Lester Company transferred the following assets to a newly created subsidiary, Mumby Corporation, in exchange for 40,000 shares

sammy [17]

Answer:

Lester Company

The accumulated depreciation amounts for buildings $35,000 and for equipment $60,000 were obtained as the differences between the costs and the book values of the assets. The cost of a long-term asset is usually reduced to its book value by the total amount in the accumulated depreciation account. The accumulated depreciation account shows the progressive amounts set aside annually as a write-off of the asset, showing its use over the period in accordance with the accrual concept and matching principle. The accrual concept and matching principle require cost to be matched to the revenue it helps to generate.

Explanation:

Transferred Assets:

Cost Book Value Difference Explanation

Cash $40,000 $40,000 $0

Accounts Receivable 75,000 68,000 $7,000 (doubtful accounts)

Inventory 50,000 50,000 $0

Land 35,000 35,000 $0

Buildings 160,000 125,000 $35,000 (depreciation)

Equipment 240,000 180,000 $60,000 (depreciation)

5 0

1 year ago

Devin is a landscaper who needs to prepare different types of grass seed for his customers' yards. Bluegrass seed costs \$2.00$2

KiRa [710]

Answer:

7 pounds

Explanation:

Let us assume the x for the 1 pound of bluegrass seed and y for the pound of drought resistant seed

Now the first equation would be

x + y = 25 ............................ (i)

we can write

y = 25 - x

Now the second equation would be

2x + 3y = 68 .............................. (ii)

Now put y value in the equation 2

2x + 3(25 - x) = 68

2x + 75 - 3x = 68

x= 7

Therefore the bluegrass seed is 7

Now for drought-resistant it would be

7 + y = 25

y = 18

8 0

1 year ago

Garcia Co. owns equipment that cost $76,800, with accumulated depreciation of $40,800. Garcia sells the equipment for cash. Reco

ZanzabumX [31]

Answer:

Debit Cash $47,000

Debit Accumulated depreciation account $40,800

Credit Gain on asset disposal $11,000

Credit Equipment asset $76,800

Debit Cash $36,000

Debit Accumulated depreciation account $40,800

Credit Equipment asset $76,800

Debit Cash $31,000

Debit Accumulated depreciation account $40,800

Debit Loss on asset disposal $5,000

Credit Equipment asset $76,800

Explanation:

To recognize gain or loss on the sale of the equipment:

First, the company calculates the carrying amount of the equipment by using the original cost of the asset, minus accumulated depreciation.

Then, subtract this carrying amount from the sale price of the equipment. If the remainder is positive, it is a gain and if the remainder is negative, it is a loss .

In Garcia Co., the carrying amount of the equipment = $76,800 - $40,800 = $36,000

1. Garcia sells the equipment for $47,000 cash

Sale price - Carrying amount of the equipment = $47,000 - $36,000 = $11,000>0

The company records gain by entry:

Debit Cash $47,000

Debit Accumulated depreciation account $40,800

Credit Gain on asset disposal $11,000

Credit Equipment asset $76,800

2. Garcia sells the equipment for $36,000 cash

Sale price - Carrying amount of the equipment = $36,000 - $36,000 = 0

The entry to record the sale:

Debit Cash $36,000

Debit Accumulated depreciation account $40,800

Credit Equipment asset $76,800

3. Garcia sells the equipment for $31,000 cash

Sale price - Carrying amount of the equipment = $31,000 - $36,000 = -$5,000 <0

The company records loss of the sales by entry:

Debit Cash $31,000

Debit Accumulated depreciation account $40,800

Debit Loss on asset disposal $5,000

Credit Equipment asset $76,800

8 0

2 years ago

Sue’s bank account has a balance of $899.83 before she starts spending money. She makes the following transactions: Transaction

yaroslaw [1]

Answer:

Correct option is (c)

Explanation:

Given:

Amount that Sue has in her account before any transactions = $899.83

Expenses:

Rent = $353.76

Video game = $32.79

Bike maintenance = $60.26

Jacket = $55.62

Rug = $80.40

Night out = $35.77

Total expenses = 353.76 + 32.79 + 60.26 + 55.62 + 80.4 + 35.77

= $618.60

Money left in the account after making transactions = 899.83 - 618.60

= $281.23

Sue's share of cost of TV = $305.22

If she agrees to buy a TV, her account will be overdrawn by $23.99 (281.23 - 305.22) as balance in account is lesser than cost of TV.

6 0

2 years ago

Read 2 more answers

On January 1, 2017, Huber Co. sold 12% bonds with a face value of $2,000,000. The bonds mature in five years, and interest is pa

beks73 [17]

Answer:

The interest expense for 2017 is $214,836

Explanation:

Given data from the question;

face value of sold bonds = $2,000,000

Number of years the bond matures = 5 years

Interest paid semiannually of 10%; 5%

Amount later sold = $2,154,500

To yield = 10%

Using effective-interest method of amortization;

Interest expense = the effective-interest rate × the bond's carrying value for each period

= $2,154,500 × 5%

= $2,154,500 × 0.05

= $107,725

[$2,154,500 - ($120,000 - $107,725)] × 0.05

= $107,111

The interest expense for 2017 = $107,725 + 107,111

= $214,836

6 0

2 years ago