What are the two serious problems of traditionalist account?​

Answers

Answer 1

Answer:

math promlem and science problem

Answer 2
Problems with traditional accounting practices include inaccurate and ineffective performance measurement on businesses operating in non-conventional ways. Over time, traditional accounting practices need to adjust to match changing characteristics of the business they measure.

Related Questions

By evaluating cost and benefits using competitive market prices, we can determine whether a decision will make the firm and its investors wealthier. This central concept is called:

Answers

Answer:

valuation principle

Explanation:

The basis concept behind the valuation principle is that the value of an asset is determined by the market. If an investor is evaluating any type of new project, he/she must use market prices in order to determine whether this new project will make him/her wealthier. E.g. the price of art works is determined by the amount of money that someone is willing to pay for it, not by the fact that you like it or not.

what are the three most important ethical principles that you feel organizations should adhere to in terms of their staffing philoshophies

Answers

Answer:

fairness, honesty,  integrity

Explanation:

The three most important ethical principles that should guide all organizational activities are fairness, honesty and integrity. Currently we live in a globalized and multicultural business scenario, where there is an intense flow of information and a lot of competitiveness, so it is necessary that organizations seek to adapt their strategic planning to this new reality, where corporate governance is an essential parameter of relationship with a company by many stakeholders.

The fairness, honesty and integrity of the company will help it to maintain an internal environment focused on the development of skills and an organizational culture based on ethics and respect for all employees, regardless of their individual values ​​or hierarchical position. These ethical principles will also help the organization to have a good image in the market, to attract greater reliability and transparency in the processes.

Dilts Company has a unit selling price of $650, variable costs per unit of $460, and fixed costs of $326,800. Compute the break-even point in units using (a) the mathematical equation and (b) unit contribution margin.

Answers

Answer:

a.  1,720 units

b.  1,720 units

Explanation:

Breakeven Point is the level at which a company makes neither a profit nor a loss, therefore, the Profit will be $0 at this point.

(a) the mathematical equation

Profit = Contribution - Fixed Cost

$0 = ($650 - $460) × units sold - $326,800

Units Sold = $326,800 ÷ ($650 - $460)

                  = 1,720 units

(b) unit contribution margin

Break even Point (units) = Fixed Costs ÷ Contribution per unit

                                        = $326,800 ÷ ($650 - $460)

                                        = 1,720 units

Tampa Tribune's dominant strategy is ____________ (low price, high price, it has no dominant strategy).

Answers

Answer:

Low price

Explanation:

Tampa tribune dominant strategy is low price. If the company keeps its prices high it can get maximum revenue of $88 whereas if the company keeps its prices low it can make maximum revenue of $120. The difference of $32 is gained when the prices are kept and this is dominant strategy for Tampa Tribune.

Look up the names of the largest contractors reported by ENR in its three main categories: Heavy and highway, nonresidential building, and multiunit housing. Notice that the list also includes their ranking for the previous years. Were the contractors the largest the previous year?

Answers

Answer:

1. Bechtel, Reston, Va - Heavy and Highway

2. Fluor Corp, Irving, Texas - Multiunit housing

3. Turner Corp, New York - Non Residential Building

Explanation:

Engineering News Record (ENR) is the American magazine which is widely used by analysts and businessmen. This magazine is considered for its reliability and this is considered as most authoritative publication. It ranks the contractors in different categories. The rankings of the magazine may be different for the contractors every year.

Process cost systems are used in all of the following industries except: Oil refining. Steel. Home building. Chemicals. Textiles.

Answers

Answer:

Ship building

Explanation:

As the process of the ship building includes the different kind of activities that are complex also the volume are so big also each one would be customized according to the customer needs and considered as a distinct job

So as per the given situation the process cost system would not be used for the ship building

And for the other industries it should be used

Bill Matthews is investing $8,800 in the Washington Mutual fund. The fund charges a 4.80 percent commission when shares are purchased. Calculate the amount of commission Bill must pay.

Answers

Answer:

Commission= $422.4

Explanation:

Giving the following information:

Initial investment= $8,800

Commission rate= 4.8% = 0.048

To calculate the commission paid, we need to use the following formula:

Commission= initial investment*commission rate

Commission= 8,800*0.048

Commission= $422.4

Consider a 10-year bond with a face value of $1000 that has a coupon rate of 5.5%, with semiannual payments. a. What is the coupon payment for this bond

Answers

Answer:

Coupon= $27.5

Explanation:

Giving the following information:

Face value= $1,000

Coupon= semiannual payments

Coupon rate= 0.055/2= 0.0275

To calculate the semiannual payment, we need to use the following formula:

Coupon= face value*coupon rate

Coupon= 1,000*0.0275

Coupon= $27.5

The term _____ indicates that the product is novel to the individual who made it, but known to everyone else. Group of answer choices

Answers

Answer: Reinvention

Explanation:

The term that indicates that the product is novel to the individual who made it, but known to everyone else is referred to as reinvention.

Reinvention is the action whereby q particular product is changed and that product appears to be a new product entirely.

he 2014 balance sheet of Jordan’s Golf Shop, Inc., showed long-term debt of $2.7 million, and the 2015 balance sheet showed long-term debt of $2.95 million. The 2015 income statement showed an interest expense of $140,000. The 2014 balance sheet showed $460,000 in the common stock account and $3.2 million in the additional paid-in surplus account. The 2015 balance sheet showed $500,000 and $3.5 million in the same two accounts, respectively. The company paid out $500,000 in cash dividends during 2015. Suppose you also know that the firm’s net capital spending for 2015 was $1,320,000, and that the firm reduced its net working capital investment by $59,000. What was the firm’s 2015 operating cash flow, or OCF? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, e.g., 1,234,567.)

Answers

Answer: $1,311,000

Explanation:

Operating Cashflow = Cashflow from Assets + Capital spending + changes in Net working capital

Cashflow from Assets = Cashflow to Creditors + Cashflow to Stakeholders

Cashflow to Creditors = Interest paid - Change in long term debt

=  140,000 - (2,950,000 - 2,700,000)

=  -$110,000

Cashflow to Stakeholders

= Dividends paid - New equity issue

= 500,000 - ((500,000 + 3,500,000) - (460,000 + 3,200,000))

= $160,000

Cashflow from Assets = -110,000 + 160,000

= $50,000

Operating cashflow = 50,000 + 1,320,000 + (-59,000)

= $1,311,000

Gary decides to start his own business. His next best alternative was to accept a job with a different company that would have paid him $60,000 per year. During its first year of operation, Gary's new business brings in $300,000 in total revenue at a total accounting cost of $230,000. What was Gary's economic profit during his first year in business?

Answers

Answer:

$10,000

I think

Explanation:

Gloria just started working for GlenMack. As part of her signing bonus, she received 20 shares of GlenMack stock. Gloria is excited to contribute to the company and to track the value of her shares on the New York Stock Exchange. GlenMack must be:

Answers

Answer:

Public Company

Explanation:

In the given case, since it is mentioned that Gloria working for GlenMack now as a part of the signing bonus she received twenty shares from the stock of GlenMack now she is excited to contribute to the company and also wants to track the shares value on the new york stock exchange so here the Glenmust must be public company as the stock are listed on the stock exchange

So the same is to be relevant

Indicate the Debits and Credits for the following:

Depreciation for the period was $100,000 of which $12,000 is related to the factory building and equipment while the remaining and $88,000 is related to the headquarters office building.

Answers

Answer:

Debit: Depreciation expense      100000

Credit: Accumulated depreciation - Factory building & equipment     12000

Credit: Accumulated depreciation - Office building        88000

Explanation:

The following double entry will be passed to record the given transaction in the question.

Depreciation expense     100000 Dr

     Accumulated depreciation - Factory building & equipment     12000 Cr

     Accumulated depreciation - Office building        88000 Cr

So we can tell from this entry that depreciation expense will be debited and the accumulated depreciation account for factory building and equipment and accumulated depreciation account for office building will be credited.

Marigold Inc. purchased land at a price of $29,900. Closing costs were $2,650. An old building was removed at a cost of $12,030. What amount should be recorded as the cost of the land

Answers

Answer:

$44,580

Explanation:

Given that ;

Purchased price = $29,900

Closing costs = $2,650

Cost of removing old building = $12,030

The amount that should be recorded as the cost of the land

= Purchased price + Closing costs + Cost of removing the old building

= $29,900 + $2,650 + $12,030

= $44,580

The perimeter of a triangle is 8 + 13a + 7a' and the two of its sides are 2a'+3a +2 and
3a'-4a-1. then the third side of the triangle is
(1) 21a' + 7a+1)
(2) 2a + 14a +7
(3) a?-14a +7
(4) 2a' - 14a-7​

Answers

Answer:

(2) 2a + 14a +7

Explanation:

The Parameter is the sum of the length of all the sider of a shape. A triangle has three sides, so the parameter of a triangle is the sum of lengths of all the three sides of the triangle.

Following is the formula to calculate the parameter of a trinagle

Parameter = Length of first side + Length of second side +  Length of third side

where

Parameter = 8 + 13a + 7a'

Length of first side = 2a'+3a +2  

Length of second side = 3a'-4a-1

Placing values in the formula

8 + 13a + 7a' = ( 2a'+3a +2 ) + ( 3a'-4a-1 ) + Length of third side

8 + 13a + 7a' = 2a'+3a +2 + 3a'-4a-1 + Length of third side

8 + 13a + 7a' = 5a'-a +1 + Length of third side

Length of third side = (8 + 13a + 7a') - ( 5a'-a +1 )

Length of third side = 8 + 13a + 7a' - 5a' + a - 1

Length of third side = 7 + 14a + 2a'

Length of third side = 2a' + 14a + 7

Which of the following is not correct? Group of answer choices Natural monopolies are often subject to regulation. Public ownership is the most common and effective public policy toward monopolies in the United States. Sometimes the best public policy toward a monopoly is to do nothing. Antitrust laws may prevent mergers that would actually raise social welfare.

Answers

Answer: Public ownership is the most common and effective public policy toward monopolies in the United States

Explanation:

A natural monopoly is a monopoly that occurs as a result of the company having an economies of scale and also due to the huge amount of money required for its investment. These monopolies are subject to regulation.

Also, sometimes the best public policy toward a monopoly is to do nothing. Lastly, antitrust laws may prevent mergers that would actually raise social welfare.

Therefore, based on the question asked, the answer is option B.

An obese man in New York sued McDonald's, Burger King, Wendy's, and KFC because he claims the f gast-food giants caused his diabetes and other health problems. The suit is an example of a problem caused by competitive factors. True False

Answers

Answer:

False

Explanation:

Usually competitive factors include things like price, product quality, service quality, place or location, etc. But this lawsuit is part of the environmental factors that the different companies face. More specifically it involves legal factors and regulations that must be faced by a company.

If the owner contributes $19,400 and net income is $15,900, how much did the owner withdraw (owner, withdrawals)

Answers

Answer:

The owner withdrew $8,300

Explanation:

As per given Data

_______________ Assets ____Liabilities

Beginning of Year: $25,000 ___$17,000

End of Year: _____$62,000 ___$27,000

First, we need to the Beginning and Ending Equity value using following formula

Equity = Assets - Liabilities

Beginning Equity = Beginning Assets - Beginning Liabilities

placing values in the formula

Beginning Equity = $25,000 - $17,000 = $8,000

Ending Equity = Ending Assets - Ending Liabilities

placing values in the formula

Beginning Equity = $62,000 - $27,000 = $35,000

Now use the following formula to calculate the amount of drawing

Ending Equity = Beginning Equity + Contribution + Net Income - Owner withdrawal

Placing values in the formula

$35,000 = $8,000 + $19,400 + $15,900 - Owner withdrawal

$35,000 = $43,300 - Owner withdrawal

Owner withdrawal = $43,300 - $35,000

Owner withdrawal = $8,300

Marginal cost is ________ average variable cost when ________. A) equal to; average total cost is minimized B) less than; total cost is maximized C) greater than; average fixed cost is minimized D) equal to; average variable cost is minimized

Answers

Answer:

D) equal to; average variable cost is minimized

Explanation:

Marginal cost is equal to average variable cost when average variable cost is minimized.

The relationship between marginal cost and average variable cost is identical to the relationship between marginal cost and average cost. Marginal cost is a cost of an extra unit and an average variable cost is a per-unit cost as the average is equal to extra unit cost when the average is minimum so the MC=AVC at a minimum of AVC.

At December​ 31, ​, Products has cash of ​, receivables of ​, and inventory of . The​ company's equipment totals . owes accounts payable of and​ long-term notes payable of . Common stock is .

Answers

Complete Question:

At December 31, 2018, Thompson Products has cash of $23,000. receivables of $15,000, and inventory of $78,000. The company's equipment totals $181.000. Thompson owes accounts payable of $20,000 and long-term notes payable of $174,000. Common stock is $33.500. Read the requirement. Start with the heading and then complete the assets section of the statement. Finally complete the liabilities and stockholders' equity section of the statement. (Classify the balance sheet by selecting the proper title on all applicable subtotal lines. In the first part complete the assets section of the balance sheet. In the second part complete the liabilities and stockholders' equity section of the balance sheet. If a box is not used in the table leave the box empty: do not select a label or enter a zero.)

Answer:

Thompson Products

Thompson Products

Classified Balance Sheet

As of December 31, 2018:

Assets

Current Assets:

Cash                                           $23,000

Account receivables                     15,000

Inventory                                      78,000

Total current assets                 $116,000

Non-Current Assets:

Equipment                                $181,000

Total assets                            $297,000

Liabilities + Equity

Liabilities

Current Liabilities:

Accounts payable                   $20,000

Long-term Liabilities:

Long-term notes payable     $174,000

Total liabilities                       $194,000

Equity:

Common stock     $33,500

Retained earnings 69,500 $103,000

Total liabilities + equity      $297,000

Explanation:

a) Data and Calculations:

Cash                                           $23,000

Account receivables                  $15,000

Inventory                                    $78,000

Equipment                                $181,000

Total assets                            $287,000

Accounts payable                    $20,000

Long-term notes payable      $174,000

Common stock                        $33,500

Retained earnings (missing)  $69,500

Total Liabilities + Equity       $297,000

b) Typically, a balance sheet is classified into Assets, Liabilities, and Owners' Equity in accordance with the accounting equation.  Each category is made up of current and non-current, with the exception of the owners' equity, which is made up of owners' capital and retained earnings.  According to the accounting equation, assets = liabilities + equity.  And this equation holds true for each business transaction.

Which of the following tips can help you engage the audience as you speak?
A. Budgeting time
B. Using notecards
C. Speaking quietly
D. Eye contact

Answers

Answer:

D. Eye Contact

Explanation:

The answer D. Eye contact because that is an essential thing to help you engage with your audience when you are doing a speech.

Answer:

D. eye contact

Explanation:

on edge

Sue purchased a stock for $25 a share, held it for one year, received a $1.34 dividend, and sold the stock for $26.45. What nominal rate of return did she earn

Answers

Answer:

11.16%

Explanation:

Calculation for What nominal rate of return did she earn

Nominal rate of return= ($26.45 + 1.34 − 25) / $25

Nominal rate of return= 0.1116*100

Nominal rate of return=11.16%

Therefore the nominal rate of return that she earn is 11.16%

Suppose the price level and value of the U.S. dollar in year 1 are 1 and $1, respectively. Instructions: Enter your answers rounded to 2 decimal places. a. If the price level rises to 1.10 in year 2, what is the new value of the dollar

Answers

Answer:

the new value of the dollar is $0.91

Explanation:

a. The computation of the new value of the dollar is given below:

= Dollar ÷  increase  in price

= $1 ÷ 1.10

= $0.91

Hence, the new value of the dollar is $0.91

It could be determined by applying the above formula so the new value of the dollar could be come and in correct way

g Rushing had net income of $240 million and average total assets of $2,000 million. Its return on assets (ROA) is:

Answers

Answer:

0.12

12%

Explanation:

Return on Asset = Net income / average total asset

$240 million / $2000  million = 0.12 =12%

Sage Inc. purchased land, building, and equipment from Laguna Corporation for a cash payment of $384,300. The estimated fair values of the assets are land $73,200, building $268,400, and equipment $97,600. At what amounts should each of the three assets be recorded

Answers

Answer: See explanation

Explanation:

The following can be calculated from the information given:

Total Asset Fair Value which will be:

= Land + Building + Equipment

= 73200 + 268400 + 97600

= $439200

Recorder Amount will now be:

Land = 73200 / 439200 × 384300

Land = 64050

Building = 268400 / 439200 × 384300

Building = 234850

Equipment = 97600 / 439200 × 384300

Equipment = 85400

The most important source of oligopoly is: economies of scale. government-created barriers. technological superiority. all of the above.

Answers

Answer:

economies of scale

Explanation:

Economies of scale are the result of increasing returns to scale, this means that the higher the output, the lower the production costs per unit. This means that large producers will have an advantage over smaller producers which will eventually allow them to make more profits and sell at lower prices. After a while, only large producers that are able to manufacture goods at a low price will exist, e.g. car manufacturers.

A student has inherited $50,000. If it is placed in asavings account that earns 3% interest, how much isin the account in 30 years

Answers

Answer:

$121,363

Explanation:

The amount in 30 years is known as the Future Value (FV) . We arrive at this figure by compounding the Present Value using the interest earned on the savings as follows :

PV =  $50,000

P/yr = 1

N = 30

PMT = $ 0

i = 3 %

FV = ?

Using a Financial calculator to enter the amounts as shown above, the FV can be determined as $121,363

Fulton Company owns the following investments: Trading securities (fair value) $160,000 Available-for-sale securities (fair value) 70,000 Held-to-maturity securities (amortized cost) 94,000 Fulton will report investments in its current assets section of

Answers

Answer:

the investment should be reported in the current asset section for $16,0000

Explanation:

The computation of the current asset section that report the investment is shown below:

= Investment value

= Fair value of the trading securities

= $160,000

Hence, the investment should be reported in the current asset section for $16,0000

The same is relevant and considered too

On December 29, 2022, James Company sold a debt security that had been purchased on January 4, 2021. James owned no other debt securities. An unrealized holding loss was reported in the 2021 income statement. A realized gain was reported in the 2022 income statement. Was the debt security classified as available-for-sale and did its 2021 market price decline exceed its 2022 market price recovery

Answers

Answer: No; No.

Explanation:

A debt security is referred to as a debt that can be either purchased or sold in the market between the parties involved before such debt matures.

In this scenario, we should note that the debt security was not classified as available-for-sale and also the 2021 market price decline did not exceed more than the 2022 market price recovery.

Therefore, the answer is No; No

Prices tend to be sticky because Multiple Choice government controls most prices. foreign competition discourages domestic firms from price changes. firms are worried that frequent price changes would annoy consumers. most firms have agreements with each other to fix prices at profit-maximizing levels.

Answers

Answer:

firms are worried that frequent price changes would annoy consumers.

Explanation:

A price is said to be sticky when there are resistance in market price to change immediately even when changes in the economy of a particular country entails differing price of products is optimal.

In Economics, when there are monetary disturbances and a great level of macroeconomic factors in the economy of a particular country, this usually result in prices of goods and services being sticky.

Hence, prices tend to be sticky because firms are worried that frequent price changes would annoy consumers. This ultimately implies that, price stickiness arises due to the fact that business firm or entity are very much concerned or worried that a frequent change in the price of goods and services would make the consumer annoyed.

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