Questions
Use the following information about the current year's operations of a company to calculate the cash...

Use the following information about the current year's operations of a company to calculate the cash received from customers.  

Sales $ 100,000
Accounts receivable, January 1 25,000
Accounts receivable, December 31 32,000
Accounts payable, January 1 52,000
Accounts payable, December 31 62,000

$68,000.

$157,000.

$93,000

$100,000.

$125,000.

In: Accounting

In our chapter reading this week, we learn more about setting up a sample company in...

In our chapter reading this week, we learn more about setting up a sample company in QuickBooks Online. We explore how to customize a chart of accounts, explore lists, and navigate the various areas for customers, vendors and employees. Which feature do you like most so far in your navigation of QuickBooks Online?

In: Accounting

write short essay about walmart suggestions based on what you find Besides, after learning about the...

write short essay about walmart suggestions based on what you find Besides, after learning about the consumers who buy this product, create the concept of a product extension. This new product must be
something that is not currently marketed by
that particular company, that you think would
interest the same customers who are now
buying the original product

In: Operations Management

During your time as a SeeMoji intern, you have communicated major company changes to both investors...

During your time as a SeeMoji intern, you have communicated major company changes to both investors and customers. Write a five-paragraph essay answering the following question: Do mechanical errors affect the credibility of the writer?   

Elements of your essay that will be evaluated include:

·       Mechanics

·       Introduction

·       Thesis statement

·       Paragraph development

·       Transitions

·       Conclusion

In: Operations Management

please identify the functional, structural, and resources requirements which will be used later on as objectives...

please identify the functional, structural, and resources requirements which will be used later on as objectives for your dissertation project in which you are to provide a scoping study and find requirements for an SME company in the food industry to develop a business App for its customers to use (in a full analysis) and in the A3 map (in a brief identification). write upto 1000 words

In: Operations Management

With the COVID19 pandemic, marketing messaging has been flipped on its head. Companies no longer know...

With the COVID19 pandemic, marketing messaging has been flipped on its head. Companies no longer know what to say to their customers due to the continuously poor prognosis of the economy and the overall health of the citizens.if you are the director marketing for your company, what message would you deliver? How would that message help benefit your organization?

In: Operations Management

Vulcan Company’s contribution format income statement for June is as follows: Vulcan Company Income Statement For...

Vulcan Company’s contribution format income statement for June is as follows:

Vulcan Company
Income Statement
For the Month Ended June 30
Sales $ 900,000
Variable expenses 400,000
Contribution margin 500,000
Fixed expenses 470,000
Net operating income $ 30,000

Management is disappointed with the company’s performance and is wondering what can be done to improve profits. By examining sales and cost records, you have determined the following:

  1. The company is divided into two sales territories—Northern and Southern. The Northern Territory recorded $400,000 in sales and $200,000 in variable expenses during June; the remaining sales and variable expenses were recorded in the Southern Territory. Fixed expenses of $172,000 and $135,000 are traceable to the Northern and Southern Territories, respectively. The rest of the fixed expenses are common to the two territories.

  2. The company is the exclusive distributor for two products—Paks and Tibs. Sales of Paks and Tibs totaled $200,000 and $200,000, respectively, in the Northern territory during June. Variable expenses are 26% of the selling price for Paks and 74% for Tibs. Cost records show that $94,000 of the Northern Territory’s fixed expenses are traceable to Paks and $42,000 to Tibs, with the remainder common to the two products.

Required:

1-a. Prepare contribution format segmented income statements for the total company broken down between sales territories.

1-b. Prepare contribution format segmented income statements for the Northern Territory broken down by product line.

In: Accounting

Vulcan Company’s contribution format income statement for June is as follows: Vulcan Company Income Statement For...

Vulcan Company’s contribution format income statement for June is as follows:

Vulcan Company
Income Statement
For the Month Ended June 30
Sales $ 900,000
Variable expenses 400,000
Contribution margin 500,000
Fixed expenses 470,000
Net operating income $ 30,000

Management is disappointed with the company’s performance and is wondering what can be done to improve profits. By examining sales and cost records, you have determined the following:

  1. The company is divided into two sales territories—Northern and Southern. The Northern Territory recorded $400,000 in sales and $200,000 in variable expenses during June; the remaining sales and variable expenses were recorded in the Southern Territory. Fixed expenses of $172,000 and $135,000 are traceable to the Northern and Southern Territories, respectively. The rest of the fixed expenses are common to the two territories.

  2. The company is the exclusive distributor for two products—Paks and Tibs. Sales of Paks and Tibs totaled $200,000 and $200,000, respectively, in the Northern territory during June. Variable expenses are 26% of the selling price for Paks and 74% for Tibs. Cost records show that $94,000 of the Northern Territory’s fixed expenses are traceable to Paks and $42,000 to Tibs, with the remainder common to the two products.

Required:

1-a. Prepare contribution format segmented income statements for the total company broken down between sales territories.

1-b. Prepare contribution format segmented income statements for the Northern Territory broken down by product line.

In: Accounting

The unadjusted trial balance for Sunland Engineering at its year end, December 31, 2017, is as...

The unadjusted trial balance for Sunland Engineering at its year end, December 31, 2017, is as follows: SUNLAND ENGINEERING Trial Balance December 31, 2017 Debit Credit Cash $8,400 Accounts receivable 5,850 Supplies 4,750 Prepaid insurance 7,560 Notes receivable 12,300Equipment 27,400Accumulated depreciation—equipment $8,220 Accounts payable 4,600 H. Duguay, capital 39,440 H. Duguay, drawings 52,500 Service revenue 106,000 Salaries expense 39,500 $158,260 $158,260 Additional information: 1. Revenue of $10,550 was earned but unrecorded and uncollected as at December 31, 2017. 2. On June 1, the company purchased a one-year insurance policy. 3. Depreciation on the equipment for 2017 is $2,740. 4.A count on December 31, 2017, showed $1,800 of supplies on hand. 5.The four-month, 4% note receivable was issued on October 1, 2017. Interest and principal are payable on the maturity date. Make adjusting entries for the year ended December 31, 2017. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31 (To accrue revenue earned but not billed or collected)Dec. 31 (To record insurance expired)Dec. 31 (To record depreciation)Dec. 31 (To record supplies used)Dec. 31 (To record accrued interest) Post the adjusting entries. (Post entries in the order of journal entries presented in the previous part.) Accounts Receivable Interest Receivable Prepaid Insurance Supplies Accumulated Depreciation-Equipment Service Revenue Interest Revenue Supplies Expense Depreciation Expense Insurance Expense Make closing entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31 (To close revenue accounts)Dec. 31 (To close expense accounts)Dec. 31 (To close profit to capital)Dec. 31 (To close drawings account)

In: Accounting

For each of the following, evaluate whether the statement is true or false, and provide an...

For each of the following, evaluate whether the statement is true or false, and provide an explanation for your answer.

  1. A firm will shut down in the short run if revenue is not sufficient to cover all of its fixed costs of production. (2 points)
  2. If the marginal cost of producing the tenth unit of output is $3, and if the average total cost of producing the tenth unit of output is $2, then at ten units of output, average total cost is rising. (2 points)
  3. At the profit-maximizing quantity of output for a monopolist, average revenue, marginal revenue, and price are all equal. (2 points)

In: Economics