Chapter 13, Problem 19RQ

Consider how the role of accountants has changed over time. Just a few short decades ago, many accountants were writing down by hand each business transaction into a general journal, manually posting to the general ledger, and physically adding ledger figures to construct trial balances and financial statements. Imagine how many people it took to perform these processes and then imagine how many organizations needed these people.”  Accounting is changing once again. The relentless adoption of new technology continues to increase the automation of routine processes that accountants have performed for centuries… While this reality of machine learning and artificial intelligence could be perceived as a threat to the accounting profession, it should instead be seen as an opportunity: accountants can once again shed the responsibility for mundane, time-consuming transactions and focus instead on value-added activities. Accountants can leverage their newfound time into driving business…

Define working capital and explain its importance in financial health and liquiditymanagement.2. Assess how the matching concept and accrual basis affect the reporting ofcurrent assets and liabilities.3. Using a hypothetical balance sheet (you may create one), identify at least 5current assets and 5 current liabilities and analyze how changes in theseelements affect liquidity ratios.4. Recommend at least two strategies  to optimizeworking capital.

Discuss and explain the picture

Questi 7

Financial accounting

Based on the attached amortization schedule, what is the amount for the interest expense and amortization expense that is missing from the ledger?   2 year term, 8 quarterly payments, 6% rate  Initial lease $136768

Southern Company leased high-tech electronic equipment from Edison Leasing on January 1, 2024. Edison purchased the equipment from International Machines at a cost of $136,768. 2 year lease, with 8 quarterly payments of $18,000 each, 6% interest rate. What is the amortization schedule for this loan starting Jan 1, 2024?

Questi 8

Price and Efficiency Variances (22 points) The Livingston Corporation manufactures lamps. It has set up the following standards per finished unit for direct materials and direct manufacturing labor: 「 Direct Materials: 10 lb. at $5.20 per lb. Direct Manufacturing Labor: 0.5 hour at $30 per hour $52 $15.00 The number of finished unit budgeted for January 2017 was 9,940; 9,900 units were actually produced. Actual Results in January 2017 were as follows: 1.200 Direct Materials: 97,500 lb. used Direct Manufacturing Labor: 4,900 hours budg $155,575 During the month, materials purchases amounts to 99,400 lb., at a total cost of $536,760. Input price variances are isolated upon purchase. Input efficiency variances are isolated at the time of usage. Requirement Computer the January 2017 price and efficiency variances of direct materials and direct manufacturing labor. (Put a U for Unfavorable and a F for Favorable variances) 53670 Actual Costs Incurred Costs (Actual Input Qty. Actual Input…