Answer:
a. No journal entry required.
Explanation:
a. No journal entry required.
b. No journal entry required.
c. DR - Rent Expense - $20
CR - Cash - $20
d. Cash (DR) 7,955
DR - Collection expense - $45
CR - Notes Receivable - $8,000
e. DR - Accounts Receivable-E. Shaw - $ 805
CR - Cash - $805
f. DR - Misc Expenses - $25
CR - Cash - $25
g. No journal entry required.
i. No journal entry required.
Answer:
Wilkens' days in inventory for 2017 = 60.833
Explanation:
Given:
Sales = $1,800,000
Beginning inventory = $160,000
Ending inventory = $240,000
Gross profit = $600,000
Inventory turnover = 6 times
Wilkens' days in inventory for 2017 = ?
Computation of Wilkens' days in inventory for 2017:
Wilkens' days in inventory for 2017 = Number of days in a year / Inventory turnover
Wilkens' days in inventory for 2017 = 365 / 6 times
Wilkens' days in inventory for 2017 = 60.833
Answer: A
Cross training
Explanation:
Cross training involves teaching an employee the the skills required to execute the task he/she was employed for and also the skills required to perform a different job function. G4S is a security firm and the primary job function of its recruit will be protecting life but there might be case of an injured individual that need quick medical help, in such cases an employee is required to know basic first aid. Hence the need for cross training.
Answer:
increase in income of $80
Explanation:
Prepare an Analysis of Costs and Savings if the Company buys from Outside Supplier.
Note : The fixed costs per unit at are unavoidable are irrelevant and disregarded in this decision.
<u>Analysis of Costs and Savings</u>
Purchase Price (400 widgets × $44.00) = ($17,600)
Savings :
Variable Costs ($35.60 × 400 widgets) = $14,240
Fixed Cost ( $8.60 × 400 widgets) = $3,440
Net Income effect = $80
Conclusion :
The effect on net income if the company instead buys the widgets is an increase in income of $80
Answer:
Assume all markets are in long-run equilibrium. Market price in a duopoly would be <u>greater than or equal to</u> the market price in a monopoly, and <u>less than</u> or equal to the market price in a competitive market.
Explanation:
That is the logical answer to the question about markets that are in long-run equilibrium.