In a case whereby Luis, a professional chef, has carefully developed a set of product attributes for his new line of seasoning mixes, such as the brand name, features/design, and quality level, Luis is developing the actual product.
What is an actual product ?
The actual product can be described as the possesses that involves the physical appearance as well as the packaging, of products that is been done on the consumers.
It should be noted that in the case above we can see that developed a set of product attributes for his new line using the method.
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grocery giant, a chain of regional grocery stores, use fifo for perishable goods but lifo for paper goods. the concept is being followed as long as the company uses these methods from year to year for each inventory type.
Grocery Giant, a chain of regional grocery stores, uses FIFO for perishable goods but LIFO for paper goods. The Consistency principle is being followed as long as the company uses these methods from year to year for each inventory type.
This is further explained below.
What is Consistency?Generally, A consistent theory is a hypothesis that does not result in a logical contradiction, according to the traditional, deductive form of logic. Either semantic or syntactic analysis may be used to provide a definition of the absence of contradiction.
In conclusion, First in, first out is a technique for arranging the manipulation of a data structure that is used in computing and systems theory.
This approach ensures that the entry with the longest wait time, often known as the "head" of the queue, gets processed first. FIFO is an abbreviation for "first in, first out."
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Grocery Giant, a chain of regional grocery stores, uses FIFO for perishable goods but LIFO for paper goods. The ________ principle is being followed as long as the company uses these methods from year to year for each inventory type.
dry cleaners has determined the following about its costs: total variable expenses are , total fixed expenses are and the sales revenue needed to break even is . determine the company's current 1) sales revenue and 2) operating income. (hint: first, find the contribution margin ratio; then prepare the contribution margin income statement.)
Assuming that the entire variable expenses are $37,500 and the total fixed expenses are $33,000, the contribution margin ratio is 0.75. Next, generate the contribution margin income statement.
Contribution margin: The contribution margin ratio is the amount which is derived from sales revenues after deducting the income statement variable expenses. This amount contributes toward covering fixed expenses and then toward profits for the period. The contribution margin ratio is computed in following manner:
Contribution Margin ratio=Contribution margin/salesx100.
Net income: Net income is the income after the deducting all the expenses from the gross income. It is also termed as net profit or net earning.
Computation of the contribution margin ratio:
Breakeven sales= Fixed expenses/Contribution margin ratio.
$44,000 = $33,000/Contribution margin ratio.
Contribution margin ratio =$33,000/$44,000
Contribution margin ratio =0.75.
Operating income $ 79,500
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The complete question is
Dry Cleaners has determined the following about its costs: Total variable expenses are $37,500, total fixed expenses are $$33,000, and the sales revenue needed to break even is $ 44 comma 000$44,000. Determine the company's current 1) sales revenue and2) operating income. (Hint: First, find the contribution marginratio; then prepare the contribution margin income statement.)
consumption is $350, economic investment is $200, government purchases are $180, and overall gdp calculated via the expenditure method is $700, then how much is net exports for this economy? (be sure to enter a negative sign if the amount is negative.)
The net exports of the economy will be -30, which indicate that import is more than export, means there is trade deficit.
Net Exports = GDP-private consumption - economic investment- government spending -
Given,
Private consumption= $350
economic investment= $200
government spending = 180
GDP = $700
Net Exports = $700-$350- $200-$180
Net exports = -30
The value of net exports is calculated simply by subtracting the value of imports from export, the negative net exports indicate trade deficit, which is not good for an economy, whereas positive net exports indicate trade surplus which is good for the health of an economy.
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lenore, incorporated gathered the following information from its accounting records and the october bank statement to prepare the october bank reconciliation: ending cash balance per books, 10/31 $ 4,400 deposits in transit 330 interest received from bank 1,300 bank service charge for check printing 120 outstanding checks 2,900 nsf check of t. owens 220 the up-to-date ending cash balance on october 31 is:
If the ending cash balance per books, 10/31 $ 4,400 deposits in transit 330 interest received from bank 1,300 bank service charge for check printing 120 outstanding checks 2,900 nsf check of t. owens 220 the up-to-date ending cash balance on october 31 is: $5,360
Ending cash balanceUsing this formula to determine or find the up to date ending cash balance
Up-to-date ending cash balance = Ending cash balance per books + Interest received from the bank − Bank service charge − NSF check of T. Owens
Where:
Ending cash balance per books, 10/31 = $ 4,400
Interest received from bank = $ 1,300
Bank service charge for check printing = $ 120
Nsf check of t. owens = $220
Let plug in the formula
Up-to-date ending cash balance = $4,400 + $1,300 − $120 − $220
Up-to-date ending cash balance = $5,360
Therefore the up-to-date ending cash balance is the amount of $5,360
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being part of a cartel is generally good for a firm because it can reduce output while increasing prices and profits. yet most cartels have failed. why is this the case? group of answer choices cartels lack a dominant strategy. each member of the cartel faces an incentive to cheat and produce more, while all of the other members honor the agreement. as the cartel becomes more profitable, competition increases. cartel members dislike having to equally share profits.
Being part of a carte is said to be profitable for a firm since it can maximize profit and increase prices while reducing output simultaneously yet most of the cartels have failed. This is because each member of the cartel faces an incentive to cheat and produce more, while all of the other members honor the agreement.
The trouble is that cartel members might be tempted to cheat on their agreement to restrict production. Through generating greater output than it has agreed to supply, a cartel member can boom its proportion of the cartel's profits. Subsequently, there may be a built‐in incentive for each cartel member to cheat.
Whilst the cartel correctly increases the rate, firms inside the enterprise have the incentive to cheat. If a single firm increases output to 30 units while the rest of the corporations are producing 20 gadgets, the single company will earn large earnings.
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capabilities that lead to competitive advantage must be group of answer choices valuable, rare, and hard to copy. fairly substitutable. valuable, rare, and easy to copy. none of the above
Capabilities that lead to competitive advantage must be Valuable, rare, and hard to copy.
A competitive advantage can be described as a benefit that you have over your rivals because of a unique quality that you posses and your rivals lack.
In the field of business, having a competitive edge can be extremely beneficial. However, a competitive edge should be valuable and effective in your production outgrowth. It should also be hard to copy so that others cannot make it in a small time frame and give you competition over it. It should also be rare so opponents cannot find it.
A competitive edge should have the ability to provide benefits for you that otherwise would not have been possible.
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juanita has been a customer of central bank for over ten years. over time, her account at the bank has flourished and she is considered one of the bank's best customers. when she decides to start her own business, she goes to central bank for a short-term loan. which kind of interest rate would central bank most likely charge juanita for this loan?
Juanita has used the services of the central bank for more than ten years. She eventually decides to launch her own firm and visits the central bank for a short-term loan at the prime rate.
The prime rate is the interest rate that commercial banks impose on their most creditworthy corporate clients.The federal funds rate is the foundation for the prime rate.The prime rate is often calculated by banks using the fed funds rate plus 3.Mortgage, small company, and personal loan rates are all based on the prime rate.Lenders often charge the prime rate to the most creditworthy customers, while others are given an interest rate depending on their credit score plus an additional percentage.The daily prime rate published by The Wall Street Journal is the most popular prime rate.To know more about Prime rate, here
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a purchasing agent directing her company’s orders to a firm from which she received a valuable gift, is an example of: multiple choice egotism. conflict of interest. ethical relativism. moral development.
A purchasing agent shifting the company's orders to another company which offered the agent a highly valuable gift is Conflict of interest.
The rationale behind this is that if a person starts prioritising their personal interests over those of the business, they are acting in their own self-interest and this is not appropriate business behaviour.
A professional always puts the needs of the profession before his own interests and acts accordingly. As a result of the conflict between her own interests and those of the company, the purchasing agent in this case is acting in her own personal interest.
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when writing to the other contractors, what could you include in your closing that would explain the bad news in a sensitive manner? check all that apply. a canned ending a review of the bad news a forward look an expression of good wishes
When writing to the other contractors, including A forward look, and An expression of good wishes in closing would help to reduce negative feelings.
An expression of good wishes creates a positive image, and A forward look shows interest in nurturing unborn relations. These expressions are affable, and joyful, and show interest in a long establishment of relationship. ending the communication with a canned ending, or a review of the bad news will put the wrong print and severe impact on the relations. Inferred turndown is used for not directly conveying bad news to the receiver. inferred turndown covers the bad news in a manner that its negative impact on the anthology gets reduced. inferred turndown is a suggested or circular way to deliver bad news. It's used to downplay the effect of bad news.
Whereas one should noway deliver bad news at the opening letter and use a morning that encourages further reading. In this script, Hubert conveys the bad news using inferred turndown as workers have to do overtime to achieve the company's target.
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Minimum wage in America should remain at its current level. Do you agree with this statement? Why or why not?
the green river furniture company has a group comprised of the managers of the sales, warehousing, manufacturing, and shipping departments. it has a group manager and is not included in the company's organization chart. this type of group is known as a .
it has a group manager and is not included in the company's organization chart. this type of group is known as an Affinity group.
An association is a group of people who work together, like a neighborhood association, a charity, a union, or a pot. You can use the word association to relate to a group or business, or to the act of forming or establishing something.
Organizational and organizational are both English terms. In the United States, there's a preference for" organizational" over" organizational". In the United Kingdom, there's a 71 to 29 preference for" organizational" over" organizational". organizational adjective( before noun)( RELATING TO PLANNING) relating to the planning of exertion or event She's looking for a particular adjunct with good organizational chops. A lot of what he does is organizational; he handles all the meetings.
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lot size is measured in square feet. do you think that measuring lot size in thousands of square feet might be more appropriate? a. yes, because small differences in square footage between two houses is not likely to have a significant effect on differences in house prices. b. yes, because changing the units in which lot size is measured will likely make the estimated coefficient more significant. c. no, because small differences in square footage between two houses likely have a significant effect on differences in house prices. d. no, because changing the units in which lot size is measured will likely render the estimated coefficient insignificant.
Yes, as modest variations in a pair of homes' square footage are unlikely to have a Significant effect on price disparities between the homes. That using square feet per lot instead of thousands could be more acceptable.
Significant effect or "significant impact" refers to the total of effects on the environment, including those that permanently deplete a natural resource, limit the variety of environmentally beneficial uses, variations violate the state's environmental policies or long-term environmental goals and guidelines established by law, or variations negatively impact the economic well-being, social well-being, or cultural traditions of the community and the state.
The computed coefficient's Significant effect won't change as a result of altering the measurement unit, and option B won't work either because the size differences between two houses will remain the same whether they are measured in square feet or thousand square feet. With regard to the joint test:
H0: beta1= beta2=0 is a null hypothesis.
Alternative Hypothesis: Not H0; however, in the event of independent tests:
H0: beta1 equals zero.
H0: beta1 neq 0 is a different hypothesis.
H0: beta2=0 is a null hypothesis.
H0: beta2 neq0 is a different hypothesis.
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the narrowest definition of money excludes: * 10 points a. currency in the vault at the bank. b. traveler's checks. c. currency in circulation. d. checkable bank deposits. e. coins in circulation.
The narrowest definition of money excludes currency in the vault at the bank. So the correct answer is option (c) currency in the vault at the bank.
The narrowest definition of money excludes:
Money is a form of exchange used to buy and sell goods and services. In a nutshell, it is money that is typically issued by a government and commonly accepted as payment at face value. It comes in the form of coins and paper.
Contract—often used with down—to lessen the breadth or scope of. Limit—often used in conjunction with down—2: to narrow the range or sphere of, reducing the options available. Transitory Verb: contract—often used with down—to diminish in width or extent. Narrow.
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bianca, a minor, enters into a contract to buy two all-season passes from chalet ski park. the contract will be made enforceable if, after reaching the age of majority, bianca
The contract will be made enforceable if, after reaching the age of majority, Bianca ratifies it. Thus, option D is correct.
What is the contract?A contract is described as an agreement, whether written or oral, among two or more parties that are regarded as legally binding. It is a document that is used to enforce a promise that has been made.
As the contract with the minor is termed void. So, she at that point did not enter into any contract. But in later times after achieving a certain age it will be enforceable.
If Bianca ratifies the Agreement after having reached the Age of Majority, the Agreement shall become enforceable.
Therefore, option D is the correct option.
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The question is incomplete, the complete question will be:
a.
disaffirms it.
b.
voids it.
c.
nullifies it.
d.
ratifies it.
which of the following is not an example of intraindustry trade? a. trading jeeps for toyotas b. trading boeing airplanes for airbus airplanes c. trading bush beer for heineken beer d. trading oil for trucks
This is not an example of intra-industry trade - Trading Oil for Trucks.
What is intra-industry trade?
The trading of comparable goods from the same industry is referred to as intra-industry trade. The phrase is typically used in reference to global trade, in which the same goods or services both are imported and exported. In Nigel Grimwade's opinion, "The framework of classical as well as neo-classical trade theory cannot provide an explanation. The latter foresees only trade and inter-industry specialisation". This is not the case, though. The Heckscher-Ohlin and David Ricardo models, which tried to describe the incidence of international trade, established this same traditional model of trade. Both models included a justification for international trade as well as the concept of comparative advantage.
Here, the term "intra industry trade" refers to the exchange of similar products within the same industry; the majority of these products are imported and exported.
Therefore, the correct option is (D) trading oil for trucks
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galveston machinery produces large quantities of its component parts for the oil and gas industry in galveston, texas. the company then ships the parts to its customers worldwide. the savings from producing in one location more than offset the added cost of transporting the parts to customers. this is an example of .
The expense of shipping the parts to customers is more than covered by the savings from producing in a single location. Economies of scale are demonstrated here.
What elements should be taken into account when physically distributing goods?The physical distribution considers a number of sales channels, including wholesale and retail, and it addresses critical areas for making decisions, such as customer service, inventory, materials, packaging, order processing, logistics, and transportation.
Which modes of transportation transports more freight across the country?Trucks transported 69.1% of the value of the freight, followed by rail (14.4%), vessels (9.5%), air (3%) and pipeline (0.7%). 84.1% of the value was transported by truck, rail, and pipeline combined on the surface.
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to demonstrate a real-world application of the strategic sourcing process, session 07 featured one of bauer's supply chain management alumni, tania, who works as a buyer at halliburton. she states that when you major in supply chain management and pursue a career in supply chain management:
As a part of the Strategic Sourcing classes (SCM 4350 and SCM 4351), the students participate in case competitions where they get to analyze real company data and then present procurement strategies.
Strategic Supply Management, Credit 3. (3-0). Junior standing, SCM 4351, and either concurrent enrollment in SCM 4350 or credit for it are requirements. Negotiation, supply contracts, supply management performance, and e-procurement are all aspects of the strategic supply management process that concentrate on how strategic supply chain management effectively allows for early supplier involvement. the advantage over rivals Strategic Sourcing and Spend Analysis, Cr. 3, of SCM 4351. (3-0). SCM 4350 and junior standing are requirements. strategic sourcing procedure in seven steps. Spend analysis, supplier rationalization, leveraged spending, maverick spending, spend leakage, cost analytical models, and Kraljic's portfolio matrix are among the subjects covered. e-procurement, supply contracts, early supplier involvement, negotiation, supply outsourcing, and supply management effectiveness.
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what set of uniform rules established by the united nations governs the formation of international sales contracts and explains the rights and obligations of the buyer and the seller? multiple choice question. sarbanes-oxley act foreign contract practices act convention on the international sale of goods general agreement on tariffs and trade
Set of uniform rules established by the united nations governs the formation of international sales contracts of the buyer and the seller Convention on the International Sale of Goods.
The United Nations Convention on Contracts for the International Sale of Goods (Vienna, 1980) (CISG), which was the culmination of UNCITRAL's work on uniform sales law, is not only a widely ratified treaty but also the model for numerous regional and national legislation. The CISG, which addresses both contract formation and party obligations, carefully weighs the interests of the buyer and seller and offers a wide range of remedies in the event of non-performance. The Convention on the Limitation Period in the International Sale of Goods is an addition to the CISG that deals with a difficult and important area of sales law that is subject to vastly diverse treatment in various legal systems.
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Select the correct answer. what effect does inflation have on the prices of goods and services? a. prices decrease. b. prices double. c. prices increase. d. prices stay the same.
Answer:
Answer c, prices increase
Explanation:
Answer:
Prices increase.
Explanation:
i got it right
a data analyst has been invited to a meeting. they review the agenda and notice that their data analysis project is one of the topics that will be discussed. how can they prepare for an effective meeting? select all that apply.
Ways through which data analyst can prepare for an effective meeting are; Plan to arrive on time, think about what project updates they should share, bringing materials for taking notes.
When attending meetings, there are certain things that an attendee should keep in mind in order for the meeting to be effective.
One should always prepare to reach a meeting on time because not reaching on time can cause you to miss something important and also provides a negative image.
As there are several points being discussed in a meeting, one should always bring material for taking notes in a meeting as these notes will help them in work.
Also, before a meeting, always thinks about the work that was done on a project and how you will share the project updates in the meeting.
Although a part of your question is missing, you might be referring to this question:
A data analyst has been invited to a meeting. they review the agenda and notice that their data analysis project is one of the topics that will be discussed. how can they prepare for an effective meeting? select all that apply.
Plan to arrive on time.
Create and share a revised agenda that includes many more details about the project.
Think about what project updates they should share.
Bringing materials for taking notes.
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In year 1 pepper company reported a $40,000 gross margin on $200,000 of sales revenue. In year 2 pepper’s accounting records showed sales revenue of $220,000 and cost of goods available for sale of $210,000. Using the gross margin method of estimating inventory, the estimated amount of ending inventory for year 2 is.
The following chart shows how the ending merchandise inventory was calculated company.
= Price of the things that are on sale - Cost of goods sold is calculated as follows: $900,000 plus $3,400,000 plus $200,000, which is $4,500,000.
Additionally, the cost of products sold is calculated as follows: sales - gross profit ($4,800,000 - 25% of $4,800,000) = $3,600,000
The current ending inventory of goods is equal to $900,000 ($4,500,000 - $3,600,000).
The method used to determine the ending merchandise inventory is shown in the chart below company .
= The cost of items that are on sale - To determine cost of products sold, use the formula below: $4,500,000 is equal to $900,000 plus $3,400,000 plus $200,000.
Additionally, merchandise the following formula is used to determine the cost of goods sold: Gross profit divided by sales ($4,800,000 – 25% of $4,800,000) equals $3,600,000 company.
($4,500,000 - $3,600,000) represents the current ending inventory of items, which comes to $900,000.
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labo corp.'s year 1 pretax income for financial reporting was $125,000, which included a $17,000 penalty for operating without a proper retail license and a $15,000 depreciation expense. macrs depreciation on the tax return was $22,000. the enacted tax rates are 25% in year 1 and 30% in future years. what amounts should labo report as current and deferred tax liabilities on its year 1 balance sheet?
Labo should report $33,750 as current tax liabilities, and $2,100 as deferred tax liabilities on its year 1 balance sheet.
Calculations for current tax liabilities:
Income before Tax $125,000
Add: Inadmissible expenses
Penalty $17,000
Depreciation as per books $15,000
Less: MACRS depreciation ($22,000)
Income for calculating Tax $135,000
Given, Current tax rate is 25%
So Current tax liabilities=Income for calculating tax*Current tax rate
=$135,000*0.25
=$33,750
Calculations for deferred tax liabilities:
Deferred tax liabilities=Excess of tax depreciation*Future enacted tax rate
Excess of tax depreciation=MACRS depreciation-depreciation expense
=$22,000-$15,000
=$7,000
Future enacted tax rate=30%
So, Deferred tax liabilities=$7,000*30%
=$2,100
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Four years ago ollie deposited some money into an account. He earned 5 percent interest on this account and now it has a balance of $303. 88. About how much money did ollie deposit into his account when he opened it?.
About $250 did ollie deposit into his account when he opened the bank account again.
Present value = Future value/ (1+interest rate)^time
= $303.88 /(1+0.05)^4
= $303.88 / 1.2155
= $250
Thus, Matt deposited $250 into the account when he first opened it.
Money kept in a bank is referred to in the financial lexicon as a deposit. A deposit is a transaction in which money is transferred to a different party for safekeeping. Yet another definition of a deposit is a sum of money used as security or collateral for the delivery of an item.Transferring money to a third party, such a bank, for safekeeping constitutes a different type of deposit.There are two definitions for a deposit. One type of deposit entails transferring money to a different party for safekeeping. According to this definition, a deposit is cash added by an investor to a savings or checking account kept at a bank or credit union.Learn more about Deposit, here
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if a country sells fewer goods and services abroad than it buys from other countries, it is said to have a trade a. deficit and negative net exports. b. surplus and positive net exports. c. deficit and positive net exports. d. surplus and negative net exports.
If a country sells fewer goods and services abroad than it buys from other countries, it is said to have a trade deficit and negative net exports. So, the correct answer is (a).
When a nation's expenditures surpass its exporters during a particular time frame, a trade deficit results. It is also commonly known as a negative balance of trade (BOT).
When a foreign monetary account has a net negative amount or negative balance, a trade deficit exists. All financial activity that involves a shift in ownership between residents and non-residents are documented in the balance of payments (international transaction accounts). When a country exports goods and services to other countries less than it buys or imports, it usually has a trade deficit as well as negative net exports.
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according to hersey and blanchard, which leadership style should be used when subordinates have a low to moderate degree of motivation, competence, experience, and interest in accepting responsibility?
According to Hersey and Blanchard, Telling leadership style should be used when subordinates have a low degree of motivation, competence, experience, and interest in accepting responsibility.
Telling leadership style:A telling leadership style is a “short-term approach” required to “create movement”. If a follower lose task specific experience or skill as well as the confidence important to act, the leader needs to tell them what to do; how to do it; when to do it.
Which leadership style is most effective?Democratic leadership is one of the best effective leadership styles. This is because it permits lower-level employees to exercise the authority they will need to use wisely in future positions.
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william wants everyone to think his business is growing faster than it actually is so he built an impressive website with an exaggerated company history. his efforts to mislead are known as .
William created a stunning website with an embellished company history so that everyone would believe his business was expanding more quickly than it actually is. His deceitful actions are referred to as validity is a lie.
A website is a collection of web pages and related content that is published on at least one web server, goes by the same domain name, and is accessible via that domain name. The World Wide Web is the collective name for all websites that are open to the public. Additionally, there are private websites that are only accessible through a private network, such as an organization's internal website for staff members.
Websites are frequently devoted to a specific subject or objective, such as news, education, business, entertainment, or social networking. The site's navigation, which frequently begins with the main page, is aided by hyperlinks between individual web pages. Various devices, such as PCs, laptops, tablets, and smartphones, can be used by users to visit websites.
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only the operations function part of an organization must design and operate processes that are part of a supply chain and deal with quality, technology, and staffing issues.
Only the operations section of a company must create and execute procedures that are part of a supply chain and deal with quality, technology, and workforce challenges. The given statement is false.
What is Supply Chain network?
A supply chain is the network of all the people, organisations, resources, activities, and technology involved in the manufacture and sale of a product. A supply chain includes everything from the transfer of raw materials from the supplier to the producer to the final distribution to the end user.
Seven Workforce Challenges
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using the values held by his organization, don has defined an ethical approach for dealing with the needs of his team members and their customers that he has implemented within his department. his team members know what is expected of them, and their customers know what to expect from the organization. the primary benefit of this approach for don's department is .
As Don has set out an ethical approach for dealing with the needs of his team members and their customers that he has implemented within his department which make his team members to know what is expected of them, then, the primary benefit of this approach for Don's department is a consistent operation
What is a consistent operation?An approach to ethics assumes that there are certain ideals toward which we should strive which provide for the full development of our humanity. These sort of ideals are discovered through the thoughtful reflection on what kind of people we have the potential to become.
When a company has reached the stage where it is looking to scale operations, then, maintaining a consistency in business processes is crucial to prevent chaos on work processes.
Therefore, the consistent operation is what Don is trying to achieve by setting out an ethical approach for dealing with the needs of his team members to make his team members know what is expected of them.
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Broussard Skateboard's sales are expected to increase by 15% from $8.6 million in 2019 to $9.89 million in 2020. Its assets totaled $3 million at the end of 2019. Broussard is already at full capacity, so its assets must grow at the same rate as projected sales. At the end of 2019, current liabilities were $1.4 million, consisting of $450,000 of accounts payable, $500,000 of notes payable, and $450,000 of accruals. The after-tax profit margin is forecasted to be 4%, and the forecasted payout ratio is 60%. Use the AFN equation to forecast Broussard's additional funds needed for the coming year. Enter your answer in dollars. For example, an answer of $1.2 million should be entered as $1,200,000. Do not round intermediate calculations. Round your answer to the nearest dollar.
The Additional Funding requirement (AFN) will be $743,240.
Additional funding needed for next year [AFN]
Next year's expected sales = $9,890,000
Profit margin after tax
Profit margin after tax = next year's expected sales × profit margin
= $9,890,000 × 4.00%
= $395,600
Dividend pay-out
Dividend pay-out = after tax profit margin × dividend payout ratio
= $395,600 × 60%
= $237,360
Add to retained earnings
Additions to retained earnings = profit margin after tax - dividend pay-out
= $395,600 - $237,360
= $158,240
Increase in total assets
Increase in total assets = Total assets × percentage increase in sales
= $3,000,000 × 15%
= $450,000
Increase in spontaneous responsibilities
Increase in accrued liabilities = [accounts payable + accruals] × percentage increase in sales
= [$450,000 + $450,000] × 15%
= $900,000 × 15%
= $135,000
Additional Funding Needed [AFN]
Therefore, Additional Funds Needed [AFN] = Increase in total assets - Increase in outstanding liabilities - add in retained earnings
= $450,000 - $135,000 - $158,240
= $743,240
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a merchandiser has four closing journal entries at the end of an accounting cycle. select the correct entries below. (check all that apply.)multiple select question.close revenue accounts.close expense accounts.close the income summary account.close the withdrawals account.close the merchandise inventory account.close asset accounts.
Closing journal is one part of the financial statements that will be prepared at the end of the accounting period. This part of the financial statements is used to close nominal accounts to prepare the period-end balance sheet.
Closing entries are made at the end of the accounting period after the company's financial statements are prepared. This journal needs to be made because there are accounts whose balances must still be adjusted to zero, so as not to affect transactions for the next period. The preparation of this closing journal is adjusted to the form of the company, whether CV, firm, or PT. The preparation of this flexible closing journal aims to make it easier for interested parties to study it.
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