1. If there was one owner of a manufacture company. What accounts are risky?
2. Would you make a JE if the owner didn't pull out a salary, but did work?
1) There are many manufacturing companies with One Owner. It doesn't matter how many of them owning the company, it is how many of them have great knowledge,diversity,decision making knowledge. It is always a risk of business failure, to bear the cost that incurred.
2) Question not clear.
1. If there was one owner of a manufacture company. What accounts are risky? 2. Would...
1. If there was one owner of a manufacture company. What accounts are risky? 2. Would you make a journal entry if the owner didn't pull out a salary, but did work?
1) Speculation can always be risky because if it turns out the number of houses you built through speculation is not sustainable, you will lose money and may not be able to deliver payments. It points out you have to factor in depreciation, that is something that seems hard to predict with full accuracy. One item that I did not understand so well, that I need elaboration is the difference between owner drove and speculation driven. Is the difference in...
You are a owner of a paper company with staffing of 10. 1. What is the company’s philosophy on compensation and benefits 2. The organizational chart for the company 3. What does your company do to attract retain and motivate employees 4. What is the culture of the company 5. Tell me about your companies compensation and benefits package. 6. a. list 2 job titles in your company for comparison. B. Please provide both job descriptions. C. Please give both...
Record the owner’s investment in the company inventory. On July 1, 2017, you, the company owner, have invested $15,000 of your own money into the business in order to purchase the inventory owned by a small manufacturer. The manufacturer you bought out had $800 in Raw Materials Inventory, $1,200 in Work in Process, and $500 in Finished Goods Inventory. The remainder of the cash that was not spent was put into the company’s cash account. What would the journal entry...
Cruise Company produces a part that is used in the manufacture of one of its products. The unit manufacturing costs of this part, assuming a production level of 6,400 units, are as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Total cost The fixed overhead costs are unavoidable. $4.30 $4.50 $3.30 $1.50 $13.60 Assume Cruise Company can purchase 6,400 units of the part from Suri Company for $14.20 each, and the facilities currently used to make the...
Cruise Company produces a part that is used in the manufacture of one of its products. The unit manufacturing costs of this? part, assuming a production level of 6 comma 300 ?units, are as? follows: Direct materials $ 4.50 Direct labor $ 4.50 Variable manufacturing overhead $ 3.20 Fixed manufacturing overhead $ 1.50 Total cost $ 13.70 The fixed overhead costs are unavoidable. Assume Cruise Company can purchase 6 comma 300 units of the part from Suri Company for $...
1. You are the owner of a paper company with 10 staff based on market analysis and trends research a salary and assign to each position. 2. Assign a budget for salaries( be sure to give leeway)
Would prefer to see your company if you were the owner declare a 100% stock dividend or declare a 2-for-1 split. Provide support for your answer with one (1) real-world example of your preference.
Why would your company want to extend out its accounts receivable policy? Select One A. Extending their receivables will slightly increase demand B. Extending their receivables will increase their available cash C. Extending their receivables will make their suppliers happy D. None of the above
Review the transactions and determine the accounts, the account
types (use assets; liabilities; owner, capital; owner, withdrawals;
revenue; and expenses), if they increase/decrease and if they are
DR/CR. List accounts in order they would be in the journal
entry.
Review the transactions and determine the accounts, the account types (use assets; liabilities; owner, capital; owner, withdrawals revenue; and expenses), if they increase/decrease and if they are DR/CR. List accounts in order they would be in the journal entry. Collected cash...