State the three benefits that are realized by the organization from the budgeting.

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Answer 1

Question

Chapter 10, Problem 1Q

To determine

State the three benefits that are realized by the organization from the budgeting.

Expert Solution & Answer

Explanation of Solution

Budgeting: The budgeting is the process of preparing budgets and the evaluation of it to see whether the budget is able to meet the objectives set by the company. This is a complete process which helps in understanding the spending of money in accordance with the income. In addition, budget is the pre-estimate the expense and revenue related to the business.

Following are the various benefits that are realized by the organization from the budgeting:

1. The budgeting serves as a basis for the performance evaluation.
2. It helps in motivating the managers and employees.
3. The budgeting helps in promoting the coordination and communication within the organization.
4. The budgeting serves as a basis for resource allocation, providing authorization documentation and aiding cash flow management.

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On January 1, 2018, Ashton Corp. sold equipment to Bennett Ltd. (a wholly owned subsidiary) for $180,000 in cash. The equipment had originally cost $150,000 but had a book value of only $95,000 when transferred. On that date, the equipment had a four-year remaining life. Depreciation expense is computed using the straight-line method. Ashton earned $275,000 in net income in 2018 (not including any investment income), while Bennett reported $105,000. Ashton attributed any excess acquisition-date fair value to Bennett’s patented technology, which was amortized at a rate of $8,000 per year. What is the consolidated net income for 2018? Help me with this

Answer 2

Question

Chapter 10, Problem 1Q

To determine

State the three benefits that are realized by the organization from the budgeting.

Expert Solution & Answer

Explanation of Solution

Budgeting: The budgeting is the process of preparing budgets and the evaluation of it to see whether the budget is able to meet the objectives set by the company. This is a complete process which helps in understanding the spending of money in accordance with the income. In addition, budget is the pre-estimate the expense and revenue related to the business.

Following are the various benefits that are realized by the organization from the budgeting:

1. The budgeting serves as a basis for the performance evaluation.
2. It helps in motivating the managers and employees.
3. The budgeting helps in promoting the coordination and communication within the organization.
4. The budgeting serves as a basis for resource allocation, providing authorization documentation and aiding cash flow management.

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Answer 3

Question

Chapter 10, Problem 1Q

To determine

State the three benefits that are realized by the organization from the budgeting.

Expert Solution & Answer

Explanation of Solution

Budgeting: The budgeting is the process of preparing budgets and the evaluation of it to see whether the budget is able to meet the objectives set by the company. This is a complete process which helps in understanding the spending of money in accordance with the income. In addition, budget is the pre-estimate the expense and revenue related to the business.

Following are the various benefits that are realized by the organization from the budgeting:

1. The budgeting serves as a basis for the performance evaluation.
2. It helps in motivating the managers and employees.
3. The budgeting helps in promoting the coordination and communication within the organization.
4. The budgeting serves as a basis for resource allocation, providing authorization documentation and aiding cash flow management.

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Answer 4

Question

Chapter 10, Problem 1Q

To determine

State the three benefits that are realized by the organization from the budgeting.

Expert Solution & Answer

Explanation of Solution

Budgeting: The budgeting is the process of preparing budgets and the evaluation of it to see whether the budget is able to meet the objectives set by the company. This is a complete process which helps in understanding the spending of money in accordance with the income. In addition, budget is the pre-estimate the expense and revenue related to the business.

Following are the various benefits that are realized by the organization from the budgeting:

1. The budgeting serves as a basis for the performance evaluation.
2. It helps in motivating the managers and employees.
3. The budgeting helps in promoting the coordination and communication within the organization.
4. The budgeting serves as a basis for resource allocation, providing authorization documentation and aiding cash flow management.

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Answer 5

Chapter 10, Problem 1Q

To determine

State the three benefits that are realized by the organization from the budgeting.

Expert Solution & Answer

Explanation of Solution

Budgeting: The budgeting is the process of preparing budgets and the evaluation of it to see whether the budget is able to meet the objectives set by the company. This is a complete process which helps in understanding the spending of money in accordance with the income. In addition, budget is the pre-estimate the expense and revenue related to the business.

Following are the various benefits that are realized by the organization from the budgeting:

1. The budgeting serves as a basis for the performance evaluation.
2. It helps in motivating the managers and employees.
3. The budgeting helps in promoting the coordination and communication within the organization.
4. The budgeting serves as a basis for resource allocation, providing authorization documentation and aiding cash flow management.

Answer 6

Chapter 10, Problem 1Q

To determine

State the three benefits that are realized by the organization from the budgeting.

Expert Solution & Answer

Explanation of Solution

Budgeting: The budgeting is the process of preparing budgets and the evaluation of it to see whether the budget is able to meet the objectives set by the company. This is a complete process which helps in understanding the spending of money in accordance with the income. In addition, budget is the pre-estimate the expense and revenue related to the business.

Following are the various benefits that are realized by the organization from the budgeting:

1. The budgeting serves as a basis for the performance evaluation.
2. It helps in motivating the managers and employees.
3. The budgeting helps in promoting the coordination and communication within the organization.
4. The budgeting serves as a basis for resource allocation, providing authorization documentation and aiding cash flow management.

Answer 7

Chapter 10, Problem 1Q

To determine

State the three benefits that are realized by the organization from the budgeting.

Answer 8

Expert Solution & Answer

Explanation of Solution

Budgeting: The budgeting is the process of preparing budgets and the evaluation of it to see whether the budget is able to meet the objectives set by the company. This is a complete process which helps in understanding the spending of money in accordance with the income. In addition, budget is the pre-estimate the expense and revenue related to the business.

Following are the various benefits that are realized by the organization from the budgeting:

1. The budgeting serves as a basis for the performance evaluation.
2. It helps in motivating the managers and employees.
3. The budgeting helps in promoting the coordination and communication within the organization.
4. The budgeting serves as a basis for resource allocation, providing authorization documentation and aiding cash flow management.