Answer:
Give the reasons that you wrote
Explanation:
If I were you I would put the reasons that you wrote above but just make it sound more professional. Ex: I left my job at (name of amusement park) in (month) of (year) due to health issues.
On January 1, 2017, Yeager Company purchased some equipment for $4,700. The estimated life was five years, after which there would be a residual value of $600. On January, 1, 2019, the estimated total economic life from the original purchase date was changed to six years and the estimated residual value was increased by $100. Assuming straight line depreciation method is used by the company, what is the amount of depreciation expense for the year 2019
Answer:
$575
Explanation:
Straight line method charges a fixed amount of depreciation using the formula :
Depreciation expense = (Cost - Residual Value) ÷ Useful Life
2017
Deprecation expense = $820
2018
Deprecation expense = $820
2019
Calculate depreciable amount :
New depreciable amount = Previous Depreciable Amount - Accumulated depreciation - Increase in Residual amount
= $4,700 - $600 - $1,640 - $100
= $2,300
Determine the New useful life :
Since 2 years have already expired, the new useful life out of the revised 6 years is 4.
Depreciation Expense calculation :
Depreciation Expense = Depreciable Amount ÷ Useful Life
= $2,300 ÷ 4
= $575
Conclusion :
The amount of depreciation expense for the year 2019 is $575
As a member of UA Corporation's financial staff, you must estimate the Year 1 cash flow for a proposed project with the following data. What is the Year 1 cash flow? Do not round the intermediate calculations and round the final answer to the nearest whole number. Sales revenues, each year $40,000 Depreciation $10,000 Other operating costs $17,000 Interest expense $4,000 Tax rate 35.0%
Answer:
$15,850
Explanation:
Particulars Amount
Sales revenues, each year $40,000
Less : Depreciation $10,000
Less : Other operating costs $17,000
EBIT $13,000
Less : Interest expense $4,000
EBT/PBT $9,000
Less: Tax at 35% $3,150 ($9,000*35%)
PAT $5,850
Add: Depreciation $10,000
Cash flow after taxes $15,850
Companies should try to focus on their areas of expertise. Should they always outsource other business functions to become a more modular organization?
Must be 3-4 sentences pls
Answer:
Yes. companies should try to focus on their core competencies so that they can have more time and resources to focus on delivering on their primary assignment.
Explanation:
An ICT company with a high volume of customer care related activities should consider outsourcing that service.
If their core offering is to deliver on mobile applications, it will prove counterproductive in the nearest future if they spend most of their time trying to solve problems that arise from servicing existing customers.
Outsourcing must be carefully implemented so that it does not backfire. It is critical to ensure that the total direct and indirect cost to the company far outweigh the benefits of retaining such a service internally.
Cheers
The National Credit Union Administration provides coverage up to $250,000 per individual depositor at each credit union.
T or f
Answer:
True
Explanation:
It is TRUE that The National Credit Union Administration provides coverage up to $250,000 per individual depositor at each credit union.
This is evident in the fact that the National Credit Union Administration posted on their website that "All deposits at federally insured credit unions are protected by the National Credit Union Share Insurance Fund, with deposits insured up to at least $250,000 per individual depositor."
Pasadena Candle Inc. budgeted production of 730,000 candles for the January. Wax is required to produce a candle. Assume 11 ounces of wax is required for each candle. The estimated January 1 wax inventory is 17,400 pounds. The desired January 31 wax inventory is 12,900 pounds. If candle wax costs $1.40 per pound, determine the direct materials purchases budget for January. (One pound
Answer:
696,325 Pounds
Explanation:
The computation of the direct material purchase budget is given below:
Here we assume that
one pound = 16 ounces
Now total wax needed is
= Production of Finished Goods × Pounds of wax needed for production
= 730,000 candles × 11 ÷ 16
= 501,875 pounds
Now
Total direct material purchased = (Total Wax needed + Ending Inventory, Jan.31 - opening inventory) × unit price
= (490,625 Pounds + 12,900 pounds - 17,400 pounds) × $1.40 per pound
= 696,325 Pounds
A facility is setting up an assembly line to produce 75 units per day, working 24 hours per day. Calculate the desired cycle time in minutes per unit.
Task Time (Min) Predecessors
A 4 -
B 3 -
C 5 A
D 5 A,B
E 3 C,D
Solution :
Given :
The production output per day = 75 units
Production time per day = 24 hours
Therefore, the cycle time is
= [tex]$\frac{\text{production time per day}}{\text{outpu}t \text{ per day} }$[/tex]
[tex]$=\frac{24 \times 60}{75}$[/tex]
= 19.2 mins
≈ 20 minutes
The desired cycle time = 15 minutes per unit
Given the task times of A to E from the table.
Sum of the task times (A to E) = 4 + 3 + 5 + 5 + 3
= 20 minutes
Number of workstations needed = (sun of total task times) / (cycle time)
[tex]$=\frac{20}{15}$[/tex]
= 1.33
≈ 2 work stations
After researching Best Buy common stock, Sally Jackson is convinced the stock is overpriced. She contacts her account executive and arranges to sell short 150 shares of Best Buy. At the time of the sale, a share of common stock had a value of $53. Three months later, Best Buy is selling for $55 a share, and Sally instructs her broker to cover her short transaction. Total commissions to buy and sell the stock were $82. What is her profit for this short transaction
Answer:
Total profit after commission will be "$218".
Explanation:
The given values are:
Share of common stock,
= $53
Total commissions to sell and buy,
= $82
Now,
The profit from buying and selling will be:
= [tex]55-53[/tex]
= [tex]2[/tex] ($)
Total profit will be:
= [tex]2\times 150[/tex]
= [tex]300[/tex] ($)
hence,
The profit after reducing commission will be:
= [tex]300-82[/tex]
= [tex]218[/tex] ($)
In June 2019, the average price of a cup of coffee in Venezuela was 6,500 bolivars; in June 2018, the average price was just 8 bolivars. This represents an 81,150% increase in the price of a cup of coffee for Venezuelans, who have seen similarly dramatic increases in the prices of nearly everything they buy. How might this experience of inflation impact inflation going forward
Answer:
d. causes inflation expectations to rise, which in turn causes still higher inflation
Explanation:
Missing word "Higher inflation: a. makes most goods and service unaffordable, causing a decrease in demand that leads to falling prices, b. creates a price bubble that ultimately bursts, causing the prices of most goods and services to fall, c. causes inflation expectations to fall, which in turn causes inflation to fall d. causes inflation expectations to rise, which in turn causes still higher inflation"
This inflation experience will most likely will continue increase using the experience as yardstick and this will be a case of hyper inflation where the inflation rates are so high that is goes out control in economic perspective. In hyper-inflation situation, prices of goods and services may increase and continue to do in hourly basis.
5. Karen is listening to a colleague's idea for reducing customer wait time at the store. Which behavior can Karen exhibit to best demonstrate that she agrees with
her colleague's idea?
O A. Cross her arms in front of her chest
O B. Rub her hands together
O C. Rest her chin in one hand
OD. Nod her head
Two investment centers at Marshman Corporation have the following current-year income and asset data: Investment Center A Investment Center B Investment center income $ 470,000 $ 590,800 Investment center average invested assets $ 2,560,000 $ 2,110,000 The return on investment (ROI) for Investment Center B is:
Answer:
28 %
Explanation:
The Return On Investment (ROI) is synonymous with the Accounting Rate of Return (ARR). Where the ARR is focused on future estimates (an e ante measure), ROI is focused on historic after the event (ex post) performance measure.
Return On Investment (ROI) = Divisional Profit Contribution / Assets employed in the division x 100
therefore,
Investment Center B
Return On Investment (ROI) = $ 590,800 / $ 2,110,000 x 100
= 28 %
The return on investment (ROI) for Investment Center B is 28 %
Sterling Hotel uses activity-based costing to determine the cost of servicing customers. There are three activity pools: guest check-in, room cleaning, and meal service. The activity rates associated with each activity pool are $8.70 per guest check-in, $18.00 per room cleaning, and $3.00 per served meal (not including food). Julie Campbell visited the hotel for a 5-night stay. Julie had 6 meals in the hotel during the visit. Determine the total activity-based cost for Campbell's visit during the month. Round your answer to the nearest cent.
Answer:
Allocated costs= $116.7
Explanation:
Giving the following formula:
The activity rates associated with each activity pool are $8.70 per guest check-in, $18.00 per room cleaning, and $3.00 per served meal (not including food).
Julie Campbell visited the hotel for a 5-night stay. Julie had 6 meals in the hotel during the visit.
To allocated costs, we need to use the following formula:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated costs= 8.7 + 18*5 + 3*6
Allocated costs= $116.7
A new machine costing $1,800,000 cash and estimated to have a $60,000 salvage value was purchased on January 1. The machine is expected to produce 600,000 units of product during its 8-year useful life. Calculate the depreciation expense in the first year under the following independent situations: The company uses the units-of-production method and the machine produces 70,000 units of product during its first year. The company uses the double-declining-balance method. The company uses the straight-line method.
Answer:
Results are below.
Explanation:
Giving the following formula:
Purchase price= $1,800,000
Salvage value= $60,000
Useful life= 8 years or 600,000 units
To calculate the annual depreciation using the units-of-production method, we need to use the following formula:
Annual depreciation= [(original cost - salvage value)/useful life of production in units]*units produced
Annual depreciation= [(1,800,000 - 60,000) / 600,000]*70,000
Annual depreciation= $203,000
To calculate the annual depreciation using the double-declining balance, we need to use the following formula:
Annual depreciation= 2*[(book value)/estimated life (years)]
Annual depreciation= 2*[(1,800,000 - 60,000) / 8]
Annual depreciation= $435,000
Finally, the annual depreciation using the straight-line method:
Annual depreciation= (original cost - salvage value)/estimated life (years)
Annual depreciation= (1,800,000 - 60,000) / 8
Annual depreciation= $217,500
Bernice Ruel operates Leather Unlimited, a leather shop that sells luggage, handbags, business cases, and other leather goods. During the month of March, the following transactions occurred. The applicable sales tax rate is 6%.
Mar. 2 Sold merchandise on account to Emma Sommers, $250.00, plus sales tax. 9 Sold merchandise on account to Shelly Feinstein, $470.00, plus sales tax. 12 Emma Sommers returned $40.00 worth of merchandise purchased on March 2 for credit. 18 Sold merchandise on account to Maureen Hodge, $110.00, plus sales tax. 19 Sold merchandise on account to Frank MacDonald, $165.00, plus sales tax. 22 Received payment from Emma Sommers on account. 26 Maureen Hodge was given an allowance of $30.00 when she reported damage in the merchandise purchased on March 18. 28 Sold merchandise on account to Emma Sommers, $500.00, plus sales tax. 29 Sold merchandise on account to Shelly Feinstein, $230.00, plus sales tax. 31 Received payment from Maureen Hodge on account. 31 Cash sales for the month were $2,600, plus sales tax.
Required:
Enter the above transactions in the general journal.
Assume and act like you posted the journal entry to the Accounts Receivable accounts. Do not forget the Post Ref. Information
Chart of Accounts: Cash 101, Accounts Receivable 122, Sales Tax Payable 231, Sales 401, Sales Returns & Allowances 401.1
GENERAL JOURNAL
Page 1
Date
Description
Post
Ref.
Debit
Credit
Answer:
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Marks Corporation has two operating departments, Drilling and Grinding, and an office. The three categories of office expenses are allocated to the two departments using different allocation bases. The following information is available for the current period: Office Expenses Total Allocation Basis Salaries $ 39,000 Number of employees Depreciation 29,000 Cost of goods sold Advertising 68,000 Net sales Item Drilling Grinding Total Number of employees 1,800 2,700 4,500 Net sales $ 368,000 $ 552,000 $ 920,000 Cost of goods sold $ 121,600 $ 198,400 $ 320,000 The amount of depreciation that should be allocated to Drilling for the current period is:
Answer: $53820
Explanation:
The amount of depreciation that should be allocated to Drilling for the current period will be:
Salaries = (39000 × 1800/4500) = 15600
Add: Depreciation = (29000 × 121600/320000) = 11020
Add: Advertising = (68000 × 368000/920000) = 27200
Total = 53820
What is Gnp gap? in economics
Answer:
Gross National Product (GNP) is the total value of all finished goods and services produced by a country's citizens in a given financial year, irrespective of their location.
Hope that helps! :)
Explanation:
You were unable to attend all of the training, but your coworker has offered to fill you in on the details that you missed. Identify which of the following statements your coworker is likely to indicate as diversity principles discussed during your absence. Check all that apply. Do not lower hiring standards to promote diversity in the workplace. Surface-level diversity should not be treated as more important than deep-level diversity. Keep trying to accomplish as much as possible, even if implementing the diversity program becomes difficult.
Answer:
Surface-level diversity should not be treated as more important than deep-level diversity
Do not lower hiring standards to promote diversity in the workplace.
Keep trying to accomplish as much as possible, even if implementing the diversity program becomes difficult.
Explanation:
According to the given situation, in the case when the employee is not able to attend the training program but at the same time the coworker wants to take initiative to train the employee so the co worker should inform that the deep level diversity i.e higher significant as compared with the surface level. In addition to this, the performance & skills represent more significance as compared with the diversity in the workplace. Also, the hiring standard should not be less
So the above are the answers
Marilyn entered into a contract and sold equipment to Sam who claimed to be acting on behalf of ABC Corporation. Marilyn was not paid, and upon investigation, she learned that while the articles of incorporation were filed for ABC Corporation, they were never issued. Which of the following is the applicable law in regard to her position in a majority of states?
a. The majority of states follow the old MBCA which follows the approach that only promoters who assume to act as a corporation when the certificate of incorporation has not been issued are jointly and severally liable for the business debts.
b. The majority of states follow the old MBCA which follows the approach that all persons who assume to act as a corporation when the certificate of incorporation has not been issued are jointly and severally liable for the business debts.
c. The majority of states follow the revised MBCA under which the filing of the articles of incorporation, regardless of whether there is a return copy stamped by the secretary of state, is conclusive proof of incorporation; and the corporation itself is liable for business debts from that point forward.
d. The majority of states follow the revised MBCA under which the filing of the articles of incorporation, evidenced by the return of the copy stamped by the secretary of state, is conclusive proof of incorporation; and the corporation itself is liable for business debts from that point forward.
Answer:
The applicable law in regard to her position in a majority of states is:
b. The majority of states follow the old MBCA which follows the approach that all persons who assume to act as a corporation when the certificate of incorporation has not been issued are jointly and severally liable for the business debts.
Explanation:
MBCA means the Model Business Corporation Act. It is noteworthy that majority of the states have not adopted fully the Revised Model Business Corporation Act, 2016. This is because some of their Corporation Acts still rely on the old MBCA. This implies that Marilyn has a favorable position and can recover from ABC Corporation the value of the equipment sold to Sam.
The amount of materials to be purchased during the budget period is equal to budgeted: A. total production needs plus units in the beginning materials inventory minus the units in the ending materials inventory. B. total production needs plus units in the ending materials inventory minus the units in the beginning materials inventory. C. units to be produced plus units in the beginning materials inventory minus the units in the ending materials inventory. D. units to be produced plus units in the ending materials inventory minus the units in the beginning materials inventory.
Answer:
. B). total production needs plus units in the ending materials inventory minus the units in the beginning materials inventory.
Explanation:
The budget period can be regarded as
period of time whereby one has the authority to spend the awarded funds in a way that meet the matching as well as the cost-sharing requirement. It should be noted that the amount of materials to be purchased during the budget period is equal to budgeted total production needs plus units in the ending materials inventory minus the units in the beginning materials inventory.
Better Health Inc. is evaluating two capital investments, each of which requires an up-front (Year 0) expenditure of $1.5 million. The projects are expected to produce the following net cash inflows: Year Project A Project B 1 $500,000 $2,000,000 2 $1,000,000 $1,000,000 3 $2,000,000 $600,000 The Discount Rate is 10% assuming a normal risk project. You may use Excel on your computer to answer this Question. Respondus has been removed from this Exam so you have access to Excel. Assume Project B is more 30% more risky than Project A and therefore would have a Discount Rate of 13% rather than 10%. What is the new NPV for Project B
Answer:
$1,468,888.29
Explanation:
Net present value is the present value of after-tax cash flows from an investment less the amount invested.
NPV can be calculated using a financial calculator
Cash flow in year 0 = $-1.5 million
Cash flow in year 1 = $2,000,000
Cash flow in year 2 = $1,000,000
Cash flow in year 3 = $600,000
I = 13%
NPV = $1,468,888.29
To find the NPV using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
List a minimum of sources of information in Australia that you could access to help you facilitate compliance with relevant international finance regulations.
Answer:
The answer is below
Explanation:
Some of the sources of information in Australia that you could access to help you facilitate compliance with relevant international finance regulations are:
1. Reserve Bank of Australia - RBA
2. Australian Prudential Regulation Authority - APRA
3. Australian Securities and Investments Commission - ASIC
4. Australian Competition and Consumer Commission - ACCC
5. Australian Communications and Media Authority - ACMA
6. Superannuation and Financial Services Industry - Royal Commission
7. Australian Financial Services Licence - AFSL
8. Australian Market Licence - AML
9. Clearing and Settlement - CS
10. Australian Consumer Law - ACL
Please comment on the specific risks (if any) that are caused by the following combination of tasks. a. A sales manager, who works on commission based on gross sales, approves credit and has the authority to write off uncollectible accounts. b. The warehouse clerk, who has custodial responsibility over inventory in the warehouse, updates the inventory subsidiary ledger and prepares an inventory summary for the general ledger department. c. The billing clerk bills customers and records sales in the sales journal d. The shop foreman approves and submits time cards to timekeeping and distributes paychecks to employees. e. The accounting clerk posts to individual account receivable subsidiary accounts and performs the reconciliation of the subsidiary ledger and the general ledger control account.
Answer:
bla bla bla
Explanation:
Kenny, Inc. is looking at setting up a new manufacturing plan in South Park. The company bought some land six years ago for $5.3 million in anticipation of using it as a warehouse and distribution site, but the company has since decided to rent facilities elsewhere. The land would net $7.4 million if it were sold today. The company now want to build its new plant on this land. The plant will cost $26.5 mill to build, and the site requires $1.32 mill worth of grading before it is suitable for construction. What is the proper cash flow amount to use as the initial investment in fixed assets when evaluating this project? (answer in millions i.e. 12.63 for $12.63 million)
Answer:
$35.22 million
Explanation:
Calculation to determine the proper cash flow amount to use as the initial investment in fixed assets when evaluating this project
Value of land today $7.4 million
Add Cost of Building $26.5 million
Add Grading cost $1.32 million
Cash flow $35.22 million
($7.4 million+$26.5 million+$1.32 million)
Therefore the proper cash flow amount to use as the initial investment in fixed assets when evaluating this project is $35.22 million
Aria Perfume, Inc., sold 3,210 boxes of white musk soap during January of 2021 at the price of $90 per box. The company offers a full refund to unsatisfied customers for any product returned within 30 days from the date of purchase. Based on historical experience, Aria expects that 3% of sales will be returned. How many performance obligations are there in each sale of a box of soap
Answer:
Aria Perfume, Inc.
There are two performance obligations involved in each sale of a box of soap.
Explanation:
a) Data and Calculations:
Number of boxes of white musk soap sold during January 2021 = 3,210
Sales price per box = $90
Performance Obligations:
Sale of box = $87.30 (97%)
Refund for returned boxes = $2.70 (3%)
Total Sales revenue to be accounted for = $280,233
Total refund expense to be accounted for = $8,667
Cash receipts should total = $288,900
b) The performance obligations are for the sale of a box of soap (97%) and refund (3%). With a sales price of $90 per box, the sales obligation should be $87.30 per box, while the refund obligation has $2.70 per box, which must be provided and accounted for separately.
Balance Sheet Below are items that may appear on the balance sheet. Required: Match each item with its appropriate classification.
Item
1. Buildings
2. Copyright
3. Supplies
4. Unearned service revenue
5. Prepaid insurance
6. Common stock
7. Rent payable
8. Accounts receivable
9. Allowance for doubtful accounts
10. Bonds payable
Classification
A. Current assets
B. Property, plant, and equipment
C. Intangible assets
D. Current liabilities
E. Long-term liabilities
F. Contributed capital
G. Retained earnings
Answer:
Item Classification
1. Buildings - Property, plant, and equipment
2. Copyright - Intangible assets
3. Supplies - Current assets
4. Unearned service revenue - Current liabilities
5. Prepaid insurance - Current assets
6. Common stock - Contributed capital
7. Rent payable - Current liabilities
8. Accounts receivable - Current assets
9. Allowance for doubtful accounts - Retained earnings
10. Bonds payable - Long-term liabilities
Explanation:
A. Current assets - Assets that exist for a period not exceeding 12 months such as supplies.
B. Property, plant, and equipment - Assets of a Physical Nature that are expected to be used for more than a year.
C. Intangible assets - Assets that do not have a physical nature and are expected to be used for more than a year.
D. Current liabilities - Short term obligation due within a period of 12 months.
E. Long-term liabilities - Long term obligations due within a period exceeding 12 months.
F. Contributed capital - Capital raised by owners of the company excluding reserves attributed to them.
G. Retained earnings - Amounts set aside out of profits that are distributable to the shareholders of the company. Therefore Incomes and expenses are found here.
Exercise 9-5 Writing off receivables LO P2 On January 1, Wei Company begins the accounting period with a $30,000 credit balance in Allowance for Doubtful Accounts. On February 1, the company determined that $6,800 in customer accounts was uncollectible; specifically, $900 for Oakley Co. and $5,900 for Brookes Co. Prepare the journal entry to write off those two accounts. On June 5, the company unexpectedly received a $900 payment on a customer account, Oakley Company, that had previously been written off in part a. Prepare the entries to reinstate the account and record the cash received.
Answer:
Wei Company
1. Journal Entries:
February 1:
Debit Allowance for Doubtful Accounts $6,800
Credit Accounts Receivable $6,800
To write-off the uncollectibles accounts of Oakley Co., $900 and Brookes Co., $5,900.
June 5:
Debit Accounts Receivable (Oakley Co.) $900
Credit Allowance for Doubtful Accounts $900
To reinstate the accounts of Oakley Co.
Debit Cash $900
Credit Accounts Receivable (Oakley Co.) $900
To record the receipt of cash from Oakley Co.
Explanation:
a) Data and Analysis:
January 1: Beginning balance of Allowance for Doubtful Accounts $30,000 credit
February 1: Allowance for Doubtful Accounts $6,800 Accounts Receivable $6,800 (Oakley Co., $900 and Brookes Co., $5,900)
June 5: Accounts Receivable (Oakley Co.) $900 Allowance for Doubtful Accounts $900
June 5: Cash $900 Accounts Receivable (Oakley Co.) $900
Use the following data to calculate the cost of goods sold for the period:
Beginning Raw Materials Inventory $31,700
Ending Raw Materials Inventory 71,700
Beginning Work in Process Inventory 41,700
Ending Work in Process Inventory 47,700
Beginning Finished Goods Inventory 73,700
Ending Finished Goods Inventory 69,700
Cost of Goods Manufactured for the period 247,700
a. $247,700.
b. $251,700.
c. $259,700.
d. $243,700.
e. $291,700..
Answer:
COGS= $251,700
Explanation:
Giving the following formula:
Beginning Finished Goods Inventory 73,700
Ending Finished Goods Inventory 69,700
Cost of Goods Manufactured for the period 247,700
To calculate the cost of goods sold, we need to use the following formula:
COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory
COGS= 73,700 + 247,700 - 69,700
COGS= $251,700
Northwest Clothing Supply has the following transactions during the year related to stockholders' equity:
January 1 Issues 3,000 shares of no-par value common stock for $22 per share.
March 15 Issues 900 shares of $20 par value preferred stock for $23 per share.
December 1 Declares a cash dividend of $1 per share to all stockholders of record (both common and preferred) on December 15.
December 15 Northwest Clothing Supply has fixed the Record Date for both common and preferred shares as December 15.
December 31 Pays the cash dividend declared on December 1.
Required:
Record each of these transactions.
Answer:
January 1
Debit : Cash $66,000
Credit : Common Stock (3,000 x $22) $66,000
March 15
Debit : Cash $20,700
Credit : Preferred Stock ($20 x 900) $18,000
Credit : Preferred Stock Paid in excess of Par ($3 x 900) $ $2,700
December 1
Debit : Dividends ($3000 + $900) $3,900
Credit : Shareholders for dividends $3,900
December 15
No Journal entry required here !
December 31
Debit : Shareholders for dividends $3,900
Credit : Cash $3,900
Explanation:
It is very important to identify the Par Value and No Par Value Stock issues.
Par Value Stock issues are sometimes issued above their Par so a Reserve - Paid In Excess of Par has to be created.
No Par Value issued are simply recorded at paid up or issue price.
what motivates engineer in an organization
Duo, Inc., carries two products and has the following year-end income statement (000s omitted): Product AR-10 Product ZR-7 Budget Actual Budget Actual Units 2,000 2,800 6,000 5,600 Sales $ $ 6,000 $ 7,560 $ 12,000 $ 11,760 Variable costs 2,400 2,800 6,000 5,880 Fixed Costs 1,800 1,900 2,400 2,400 Total Costs $ 4,200 $ 4,700 $ 8,400 $ 8,280 Operating income $ 1,800 $ 2,860 $ 3,600 $ 3,480 The sales quantity variance that would complement the variance calculated in the previous question is:
Answer:
$480
Explanation:
Calculation to determine what The sales quantity variance that would complement the variance calculated in the previous question is:
First step is to calculate Sales mix: budget for
AR-10
Total units: budget = 2,000 + 6,000
Total units: budget = 8,000
Actual units = 2,800 + 5,600
Actual units= 8,400
Sales mix: budget: 2000/8000
Sales mix: budget = 25%
(8,400-8,000) x.25 x $1.80
= $180 favorable
For ZR-7:Sales mix: budget: 6000/8000 = 75%(8400-8000) x.75 x $1.00 = $300
favorableTotal quantity variance: $180 + $300 = $480
.
Therefore The sales quantity variance that would complement the variance calculated in the previous question is:$480
Sales made on account are recorded as ____ to the sales account.
A)orders
B)debits
C)payments
D)credits
Answer:
I have a strong feeling it has to be credit