Question One The cost of plant in use with Hand Sanitizer Ltd (Hand Sanitizer), a manufacturing firm on 1st April 2018 was GH₵375,000 against which the accumulated depreciation stood at GH₵157,500 on that date. The firm provided depreciation at 30% of the diminishing value. On 31st December 2018 two plants costing GH₵22,500 and GH₵18,000 respectively, both purchased on 1st October 2015, had to be discarded because of damages and had to be replaced by two new plants costing GH₵30,000 and GH₵22,500 respectively. One of the discarded plants was sold for GH₵12,000, against the other it was expected that GH₵4,500 would be realisable. Required: Show the relevant accounts in the ledger of Hand Sanitizer for the year ended 31st March 2019. (7 mark
Answer:
Hand Sanitizer Ltd
Relevant Ledger Accounts for the year ended 31st March 2019:
a) Plant Account
Date Description Debit Credit
GH₵ GH₵
April 1, 2018 Balance b/d 375,000
Dec 31, 2018 Plants Disposal Account 40,500
Dec 31, 2018 Cash for New Plants 52,500
Dec 31, 2018 Balance c/d 387,000
Total 427,500 427,500
b) Accumulated Depreciation - Plant
Date Description Debit Credit
GH₵ GH₵
April 1, 2018 Balance b/d 157,500.00
Dec. 31, 2018 Plants Disposal Account 27,427.10
March 31, 2019 Depreciation Expense 65,265.63
March 31, 2019 Balance c/d 195,338.53
Total 222,765.63 222,765.63
c) Plants Disposal Account
Date Description Debit Credit
GH₵ GH₵
Dec. 31, 2018 Plant Account 40,500
Dec. 31, 2018 Accumulated Depreciation 27,427.10
Dec. 31, 2018 Cash 12,000.00
Dec. 31, 2018 Loss on Disposal 1,072.90
Total 40,500 40,500
d) Depreciation Expense Account - Plant
Date Description Debit Credit
GH₵ GH₵
March 31, 2019 Accumulated Depreciation 65,265.63
Explanation:
a) Depreciation method is 30% on the diminishing value or the reducing balance. This is one of the methods of asset depreciation. Others are the straight-line method, the accelerated method, and production units method. The diminishing value method calculates depreciation based on the difference between the cost and accumulated depreciation, including disposals. The straight-line method applies the same amount over the useful life of the asset. The accelerated methods ensure that depreciation in the earlier years is greater than in the later years to balance the increasing maintenance costs associated with the asset as the years go by. A variant of the accelerated method is the production units method, which depreciates the asset according to the units of production each year.
b) Accumulated Depreciation on two plants on the reducing balance:
October, 2015 - March 2016 6 months (30% of 40,500 x 6/12) 6,075.00
April 1, 2016 to March 2017 12 months (30% of 34,425) = 10,327.50
April 1, 2017 to March 2018 12 months (30% of 24,097.5) = 7,229.25
April 1, 2018 to Dec. 2018 9 months (30% of 16,868.25 x 9/12) 3,795.35
Total 27,427.10
c) Depreciation Expense for March 31, 2019:
i) Depreciation on old plant (reduced balance):
Balance on asset = 375,000.00
Disposal = -40,500.00
Accumulated Depreciation = -130,072.90
Balance on asset = 204,427.10
30% on 204,427.10 = 61,328.13
ii) Depreciation on new plants:
30% of 52,500 x 3/12 = 3,937.50
i + ii = 65,265.63
d) One of the old plants had not yet been sold. So, nothing was realized from it so far. The GH₵4,500 that would be realisable from its sale had not yet happened and is not taken into account.
Help. business management
Answer: The break-even point is 66 units.
Explanation:
The break-even point can be found by dividing total fixed costs by the difference between selling price and variable cost.
(fixed cost) / (sale price - variable cost)
1980 / (50 - 20) = 66 units
Salt & Battery must sell 66 units of product before breaking even.
Given the data below for a firm in its first year of operation, determine net income under the cash basis of accounting. cash received from customers $48,000 accounts receivable 12,000 cash paid for expenses 26,000 accounts payable (related to expenses) 3,000 prepaid rent for next period 7,000
Answer:
The answer is $22,000
Explanation:
Cash basis accounting is a method of recording accounting transactions/events for revenue only when cash is received from customers and expenses only when cash payments are done by the business entity to suppliers.
Net income = Cash received from customers $48,000 - cash paid for expenses 26,000
Net income = $22,000
Seven years ago, Elise Damato started a business specializing in dog walking and dog grooming. After the first year, her pet food supplier started giving Elise a cash discount of 2.25% on any amount paid within 15 days of the invoice date. On October 25, Elise bought pet food costing $1,064. On November 8, Elise paid $800 on the purchase. Compute the unpaid balance. (This problem involves the partial payment of an invoice within the discount period.)
Answer:
The answer is $246
Explanation:
Solution
Recall that:
The cash discount from the supplier = 2.25%
Elise purchased pet food for an amount = $1064
On 8 November she paid for a purchase of = $800
The next step to take is to calculate for he unpaid balance as stated from the question given.
Now,
The total amount due = 1064
The amount paid within the period of credit =$800
The cash discount = 2.25%
The corresponding amount of payment before credit for cash discount is = (B/1-C)
Which is = 800/1-2.25%
800/0.977
=818.4
Therefore the unpaid balance is = $1064-818.4
= 245.6 or 246
You are the manager of Taurus Technologies, and your sole competitor is Spyder Technologies. The two firms’ products are viewed as identical by most consumers. The relevant cost functions are C(Qi) 4Qi, and the inverse market demand curve for this unique product is given by P 160 2Q. Currently, you and your rival simultaneously (but independently) make production decisions, and the price you fetch for the product depends on the total amount produced by each firm. However, by making an unrecoverable fixed investment of $200, Taurus Technologies can bring its product to market before Spyder finalizes production plans. Should you invest the $200? Explain.
Answer:
No
Explanation:
Well,i say this because if Taurus is able to launch its product way before other competitors they will make more profit and can use those $200 to invest on other parts of the business like hiring more workers or buying machines to help in productivity and therefore make more sales and be able to expand profit.
Which expectation of an employer involves seeing employees dress appropriately and arrive at work on time?
Employees are expected to be punctual and dress appropriately, thus maintaining_____.
Answer:
office decorum
Explanation:
The term workplace decorum, in plain terms, refers to the basic collection of such rules that aim to make the workplace atmosphere a nicer environment to settle in. The term "office decorum" may make it look dense as well as packed with several implications, but in actuality it is a collection of basic instructions that you'll have to examine in an organization to work around each other.
Answer:
Professional Decorum
Explanation:
edmentum
Barney builds custom wooden birdhouses. he can make 150 birdhouses per month and sell them for $50 each. his average total cost is $30 per birdhouse. refer to scenario 13-16. barney is considering hiring his best friend fred to work for him. fred can build 125 birdhouses per month. if barney hires fred, what will be the monthly marginal product
Answer:
125 birdhouses per month
Explanation:
Barney=150 birdhouses
Total product=150 birdhouses
If Barney hires Fred
Fred =125 birdhouses
Total product=150+125
=275 birdhouses
Marginal product can be defined as a change in output as a result of a change in variable inputs
It can be calculated as follows
Marginal product=change in total product/change in variable inputs
=275-150/1
=125/1
=125 birdhouses per month
Which is not true of birthday and/or annual review automatics?a. the purpose is to trigger a telephone call for a face-to-face meeting.b. quarterly automatic contacts decrease cross-sales and lead to reduced referrals.c. you are expected to stay in touch with all your active prospects and clients through two personal contacts each year?
Answer: b. Quarterly automatic contacts decrease cross-sales and lead to reduced referrals
Explanation:
During the annual review of business considering automatics it is observed that there is always a decrease in cross sales and these leads to a reduce in referrals.
When these happens, clients who raise offer for referrals drop interest.
What is the hazard? Chris works for a city public works department. One hot afternoon the temperature outside reached 92 degrees. While Chris was shoveling dirt in a vacant lot, he started to feel dizzy and disoriented. He fainted due to the heat.
Answer: dehydration
Explanation:
Answer:
dehydration and heat exhaustion.
Explanation:
I hope this helps! :)
Implementing and executing strategy successfully requires Implementing and executing strategy successfully requires:______________
A. the same kinds of creative management talent and innovative thinking capabilities as crafting strategy.
B. a financially driven process aimed at squeezing the most profit out of conducting daily operations.
C. the efforts of a company's whole management team, not just a few senior managers
D. a high caliber CEO that possesses the business vision, industry and competitive analysis skills, and entrepreneurial creativity needed to navigate the competitive landscape.
E. less managerial expertise and effort to perform well, at least in comparison with crafting a winning strategy.
Answer: C. . the efforts of a company's whole management team, not just a few senior managers
Explanation:
Planning, implementing and carrying out strategies requires a careful, collective and calculative decision to be made by all head of department and the board of an organization, because the decision taken will rub off through these departments for implementation. The decision or choice of decision should not be left to a few persons in the organization because when the ideas and plans are arranged the execution may fail as all the respective department were not involved by their heads.
During 2018, Leucothea Co. became involved in a legal dispute with a supplier. At December 31, 2018, Leucothea’s legal advisor believed that an unfavorable outcome was probable. A reasonable estimate of resulting monetary damages is $100,000 but could be as much as $200,000. Leucothea has legal liability insurance coverage that limits their loss to $80,000. After the 2018 financial statements were issued, Leucothea agreed to settle the case for $125,000. What amount of accrued liability should Leucothea have reported in its December 31, 2018 balance sheet?
Answer:
$80,000
Explanation:
Prudence allows that liabilities should not be understated and assets should not be overstated .
As the case is probable to result to a liability by the lawyers assessment , this means that it is more likely to happen and liability should be recognized . However , there is an insurance that limits the liability to the tune of $80,000 regardless of the agreement made towards the settlement.
The sum of $80,00 should be recognized as the liability in the statement of financial position
Which sequence of HACCP principles is in the correct order?
A.
Establish critical limits for each CCP, conduct a hazard analysis, and establish corrective actions.
B.
Conduct a hazard analysis, identify CCPs, and establish critical limits for each CCP.
C.
Establish record-keeping procedures, establish corrective actions, and establish CCP monitoring requirements.
D.
Establish CCP monitoring requirements, conduct a hazard analysis, and identify CCPs.
E.
Conduct a hazard analysis, identify CCPs, and establish CCP monitoring requirements.
Answer:
B
Explanation:
Hazard analysis of critical control point (HACCP) is a process of identifying and assessing risks alongside the biological , physical and chemical hazards associated with food production .
The sequence of the first three of the seven principles are
1. Conduct hazard analysis to determine potential risks related to food protection
2. Identify the critical control point (CCP) which addresses controlling identified hazards that are mostly likely to cause injury to health
3. Establishing critical limits for each CCP , which is the highest or lowest level a biological ,physical or chemical parameter must be controlled to prevent or minimize hazards.
Answer:
B. Conduct a hazard analysis, identify CCPs, and establish critical limits for each CCP
Explanation:
A basic concept in economics is that al resources are?
Answer:
Limited
Explanation:
It is general believed that human wants are unlimited but the resources to satisfy them are limited.
Scarcity is a term in economics, which means that the resources available will not be enough to meet the unlimited human want hence resources must be allocated efficiently.
Some of the causes of scarcity are when demand is greater than what is being produced, when there are no enough suppliers to supply certain products. Etc
reviewers are largely supportive of the increased push to have people pre order video games
A- true
B- false
Answer:
False
Explanation:
Reviewers resist the pre-order movement because it circumvents their role in the marketing process.
Selected financial data for Spark Enterprises follows for a production level of 120,000 units: (4 points) Total fixed costs $300,000 Total costs (fixed and variable) $450,000 a.Calculate the variable cost per unit. B.If Flash Corporation makes 75,000 units, calculate the fixed cost per unit. C.If Flash Corporation makes 160,000 units, calculate the total variable costs. D.If Flash Corporation makes 180,000 units, calculate the total costs.
Answer:
Instructions are below.
Explanation:
Giving the following information:
Total fixed costs= 300,000
Total costs= $450,000
Units= 120,000
A) Unitary variable cost= 150,000/120,000= $1.25
B) Units= 75,000
The fixed costs remain constant no matter how many units are made (between relevant ranges).
Total fixed costs= $300,000
C) UNits= 160,000
Total variable costs= 1.25*160,000= $200,000
D) Units= 180,000
Total fixed costs= 300,000
Total variable costs= 1.25*180,0000= 225,000
Total costs= $525,000
If you are completing a job application in person, use
____
pencil
blue Ink
black ink
either blue or black nik
Answer:
Black Ink
Explanation:
Answer:
black ink
Explanation:
it is more professional to use black ink
Turbine trip power surdg
Answer:
In brief an overspeed failure on a big steam or gas turbine is one of the most frightening industrial accidents.
A turbine overspeed accident can be caused by a lightning-induced power surge, a fouled pilot valve, an electrical fault, operator failure, or any of a few dozen other problems.
The trip mechanisms on most turbines are required by law to be tested periodically.
Explanation:
Your grandparents would like to establish a trust fund that will pay you and your heirs $230,000 per year forever with the first payment 10 years from today. If the trust fund earns an annual return of 4.5 percent, how much must your grandparents deposit today?
Answer:
$3,438,289
Explanation:
First we need to calculate the future value of investment after 10 years.
A fix payment for indefinite period of time is a perpetuity payment. It will be value using perpetuity formula
Value of investment after 10 years = Yearly cash flow / interest rate
Value of investment after 10 years = $230,000 / 4.5% = $5,111,111
Now we need to discount this value to calculate the amount of deposit required today.
Present value = Future value x ( 1 + r )^-n
Today's value = $5,111,111 x ( 1 + 4.5% )^-9 = $3,438,289
Approximately what portion of global employers tends to use social media websites to hire new employees?
A.
30 percent
B.
40 percent
C.
50 percent
D.
60 percent
E.
70 percent
I'm pretty sure it is B. 40 percent
The portion of global employers who tends to use social media websites to hire new employees is approximately 30 percent.
What do you mean by employees?A person refers to the employee who gets paid to work for a person or company.
The approximate portion of global employers who tends to use social media websites to hire new employees is 30 percent.
Therefore, A is the correct option.
Learn more about Employees here:
https://brainly.com/question/13405418
#SPJ2
Would you willingly participate in a sociological study that could potentially put your health and safety at risk, but had the potential to help thousands or even hundreds of thousands of people? For example, would you participate in a study of a new drug that could cure diabetes or cancer, even if it meant great inconvenience and physical discomfort for you or possible permanent damage? Would your opinion change if a close family member died and would have possibly benefited from such a drug? Would your opinion change if you were being paid a significant amount of money? If this were a paid study...would there be any social forces that may influence who wanted to participate in the study and would this have any positive or negative impact on the study results?
Answer:
no
Explanation:
What is a good Warzone loadout. Best gets Brainliest. Explain
Answer:
The best warzone loadout is the anime kilo and kar98 or a M4 with a mp5
Explanation:
Why did the United States issue the Marshall Plan?
A. to help Japan rebuild after the war
B. to help Europe’s economy after the war
C. to help America’s economy after the war
D. to limit Soviet influence after the war
Answer:
D. to limit Soviet influence after the war
Explanation:
The Marshall Plan was to help all non-communist governments with their rebuilding of not only infrastructures but also economies. This was put in place to limit the spread of communism, the other leading economic order at the time.
Last week Paul, CEO of Quality Furniture in South Carolina, traveled to Europe to visit customers. While overseas, Paul checked his e-mail daily and showed his company's website to customers, explaining how the website will help them place orders and receive merchandise more quickly. After visiting the last customer Friday morning, Paul was able to return to the corporate office in South Carolina to meet with his board of directors that night. ________ is the "shrinking" of time and space with air travel and electronic media.
Answer:
the global village
Explanation:
Global village is a term used to describe how communication between parties that are far apart is done as a result of interconnectivity and advanced media technology.
An individual does not need to travel from New York for example for a meeting, rather meetings can now be done online.
In this scenario Paul checked his e-mail daily and showed his company's website to customers, explaining how the website will help them place orders and receive merchandise more quickly.
He was able to work with his office and the customers he visited through the use of media.
This shrinking of time and space by use of media is referred to as the global village.
Select the correct answer.
Which marketing strategy is used during a product’s decline stage?
A.
the product’s price is increased to appeal to a niche market
B.
a new target market is created
C.
product costs are reduced and the product is sold to loyal customers
D.
advertising is increased to create brand loyalty
E.
production is increased to push sales
For an imaginary economy, when the real interest rate is 7 percent, the quantity of loanable funds demanded is $500 and the quantity of loanable funds supplied is $500. Currently, the nominal interest rate is 9 percent and the inflation rate is 4 percent. Currently,
A. the quantity of loanable funds supplied exceeds the quantity of loanable funds demanded, and as a result the real interest rate will rise.
B. the quantity of loanable funds supplied exceeds the quantity of loanable funds demanded, and as a result the real interest rate will fall.
C. the quantity of loanable funds demanded exceeds the quantity of loanable funds supplied, and as a result the real interest rate will rise.
D. the market for loanable funds is in equilibrium.
Answer:
The correct answer is option (C) the quantity of loanable funds demanded exceeds the quantity of loanable funds supplied, and as a result the real interest rate will rise.
Explanation:
Solution
At the interest rate of 7% the market Is in equilibrium where the supply and the demand are same, at a higher rate this the supply will rise for example, the saving will go up and demand will be lower than the supply. But as the inflation rate is 4% then the real interest rate is only 5%.
At a rate below the equilibrium the demand will be more than the supply and there will be a shortage that will increase the real s interest rate.
Amanda is a Certified Public Accountant. She wants to work as an auditor with a firm in the state of California. Which accounting body must she get herself registered with?
A.
Security and Exchange Commission
B.
Financial Institution Regulating Authority
C.
State Board of Accountancy
D.
Government Accounting Standard Board
Answer:
C
Explanation:
Amanda must get herself registered with the state board of accountancy.
To become a member of the certified public accountancy (CPA), one requires a bachelor’s degree in business administration, finance, or accounting.
The state Boards of Accountancy helps to assist state government in the licensing and regulation of the public accounting profession.
For Amanda to work as an auditor in a firm in California she has to register in the state board of accountancy.
How has Chinese economic growth benefited the Australian economy?
Answer:
First, rising wages and consumer demand will increase demand for more sophisticated manufactured goods (where Australia has some niches of excellence, for example, in medical devices) and for services such as tourism (where China is already an important market).
( I found this on a website called Aph.gov.au
full credit to them and their work. Check them out for more info on your topic)
When the productivity of the workers in a Firm increases what would happen to the demand for labour in that firm if the quantity demanded for the product does not change?
Answer:
The demand for labour would decrease because it will be costly for the business keeping the workers.
Explanation:
If the quantity demanded for the product does not change while workers productivity increase this will make the quantity demanded for labour decrease because its costly to keep workers if the consumers demand does not change this means that the business is not making any profit.
When dealing with a credit card, the amount of money you must pay each month is known as what?
Finance charge
Minimum payment
Principal
Annual percentage rate (APR)
Option B The minimum payment.
ad hominem
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false dilemma
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Excerpt
Logical
Fallacy
Our current mayor has been in politics for over 25 years. It is time
that we have a younger mayor, so we can have fresh ideas to make our city better.
is true that the city council id approve a tax for a new road
construction project. However, our city needs to attract more businesses to stabilize
our economy
bring to work instead of using public transportation is the net
eating everything on your plate it wastes veueble resources