The break-even point for Easton Corporation was $855,000 (option d) is the correct answer.
Based on the information provided, the break-even point for Easton Corporation, we will first find the fixed costs and then use the contribution margin ratio to find the break-even point in sales.
Step 1: fixed costs.
We know that:
- Sales = $780,000
- Contribution Margin Ratio = 40%
- Net Loss = $30,000
Contribution Margin = Sales * Contribution Margin Ratio
Contribution Margin = $780,000 * 40% = $312,000
Now, we can find the fixed costs:
Fixed Costs = Contribution Margin - Net Loss
Fixed Costs = $312,000 - (-$30,000) = $342,000
Step 2: break-even point in sales.
Break-even point in sales = Fixed Costs / Contribution Margin Ratio
Break-even point in sales = $342,000 / 40%
Break-even point in sales = $855,000
Therefore, the break-even point for Easton Corporation was $855,000 (option d).
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Prompt
Discuss the differences between a wage, a salary and a commission.
Wages are based on the amount of time spent working and the amount of work performed during that time. Salary is more akin to a set sum. The major distinction between salaries and wages is this.
Explain the differences between a wage, a salary, and a commission.A wage is given after a certain number of hours or after the task has been done. Because a salary is frequently paid monthly regardless of how much labor you put in, it is comparable to a fixed income. You receive the whole amount up front when you complete the work for a commission. This is the method through which creative individuals, such as musicians and painters, profit from their work.
What does it imply to talk about earnings and salary?While wages are remuneration for labor services often provided and expressed in hourly rates, salaries are analogous payments that are declared in weekly, monthly, or annual rates. The regular payment made to a worker or employee in return for their effort during the manufacturing process is known as a "wage" (or "pay").
What is the purpose of a business commission?Depending on the sales they produce, employees may get commission, often known as sales commission. The generation of invoices is free with SumUp Invoices. Often, a commission is calculated as a percentage of the sale's price.
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Jessie owns a company that makes specialized dog products. Right now, Jessie's
company has a dog brush product line and a dog shampoo product line. His company
produces and sells four different dog brushes and five different dog shampoos. What
is the product width and the product length of Jessie's company?
width: 9, length: 2
width: 5, length: 4
width: 2, length: 9
width: 2, length: 19
The item width and length for Jessie's business are 2 and 9, respectively.
What else do you mean by the product length and width?Length represents the overall amount of products the company offers, while width represents the variety of product lines.
The number of product lines that the company carries is referred to as the width of a product offerings. a line. The total amount of components in the product mix is referred to as the duration of the product mix. A total number of goods in a company's product mix is referred to as length. Think of a car manufacturer with two automobile product lines as an illustration (3-series and 5-series). There are three different car kinds for each product line series. The company's product length in this instance would be six.
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Presented below is information related to Blossom Company.
Date
Ending Inventory (End-of-Year Prices)
December 31, 2022
$73,000
100
December 31, 2023
116,596
103
December 31, 2024
118
113,988
Price
Index
December 31, 2025
127,889 127
December 31, 2026
153,303 137
December 31, 2027
185,026 142
Compute the ending inventory for Blossom Company for 2022 through 2027 using the dollar-value LIFO method.
For the years 2022 through 2027, Blossom Company's ending inventory calculated using the dollar-value LIFO technique is:
Which approach bases the final inventory dollar amount on the price of the oldest stock items?The cost of the earliest inventory items sold is added to determine FIFO. The price of the first 10 goods purchased as inventory is put together, for instance, if 10 pieces of inventory were sold. The cost of items sold is the same as this. The price of these ten goods may vary based on the valuation technique used.
Using the dollar-value LIFO approach, the ending inventory for Blossom Company may be calculated as follows:
Ending inventory for 2022 = $73,000 (given)
Ending inventory for 2023 = $73,000 + (116,596 - 73,000)/103 x 100 = $102,019.42
Ending inventory for 2024 = $102,019.42 + (118,988 - 116,596)/113 x 103 = $103,647.75
Ending inventory for 2025 = $103,647.75 + (127,889 - 118,988)/127 x 113 = $115,097.70
Ending inventory for 2026 = $115,097.70 + (153,303 - 127,889)/137 x 127 = $158,621.14
Ending inventory for 2027 = $158,621.14 + (185,026 - 153,303)/142 x 137 = $217,860.67
As a result, using the dollar-value LIFO approach, the ending inventory for Blossom Company for 2022 through 2027 is:
2022: $73,000
2023: $102,019.42
2024: $103,647.75
2025: $115,097.70
2026: $158,621.14
2027: $217,860.67
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Most central bankers would agree with which of the following regarding monetary policy? A. the benefits outweigh the costs B. the costs outweigh the benefits C. the benefits are equal to the costs
Most central bankers would agree that option A, the benefits outweigh the costs, regarding monetary policy.
What would Most central bankers would agree with?Central bankers generally believe that monetary policy can be an effective tool for achieving these goals, and that the benefits of monetary policy (such as economic stability and growth) outweigh the costs (such as inflationary pressures or unintended consequences).
However, the exact balance of benefits and costs can vary depending on the specific circumstances of the economy and the policies being implemented.
Therefore the correct option is A.
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What are the 3 types of guards?
Answer:
Explanation:
fixed
adjustable
interlocked
The three main types of guards are:
Unarmed security guards: These are security guards who do not carry weapons and are primarily responsible for monitoring and reporting security issues. They may be stationed at entrances and exits, monitor surveillance cameras, and patrol the premises to deter criminal activity.Armed security guards: These are security guards who carry weapons such as firearms or batons, and are trained to use them in case of an emergency. They are typically deployed in high-risk areas where there is a greater risk of criminal activity or threats.Personal protection guards: These are security guards who provide protection and security for individuals, such as celebrities, politicians, or high-profile executives. They may work alone or as part of a larger security team, and are responsible for ensuring the safety and security of their clients.Each type of guard has its own unique responsibilities and requirements, and the specific duties of a security guard will vary depending on the type of guard and the employer.
why are some organizations more efficient and effective at what they do than others?
When an organization achieves its objective with the fewest amount of resources, money, and time, it is said to be operating efficiently.
Organizational effectiveness, on the other hand, is not time-oriented and focuses on attaining a goal by doing the right things. These two are measured differently by businesses.
These qualities make some organizations more efficient and effective at what they do than others.
Effectiveness?Efficiency is the maximum degree of performance that requires the fewest inputs and produces the greatest amount of output.
Efficiency calls for cutting back on the amount of unneeded resources, such as personal time and energy, utilized to generate a particular product.
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10 pts
If an increase in price from $5 to $6 causes quantity to fall from 500 to 470, calculate the price elasticity of
demand. Note that economists express the price elasticity of demand as a positive number.
Answer:
The price elasticity of demand is calculated as the percentage change in quantity demanded divided by the percentage change in price.
Using the formula, we can calculate the price elasticity of demand as follows:
Price elasticity of demand = ((Q2 - Q1) / ((Q1 + Q2) / 2)) / ((P2 - P1) / ((P1 + P2) / 2))
Where:
Q1 = 500
Q2 = 470
P1 = 5
P2 = 6
Price elasticity of demand = ((470 - 500) / ((500 + 470) / 2)) / ((6 - 5) / ((5 + 6) / 2))
Price elasticity of demand = (-30 / 485) / (1 / 5.5)
Price elasticity of demand = -0.3144
Since economists express the price elasticity of demand as a positive number, we can take the absolute value of the result to get the price elasticity of demand as 0.3144.
what are two common causes of postoperative wound evisceration? why might these causes lead to wound evisceration? 1 see answer add answer 10 pts
Postoperative wound evisceration is a rare but potentially life-threatening surgical complication characterized by the protrusion of internal organs through a surgical wound.
Two common causes of this complication include poor surgical technique and increased abdominal pressure. Poor surgical technique can result in inadequate closure of the wound, leading to wound dehiscence and eventual evisceration. Increased abdominal pressure, which can result from coughing, straining, or vomiting, can also cause wound dehiscence and evisceration by placing undue stress on the surgical incision site. Proper surgical technique, adequate wound closure, and careful management of postoperative complications can help prevent this dangerous and potentially fatal complication.
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What are the 3 main duties of security guard?
• Monitor property entrance.
• Report any suspicious behaviors and happenings.
• Inspect and patrol premises regularly.
Mark brainliest, if correct
What ethical dilemmas does your topic raise?
Topic- Eliminating harassment in the workplace
Answer:Eliminating harassment in the workplace raises several ethical dilemmas, including:Privacy: Employers must balance their obligation to protect employees from harassment with the employees' right to privacy. For example, implementing surveillance systems or monitoring employee communications to prevent harassment may be viewed as an invasion of privacy.Due process: Employers must ensure that any allegations of harassment are thoroughly investigated and that the accused is given due process. This includes providing the accused with the opportunity to defend themselves against any accusations made against them.Confidentiality: Employers must ensure that any complaints or allegations of harassment are kept confidential to protect the privacy of the accuser and the accused. However, there may be instances where the employer is legally required to report the harassment, which can raise questions about confidentiality.Retaliation: Employers must ensure that employees who report harassment are protected from retaliation. This includes protecting employees from being fired, demoted, or otherwise retaliated against for making a complaint.Equality: Employers must ensure that their efforts to eliminate harassment do not discriminate against any group of employees. For example, implementing policies that disproportionately affect certain groups, such as women or minorities, may be viewed as discriminatory.Overall, eliminating harassment in the workplace
Explanation:requires a delicate balance between protecting employees from harassment while also upholding their rights and freedoms. Employers must carefully navigate these ethical dilemmas to create a safe and fair workplace for all employees.
how to gain competitive advantage
Answer:
I know ur answer.
Explanation:
1. become the low-cost supplier
2. develop differentiated, innovative products and services
3. target a niche: geography, industry, product/service
4. employ differentiated business methods and approaches.
Answer:
Gaining a competitive advantage can be challenging, but there are several strategies businesses can adopt to achieve this goal. Here are some recommendations to improve your business's competitiveness:
1. Differentiation: One way to gain a competitive advantage is to differentiate your product or service from those of competitors. You can stand out by focusing on a unique feature or benefit that none of your competitors offer.
2. Cost Leadership: Another approach is to lower your costs and offer lower prices than your competitors. This helps attract price-sensitive consumers who value cost savings while still making a profit.
3. Innovation: Building new and innovative products or services can help you stand out in the market, attract customers who like new trends, and establish a competitive advantage in the industry.
4. Quality products and services: Offering high-quality products or services can increase customer satisfaction and loyalty that can set a business apart from competitors.
5. Customer focus: Focusing on customer satisfaction by regularly evaluating customer needs and concerns, improving service or product quality, and striving to exceed customer expectations can create a competitive advantage for your business.
In summary, businesses can gain competitive advantage by offering unique features or benefits, lowering cost, innovating, providing high-quality goods and services, and focusing on outstanding customer service.
---------------------- skills are highly sought by employers.
a)Strong verbal and written communication
b)Superior motivational directives and placement
Explanation:
Effective communication is a crucial skill in the workplace, as it enables individuals to express their ideas clearly, convey information accurately, and work collaboratively with others. Strong verbal communication skills involve being able to articulate ideas and opinions clearly and confidently, listen actively to others, and respond appropriately to different audiences and situations. Strong written communication skills involve being able to write clearly, concisely, and persuasively, as well as being able to adapt writing style to different audiences and purposes. These skills are essential in a wide range of industries and are highly valued by employers.
Strong verbal and written communication skills are highly sought by employers. Therefore, option a is correct.
Communication skills refer to the ability to convey information, ideas, thoughts, and feelings effectively and efficiently to others. It encompasses both verbal and written communication, including speaking, listening, writing, and reading comprehension.
Strong communication skills are highly valued by employers as they facilitate clear and concise exchange of information, promote collaboration, and enhance overall workplace productivity.
Effective communication involves active listening, expressing ideas articulately, adapting communication style to different audiences, and being attentive to non-verbal cues.
It also encompasses skills such as persuasion, negotiation, and conflict resolution. Good communication skills contribute to successful teamwork, customer relations, leadership, and overall professional success.
Therefore, option a is correct.
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Before a meeting, the secretary is expected to
Answer:
Before a meeting, the secretary is expected to prepare the agenda and distribute it to all attendees.
Explanation:
Preparing the agenda involves listing the topics to be discussed, determining the order in which they will be addressed, and estimating the time needed for each item. This allows attendees to come to the meeting with a clear understanding of what will be discussed and how much time will be allotted for each topic. Distributing the agenda ahead of time also gives attendees the opportunity to prepare any materials or information they may need for the meeting.
In addition to preparing the agenda, the secretary may also be responsible for reserving the meeting room, arranging for any necessary equipment such as projectors or teleconference systems, taking notes during the meeting, and distributing meeting minutes afterwards. The secretary plays a vital role in ensuring that the meeting runs smoothly and that all attendees are well-prepared and informed.
12% per annum with quarterly compounding is equal to what rate per annum with continuous compounding?
A) 11.33%
B) 11.82%
C) 12.14%
D) 12.39%
E) 12.55%
The answer that is equal to the rate per annum with continuous compounding is E) 12.55%.
How to solveWe can use the formula for continuous compounding to solve this problem:
A = P*e^(rt)
where A is the final amount, P is the principal (initial amount), e is the mathematical constant approximately equal to 2.71828, r is the annual interest rate, and t is the time in years.
Let's first calculate the quarterly interest rate:
r_quarterly = 12% / 4 = 0.03
We can then use the formula for quarterly compounding to find the equivalent annual rate with quarterly compounding:
A = P*(1 + r_quarterly)^4
1 + r_quarterly = (A/P)^(1/4)
r_quarterly = (A/P)^(1/4) - 1
Substituting the given values, we get:
1 + 0.03 = (1 + r_annual/4)^4
r_annual/4 = (1 + 0.03)^(1/4) - 1
r_annual = 4 * [(1 + 0.03)^(1/4) - 1] = 12.556%
Therefore, the answer is E) 12.55%.
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PLEASE HELP ME !!! I will mark you brainiest but please answer correctly
After working on payroll, you decide to take inventory of what’s in the shop because your next order date is coming up soon. You will just focus on your inventory of flowers.
a) Use the following information to create your inventory record:
254 red roses currently; 48 sold this week
102 yellow roses currently; 12 sold this week
40 pink hydrangeas currently; 3 sold this week
164 white daisies currently; 52 sold this week
132 yellow daisies currently; 48 sold this week
144 orange daisies currently; 18 sold this week
86 pink lilies currently; 4 sold this week
102 white peonies currently; 24 sold this week
98 pink peonies currently; 36 sold this week
If your current rate of sales continues, in how many weeks will you run out of pink peonies and red roses, assuming that all flowers remain fresh? Use your spreadsheet to calculate the answer.
Answer:
To calculate the number of weeks until you run out of pink peonies and red roses, you need to use the following formula:
Number of weeks = Current inventory / Weekly sales
For pink peonies:
Current inventory = 98
Weekly sales = 36
Number of weeks until out of pink peonies = 98 / 36 = 2.72 weeks (rounded to the nearest whole number)
Therefore, you will run out of pink peonies in about 3 weeks.
For red roses:
Current inventory = 254
Weekly sales = 48
Number of weeks until out of red roses = 254 / 48 = 5.29 weeks (rounded to the nearest whole number)
Therefore, you will run out of red roses in about 5 weeks.
Note: This assumes that the current rate of sales remains constant and that no new inventory is received during this time.
Suppose a 95% confidence level for u has been constructed. If it is decided to take a larger sample and to decrease the confidence level of the interval, then what is the resulting interval width?
Answer:
be narrower than the current interval width
Explanation:
A.) June 30 Purchased a patent for $45,000 from a third-party marketing company related to the packaging of the company’s products. The patent has a 20-year useful life, after which it is expected to have no value.
B.) Amortization of the patent purchased on June 30, 2021, using the straight-line method
(Cost of Patent - Residual Value) / Useful Life = Annual Amortization Cost where: $45,000 is the cost of a patent (the cost to acquire the patent)
Amortization of the patent purchased on June 30, 2021, using the straight-line method.Remaining Value = 0 (the expected value of the patent at the end of its useful life)
20 years is the useful life (the estimated useful life of the patent). The formula yields the following annual amortisation cost for the patent: Annual Amortization Cost: $2,250 annually ($45,000 - $0) / 20. Therefore, using the straight-line method, the business must record an annual amortisation expense of $2,250 for the patent it bought on June 30, 2021. June 30 acquired a patent for the packaging of the business's products from a third-party marketing firm for $45,000. The patent is expected to lose all value after 20 years of practical use. B.) Straight-line-based amortisation of the patent acquired on June 30, 2021.
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Find the slope of linear demand curve for pen when consumer purchase 100 at rs.10 per pen and 50 at rs.15 per pen
The slope of the linear demand curve for pens is -10. This means that for every Rs. 1 increase in price, the quantity demanded will decrease by 10 pens.
How to Calculate the Slope of Linear Demand Curve?To find the slope of a linear demand curve, we need to use the formula:
slope = (change in quantity demanded) / (change in price)
In this case, we have two points on the demand curve:
Point 1: 100 pens at Rs. 10 per pen
Point 2: 50 pens at Rs. 15 per pen
Using these two points, we can calculate the change in quantity demanded and the change in price:
Change in quantity demanded = 100 - 50 = 50 pens
Change in price = Rs. 10 - Rs. 15 = - Rs. 5
Note that the change in price is negative because as the price increases, the quantity demanded decreases.
Now we can calculate the slope:
slope = (change in quantity demanded) / (change in price)
= 50 / (-5)
= -10
Therefore, the slope of the linear demand curve for pens is -10.
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(5140364)
-3-
BACKGROUND INFORMATION
You are the manager of SMK Civil Engineering Group and your company is located in
Midrand. The workforce consists of both permanent and temporary employees. Your
human resources and finance departments are the driving force of your company.
QUESTION 1: PRÉCIS
Content
10
Write a précis of not more than 100 words about the article on the ADDENDUM
(attached) that appeared in the Saturday Star. Use a different heading from the one in
the article and write down the number of words you used at the end of your paragraph.
Language
4
Coherence
4
N990(E) (N14-
Heading
1
Words
1 Summarise it
Article Summary: "New Addendum Regulations for SMK Civil Engineering Group" The Saturday Star featured an article about the new addendum regulations implemented by SMK Civil Engineering Group.
What is the central idea of "New Addendum Regulations for SMK Civil Engineering Group"?The article's main thesis is that SMK Civil Engineering Group has implemented new addendum regulations to enhance worker safety, job security, and fair labor practices, and that management of the business is dedicated to seeing to it that these regulations are followed. The piece highlights the value of employees becoming familiar with the changes and the substantial effect that these regulations will have on the business's operations.
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what answers applies to "fine print"
Most significant information is typically found in the fine print.
Why is reading the fine print on a credit card application important?Credit card consumers have consumer safeguards according to the Credit Card Accountability, Responsibility and Disclosure Act of 2009. To understand your rights, fines, transaction costs, and to prevent unpleasant surprises, it's crucial to carefully read your agreement, especially the tiny print.
The phrase "fine print" refers to contract terms and conditions, disclosures, or other significant information that is included in footnotes or a supplemental document and is not presented in the main body of the document.
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On January 1, the partners' interest in capital, profits, and losses of Studio Partnership were:
Partners -- Percentages
Ross ----------15%
Stone ---------35%
Taylor ---------50%
On April 9, Stone sold his entire interest to Taylor. For tax purposes, which of the following statements is correct regarding Studio's status as a partnership?
A.Studio terminated as of January 1.
B.Studio terminated as of April 9.
C.Studio terminated as of December 31.
D.Studio did not terminate.
Stone sold his entire interest to Taylor on April 9. Therefore, the answer to the question is D. Studio did not terminate.
According to the given information, Ross has a 15% interest in capital, profits, and losses of Studio Partnership; Stone has 35%, and Taylor has 50% interest. Stone sold his entire interest to Taylor on April 9.
What is a partnership?
A partnership is a type of company where two or more individuals jointly own and operate the business. The individuals who own a partnership are known as partners. Partnerships come in various forms, but they all include two or more people who share in the company's ownership and profits. In a partnership, each partner has a specific percentage of interest in the business. This percentage represents the partner's financial stake in the company. Partnerships' tax obligations are calculated based on each partner's percentage of interest in the business.
For tax purposes, partnerships must file an annual tax return that reports the company's profits and losses. The partnership itself does not pay any income tax on these profits. Instead, each partner pays tax on their share of the company's profits.
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Select all te correct answers
What are the advantages a market economy offers producers?
minimal government intervention
property rights
monopoly of bigger companies
free advertising for small businesses
free labor
Answer: Minimal government intervention AND Property rights
Explanation:
Gives at least 5 examples of eco friendly products that will attract customers
Reusable water bottles, cloth shopping bags, bamboo utensils, solar phone chargers, and biodegradable cleaning supplies are a few examples of eco-friendly items that might draw clients.
Which goods fit the eco-friendly category?A few eco-friendly suggestions are waterless laundry detergent strips, bamboo picnicware, reusable paper towel replacements, silicone or stainless steel straws, countertop composters, and repurposed furniture.
Why do people use eco-friendly products?It may significantly lower the amount of garbage produced while promoting waste item recycling and reuse. As a result, the world won't one day turn into a giant junkyard. To put it briefly, using eco-friendly items will protect the environment and all of its inhabitants from the negative impacts of human activity.
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how financial factor such as salary , cost of living, and potential for advancement can impact career choices?
A higher salary can be a strong motivator for individuals to choose a particular career or job, as it can provide financial security and stability.
The cost of living in a particular area can also influence career choices, as individuals may be more likely to pursue jobs in areas with lower living expenses. The potential for advancement can also be a deciding factor, as it can offer opportunities for career growth, skill development, and increased earning potential over time.
These financial factors can impact career choices in various ways. For example, individuals may prioritize a higher salary over job satisfaction or work-life balance, while others may prioritize a lower cost of living in a specific area over a higher salary in a different location. Similarly, some individuals may prioritize career advancement opportunities over immediate salary or financial benefits.
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Explain any five unique characteristics of the hospitality and tourism organizations and how they affect strategic management practice in these organizations
Unique characteristics of the hospitality and tourism industry, such as seasonality, perishability, intangibility, customer involvement, and interdependence, have significant implications.
What are Unique Characteristics of Hospitality and Tourism Organizations?1. Seasonality: The hospitality and tourism industry is highly seasonal, with peak demand periods and off-season periods. This characteristic affects strategic management practices in terms of staffing, inventory management, and marketing strategies.
2. Perishability: Hospitality and tourism services are perishable, meaning they cannot be stored for future use. This characteristic affects strategic management practices in terms of pricing, revenue management, and forecasting demand.
2. Intangibility: Hospitality and tourism services are intangible, meaning they cannot be touched or felt like a physical product. This characteristic affects strategic management practices in terms of marketing, branding, and customer experience.
4. Customer involvement: The industry is highly dependent on customer involvement, as customers are actively involved in the service experience. This characteristic affects strategic management practices in terms of customer service, employee training, and service design.
5. Interdependence: The hospitality and tourism industry is interdependent, meaning that different sectors of the industry rely on each other to provide a complete service experience. This affects strategic management practices in terms of collaboration, partnerships, and supply chain management.
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(b). Describe any three (3) kinds of systems that support the decision makers and the types of
decisions they make. (10 Marks)
The transactional support system, the management information system, and the decision support system are the three main categories of decision-making systems.
First, the transactional support system-
It includes all the data that is relevant to a particular business process or unit of work, and its main function is to facilitate the execution of routine operational or structured choices. Whether clients buy stocks, book a flight, or withdraw cash from an ATM, they are submitting transactional information.Second, Management Information system-
All organizational information falls under the category of management information, and its main function is to facilitate management analysis or semi-structured decision-making.Problems, market trends, sales, product data, and future growth projections are all identified and explained using analytical information.Thirdly, Decisions support system-
It would provide a digital dashboard for its clients using both transactional and analytical data. Analytics data including social , analytics, sentiment analysis, and competitive analysis are all provided in decision support system.To know more about Decision Making visit:
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Hi, please see attached screenshot thank you very much
Using the same format as the income statements provided, the contribution margin income statement for next year with expected sales of 30,000 units for each product would be:
Carvings
Mementos
Sales Variable costs
$ 1,200,000
960,000
$1,200,000
150,000
Contribution margin
840,000
1,050,000
Fixed costs
Income
125,000
$765,000
$925,000
How to explain the contribution marginIt should be noted tha the total sales revenue for each product decreases from $2,000,000 to $1,200,000 due to the decrease in sales volume. However, the unit selling price remains the same, so the variable cost per unit remains unchanged. As a result, the total variable costs for each product also decrease in proportion to the decrease in sales volume.
The contribution margin for Carvings decreases from $1,750,000 to $840,000, while the contribution margin for Mementos increases from $1,475,000 to $1,050,000. This is because Mementos have a higher contribution margin per unit, so a smaller decrease in sales volume has a smaller impact on the total contribution margin.
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registration of a firm is compulsory under partinarship act true or false
The statement Registration of a firm is compulsory under partnership act is false.
What is registration of a firm?Registration of a firm is not compulsory under the Partnership Act, 1932. However, it is recommended that the partnership firm should be registered to avail various benefits and protections provided under the Act.
Registration also provides legal recognition to the partnership firm as a separate legal entity.
Therefore we can conclude that the statement is false.
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On July 31, 2022, Blossom Company had a cash balance per books of $6,350.00. The statement from Dakota State Bank on that date showed a balance of $7,900.80. A comparison of the bank statement with the Cash account revealed the following facts. 1. 2. 3. 4. 5. 6. The bank service charge for July was $17.00. The bank collected $1,625.00 from a customer for Blossom Company through electronic funds transfer. The July 31 receipts of $1,306.30 were not included in the bank deposits for July. These receipts were deposited by the company in a night deposit vault on July 31. Company check No. 2480 issued to L. Taylor, a creditor, for $364.00 that cleared the bank in July was incorrectly entered in the cash payments journal on July 10 for $346.00. Checks outstanding on July 31 totaled $1,947.10. On July 31, the bank statement showed an NSF charge of $680.00 for a check received by the company from W. Krueger, a customer, on account.
Answer: The preparation of bank reconciliation is shown below! :D
(btw if this helped you, could you give me brainliest? :D)
Explanation:
Blossom Company
Bank Reconciliation Statement
July 31
bank statement balance $7,845.80
Add:
Deposits Outstanding: $1,349.30
Total of Additions: $1,349.30
Deduction:
Outstanding checks: $1,988.10
Total Deductions: $1,988.10
Adjusted bank balance: $7,207.00
Balance in books: $6,295.00
Additions
Collection of EFT: $1,675.00
Total Additions : $1,675.00
Deductions:
Incorrect recording
of check Number 2480 $9.00
($354 - $345)
Bank Service charges: $24.00
NSF Check: $730.00
Total Deductions: $763.00
Book balance adjusted: $7,207.00
25: equired: a. Journal Entries b. Cash Account 72 Supp Q. No. 9 Following transactions are given: Purchased goods worth Rs. 2,00,000 from Pant. Goods worth Rs. 6,000 returned to Pant. Purchased further goods worth Rs. 50,000 from Pant. Paid Rs. 2,40,000 to Pant in full settlement of Rs.2,44,000. equired: a Journal Entries b. Pant's Account 72 Set C Q.No. 9 Following transactions are given: PAID RS 240000 RO PANT IN FULL SETTLEMENT OF RS 244000
The journal entries for Pant's account would be:
Dr. Purchases 200,000
Cr. Pant 200,000
Dr. Pant 6,000
Cr. Purchase Returns 6,000
Dr. Purchases 50,000
Cr. Pant 50,000
Dr. Pant 244,000
Cr. Cash 240,000
Cr. Discount Allowed 4,000
The journal entries to the cash account would be:
Dr. Cash 240,000
Cr. Pant 244,000
How to make the journal entries ?When you purchase goods, you debit the Purchases account and credit the account of the supplier (in this case, Pant). This increases the Purchases account and creates a liability to pay Pant.
When you return goods to the supplier, you debit the supplier's account (Pant) and credit the Purchase Returns account. This transaction reduces the amount you owe to Pant and records the returned goods in the Purchase Returns account.
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