Explain what is meant by "Information Technology (IT) flattens organizations?

Answers

Answer 1

Answer: The answer is given below

Explanation:

Information Systems are the networks of both the hardware and the software which is used by economic agents to collect, process, create and help in the distribution of data.

Information Technology (IT) flattens organizations simply means that information systems can help in the reduction of the levels in an organization through the provision of information to managers which will be used in the supervision of other emoloyees and also, lower-level employees could be given more authority relating to decision-making.

Since decision making has been pushed to lower level then fewer managers will be needed. This ensures that faster decision making are made and there's increase in the span of control.


Related Questions

Do you agree or disagree with the manager’s decision of when to ship goods to customers and record the revenue? Explain your reasoning. Is there an accounting rule against this practice?

Answers

Answer:

sorry

Explanation:

how do you determine retained earnings at year end

Answers

Explanation:

The retained earnings are calculated by adding net income to (or subtracting net losses from) the previous term's retained earnings and then subtracting any net dividend(s) paid to the shareholders. The figure is calculated at the end of each accounting period (quarterly/annually.)

Hope it helped u if yes mark me BRAINLIEST

Quarterly and annually

Orrick Company reported total assets of $4,200,000, total liabilities of $700,000, and total equity of $3, 500,000 at the end of the year and total sales of $15,000,000 during the year. The company's debt-to-equity ratio (stated in a percentage rounded to one decimal point) is______.a. 0.2%.b. 0.5%.c. 2.0%.d. 20.0%.

Answers

Answer:

d. 20.0%.

Explanation:

The computation of the debt to equity is shown below:

Debt to equity is

= (total debt ÷ total equity)

where,

Total debt is $700,000

And, the total equity is $3,500,000

Now place these values to the above formula

So, the debt to equity ratio is

= ($700,000 ÷ $3,500,000)

= 20%.

Hence, the debt to equity ratio is 20%

Therefore the correct option is d. 20%

In the most basic terms, while working out the business process of production and marketing, you need to be continually prepared for?

Answers

Answer:

In the most basic terms,while working out the business process of production and marketing, you need to be continually prepared for adapting to new conditions in the market and within your organization.

Bringham Company issues bonds with a par value of $540,000 on their stated issue date. The bonds mature in 6 years and pay 9% annual interest in semi-annual payments. On the issue date, the annual market rate for the bonds is 12%.
1. What is the amount of each seml-annual Interest payment for these bonds?
2. How many semi-annual Interest payments will be made on these bonds over their Iife?
3. Use the Interest rates gven to select whether the bonds are Issued at par, at a discount, or at a premlum.
4. Compute the price of the bonds as of their issue date.
5. Prepare the Journal entry to record the bonds' Issuance.

Answers

Answer:

1. $24,300

2. 12

3. the bond is trading at a discount.

4. $470,090.86

5. Journal Entry

Cash $470,090.86 (debit)

Bond Payable $470,090.86 (credit)

Explanation:

1. seml-annual Interest payment

Seml-annual Interest payment = ($540,000 × 9 %) ÷ 2

                                                  = $24,300

2. Number of seml-annual Interest payment

Number of seml-annual Interest payment = 6 years × 2

                                                                     = 12

3. Issue

The annual market rate for the bonds (YTM) ,  12% is greater than the coupon rate of the bond 9%.

The Price will be less than the par value and we say that the bond is trading at a discount.

4. Computation of the Issue Price, PV

PMT = $24,300

n = 12

YTM = 12 %

FV = $540,000

p/yr = 2

PV = ?

Using a Financial Calculator, the Issue Price, PV is $470,090.86

5. Journal Entry

Cash $470,090.86 (debit)

Bond Payable $470,090.86 (credit)

Product and Period Costs Identify the following costs as a product cost or a period cost for a magazine publisher: a. Sales salaries b. Paper used for the magazine c. Maintenance on printing machines d. Depreciation expense—corporate headquarters

Answers

Answer:

Explanation:

We were told to Identify the following costs as a product cost or a period cost for a magazine publisher:

PRODUCT COST are all the incurred cost during production of a service/ product till it's available to get to the consumer. This could be direct labor as well as over head.

PERIOD COST: are cost that cannot be associated to production cost such as rents, utilities cost that are required for the business.

a). SALES SALARIES

Identification: product cost

b. PAPER USED FOR THE MAGAZINE

Identification: product cost

c. MAINTENANCE ON PRINTING MACHINE

Identification: product cost

d) DEPRECIATION EXPENSES—corporate headquarters

Identification: Period cost

What is the urge to form and maintain personal and professional bonds called?

Answers

Answer:

The "urge to form and maintain personal and professional bonds" is called belongingness.  This is the need to belong to a community.  It is a basic emotional need that demands and gives attention to others, whether they are family, friends, co-workers, within residential communities, religious circles, educational, social, and professional environments.

Explanation:

Man and woman are created to be social beings who live in community with other human beings.  Man and woman are not created separately.  Biblically, when God created Adam, God made him man and woman.  Adam was a complete human being.  No wonder God made Adam to fall asleep so that He could remove the woman.  It is in their unity that they can multiply.  And ever since that date,  both man and woman have longed to unify. "That is why they are no longer two, but one," and "What God has joined, let no man put asunder," according to Jesus Christ.  This is on a personal level, where the family and common community persist.

In our professional and business life, human beings have discovered that they cannot go it alone.  There is always the need for synergy.   The product of synergistic relationships is always greater than the sum of our individual efforts.  Belonging to a professional body, therefore, gives authenticity to our professional achievements.  Forming a corporation gives authenticity and expansion to our entrepreneurial efforts.  Belongingness grants a stamp of authority, provides a source of guidance, and ensures progress on all fronts.

What are some of the key environmental forces that have changed the way projects are managed? What has been the effect of these forces on the management of projects?Why is the implementation of projects important to strategic planning and the project manager?What is meant by an integrative approach to project management? Why is this approach important in today

Answers

Answer: The answer is given below

Explanation:

• What are some of the key environmental forces that have changed the way projects are managed?

Some environmental forces which have

altered the way that projects are managed are the knowledge growth, product life cycle, technological changes, global competition, organization downsizing, and time to market.

• What has been the effect of these forces on the management of projects?

The effect of these forces on the management projects is that it resulted in more projects for every organization, it also resulted in changing structures of organization, accountability, the need for rapid completion of projects, the linking of projects to the strategies of the organization and the alliance with the external organizations.

• Why is the implementation of projects important to strategic planning and the project manager?

Strategic plans are typically implemented through projects. This could be through a new information system, a new product, or new plant for new product. It should be noted that the project manager is responsible for the timely completion of the project within the budget, and also within specifications in order for the customers to be satisfied. In cases whereby the project is not being linked to a organization's strategic plan, the resources that are being devoted to the project will result into wastage.

• What is meant by an integrative approach to project management? Why is this approach important in today?

An integrative approach to project management simply refers to one whereby there are interrelationships between all the parts. It should be noted that the approach is vital as an organization that utilizes it has a competitive edge and also provides an integrated system that is required for project implementation.

Sadar Company operates a store with two departments: videos and music. Information about those departments follows. Videos Departmen Music Department Sales .. $370,500 279500Cost of goods sold 320000 175000 Direct expenses Salaries 35,000 25000Maintenance. 12000 10000Utilities 5000 4500 Insurance 4200 3700The company also incurred the following indirect costs Advertising 15000Salaries 27000 Office expenses 3,200 Indirect costs are allocated as follows: advertising on the basis of sales; salaries on the basis of number of employees; and office expenses on the basis of square footage. Additional information about the departments follows. Department Square footage Number of employees Videos 5,000 3 Music 3,000 2Required 1. For each department, determine the departmental contribution to overhead and the departmental net income. 2. Should the video department be eliminated?

Answers

Answer:

Sadar Company

1. Departmental Contribution and Net Income:

                  Videos Department      Music Department

Sales                      $370,500            279,500

Cost of goods sold 320,000             175,000

Contribution          $ 50,500             104,500

Direct expenses:

Salaries                     35,000               25,000

Maintenance             12,000                10,000

Utilities                        5,000                 4,500

Insurance                    4,200                 3,700

Indirect expenses:

Advertising                 8,550                 6,450

Salaries                     16,200                10,400

Office expenses        2,000                  1,200

Total expenses:    $82,950                61,250

Net Income (Loss)  $(133,450)           43,250

2. Video Department should be eliminated from the profit point of view.  Its indirect costs of $26,750 can be absorbed by the Music Department.

Explanation:

a) Data and Calculations:

                  Videos Department      Music Department

Sales                     $370,500            279500

Cost of goods sold 320000             175000

Direct expenses:

Salaries                    35,000              25000

Maintenance             12000               10000

Utilities                        5000                4500

Insurance                    4200                3700

Indirect expenses:

Advertising                 8,550              6,450

Salaries                     16,200             10,400

Office expenses        2,000               1,200

Indirect Costs:

Advertising         15000        Sales

Salaries              27000        Number of employees

Office expenses 3,200        Square footage

Department       Square footage     Number of employees

Videos                  5,000                        3

Music                    3,000                        2

Indirect Costs Allocation:

                                          Videos Department      Music Department

Sales                                             $370,500                279,500

Advertising         15000                      8,550                    6,450

Sales                            

Salaries              27000                     16,200                  10,400

Number of employees

Office expenses 3,200                      2,000                    1,200

Square footage

A(n) _____ refers to a product or service, such as a report, a training session, a piece of hardware, or a segment of software code, produced or provided as part of a project.

Answers

A << DELIVERABLE >>refers to a product or service, such as a report, a training session, a piece of hardware, or a segment of software code, produced or provided as part of a project.



when rival firms compete aggressively by trying to attract competitors' customers, this might be an indication of:

Answers

Answer:

Slow industry growth

Explanation:

Slow industry growth is the growth that shows the industry at a slow rate or no growth is there.

It could arise when the consumer does not opt for a high demand

In the given situation, it is mentioned that when competitive firms aggressively trying to attract the customers of competitors so this is an indication of the slow economic growth and hence, the same is to be considered

External processes targeted in competing on analytics consist of:____.A. Human Resource Management.B. Customer Relationship Management (CRM).C. Enterprise Performance Management.D. Supply Chain Management (SCM).

Answers

Answer:

B. Customer Relationship Management (CRM).

Explanation:

Customer relationship management refers to managing a relationship with the customer by providing them excellent products and servcies at reasonable cost in order to build a trust, provide them maximum satisfaction so that the company could able to generate maximum share in the market place. Also it should be more focused to attain competitive advantage

Therefore according to the given situation, the option B is correct

The chart compares transportation options. Option A to buy new has a monthly payment of 338 dollars for 60 months, up-front cost of 2,500 dollars, and 275 dollars a month for insurance and gas. Option B to lease new has a monthly payment of 229 dollars for 36 months, up-front cost of 3,925 dollars, and 275 dollars a month for insurance and gas. Option C to buy used has a monthly payment of 250 dollars for 36 months, up-front cost of 2,000 dollars, and 225 dollars per month for insurance and gas. What is a main disadvantage of leasing a vehicle compared to buying a vehicle? the up-front cost the monthly payments the length of payments the cost of insurance and gas

Answers

Answer:

Explanation:

The up- front cost

The main disadvantage of leasing a vehicle compared to buying a vehicle is A. the up-front cost.

What is an up-front cost?

An up-front cost is a down payment that is required to be made when making an asset purchase transaction.

The up-front cost is usually calculated using an agreed or fixed rate.

For example, a seller of a vehicle may demand an up-front or down payment of 10%.

The up-front cost or down payment reduces the outstanding loan.

Data and Calculations:

Options                           Monthly      Maturity    Up-front   Insurance    Total

                                      Payments      Period        Cost      and Gas     Costs

Option A to buy new        $338      60 months  $2,500       $275   $39,280

Option B to lease             $229      36 months  $3,925       $275   $22,069

Option C to buy used      $250      36 months  $2,000      $225     $19,100

Thus, the main disadvantage of leasing a vehicle compared to buying a vehicle is A. the up-front cost.

Learn more about up-front costs at https://brainly.com/question/6359071

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The unadjusted trial balance of the Manufacturing Equitable at December 31, 2011, the end of its fiscal year, included the following account balances. Manufacturing�s 2011 financial statements were issued on April 1, 2012.
Accounts receivable $ 92,500
Accounts payable 35,000
Bank notes payable 600,000
Mortgage note payable 1,200,000
Other information:
a. The bank notes, issued August 1, 2011, are due on July 31, 2012, and pay interest at a rate of 10%, payable at maturity.
b. The mortgage note is due on March 1, 2012. Interest at 9% has been paid up to December 31 (assume 9% is a realistic rate). Manufacturing intended at December 31, 2011, to refinance the note on its due date with a new 10-year mortgage note. In fact, on March 1, Manufacturing paid $250,000 in cash on the principal balance and refinanced the remaining $950,000.
c. Included in the accounts receivable balance at December 31, 2011, were two subsidiary accounts that had been overpaid and had credit balances totaling $18,000. The accounts were of two major customers who were expected to order more merchandise from Manufacturing and apply the overpayments to those future purchases.
d. On November 1, 2011, Manufacturing rented a portion of its factory to a tenant for $30,000 per year, payable in advance. The payment for the 12 months ended October 31, 2012, was received as required and was credited to rent revenue.
Required:
(1) Prepare any necessary adjusting journal entries at December 31, 2011, pertaining to each item of other information (a�d).
(2) Prepare the current and long-term liability sections of the December 31, 2011, balance sheet.

Answers

Answer:

1. A.

Dec 31

DR Interest Expense ...............................................$25,000

CR Interest Payable ..................................................................$25,000

(To record interest payable on bank notes for the year)

Working

= 10% * 600,000

= $60,000 per year

August to December 5 months

= 60,000/ 12 months * 5

= $25,000

B. No entry required. Payment of $250,000 shall be considered short term liability as it is to be paid in less than a year. The $950,000 shall be a long term liability.

C.

Dec 31,

DR Accounts Receivable...............................................$18,000

CR Advance from Customers.......................................................$18,000

D.

Dec 31,

DR Rent Revenue ............................................................$25,000

CR Rent received in advance.........................................................$25,000

Working

Rent is $30,000 from the tenant starting November 1 which means rent needs to be apportioned to 2 months in 2011.

= 30,000/12 moths * 2

= $5,000

Rent to be recorded as received in advance;

= 30,000 - 5,000

= $25,000

2.

..................................Liabilities as at December 31, 2011............................

Current Liabilities

Accounts Payable ......................................................$35,000

Current Portion of debt .............................................$250,000

Advance from Customers.........................................$18,000

Accrued Interest payable..........................................$25,000

Unearned rent revenue.............................................$25,000

Bank notes payable....................................................$600,000

Total................................................................................$953,000

Long Term Liabilities

Mortgage Note Payable ............................................$950,000

Total .................................................................................$950,000

You are asked to compose a job description for the position of director of sales at your company. This is a position you once held, so you are familiar with the requirements and qualifications. Before beginning to write, you look in the files for past descriptions and check with your supervisor about details to include. What research method did you use in this situation?

Answers

Answer: Informal research

Explanation:

Informal research are forms of research whereby information are collected in an informal way and not through sampling precision or statistical methods. It is a cost effective strategy methods.

In this scenario, since the person knows about the requirements for the position of director of sales at the company, the person is using an informal method by asking the supervisor about details to include.

for every decision you make, there is a trade off?

Answers

I’m confused about the question

Answer:

False

Explanation:

i took the test

Incomplete manufacturing costs, expenses, and selling data for two different cases are as follows.Incomplete manufacturing costs, expenses, and sellIncomplete manufacturing costs, expenses, and sell Collapse question part(a) Indicate the missing amount for each letter.Case 1 2Direct materials used $9,600 $Direct labor 5,000 8,000 Manufacturing overhead 8,000 4,000 Total manufacturing costs 16,000 Beginning work in process 1,000 inventoryEnding work in process inventory 3,000 Sales revenue 24,500 Sales discounts 2,500 1,400 Cost of goods manufactured 17,000 22,000 Beginning finished goods inventory 3,300 Goods available for sale 20,000 Cost of goods sold Ending finished goods inventory 3,400 2,500 Gross profit 7,000 Operating expenses 2,500 Net income 5,000b) Prepare a condensed cost of goods manaufactures schdule ffor Case1c1) Prepare an Income statement for Case 1c2) Prepare the current assets section of the balance sheet for Case1. Assume that in Case 1 the other items in the current assets section are as follows: Cash $4,000, Receivables (net) $15,000, Raw Materials $600 and Prepaid Expenses $400.

Answers

Answer:

a. Incomplete Manufacturing Costs:

                                                                  Case 1          Case 2

Direct materials used                              $9,600        $ 4,000

Direct labor                                                5,000            8,000

Manufacturing overhead                          8,000            4,000

Total manufacturing costs                     22,600          16,000

Beginning work in process inventory      1,000            9,000

Ending work in process inventory         6,600            3,000

Sales revenue                                        24,500         30,900

Sales discounts                                        2,500            1,400

Cost of goods manufactured                 17,000         22,000

Beginning finished goods inventory      3,000            3,000

Goods available for sale                       20,000         25,000

Cost of goods sold                                16,600         22,500

Ending finished goods in inventory       3,400            2,500

Gross profit                                             5,400            7,000

Operating expenses                              2,500            2,000

Net Income                                             2,900            5,000

b. Condensed cost of goods manufactured schedule for Case 1:

Direct materials used                $9,600

Direct labor                                  5,000

Manufacturing overhead            8,000

Total manufacturing costs       22,600

Beginning WIP inventory             1,000

Ending WIP inventory                 6,600

Cost of goods manufactured $17,000

c1. Income Statement for Case 1:

Sales Revenue, net         $22,000

Cost of goods sold             16,600

Gross profit                        $5,400

Operating expenses           2,500

Net income                      $2,900

c2. Current Assets Section of the Balance Sheet for Case 1:

Cash                                    $4,000

Receivables (net)                15,000

Inventory: Raw materials        600

                 WIP                     6,600

                 Finished Goods 3,400

Prepaid Expenses                  400

Total current assets      $30,000

Explanation:

Data for incomplete manufacturing costs, including the income statement can be prepared by working back and forth with the provided figures.  The missing figures are provided in bold font as above.

The following is a December 31, 2021, post-closing trial balance for Almway Corporation.

Answers

Answer:

TOTAL ASSETS $1,043,000

TOTAL LIABILITIES AND SHAREHOLDERS EQUITY $1,043,000

Explanation:

Preparation of a balance sheet for the Almway Corporation at December 31, 2021.

ALMWAY corporation

Balance sheet at December 31,2018

ASSETS

Current Assets

Cash and cash equivalent$47,000

($79,000-$32,000)

Short term investment $97,000

($144,000-$47,000)

Account receivable net of allowances $77,000

Inventories $217,000

Prepaid insurance $5,000

TOTAL CURRENT ASSETS $443,000

INVESTMENT

Marketable securities $47,000

Land held for sale $42,000

Restricted cash $32,000

TOTAL INVESTMENT $121,000

Plant property and equipment

Land $82,000

($124,000-$42,000)

Building $437,000

Accumulated deperation Building ($117,000)

Equipment $127,000

Accumulated deperation Equipment ($77,000)

NET PLANT PROPERTY AND EQUIPMENT $452,000

INTANGIBLE ASSETS

Patents ( net of amortization) $27,000

TOTAL ASSETS $1,043,000

LIABILITIES AND STOCKHOLDERS EQUITY

Current liabilities

Account payable $109,000

Interest payable $37,000

Note payable due in 6 months $47,000

Current maturity of long term debt notes payable $13,400

TOTAL CURRENT LIABILITY $206,400

LONG TERM LIABILITIES

Notes payable $120,600

($181,000-$47,000-$13,400)

Bond payable $257,000

TOTAL LONGTERM LIABILITIES $377,600

SHAREHOLDER EQUITY

Authorised 500,000 shares

Issued and outstanding shares $351,000

Retained earnings $108,000

Total shareholders equity $459,000

TOTAL LIABILITIES AND SHAREHOLDERS EQUITY $1,043,000

________ can be categorized as popularity, relevancy, and user satisfaction. a. Mobile search SEO b. Ranking factors c. SERP d. Web analytics

Answers

Answer:

b. Ranking factors

Explanation:

Ranking factors are used to try to rank or determine which websites are better in certain fields or factors. E.g. which sites rank in top on mobile friendliness. It is just a way to classify websites or apps and categorize them. Another e.g., which apps rank in top in user experience. Companies can use these ranking factors and their results as benchmarks on what they can do to improve.

The assets and liabilities of Amos Moving Services at March 31, 2011, the end of the current year, and its revenue and expenses for the year are listed below. The capital of the owner was $180,000 at April 1, 2010, the beginning of the current year. Mr. Amos invested an additional $25,000 in the business during the year. Accounts Payable $1,200 Miscellaneous Expense $230 Accounts Receivable $10,340 Office Expense $1,240 Cash $32,320 Supplies $1,670 Fees Earned $84,350 Wages Expense $23,550 Land $47,000 Amos, Drawing $16,570 Building $155,960Prepare an income statement for the current year ended May 31, 2011.Fees Earned credit 84350Expenses: ? ? ?Total Expenses ?net income or net loss ??

Answers

Answer:

Income statement for the year ended May 31, 2011

Fees Earned                                                  $84,350

Less Expenses :

Miscellaneous Expense               $230

Office Expense                           $1,240

Wages Expense                      $23,550      ($25,020)

Net Income / (Loss)                                       $59,330

Explanation:

The Income Statement shows the results from entity`s operating activities during the period. Profit or Loss = Revenue less Expenses.

Consider the borrowing rates for Parties A and B. A wants to finance a $100,000,000 project at a FIXED rate. B wants to finance a $100,000,000 project at a FLOATING rate. Both firms want the same maturity, 5 years.
Fim Fixed Rate Floating
A $10.3% Prime + 1%
B $8.900 Prime +4%
Construct a mutually beneficial INTEREST ONLY swap that makes money for A, B, and the swap bank IN EQUAL MEASURE.

Answers

Answer:

party A will pay floating rate while party B will pay fixed rate

Explanation:

For A

Sources at floating rate = prime 1%

received fixed rate = 8.9%

For B

sources fixed rate = 8.9%

Received floating rate = prime 1%

For a mutually beneficial interest only swap that makes money for A,Band the swap bank in equal measure, the party A will pay floating rate while party B will pay fixed rate

An independent movie producer with a modest but loyal fan base is short of funds for her next movie. Knowing that a bank loan is an unrealistic option, she is considering crowdfunding. But she is not very familiar with it or how to go about starting and conducting a crowdfunding campaign.
Prepare a report for the producer explaining the different approaches to crowdfunding, including the equity funding approach. Alert the producer to any drawbacks that might make people less willing to contribute to funding her movie and positives that might make people more likely to fund her movie. Conclude your report with a recommendation of which crowdfunding approach you believe would be most effective for this independent movie producer.

Answers

Answer:

Crowd funding is a strategy to raise small money from a large number of people. This is mainly suitable when large funding is required for a project.

Explanation:

The filmmaker is planning to make a short web series which will be available online for the viewers. The producers might hesitate to finance such small short movie as they will be unsure whether the movie will be able to make money. There can be crowd funding option considered for raising finance for the movie. These small creators and new filmmakers should be supported as they can have better ideas than the rich filmmakers. Crowd funding will be able to raise money and people will pay for the content they want to watch. The movie will create curiosity in the audience before its release and there are high chances that this small content can be a big hit.

An analysis of the accounts of Roberts Company reveals the following manufacturing cost data for the month ended June 30, 2017 Inventory Beginning Ending Raw materials $9,180 $17,480Work in process 5,670 7,610 Finished goods 9,300 6,430Costs incurred: raw materials purchases $55,020, direct labor $51,740, manufacturing overhead $23,300. The specific overhead costs were: indirect labor $6,510, factory insurance $4,700, machinery depreciation $4,380, machinery repairs $1,990, factory utilities $3,740, and miscellaneous factory costs $1,980. Assume that all raw materials used were direct materials. Prepare the cost of goods manufactured schedule for the month ended June 30, 2017

Answers

Answer:

Cost of goods manufactured schedule for the month ended June 30, 2017

Raw Materials                                                 $46,720

Direct Labor                                                     $51,740

Manufacturing Overhead :

Indirect labor                                                     $6,510

Factory insurance                                            $4,700

Machinery depreciation                                  $4,380

Machinery repairs                                             $1,990

Factory utilities                                                 $3,740

Miscellaneous factory costs                            $1,980

Add Opening Work in process Inventory      $5,670

Less Closing Work in process Inventory       ($7,610)

Cost of goods manufactured                       $119,820

Explanation:

Cost of goods manufactured schedule is a summary of manufacturing costs for the production period.

Determination of Raw Materials In Production

Raw Materials T - Account

Debit :

Opening Balance                                     $9,180

Purchases                                              $55,020

Totals                                                     $64,200

Credit :

Work In Process (Balancing figure)       $46,720

Closing Balance                                      $17,480

Totals                                                      $64,200

Payments made on a fixed annuity contract are withdrawn from the:_______

Answers

Answer:

insurance company general account

Explanation:

The insurance company general account is simply referred to as the account in which all the funds aside those exclusively defined to be separated, are deposited for the customary operation ( that is, to pay claims and benefits) of the insurance firm.

For example, funds such as premiums for life insurance, fixed annuities, assets in the fixed portfolios of variable annuities.

Hence, Payments made on a fixed annuity contract are withdrawn from the: Insurance company general account

The prepaid insurance account had a balance of $11,700 at the beginning of the year. The account was increased for $7,800 for premiums on policies purchased during the year. What is the adjustment required at the end of the year for each of the following independent situations? For each account affected, indicate whether the account is increased or decreased, and the amount of the increase or decrease. a. The amount of unexpired insurance applicable to future periods is $11,000.

Answers

Answer:

a) The adjustments required at the end of the year for the transaction are:

Debit to Insurance Expense for $8,500 and Credit to Prepaid Insurance for $8,500.

b) For this transaction, the Prepaid Insurance account is decreased by $8,500 while the Insurance Expense is increased by $8,500.

Explanation:

a) Data and Calculations:

Prepaid Insurance    $11,700

Cash account              7,800

less Prepaid, ending  11,000

Insurance Expense  $8,500

If Bethany Lewis receives a check payable to the order of Bethanie Louis, she:______.

Answers

The available options are:

a. can indorse the check either "Bethany Lewis" or "Bethanie Louis."

b. will need to ask the drawer to send her a new check.

c. will not be able to cash the check.

d. must use a restrictive indorsement to cash the check.

Answer:

a. can indorse the check either "Bethany Lewis" or "Bethanie Louis."

Explanation:

When it comes to financial related matters, most specifically, on the issue of cheque, Indorsement is a financial related term that describes a legal signature, (often signed at the back of a cheque), which serves as a form of approval, to ensure the cheque is payable to individual aside the designated payee.

Hence, in this case, Bethany Lewis can indorse the check either "Bethany Lewis" or "Bethanie Louis."

Answer:

idek

Explanation:

lmbo

The following information is for S&P Enterprises for the month of July: Direct materials $76,000 Direct labor $40,000 Variable manufacturing overhead $25,000 Fixed manufacturing overhead $30,000 Variable selling expense $12,000 Fixed selling expense $15,000 Variable administrative expense $6,000 Fixed administrative expense $18,000 Total conversion cost for the month of July was:_______________.

Answers

Answer:

Conversion costs= $95,000

Explanation:

Giving the following information:

Direct labor $40,000

Variable manufacturing overhead $25,000

Fixed manufacturing overhead $30,000

The conversion costs are the sum of direct labor and total manufacturing overhead.

Conversion costs= 40,000 + (25,000 + 30,000)

Conversion costs= $95,000

True or false: Managerial accounting provides information to internal managers who make decisions about a company's business activities.

Answers

Answer:True

Explanation:

Robinson Co. had the following transactions in 2016, its first year of operations.
Cash sales were $150,000.
Credit sales were $160,000. Of this, $125,000 was collected from customers in 2006 and the balance will be collected in 2007.
Paid utilities expense of $32,000 in cash.
Purchased materials and supplies costing $75,000 with cash. $25,000 of materials and supplies remained on hand at December 31.
Purchased equipment on January 1 for $50,000. The equipment had a five year estimated useful life and zero salvage value. It is depreciated on a straight-line basis.
Paid $65,000 in employee wages for work performed in 2006. Owed additional wages of $12,000 at December 31.
Purchased a two-year fire insurance policy for $36,000 cash on January 1.
Declared and paid a dividend of $5,000.
Calculate income on a cash-basis and an accrual basis.

Answers

Answer:

Income Statement (cash basis)

Sales revenue $275,000

Utilities ($32,000)

Materials and supplies ($75,000)

Equipment ($50,000)

Wages ($65,000)

Insurance ($36,000)

Net income = $17,000

Income Statement (accrual basis)

Sales revenue $310,000

Utilities ($32,000)

Materials and supplies ($50,000)

Depreciation expense: equipment ($10,000)

Wages ($77,000)

Insurance ($18,000)

Net income = $123,000

What is the most important component in planning a special event as a way to both advocate for your programs and raise funds?
a. risk management
b. strong leadership
c. signage
d. hospitality

Answers

I think the answer is Strong leadership, because you can’t have a good event without the right evader
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