Business, 21.10.2020 01:01 Lashuante4722

Omar and Janet own a small jewelry-supply business called Rings and Things. From January through April, the company generated a fair amount of business. However, Janet and Omar’s owner equity is lower than they had expected, and they seem to be losing money every month, even though sales are steady. Below is April’s balance sheet for Rings and Things. Assets

Cash (bills and coins) $35

Bank checking account $1,997

Materials (beads and wires) $40

Finished jewelry $100

Office supplies $50

Furniture $100

Total $2,322

Liabilities

Balance on loans $925

Payroll $1,000

(1 salesperson who works 20 hours/month)

Total $1,925

Assets – Liabilities = Owner Equity

$2,322 total assets

– $1,925 total liabilities

= $407 owner equity

QUESTION
Review the liabilities section of the balance sheet for Rings and Things. What problem can you identify with the payroll information, particularly as it relates to how much the one employee gets paid? What solution would you offer Janet and Omar?

PLEASE HELP ME I WILL GIVE BRANLIEST

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 06:30

Individual consumers belong to which step of choosing a target market? possible customers competition demographics communication

Answers: 2

Answer

Business, 22.06.2019 16:30

Corrective action must be taken for a project when (a) actual progress to the planned progress shows the progress is ahead of schedule. (b) the technical specifications have been met. (c) the actual cost of the activities is less than the funds received for the work completed. (d) the actual progress is less than the planned progress.

Answers: 2

Answer

Business, 22.06.2019 17:40

Slimwood corporation made sales of $ 725 million during 2018. of this amount, slimwood collected cash for $ 670 million. the company's cost of goods sold was $ 300 million, and all other expenses for the year totaled $ 400 million. also during 2018, slimwood paid $ 420 million for its inventory and $ 285 million for everything else. beginning cash was $ 110 million. carter's top management is interviewing you for a job and they ask two questions: (a) how much was carter's net income for 2018? (b) how much was carter's cash balance at the end of 2016? you will get the job only if you answer both questions correctly.

Answers: 1

Answer

Business, 22.06.2019 22:50

Adding a complementary product to what is currently being produced is a demand management strategy used when: a. capacity exceeds demand for a product that has stable demand.b. price increases have failed to bring about demand management.c. demand exceeds capacity.d. demand exceeds 100 percent.e. the existing product has seasonal or cyclical demand.

Answers: 3

Answer

You know the right answer?

Omar and Janet own a small jewelry-supply business called Rings and Things. From January through Apr...

Questions