Willis and Adams’ staff prepared detailed ratio analysis, trends, and common size balance sheet and income statements based on EarthWear’s unaudited financial statements. The procedures you perform will analyze the results of the computations and assess the overall financial condition of EarthWear. Review the ratio analyses contained on Work Paper 5-1. You can read the Advanced Module: Selected Financial Ratios in Chapter 5 of the text for a description of these ratios.You will be asked to provide further analyses of these ratios as you complete Work Paper 5-2.

Answers

Answer 1

Financial managers employ a tool called common size analysis—also known as vertical analysis—to examine financial statements.

What is Types of Common Size Analysis?

There are two ways to analyze common sizes: vertically and horizontally.

Vertical analysis is the comparison of individual line items to a base item within the same financial period. For instance, using total assets as the base item, we can divide the inventory line in the balance sheet to determine the percentage of inventory.Horizontal analysis, on the other hand, refers to the analysis of specific line items and comparison to a similar line item in the previous or subsequent financial period. Even though trend analysis using ratios is more detailed, common size analysis gives financial managers a quick way to examine financial statements.

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Related Questions

What happens after the irs accepts your tax return?.

Answers

Answer:

First, they "stamp" the return with an electronic postmark, and then they will send it to the government.

Then you both wait 24 to 48 hours for the IRS to accept your return.

What are they doing? They are checking your personal information to make sure it matches their records.

If everything looks good, the IRS accepts your return.

Hope this helps..

Fill the Blank ? if a residual is negative, then that data point lies _________________ the regression line.

Answers

If a residual is negative, then that data point lies below the regression line.

In linear regression, residuals are the differences between the actual values and the predicted values of the response variable. A residual can be either positive or negative, depending on whether the actual value is greater or smaller than the predicted value. If a residual is negative, then the actual value is below the regression line, and if it is positive, then the actual value is above the regression line.

A negative residual indicates that the model underestimates the actual value, which means that the data point lies below the regression line. Understanding residuals is essential to assess the accuracy of the regression model and identify any outliers or influential data points that may affect the model's performance.

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True or false: All employees make an impact on a business.
5 points
True; all employees make a positive impact on a business
True; all employees make either a positive or negative impact on a business
False; only managers and supervisors make an impact on a business
False; only executives and board members make an impact on a business

Answers

Answer:

true; all employees make either a positive or negative impact on a business

Explanation:

What safety device should be worn when there is danger of fragments being thrown?

Answers

Answer:

gloves i think

Explanation:

Which of the following costs will be treated as period costs under absorption costing?
Rent for factory building
Sales commission paid on the sale of the product
Depreciation on factory equipment
Raw materials used in the production

Answers

Sales commission paid on the sale of the product will be treated as period costs under absorption costing.

Under absorption costing, all manufacturing costs, both variable and fixed, are included as part of the product cost and are allocated to units produced. These costs are considered inventory costs until the products are sold. On the other hand, period costs are expenses that are not directly associated with the production of goods and are treated as expenses in the period they are incurred.

Let's analyze each cost option:

Rent for factory building: Rent for the factory building is a fixed cost associated with the manufacturing facility. It is considered as part of the manufacturing overhead and is included in the product cost under absorption costing. It will not be treated as a period cost.Sales commission paid on the sale of the product: Sales commission is a cost incurred after the products are manufactured and sold. It is not directly related to the production process but rather to the selling and distribution of the products. Therefore, it is considered a period cost under absorption costing.Depreciation on factory equipment: Depreciation on factory equipment is a fixed cost associated with the manufacturing facility. Similar to rent, it is considered as part of the manufacturing overhead and is included in the product cost under absorption costing. It will not be treated as a period cost.Raw materials used in the production: Raw materials are directly involved in the production process and are considered part of the product cost under absorption costing. They are not treated as period costs.

In summary, the cost that will be treated as a period cost under absorption costing is the sales commission paid on the sale of the product. This cost is incurred after the manufacturing process and is associated with the selling and distribution of the products, rather than the production itself.

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use an optimization model to determine the best course of action for your real estate company, using the following assumptions: you wish to maximize the net present value of profit over the next eight quarters. assume 6% irr, compounding quarterly. (so 1.5% per quarter) in each neighborhood in which they open an office, they will achieve a baseline of 5.5% market penetration, and earn a 5% commission on sales. for every .1% the commission you charge decreases, your market penetration will increase by .15%, (down to a minimum penetration of 4% or a maximum of 6%) you must pay rent and utilities in each office you open each month. determine the average cost per gross square foot of commercial real estate in your neighborhood for the last year (in nyc historical). [when determining this value, you should exclude properties where gross square feet or sale price is unknown.] each month you will pay 1.5% of this for rent and utilities for each square foot of office space you rent. you must rent at least 250 square feet of office space, plus 125 for each employee you hire. you may hire up to 3 employees. each employee you hire costs a yearly salary $65,000 including benefits, and increases your market penetration by .5%. your monthly operating budget is $15,000. you may add other assumption you deem realistic so long you provide the explanation in your report.

Answers

The best course of action for the real estate company is to open offices in neighborhoods with higher market penetration and lower commercial real estate costs, hire up to 3 employees, and set commission rates to achieve maximum net present value of profit over the next 8 quarters while staying within the monthly operating budget of $15,000.

To optimize net present value of profit, the real estate company should analyze market penetration, commission rates, and real estate costs in each neighborhood to determine which locations will yield the highest profit.

The company should also hire up to 3 employees to increase market penetration while staying within the operating budget. The commission rate should be set to maximize profit while also taking into account the relationship between commission rates and market penetration.

The company should aim to rent office space in neighborhoods with low commercial real estate costs and high market penetration, and adjust the office space size to meet the minimum requirements while minimizing costs.

Finally, the company should regularly monitor and adjust its strategy to adapt to changing market conditions.

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Research the term "life settlement." Although not
illegal, it is thought to be unethical by life insurance
companies. Why do you think this is or isn't unethical? 

Answers

A life settlement is a legal agreement in which a policyholder sells his or her life insurance policy to a third party for a one-time payment.

The third party becomes the policy's beneficiary and assumes responsibility for its premiums.

Although a life settlement is not illegal, life insurance companies believe it is unethical for several reasons.

Life insurance firms regard life settlements as unethical for various reasons.

These reasons include:

Financial Losses for Insurance Companies:

When a policyholder sells their life insurance policy to a third party, they terminate their relationship with the insurance company.

This means that the insurance firm will no longer get future payments and will experience financial losses.

Legal Consequences: When insurance companies sell their policies, they use actuarial tables to calculate their premiums.

When policyholders sell their policies, the tables are no longer valid, and insurance companies are unable to predict how much money they will receive in premiums from the remaining policies.

The legal consequences of this include litigation and legal battles for damages.

Fraud: Fraudulent activities are frequently associated with life settlements.

Life settlements may be used as a way to defraud insurance companies, customers, and investors.

Policyholders may try to sell policies to third parties to defraud insurance companies, while third parties may misrepresent themselves as insurance agents.

This may result in a significant financial loss for all parties involved.

Bottom LineInsurance companies believe life settlements are unethical since they involve the sale of insurance policies to third parties.

It is not always unethical; it becomes unethical when policyholders, third parties, or insurance companies engage in fraudulent activities.

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You are trying to decide how to increase the amount you save. What could you do?
• When you get a pay raise, save the increase from each paycheck
• Each day drop your change in a jar and deposit it when the jar is full
. When you get a pay raise, save a portion of the raise from each paycheck
• Save any extra money that comes in such as birthday gifts or bonuses from work.
• Save any money that is left over at the end of each pay period.

Answers

Answer:

I would say All of the Above

Explanation:

Saving money can be done in many ways, in many styles. I hope this helps

1. Identify a true statement about a company's organizational culture
A. It represents the sum of all the policies and procedures from each of the functional departments in the organization.
B. It is governed by a set of laws and legal precedents and is closed to interpretation.
C. It consists of suggestions established in an organization on how to make fraudulent practices look legal.
D. It refers to the characteristic of publicly committing to the highest professional standards and sticking to that commitment.

Answers

The true statement about a company's organizational culture is: D. It refers to the characteristic of publicly committing to the highest professional standards and sticking to that commitment.

Organizational culture refers to the shared values, beliefs, customs, behaviors, and social practices that characterize a company or organization. It is the set of shared values and practices that shape the organization's decisions and actions, as well as the behavior of its employees and managers.

It refers to the characteristic of publicly committing to the highest professional standards and sticking to that commitment. The organizational culture of a company is built on a foundation of shared values, beliefs, and practices that inform its decisions and actions.

It involves adopting the highest professional standards and maintaining a commitment to them publicly. It is crucial to establish and promote a culture of excellence and integrity in an organization.

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Which of the following types of utility enhances value by creating more useful or desirable products out of raw materials or separate parts?

Answers

Answer:

Form.

Explanation:

Six Sigma is a quality business management strategy which helps business organizations to improve the quality of processes, products and services by discovering and eliminating defects, variations or errors. It is a strategic business concept that was developed in 1986 by Motorola.

Under the six sigma approach, any process that doesn't provide customer satisfaction or causes challenges in an organisation's process should be eliminated from the system in order to produce quality products and services.

Form is a type of utility that enhances value through the creation of more useful or desirable products from raw materials or separate parts, so as to meet the unending requirements or needs of the consumers. It refers to characteristics such as size, external dimensions, mass, visual appearance, and weight that uniquely distinguishes an assembly, component or part.

8
Select the correct answer.
Which area of engineering focuses on the design, construction, and maintenance of energy facilities?
ОА. .
chemical engineering
OB.
civil engineering
OC.
mechanical engineering
OD.
environmental engineering
Reset
Next

Answers

Answer:

civil engineer is the answer

which sentence best demonstrates an appropriate style for an argumentative essay?

Answers

An argumentative essay requires a clear and persuasive writing style to effectively present and support a particular viewpoint. Here's an example of a sentence that demonstrates an appropriate style for an argumentative essay:

"The implementation of stricter gun control laws is imperative to reduce the alarming rates of gun violence in our society, as evidenced by numerous studies and statistics highlighting the correlation between lax regulations and increased gun-related incidents."

In this sentence, the writer presents a strong claim ("the implementation of stricter gun control laws is imperative") and supports it by referring to credible evidence ("numerous studies and statistics highlighting the correlation between lax regulations and increased gun-related incidents"). The sentence uses a persuasive tone to convey the writer's viewpoint on the topic. The language is clear, direct, and objective, relying on facts and research to support the argument.

An argumentative essay should strive to maintain a balanced and respectful tone, while presenting logical reasoning, evidence, and counterarguments.

Therefore, It is essential to avoid personal attacks, emotional language, or biased statements. Instead, the focus should be on presenting a well-structured and coherent argument that engages the reader and encourages critical thinking.


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Regarding resource typing, which of the following characteristics are typically use to categorize resources?A. LocationB. ColorC. Number availableD. Capability

Answers

Answer:

d

Explanation:

also because I do it lol

adens corporation's relevant range of activity is 2,000 units to 6,000 units. when it produces and sells 4,000 units, its average costs per unit are as follows: average cost per unit direct materials $ 6.25 direct labor $ 2.80 variable manufacturing overhead $ 1.55 fixed manufacturing overhead $ 2.40 fixed selling expense $ 0.50 fixed administrative expense $ 0.40 sales commissions $ 1.00 variable administrative expense $ 0.50 if 5,000 units are sold, the variable cost per unit sold is closest to:

Answers

The variable cost per unit sold is closest to $5.35.

This can be calculated by taking the sum of the variable costs per unit ($6.25 + $2.80 + $1.55 + $0.50 + $0.40 + $1.00 + $0.50) and dividing it by the number of units (5,000).

Aden's Corporation's relevant range of activity is 2,000 units to 6,000 units, and when it produces and sells 4,000 units, its average costs per unit are:

Direct materials: $6.25Direct labor: $2.80Variable manufacturing overhead: $1.55Fixed manufacturing overhead: $2.40Fixed selling expense: $0.50Fixed administrative expense: $0.40Sales commissions: $1.00Variable administrative expense: $0.50

Therefore, the variable cost per unit sold if 5,000 units are sold is closest to $5.35.

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Explain how and why a manufacturer of ice cream products should be ‘market orientated ’.

Answers

Answer:

A market-oriented ice cream manufacturer focuses on meeting customer needs and preferences. This involves conducting market research to determine what flavors, packaging, pricing, and features are appealing to their target audience. Regularly seeking feedback from customers helps them make necessary changes. Being market-oriented helps manufacturers stay competitive, build brand loyalty, and ensure customer satisfaction.

Kulfi is a popular South Asian, ice cream made with boiled milk typically from water buffalo. It comes in many flavors, including pistachio, malai, mango, cardamom (elaichi), and saffron (kesar). Kulfi differs from western ice cream in that it is richer in taste and creamier in texture. As well, where western ice creams are whipped with air or overrun, kulfi contains no air; it is solid dense frozen milk.

What is profit in an economic system?
A. Profit is the investment a producer makes in the economy to achieve financial gain.
B. Profit is the net change in the value of the economy due to an exchange.
C. Profit is the financial gain resulting from an exchange.
D. Profit is the investment a consumer makes in the economy to achieve financial gain.

Answers

Answer:

I think D is correct answer

The profit in the economic system is the investment made by the consumer for accomplishing the financial gain.

The information related to the profit is as follows:

It is the surplus that comes after deducting the cost from the revenue made. It is the investment that should be made by the consumer for attaining financial gain.

Therefore all the other options are incorrect.

Thus we can conclude that profit in the economic system is the investment made by the consumer for accomplishing the financial gain.

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discuss and explain the difference between secure and open correctional facilities.

Answers

The main difference between secure and open correctional facilities is the level of security and restrictions placed on the inmates. Secure facilities have higher levels of security and restrictions, while open facilities have lower levels of security and more opportunities for inmates to participate in activities and programs.

Secure and open correctional facilities are two types of institutions used to detain individuals who have been convicted of crimes.

Secure correctional facilities are typically high-security prisons that are designed to hold individuals who have committed serious crimes, such as murder or armed robbery. These facilities have strict rules and regulations, and the inmates are closely monitored by corrections officers. The inmates are generally housed in individual cells and have limited interaction with other inmates.

On the other hand, open correctional facilities are designed for inmates who are considered low-risk and have committed non-violent crimes. These facilities are less secure than their counterparts, and the inmates are usually housed in dormitory-style living arrangements. Inmates in open correctional facilities often have more freedom to move around and participate in programs such as work release and educational opportunities.

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Budgetary slack occurs when a manager submits a budget that is ______.

Answers

Answer:

Budgetary slack occurs when a manager submits a budget that is too easy to attain.

Explanation:

Hope that helps!

What are the equilibrium price and quantity of yo-yos?
Price Qd Qs
$1 100 10
$2 80 35
$3 60 60
$4 40 85
$5 20 110

Answers

3 dollars as qd =qs no surplus or shortage

What kind of promotional activity is a gala dinner in support of cancer patients? A. advertising B. group sales C. personal selling D. public relations E. sales promotion

Answers

The kind of promotional activity used when a gala dinner is used to support the cancer patients is known as public relations. The Option D is correct.

What is public relations as promotional activity?

Basically, a promotional activities refers to those techniques that marketing teams use to increase an awareness of their brand, products and services. This helps company to attract new customers, retain current customers and increase their company's revenue.

A public relations, as part of these activities include dialog as we must listen to the others, to see things through their perspective. This is made with the purpose to be useful for every organization, not for the sensational promotion of its achievements, but to become more critical towards its work.

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sove 3logx + 5 is equal to 8​

Answers

♥️♥️♥️♥️♥️♥️♥️♥️♥️♥️♥️♥️♥️♥️

\(3 log(x) + 5 = 8\)

Subtract sides 5

\(3 log(x) + 5 - 5 = 8 - 5\)

\(3 log(x) = 3\)

Divide sides by 3

\( \frac{3 log(x) }{3} = \frac{3}{ 3} \\ \)

\( log(x) = 1\)

_________________________________

Reminder :

\( log_{a}(x) = b\)

\(x = {a}^{b} \)

_________________________________

Thus ;

\( log_{10}(x) = 1\)

\(x = {10}^{1} \)

\(x = 10\)

Done...

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The 5 elements that affect customers perception of service quality. 1) reliability 2) appearance of the tangibles 3) responsiveness 4) assurance 5) employee empathy

Answers

These five elements work together to create a perception of service quality that can make or break a business.

When it comes to customer service, there are several factors that influence the perception of service quality. One of the most important of these factors is reliability. This refers to the consistency with which the company delivers on its promises and meets customer expectations. Customers want to be able to trust that the service they receive will be of a high quality every time they interact with the company.
Another important factor is the appearance of the tangibles. This includes the physical environment of the business, as well as any materials or products that are provided to customers. A clean, attractive, and well-maintained environment can go a long way in making customers feel comfortable and confident in the service they receive.
Responsiveness is also a key element in customer service. This refers to the speed with which the company responds to customer inquiries, concerns, and requests. Customers want to feel that their needs are being addressed quickly and effectively.
Assurance is another factor that influences customer perceptions of service quality. This includes the knowledge and expertise of the employees, as well as any guarantees or warranties that are offered. Customers want to feel that they are in good hands and that their needs are being taken seriously.
Finally, employee empathy is an important element in customer service. This refers to the ability of employees to understand and relate to the needs and concerns of their customers. When employees are empathetic and caring, customers are more likely to feel valued and satisfied with the service they receive.
By focusing on reliability, tangibles, responsiveness, assurance, and empathy, companies can create a customer service experience that is consistently high-quality and keeps customers coming back for more.

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Open Question– For the following companies, draft a formal response to the assessment question raised, justifying and arguing your answers.
Companies
a) Kickstarter (https://www.kickstarter.com/) b) Github (https://github.com/)
c) Starbucks (https://www.starbucks.com/)
Question
1) Are the companies a digital business? If the answer is affirmative, justify it; if it is negative, identify and describe what they need to do to become one

Answers

Kickstarter and Github are digital businesses that use technology and online interactions for crowdfunding and software development. Starbucks uses digital tools but its main business model is physical retail, so it is not primarily a digital business.

a) Kickstarter (https://www.kickstarter.com/):

Kickstarter can be considered a digital business. It operates as a platform that connects creators and innovators with potential backers who provide funding for various projects. The entire business model of Kickstarter relies on digital technology and the internet to facilitate crowdfunding campaigns.

The platform is accessed and utilized primarily through its website, where users can create projects, showcase their ideas, and engage with backers. Kickstarter's digital nature is evident in its core operations, which involve online transactions, communication, and project management.

The platform enables creators to leverage digital tools and social media integration to promote their projects and attract backers. Moreover, Kickstarter's digital infrastructure enables global accessibility, allowing individuals from different parts of the world to participate in funding projects.

b) Github (https://github.com/):

Github is unquestionably a digital business. It operates as a web-based platform that provides hosting for software development projects using Git version control. The entire business model of Github revolves around digital collaboration, code management, and software development practices.

Github's platform allows developers to store, share, and collaborate on code repositories through a cloud-based infrastructure. It provides version control functionalities, issue tracking, code review tools, and project management features that are all accessible online.

Developers can contribute to projects remotely, fork repositories, suggest changes, and track progress, all within the digital environment offered by Github.

The core operations of Github are based on digital technologies, utilizing web interfaces, APIs, and integrations with other developer tools. It enables global collaboration, fostering open-source initiatives and facilitating software development projects worldwide.

c) Starbucks (https://www.starbucks.com/):

Starbucks, on the other hand, is not primarily a digital business. While the company does have a digital presence through its website and mobile applications, its core business model revolves around physical retail locations and the sale of coffee and related products in brick-and-mortar stores.

Although Starbucks has embraced digital technologies to enhance customer experiences and streamline operations, its primary revenue stream comes from in-store purchases. The digital platforms offered by Starbucks, such as its website and mobile apps, primarily serve as marketing tools, providing information about products, store locations, and loyalty programs.

For Starbucks to become a fully digital business, it would need to shift its focus towards online sales, digital delivery services, or a virtual retail model. This would require a fundamental restructuring of its operations, logistics, and customer engagement strategies, where the digital channel becomes the primary avenue for conducting transactions and providing services.

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In calculating net cash provided by operating activities using the indirect method, an increase in prepaid expenses during a period is:.

Answers

When calculating net cash provided by operating activities using the indirect method, an increase in prepaid expenses during a period is added to net income.

This is because an increase in prepaid expenses means that the company has paid for expenses in advance, which will result in a reduction in expenses in the future. Therefore, this increase in prepaid expenses should be subtracted from net income to determine the cash flows from operating activities.

It is important to note that the indirect method is used to convert the accrual basis accounting income statement into a cash basis accounting statement. This method adjusts for non-cash items such as depreciation, amortization, and changes in working capital accounts such as prepaid expenses.

The purpose of the indirect method is to provide a more accurate picture of the company's cash flows from operating activities, which is a critical component of financial analysis. Overall, an increase in prepaid expenses should be accounted for in the indirect method as an adjustment to net income when calculating net cash provided by operating activities.

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When making decisions, managers often must decide between doing what is beneficial for the firm in the short term, and what is beneficial for both the firm and society in the long term. To address this conflict, a firm must

Answers

When making decisions, managers are often faced with a conflict between what is beneficial for the firm in the short-term and what is beneficial for both the firm and society in the long-term.

This conflict arises because the actions that benefit the firm in the short-term may not necessarily align with the interests of society as a whole, which can lead to negative consequences for both the company and society in the long-term.

To address this conflict, a firm must adopt a long-term orientation and consider the broader social and environmental impacts of its decisions. This means looking beyond immediate financial gains and recognizing that actions taken today can have far-reaching implications for the company's reputation, customer loyalty, employee morale, and overall sustainability.

Firms that prioritize social responsibility and sustainable business practices are more likely to build strong relationships with stakeholders, including customers, employees, investors, and regulators. They are also better equipped to weather economic downturns and other disruptions, as they have diversified their risk and invested in building resilient supply chains and communities.

Ultimately, the key to addressing the conflict between short-term gains and long-term benefits is a commitment to corporate social responsibility (CSR) and sustainable business practices. By prioritizing the needs of society and the environment alongside those of shareholders, firms can create value for all stakeholders over the long-term, ensuring their continued success and impact.

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pxg co. has total assets of $10,400,000 and a total asset turnover of 2.54 times. assume the return on assets is 12 percent. what is its profit margin? (do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Answers

PXG Co. has $10,400,000 in total assets and a total asset turnover of 2.54. Suppose the asset return is 12 percent. Its profit margin is 4.72%.

How is the profit margin calculated?

The profit margin of a business is calculated as the profit (sales less all costs) divided by the revenue. By comparing profit to sales, the profit margin ratio illustrates how effectively a business is managing its overall finances. Every time, it is expressed as a percentage.

Profit margin is calculated by multiplying revenue by profit (by 100). A net profit margin and a gross profit margin are the two types of profit margins (smaller).

We need the net income and sales in order to calculate the profit margin. We can calculate sales using total asset turnover, and net income using return on assets. Starting with the whole asset turnover, we discover that sales are:

Total asset turnover = Sales / Total assets

2.54 = Sales / $10,400,000

Sales = $26,416,000

As for the net income:

ROA = Net income / Total assets

0.12 = Net income / $10,400,000

Net income = $1,248,000

Now that we have the profit margin, it is:

Profit margin = Net income / Sales

Profit margin = $1,248,000 / $26,416,000

Profit margin = 0.0472 or 4.72%

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Which example is an economic property but not a law?
"No stealing."
"Buy low and sell high."
"All exchanges must benefit both parties."
"Consumers and producers must agree on prices."

Answers

Answer:

The correct option is;

Buy low and sell high

Explanation:

To "buy low and sell high" is a market strategy that involves the idea of buying stocks or goods or other financial instruments, when the market value is at the lowest, and sell when the prices are high or at their peak

That is a profit is made when traders buy stocks or goods at a price lower than they sell

The idea to buy low and sell high is aptly applied to stock market trading that have cycles of high and low prices. But it is also very much applicable to real estate and property, as these are more tangible items although they operate sometimes at a smaller scale.

Answer:

B) "Buy low and sell high."

Explanation:

i took the test and it was correct :))

In order to encourage the wine production industry, the italian government provided low-interest loans for the purchase of equipment and plants. The government also gave cash grants and made tax reductions. Which instrument of trade policy is being used by the italian government?.

Answers

Along with providing grants in cash, the government also lowered taxes. Which trade policy tool the Italian government is employing is subsidies.

What are the two ways that a government can intervene in trade to further its foreign policy goals?

Governments can influence commerce through a wide range of instruments, such as: Tariffs, which act as a tax on imported goods and shield native businesses from international competition.  Low interest loans, tax breaks, or cash gifts are examples of subsidies.

What are some strategies that governments can use to defend domestic manufacturers against foreign competition?

Protectionism is the practice of defending domestic industries against foreign competition by the imposition of tariffs, subsidies, import quotas, and other barriers to their products.

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for which of the following topics is accounting under both u.s. gaap and ifrs essentially the same? multiple choice inventory research and development expenditures long-term assets receivables

Answers

One of the topics for which accounting under both US GAAP and IFRS is essentially the same is Receivables. The correct option is A.

What is Receivables?

Receivables refer to money owed to a business from customers or clients who have purchased goods or services from it on credit. Accounts receivable is a current asset account that is presented on a company's balance sheet.

It indicates the amount of money owed to the company by customers or clients for goods or services that have been delivered or used but have yet to be paid for by the buyer. Under US GAAP and IFRS, the accounting for receivables is essentially the same. The basic principles of accounting for receivables under both systems are similar.

They both require the recognition of accounts receivable when a company has earned revenue by providing goods or services to a customer on credit or by financing the customer's purchase, and the payment is expected to be received in the future.

However, there are certain differences in the presentation of accounts receivable and how they are valued under US GAAP and IFRS. These variations include the use of the allowance method for bad debts, the recognition of factoring transactions, and the presentation of receivables in the balance sheet.

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complete question

For which of the following topics is accounting under both U.S. GAAP and IFRS essentially the same?

a. Receivables.

b. Long-term assets.

c. Inventory.

d. Research and development expenditures.

The balance on a credit card, that charges a 20%
APR interest rate, over a 1 month period is given in
the following table:
Days 1-5: $200 (initial balance)
Days 6-20: $350 ($150 purchase)
Days 21-30: $150 ($200 payment)
What is the finance charge, on the average daily
balance, for this card over this 1 month period?
finance charge = $ [?]
Round to the nearest hundredth.
Enter

Answers

The balance on a credit card, that charges a 20% APR interest rate, the Finance charge is given as

$4.3055

This is further explained below.

What is the APR interest rate?

Generally, The interest rate that is applied to a loan, mortgage loan, credit card, etc. is referred to as an annual percentage rate of charge, which sometimes corresponds to a nominal APR and sometimes corresponds to an effective APR.

The annual percentage rate of charge is the interest rate for the entire year, as opposed to just a monthly fee or rate. It is a fee for financing that is presented in the form of an annual rate.

Interest rate APR = 12%

Average balance = ((200*5)+(350*15)+(150*10))/30

Average balance = $258.33

Average balance*APR/12

Finance charge =\(\frac{258.33*20 \%}{12 }\)

Finance charge = $4.3055

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