Indicate how each event affects the elements of financial statements. Use the following letters to record your answer in the box shown below each element. You do not need to enter dollar amounts. (Note that "Not Affected" means that the event does not affect that element of the financial statements or the event causes an increase in that element that is offset by a decrease in the same element.)Increase = IDecrease = DNot Affected = NAAfter a physical count of its inventory, Wetzel Co. discovered that $400 of inventory is missing. Show how the adjustment for inventory shrinkage would affect Wetzel Co.'s statements.AssetsLiabilitiesStk. EquityRevenuesExpensesNet IncomeStmt of Cash Flows???????
What will be an ideal response?
(D) (NA) (D) (NA) (I) (D) (NA)
The adjustment to write off the inventory shrinkage decreases assets (merchandise inventory) and stockholders' equity (retained earnings). The write-off increases expenses and decreases net income. It does not affect the statement of cash flows.
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Management at the De la Garza Recreational Products has recognized that the firm is much slower than the competition at getting new designs to market. The problem seems to stem from coordination problems between the various functional departments involved in the recreational vehicle design process. De la Garza should
A. improve technical training for employees. B. formalize the division of labor. C. relax its rules and procedures. D. create cross-functional teams for development. E. cancel all social events for employees.
What is a marketing information system (MIS)? From what sources is the MIS developed?
What will be an ideal response?
Identify at least five of the external stakeholders of organizations that lie in the task environment. Explain why each of these is important to the organization.
What will be an ideal response?
Fabulous Jewelry Inc. is considering a takeover of its competitor, Cranberry Dream Jewelry LLC. In general, Fabulous should go ahead with the acquisition as long as Cranberry is more valuable as a continued standalone company than it would be inside Fabulous.
Answer the following statement true (T) or false (F)