Business Operating expenses are recorded in: Trading Account Profit and Loss Account Balance Sheet All of the above
Q: Data that are routinely collected byaccounting, marketing and operations functions of a business are…
A: A business function is defined as a set of activities performed by the department. The operation is…
Q: When calculating the expenses to run a business there are things that can’t be changed called…
A: In business, there are such things that remain fixed or contant throughout the whole operations of…
Q: Your task is to ensure that the supplies in the office are used for their appropriate purposes. One…
A: It is more often than we would like to believe that corporate resources are used for personal gain.…
Q: May and Ray have spent years repairing Volkswagens, and have become very knowledgeable in Volkswagen…
A: In the given scenario, it is evident to say that both May and Ray are highly experienced in…
Q: The term management accounting is applied to the provision of accounting information for management…
A: The word management accounting is functional to the provision of accountancy information for…
Q: When managers glean information from their company's accounting and sales records stored in the…
A: Business data is the set of information that helps the company to plan and operate the business.
Q: When planning a trip, the rental of a vehicle is an important decision. You have investigated…
A: Given Information: The amount charged by Running on rental company = $ 40 per day The amount charged…
Q: If the company's debt ratio is 1/3, what will it be its debt-to-equity ratio
A: Given, Debt ratio = 1/3 Debt ratio = total liabilities/total assets Then, Total liability = 1 Total…
Q: what are the major requirements for the job the financial analyst, build a vacancy for it.
A: FINANCIAL ANALYST Financial analysts guide businesses and individuals in decisions about expending…
Q: On any given date, is the money spent equal to, less than, or greater than the budgeted amount?
A: A budget is an amount that is planned or estimated money needed for the cost of living or used for…
Q: Rainbow Services Co. offers its services to individuals desiring to improve their personal images.…
A: Journalizing the entries below
Q: When revenue equals expenses, the result is : No profit no loss Zero cash balance Loss Profit
A: Revenue is that the total amount of income generated by the sale of products or services associated…
Q: Richard has been a highly regarded employee of the Brier Corporation for almost 20 years. Her…
A: 1) Richard's dedication to her job from which she has not taken a vacation in many years is a red…
Q: Balance Sheet is a statement of: Assets Capital Liabilities All of the above
A: All of the above
Q: Create a spreadsheet to calculate your projected total costs, total revenues, and total profits…
A: Charges per person: $600 Rent: $500 Registration cost: $400 Postcard designing cost: $300…
Q: Jayla wants to open her own business making cakes. She has $10,000 of her own money and receives…
A: The financial resources used by an organization in order to fund for its day to day operations is…
Q: What are the equivalent units of production for the conversion costs during the period? 17,100.…
A: Given data: Opening Inventory: 5000 units out of which 100% complete as to material cost and 30%…
Q: Webber Limited plans to maintain cash balance of $8000. The variance of its daily cash flow to date…
A: Given information - Maintain cash balance = $8000 Variance of daily cash flow to date= $4,000,000…
Q: If 2500 dollars invested in a bank account for 7 years, compounded quarterly, amounts to 3539.98…
A: A=3539.98 P=2500 n=7 YEARS R=?
Q: The primary goal of financial management is Select one: O a. Increasing profit O b. Reducing risk O…
A: Financial Management is one of the areas of account which manages the administration of the…
Q: The basic idea of a business that explains which customer needs will be met, how the functions and…
A: It is totally true that the basic idea of a business is that explains as to how the customer needs…
Q: If a firm shows a net accounting income then it will not have a cash flow isue not have problem…
A: Accounting income is the income derived after the deduction of all the expenses from the sales…
Q: What would be the purpose for a cashier’s well (pit or bucket) in a hotel that has no property…
A: The management of the company is responsible for implementing the decisions made by the top…
Q: The objective of the aggregate operations plan is to ensure that the marketing and sales plans are…
A: The target of the total tasks plan is to limit the expense of assets needed to fulfill need over…
Q: When a company receives a total income of 75000 OMR, this is considered as________. a. Sales b.…
A: ANSWER IS AS BELOW:
Q: When calculating a budget why a risk reserve, a simulation or estimation is performed. Provide…
A: Budget: It is an assessment related to the revenue and expenses for a specified period. Budget can…
Q: The check book balance of ccc Company on December 31,2020 was P4,000,000. Data about certain cash…
A: Cash Balance: - The measure of cash in a record. It is determined by adding the underlying store to…
Q: hinking tools service assembles customized personal computers from generic parts. Formed and…
A: Following are the calculations: Formulas used:
Q: Some of the cash flow elements are estimated in constant dollars, and othersare estimated in actual…
A: The answer is True.
Q: a. Assuming that all clocks produced are sold, develop a spreadsheet model for estimating the profit…
A: THE ANSWER IS AS BELOW:
Q: Cash flow Statement Cash Flow Statement for the first Years
A: Cash flow is the transactions in and out of account.
Q: These systems record day to day activities like customer orders,bills,inventory levels a. Decision…
A: There are various businesses that are run by organizations these days. However, there are certain…
Q: Which Quantitative Method could be most applicable in the following business operations:…
A: Quantitative methods focus on objective measurements and the statistical, mathematical, or numerical…
Q: Cash flow Statement Cash Flow Statement for the first Year
A: The Statement of Cash Flows (also known as the cash flow statement).
Q: Suppose you are one of the senior employees in Master Bank. Mr Khalid Recently joined as a junior…
A: Commercial banks are one of the financial institutions' categories. It is a for-profit financial…
Q: Carrefour wants to give its stockholders a summary of its operations for the past calendar year.…
A: The stakeholders are the parties that have a direct or indirect interest in the performance and…
Q: A business cycle consists of four states: peak,recession, trough, and recovery.
A: Business cycle shows different phases of a business from rapid growth to decline stage and shows the…
Q: credit card bill due on April 5 showed a balance of 263 dollars. The card holder forgot to pay the…
A: Average Daily Balance is a method in accounting used to calculate the finance charges expense by the…
Q: s can happen because cash flow and earnings potential, both commonly known as cows and dogs,…
A: Definition: cash Cow is during all|one amongst|one in every of} the four training beneath neath the…
Q: Assume that you're about to make a start-up a logistic company that provides lorry rental services.…
A: The key employee and organizations for my company are discussed as follows-
Q: The Total Cost and Expenses is calculated by – a. adding cost and expenses b. subtracting expenses…
A: Each company wants to study their expenses and revenue amount so that they can control upon the…
Q: What refers to the ratio of the interest payment to the principal for a given unit of time and…
A: The one which expresses as % of the principal is:
Q: An establishment for the custody loan exchange and issue of money is known as: a. Account b. Finance…
A: An establishment for the custody loan exchange and issue of money is known as:
Q: You are an audit senior of Sam & Partners and are in the process of reviewing the systems testing…
A: Internal control: Internal Control are procedures that ensure smooth operations, encourage and…
Business Operating expenses are recorded in:
- Trading Account
Profit and Loss Account- Balance Sheet
- All of the above
Step by step
Solved in 2 steps
- Beckham Broadcasting Company (BBC) has operating income (EBIT) of $2,500,000.The company’s depreciation expense is $500,000 and it has no amortization expense. The company is 100 percent equity financed (that is, its interest expense is zero). The company has a 40 percent tax rate, and its net investment in operating capital is $1,000,000.a. What is BBC’s net income?b. What is BBC’s net operating profit after taxes (NOPAT)?c. What is BBC’s free cash flow?Petal Providers Corporation, described in Problem 1, is interested in estimating its additional financing needs to support a rapid increase in sales next year. Last year revenues were $1 million, the net profit was $50,000, the investment in assets was $750,000, payables and accruals were $100,000, and equity at the end of the year was $450,000. The venture did not pay out any dividends and does not expect to pay dividends for the foreseeable future. A. What would be your estimate of the additional funds needed next year to support a 30 percent increase in sales? B. How would your answer in Part A change if the expected sales growth were only 15 percent?Capital Budgeting with Taxes (Non-MACRS Depreciation); Sensitivity Analysis GravinaCompany is planning to spend $6,000 for a machine that it will depreciate on a straight-line basisover 10 years with no salvage value. The machine will generate additional cash revenues of $1,200 ayear. Gravina will incur no additional costs except for depreciation. Its income tax rate is 35%. Thepresent value annuity factor for 15%, 10 years (from Appendix C, Table 2) is 5.019.Required1. What is the payback period of the proposed investment (in years, and rounded to 1 decimal place) underthe assumption that the cash inflows occur evenly throughout the year?2. What is the accounting (book) rate of return (ARR) based on the initial investment outlay? Round youranswer to 1 decimal place (e.g., 13.571% = 13.6%).
- Advantages of preparing cash budget would not include one of the following: a. Debtors of the business can be allowed more time to make payment b. If shortage of cash is expected, overdraft facility can be arranged c. Surplus cash can be put to profitable uses if surplus is expected to occur d. Time is available to identify the future sources of finance ------fast plzRuth Company currently has $1,000,000 in accounts receivable. Its days sales outstanding (DSO) is 50days. The company wants to reduce its DSO to the industry average of 32 days by pressuring more ofits customers to pay their bills on time. The company’s CFO estimates that if this policy is adopted thecompany’s average sales will fall by 10 percent. Assuming that the company adopts this change andsucceeds in reducing its DSO to 32 days and does lose 10 percent of its sales, what will be the level ofaccounts receivable following the change? Assume a 365-day year.On December 31, 2019, the unadjusted trial balance of Tarzwell Services showed the following balances: Accounts receivable Allowance for doubtful accounts Sales $200,000 1,000 Cr. 700,000 The business has given up trying to collect $5,000 of its accounts receivable but has not yet recorded the write-off entry. The firm uses the allowance method to estimate bad-debt expense. Required a) Provide the entry for the write-off. b) If the firm uses the percent-of-sales allowance method for recording bad-debt expense, and has experienced an average 6% rate of non-collection based on sales, provide the entry to record bad-debt expense for 2019. c) Assume that after the firm recorded the $5,000 of write-offs, it determined that 18% of its remaining accounts receivable will be uncollectible under the aging method. Provide the entry to record bad-debt expense. Don't give answer in image format
- Rainbow Services Co. offers its services to individuals desiring to improve their personal images. After the accounts have been adjusted at August 31, the end of the fiscal year, the following balances were taken from the ledger of Rainbow Services: Retained Earnings $882,000 Dividends 16,400 Fees Earned 521,700 Wages Expense 475,600 Rent Expense 66,500 Supplies Expense 12,000 Miscellaneous Expense 13,250 Journalize the four entries required to close the accounts. Refer to the Chart of Accounts for exact wording of account titles. CHART OF ACCOUNTS Rainbow Services Co. General Ledger ASSETS 11 Cash 12 Accounts Receivable 13 Prepaid Rent 14 Supplies LIABILITIES 21 Accounts Payable 22 Wages Payable 23 Unearned Fees EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends 34 Income Summary REVENUE 41 Fees Earned EXPENSES 51 Wages Expense 52 Rent Expense 53 Supplies…"MacGyver Corporation manufactures a product called Miracle Goo, which comes in handy for just about anything. The thick tarry substance is sold in six-gallon drums. Two raw materials are used; these are referred to by people in the business as A and B. Two types of labor are required also. These are mixers (labor class I) and packers (labor class II). You were recently hired by the company president, Pete Thorn, to be the controller. You soon learned that MacGyver uses a standard-costing system. Vari-ances are computed and closed into Cost of Goods Sold monthly. After your first month on the job, you gathered the necessary data to compute the month’s variances for direct material and direct labor. You finished everything up by 5:00 p.m. on the 31st, including the credit to Cost of Goods Sold for the sum of the variances. You decided to take all your notes home to review them prior to your formal presenta-tion to Thorn first thing in the morning. As an afterthought, you…Based on these items, what is the total of the (a) liquid assets and (b) current liabilities? Checking account balance $ 935 Savings account balance $ 3,425 Retirement account balance 58,500 Current student loan payment due 370 Credit card balance 192 Investment account balance 9,500 Rare jewelry 600 Mortgage 185,500
- Cash flow; classify the following in the perspective of a business/individual owner. cash in flow cash out flow 1. permits 2.retail sales 3.rents 4.business loan 5.fare 6.water bill 7.salary 8.taxes 9.own professional fee 10.electric billUse the following financial statements of Heifer Sports Inc. in Table 14.14 to find Heifer’s:a) Inventory turnover ratio in 2012.b) Debt/equity ratio in 2012.c) Cash flow from operating activities in 2012.d) Average collection period.e) Fixed-asset turnover ratio.f) Return on equity.Webber Limited plans to maintain cash balance of $8000. The variance of its daily cash flow to date is $4,000,000. The cost to buy or sell the firm’s security is approximately $50. The daily interest is 0.025%. Calculate: The lower limit The spread The upper limit The return point