A delivery company is creating a balance sheet. Which of the following would most likely be considered a short-term liability on this balance sheet?
the depreciation over the last year in the value of the vehicles owned by the company
revenue received for the delivery of items that have not yet been delivered
prepaid rent on the offices occupied by the company
a loan which must paid back in two years
In: Finance
Presented below is information related to Oriole Corporation for the current year. Beginning inventory $ 596,100 Purchases 1,505,300 Total goods available for sale $2,101,400 Sales revenue 2,500,000 Compute the ending inventory, assuming that (a) gross profit is 46% of sales, (b) gross profit is 60% of cost, (c) gross profit is 32% of sales, and (d) gross profit is 25% of cost.
In: Accounting
Presented below is information related to Oriole Corporation for the current year. Beginning inventory $ 596,100 Purchases 1,505,300 Total goods available for sale $2,101,400 Sales revenue 2,500,000 Compute the ending inventory, assuming that (a) gross profit is 46% of sales, (b) gross profit is 60% of cost, (c) gross profit is 32% of sales, and (d) gross profit is 25% of cost.
In: Accounting
4 To survive and prosper an organisation must not only remain profitable, it also must be able to achieve positive cash flows. Which of the following statements regarding source documents in a revenue cycle is incorrect?
Select one:
The sales invoice is prepared by the billing clerk.
The remittance advice is generated by the customer.
The sales order is prepared by the salesperson.
The packing slip is generated by the shipping clerk.
In: Accounting
Brown sells tiling grout and reports the following data:
|
Kilograms produced and sold |
625,000 kg |
| Sales revenue | |
|
$5,625,000 |
|
| Variable manufacturing expense | |
|
1,875,000 |
|
| Fixed manufacturing expense | |
|
1,000,500 |
|
| Variable selling and administrative expense | |
|
625,000 |
|
| Fixed selling and administrative expense | |
|
562,000 |
|
| Net operating income | |
|
$ 1,562,500 |
Calculate the company’s operating leverage if sales decrease by 10%.
In: Finance
#1: Define Natural, Human, Social and Financial/Physical capital.
4 sentences, 1 on each
#2: As engineers should we be prepared to discuss,
debate and understand how our Government makes its
decisions on allocated Government revenue.
Paragraph
#3. When doing a CBA analysis is it important if the
party paying the cost does not enjoy the benefit?
2/3 sentences
In: Economics
What are your thoughts on potential payment of collegiate athletes? If you are for paying athletes, what does the system look like? How do you keep the "haves" from completely dominating the "have-nots?" If you are against it, why? At it's highest level, "student-athletes" make millions of dollars for their institutions yet receive financial compensation that pales in comparison to the revenue they generate.
In: Economics
For each of the following, explain whether you agree or disagree with the accounting treatment. Support your view with the GAAP Principles.
In: Accounting
A perfectly competative firm is said to face a perfectly elastic demand curve.
a. Explain why the price elasticity is so high under perfect competition
b.What is the consequence of a perfectly elastic demand curve on the marginal revenue recieved by the individual perfect competitor?
c.Based on your answers to b, state the profit optimizing rule (optimal Q) to as it applies to perfect competitor ONLY:
In: Economics
6. Crane Sales Company uses the retail inventory method to value its merchandise inventory. The following information is available for the current year:
Cost Retail
Beginning inventory $ 60,000 $ 90,000
Purchases 380,000 520,000
Freight-in 5,000 —
Net markups — 17,000
Net markdowns — 20,000
Sales revenue — 410,000
What is the cost of ending inventory using the conventional method?
In: Accounting