a. The cash that Abardeen pay for interest in Year 1 is $0.
b. Interest expense that was recognized is $2,825.
c The Total liabilities was reported is $115,825.
d. The amount of cash was paid to the bank is $118,650.
e. The amount of interest expense was reported is $2,825.
a. The amount of cash that Abardeen pay for interest in Year 1 is $0 reason being that the interest matured on March 31, 2017.
b. Interest expense:
Interest expense=($113,000 x 10% x 3 months /12)
Interest expense=$2,825
c. Total liabilities
Total liabilities= $113,000 + $2,825
Total liabilities = $115,825
d. Cash that was paid to the bank on March 31, 2017:
Cash= $113,000 Principal + ($113,000 × 10% × 6/12)] Interest
Cash= $113,000 Principal +$5,650 interest
Cash= $118,650
e. Interest expense reported on the 2017 income statement:
Interest expense=$113,000 × 10% ×3/12
Interest expense=$2,825
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How can a Project Manager void project team cohesiveness?
Hands-On/Hands-Off approach
Ease up and less-intense attitude
Invoke Task Urgency
Make communicating and collaboration simplistic
Use micromanagement
A project manager can potentially undermine project team cohesiveness by adopting certain approaches or behaviors. Here are five ways that a project manager could contribute to a lack of cohesiveness within the team:
How can a Project Manager void project team cohesiveness?Hands-Off Approach: If the project manager adopts a hands-off approach and fails to provide clear direction, guidance, or support to the team members, it can lead to confusion and a lack of unity among team members.
Ease Up and Less-Intense Attitude: If the project manager displays a lack of commitment or enthusiasm towards the project, it can negatively impact the motivation and engagement of the team. This can result in reduced collaboration and cohesiveness.
Invoking Task Urgency: While a sense of urgency is necessary for project success, excessive and unrealistic pressure on the team to constantly rush tasks and meet aggressive deadlines can lead to stress, burnout, and a breakdown in team cohesiveness.
Simplistic Communication and Collaboration: If the project manager does not facilitate effective communication and collaboration channels, such as regular team meetings, sharing of information, and fostering an environment of open dialogue, it can hinder the team's ability to work together cohesively.
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You work in the finance division of a company listed in the Stock Exchange. You have just learned that your supervisor has been using infomation on quarterty retums, prior to the time they are made public, to trade in the company's stock. Is this unethical? If yes, name the elhical issue. Explain why you think there is or not an ethical issue
Answer:
Yes it is. Ethical issue ⇒ Insider Trading.Explanation:
Trading on the stock exchange is supposed to be as fair as possible so that every investor has a fair chance of making returns. If a person - like this supervisor - is using information that is material but not publicly disclosed yet to trade on markets, the fairness of the market is compromised because the person will have an edge over other investors which will enable them make unfair profits.
Information on quarterly returns is usually material so we can expect it to be material here as well which means that the supervisor is engaged in insider trading.
Insider trading is not only unethical but also highly illegal. Reporting your supervisor can get them sent to jail.
Suppose that the demand and suppig equations of a consumer are given by: dd 150-sop Qu = 60+40p A, Show graphically and co-pute the consumer surplus? B. show graphically and compute the change in consumer-surpius Lohen the price changes to 2 ?
The change in CS when the price increases from $30 to $32 are $22.
Suppose that the demand and supply equations of a consumer are given by:Qd = 150 - 5P and Qs = 60 + 4P, respectively.
Graphical representation of consumer surplus and change in consumer surplus us consider the graph of the given demand and supply equations below: Graph of the given demand and supply equationsWe can observe from the graph above that the equilibrium price is $20 and the equilibrium quantity is 70.
The consumer surplus (CS) can be calculated as the difference between the maximum price that the consumer is willing to pay and the actual price paid.
Suppose that the consumer purchases 40 units of the commodity at a price of $30 per unit.
The CS can be calculated as follows: Maximum price that the consumer is willing to pay is calculated as the difference between the intercept of the demand curve on the vertical axis and the price for the quantity demanded of 40 units as follows: Maximum price = $150 - 5(40) = $-50
This is because the maximum price that the consumer is willing to pay cannot be negative, hence, we conclude that the consumer surplus for a price of $30 is zero.
If the price increases to $32, the consumer will reduce the quantity demanded to 38. The change in consumer surplus is calculated as the difference between the initial and new CS as follows: Initial CS = 0New CS = (150 - 5(38)) - (32)(38) = $22
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which business function is concerned with delivering a product or service to customers?
Answer:
Production
Production departments or companies are the manufacturing branches of a business to produce products or delivery of services to customers
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Answer:
I agree, I see the strength in your work
Samsung invested $21,766 in the current year to expand its manufacturing capacity. Assume that these assets have an 8-year life and generate net cash flows of $4,000 per year, and that Samsung requires a 7% return on its investments. (Samsung $s in millions.)
Required:
Compute break-even time. (Round "Break even time" answer to 1 decimal place.)
The break-even time, which is 5.7 years (rounded to 1 decimal place). This means that Samsung will recoup its initial investment in 5.7 years, after which the project will begin generating positive returns.
What is break-even time?
Break-even time is the amount of time it takes for an investment to generate enough cash flows to cover its initial cost, including any associated expenses such as interest and taxes. It represents the point at which the investment becomes profitable and is no longer operating at a loss.
To compute the break-even time, we need to find the point in time at which the cumulative net cash flows equal the initial investment of $21,766. We can use the present value formula to calculate this.
PV = CF / \((1 + r)^{n}\)
Where:
PV = present value (initial investment)
CF = net cash flow per period
r = required rate of return
n = number of periods
Plugging in the given values, we get:
21,766 = 4,000 / \((1 + 0.07)^{1}\) + 4,000 / (1 + 0.07)² + ... + 4,000 / \((1 + 0.07)^{8}\)
Using a financial calculator or spreadsheet software, we can solve for the break-even time, which is 5.7 years (rounded to 1 decimal place). This means that Samsung will recoup its initial investment in 5.7 years, after which the project will begin generating positive returns.
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Fair Oaks Farms’ manure management, specifically the use of cow manure to power their facilities and fuel their milk tankers, is most closely related to which source of competitive advantage?
Answer:
Natural resources
Explanation:
Im not quite sure what your asking but if im right I think they have the competitive advantage of natural resource which would be the cow poop/manure that theyre using to power there facilities and fuel milk tankers.
sorry if im wrong
Fair Oaks Farms’ manure management, specifically the use of cow manure to power their facilities and fuel their milk tankers, is most closely related to sustainability management.
What is sustainability management?Sustainability management is a management discipline which embraces corporate strategies, operational capabilities, competencies, behaviours and cultures. The focus is on the products, services and the enterprise.
The supply chain is also the focus. The goal is to bring optimal balance to the performance of the organisation. It also aims to improve economic, environmental and social outcomes.
It is basically the production or consumption to minimize the impact on the environment and maximize the conservation of resources and their reuse.
The depletion and degradation of our natural resources is the reason why this is a much-needed and should also be a much-utilized idea.
Therefore, Fair Oaks Farms’ manure management, specifically the use of cow manure to power their facilities and fuel their milk tankers, is most closely related to sustainability management.
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The amount you pay for an insurance policy; can be paid monthly, quarterly, semi-annually, or annually.
Answer:
Premium
Explanation:
premium is the term used to describe payment made for insurance coverage. Premiums are paid by the policyholder to the insurance company. It is the insurance company that determines how much premiums the insured will be paying. Premiums are paid every end month, bi-weekly, monthly, or yearly as stated in the policy document. In other words, premium is the cost of insurance.
Which of the following key performance indicators can be used to measure whether each store is
meeting its sales goals?
A. Number of sales per store location
B. Overall company growth
C. Profit made per sale
D. Number of sales per employee
Why do you think most of the jobs in the United States and Canada are service jobs?
Answer:
Canada is also important to us for reasons of security.as the United States is to Canada. Explanation:
Through Canada pass the shortest flying routes from our country to Europe and Asia, the two continents that contain most of the world's population, wealth, and power.
Jardine Consulting Co. has the following accounts in its ledger: Cash, Accounts Receivable, Supplies, Office Equipment, Accounts Payable, Common Stock, Retained Earnings, Dividends, Fes Earned, Rent Expense, Advertising Expense, Utility Expense, Miscellaneous Expense.Journalize the following selected transactions for March 2016 in a two-column journal. Journal entry explanations may be omitted.Mar.1. Paid rent for the month, $2,500.3. Paid advertising expense, $675.5. Paid cash for supplies, $1,250.6. Purchased office equipment on account, $9,500.10. Received cash form customers on account, $16,550.15. Paid creditor on the account, $3,180.27. Paid cash for repairs to office equipment, $540.30. Paid telephons bill for the month, $375.31. Fees earned and billed to customers for the month, $49,770.31. Paid electricity bill for the month, $830
Answer:
Mar.1
Rent Expense $2,500 (debit)
Cash $2,500 (credit)
Mar.3
Advertising Expense $675 (debit)
Cash $675 (credit)
Mar.5
Supplies $1,250 (debit)
Cash $1,250 (credit)
Mar.6
Office equipment $9,500 (debit)
Accounts Payable $9,500 (credit)
Mar.10
Cash $16,550 (debit)
Accounts Receivable $16,550 (credit)
Mar.15
Accounts Payable $3,180 (debit)
Cash $3,180 (credit)
Mar.27
Miscellaneous Expense $540 (debit)
Cash $540 (credit)
Mar.30
Utility Expense $375 (debit)
Cash $375 (credit)
Mar. 31
Accounts Receivable $49,770 (debit)
Fees Earned $49,770 (credit)
Mar. 31
Utility Expense $830 (debit)
Cash $830 (credit)
Explanation:
Telephone Bill and Electricity Bill are both utilities used for operations hence entered under Utility Expense Account.
Repairs to Office Equipment was entered in the Account Title Miscellaneous Expense because of all the Account Titles for this Company, this is the most appropriate.
1. When distribution team members use replenishment reports to retrieve quantities of items to be sent to stores they are:
O A. Mixing
O B. Sending
O C.Packing
O D. Picking
Answer:
D. Picking.................
Distribution team members use replenishment reports to retrieve quantities of items to be sent to stores, this is called as Picking. Hence, Option D is the correct statement.
What is the picking system?Systems for picking orders from warehouses are created to improve picking operations' effectiveness, speed, and accuracy. A few of these systems can be used by businesses to improve order fulfillment processes in their distribution channels.
Hence, Distribution team members use replenishment reports to retrieve quantities of items to be sent to stores, this is called as Picking. Option D is the correct statement.
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what is the meaning of gpp in poultry industry
Answer:
five year ghana poultry program
Explanation:
Networking is the most effective search method for finding job leads.
Please select the best answer from the choices provided
10
OT
OF
The given statements of networking is true.
Networking
Making relationships with others who have similar interests for social or business goals is referred to as networking. More often than not, it is the moniker offered to business contacts in order to advance one's professional career. People typically join networking organisations based on a single common interest shared by all members. A professional affiliation, such as stockbrokers, is the most visible. Nonetheless, some people find excellent networking opportunities through a college alumni association, a social group at a church or synagogue, or a private club.
Professionals may network in order to identify contacts who can assist them with future business or career opportunities. It is a highly successful method for generating employment leads and establishing career objectives.
Since A(true) is the correct answer.
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Which country has the goal of being the first to eliminate fossil fuel usage in its borders? Costa Rica Sweden USA Scotland None of the above Elon Musk (Tesla founder) and Stephen Hawking believe that Al is humanity's biggest threat. True False 86% of Japanese employers indicated that they had difficulty in filling positions in 2016. True False
The ambition of Sweden aims to be the first nation to completely ban the use of fossil fuels within its boundaries.
A priceless natural resource, fossil fuels have long been used to power our planet. For things like transportation, heating, and energy, we depend on them. Sadly, fossil fuels are a significant cause of climate change.
Because once fossil fuels were burned, greenhouse gases like carbon dioxide as well as others have been expelled throughout the atmosphere,, trapping heat and causing global warming. We must discover ways to lessen our dependency on fossil fuels and shift to cleaner, renewable energy sources as the world becomes more conscious of the catastrophic repercussions of climate change.
Hence, the correct option is "SECOND".
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Determine whether each characteristic describes a general partnership (GP), limited liability company (LLC), both, or neither.
a. Must pay a business (corporate) income tax
b. When the business cannot pay its debts, creditors can take the owners' personal assets.
c. All owners can have management duties. TLC
d. The owners are often referred to as members.
e. Ownership is split among two types of owners: general and limited partners.
f. Owners have limited liability e.
Answer:
Explanation:
A general partnership is formed when two or more individuals come together and agree to share all their profits, assets, and the legal and financial liabilities.
Limited liability Company is a private company whereby the owners will be legally responsible for its debts based on the contribution of the capital thst they invested.
a. Must pay a business (corporate) income tax.
Neither. The above characteristic doesn't describe a general partnership (GP), or a limited liability company. They don't have to pay a corporate tax but will pay personal income tax by the owner.
b. When the business cannot pay its debts, creditors can take the owners' personal assets.
General partnership. When the business cannot pay its debts, creditors can take the owners' personal assets is a characteristics of general partnership.
c. All owners can have management duties.
Limited liability company. The above is a characteristics of limited liability company because all the members have equal status.
d. The owners are often referred to as members.
Limited liability Company. The owners of a limited liability Company are often referred to as members. This is contained in the Article of Organization.
e. Ownership is split among two types of owners: general and limited partners.
Neither. Ownership is split among two types of owners: general and limited partners isn't q characteristics of general partnership or limited liability Company.
f. Owners have limited liability.
Limited liability Company. Here, the owners have limited liability.
Answer:
Explanation:
for a sole proprietorship its
there are more than one owner, and liability is unlimited or can be unlimited
for a general partnership its
there are more than one owner, and liability is unlimited or can be unlimited
for a corparation its
theres more than one owner, and stocks may be used to generate income
that is it injoy
Dale is a guitar teacher and Terrence is a tile layer. If Dale teaches Terrence's daughter to play the guitar in
exchange for Terrence tiling Dale's kitchen floor,
a. only Dale is made better off by trade.
O b. both Dale and Terrence are made better off by trade.
c. neither Dale nor Terrence are made better off by trade.
O d. only Terrence is made better off by trade.
If Dale teaches Terrence's daughter to play the guitar in exchange for Terrence tiling Dale's kitchen floor Option B. both Dale and Terrence are made better off by trade.
In this scenario, Dale is a guitar teacher and Terrence is a tile layer. Dale teaches Terrence's daughter how to play the guitar in return for Terrence tiling Dale's kitchen floor. It is a classic example of trade and bartering. Dale, the guitar teacher, would have had to pay for tile installation if he hadn't bartered with Terrence, the tile layer. Terrence, on the other hand, would have had to pay for guitar lessons if he hadn't traded with Dale.
Both Dale and Terrence, therefore, benefit from the trade, and they are both better off as a result. Because Dale receives tile installation in exchange for teaching guitar lessons, and Terrence receives guitar lessons in exchange for tile installation, both benefit.
In conclusion, the answer is (b) both Dale and Terrence are made better off by trade. When both parties are better off after a trade, it is known as a mutually beneficial trade. Trade, in general, promotes mutual gains by allowing people to concentrate on what they do best and exchange their output with others for goods and services that they desire. Therefore, the correct option is B.
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What differentiates the master builder approach prior to the Renaissance from later approaches?
A. The architect and engineer roles are clearly separated into separate project phases.
B. Knowledge is confined to particular individuals and not shared or formalized into a recognizable set of standards.
C. The engineering and construction roles dominated projects because architectural designs were so simple.
D. Projects do not depend on individual knowledge but leverage the total knowledge of the team.
Answer:
Design-Build, though not new as a delivery method for building projects, appears to be on the rise. Traditionally known as the Master-Builder method, it is a means of building where one party holds responsibility for both the design and the construction. The Master-Builder method was the only method before the now ubiquitous design-bid-build project structure. The Romans for example, famous for their roads, aqueducts, and amphitheaters, did not design a project, bid it out to subcontractors, and then select the low bidder to build it, but rather designed and built structures in a collaborative, somewhat simultaneous fashion. In building a house for a client during Colonial times, one party, such as a master carpenter, was responsible for delivering the general layout and exterior details, selecting structural members, and completing construction. In this way, the carpenter acted as the architect, engineer, and builder simultaneously. The concept of design, bid, and build arose out of the natural specialization of the architect, engineer, and builder in the post-1850s world, where modern structural engineering was born and separated from architecture, and architects and builders fully separated as distinct and separate entities.
Explanation:
thats what is said when i looked it up.....5 wedsits
Answer:
B. Knowledge is confined to particular individuals and not shared or formalized into a recognizable set of standards.
Explanation:
In the context of marketing management philosophies, a sales orientation aims at
Answer:
In the context of marketing management philosophies, a sales orientation aims at: Pushing manufacturers' products more aggressively to achieve high profits. A production orientation philosophy focuses on: Assessing the resources of a firm.
Kray Inc., which produces a single product, has provided the following data for its most recent month of operations: Number of units produced 5,500 Variable costs per unit: Direct materials $ 39 Direct labor $ 27 Variable manufacturing overhead $ 11 Variable selling and administrative expense $ 5 Fixed costs: Fixed manufacturing overhead $ 401,500 Fixed selling and administrative expense $ 451,000 There were no beginning or ending inventories. The variable costing unit product cost was:
Answer:
the variable costing unit product cost is $77
Explanation:
The computation of the variable costing unit product cost is shown below:
= Direct material + direct labour + variable manufacturing overhead
= $39 + $27 + $11
= $77
hence, the variable costing unit product cost is $77
We simply added the three items so that the variable costing unit could come
The same would be relevant
Discuss the challenge created for financial accountants by the presence of uncertainty.
Uncertainty creates challenges for financial accountants in accurately measuring, reporting, and disclosing financial information.
The presence of uncertainty poses significant challenges for financial accountants. Uncertainty refers to the lack of predictability or reliability in future events or outcomes, which makes it difficult to accurately measure and report financial information. Here are some key challenges created by uncertainty:
Measurement and valuation: Uncertainty makes it challenging to determine the appropriate measurement and valuation of assets, liabilities, revenues, and expenses.
Financial accountants must make estimates and judgments based on available information, assumptions, and professional judgment. However, the accuracy of these estimates may be compromised by the inherent uncertainty.
Financial statement presentation: Uncertainty affects the presentation of financial statements. Accountants must disclose the nature and extent of significant uncertainties that could impact the company's financial position and performance. However, determining which uncertainties are material and require disclosure can be subjective and complex.
Risk assessment: Uncertainty introduces risk into financial reporting. Accountants need to assess and manage risks associated with uncertain events, such as changes in market conditions, legal disputes, or environmental factors. They must consider the potential impact of these risks on financial statements and disclose them appropriately.
Forecasting and decision-making: Uncertainty makes forecasting and decision-making challenging for financial accountants. They need to analyze financial data and projections while considering the potential impacts of uncertain factors.
This requires them to use sophisticated models, scenario analysis, and sensitivity analysis to assess the range of possible outcomes.
Regulatory compliance: Financial accountants must comply with accounting standards and regulatory requirements. Uncertainty adds complexity to compliance efforts, as new and evolving regulations may require additional disclosures or adjustments to financial statements to reflect uncertain events or future obligations.
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what is a tax bracket?
Answer:
its like different groups if you make more money your in a higher tax bracket but if you make less money your in a lower tax bracket.
Explanation:
What accounting book is used to capture changes to the trial balance
The accounting book used to capture changes to the trial balance is the general Journal.
The general journal is a chronological record of all financial transactions that affect account balances, including adjustments and corrections. It is where entries are first recorded before being posted to the appropriate accounts in the general ledger.
Journal entry refers to the process of entering business transactions in a journal called a Journal, which is then used to prepare the company's financial statements. The journal data will be extracted in order to create a ledger report.
The general journal assists in maintaining an accurate and full record of all modifications made to the trial balance, assuring the accounting system's integrity.
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Considering the relationship between average total cost and marginal cost, the marginal cost curve for this firm must _____
a. be U-shaped.
b. be horizontal.
c. be horizontal.
c. lie entirely below the average total cost curve.
d. lie entirely above the average total cost curve.
The marginal cost curve is steeper than the average total cost curve where the average total cost curve for a natural monopoly crosses the demand curve.
By dividing the total cost by the amount produced, the average total cost of a firm's production is determined. For the majority of businesses, a U-shaped graph is produced by the average total cost (ATC) on the y-axis and the volume of production on the x-axis. The little rectangle above the primary revenue rectangle represents the company's profit. I mean a TR-TC. A loss would occur if the monopolist's average cost was higher than the price of the goods produced by the enterprise. The reason the corporation is in the red in the right-hand graph is that its average cost curve is higher than its pricing.
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Smith, Inc., has the following stockholders’ equity accounts as of January 1, 2021: Preferred stock—$100 par, nonvoting and nonparticipating, 6% cumulative dividend $ 2,250,000 Common stock—$20 par value 4,250,000 Retained earnings 10,250,000 Haried Company purchases all of Smith's common stock on January 1, 2021, for $14,550,000. The preferred stock remains in the hands of outside parties. Any excess acquisition-date fair value will be assigned to franchise contracts with a 40-year remaining life. During 2021, Smith reports earning $700,000 in net income and declares $610,000 in cash dividends. Haried applies the equity method to this investment. What is the noncontrolling interest's share of consolidated net income for this period? What is the balance in the Investment in Smith account as of December 31, 2021? What consolidation entries are needed for 2021?
The specific consolidation entries would depend on the specific details of the transactions and the accounting policies adopted by the companies involved.
To determine the noncontrolling interest's share of consolidated net income for the period and the balance in the Investment in Smith account as of December 31, 2021, we need to calculate the noncontrolling interest's share of net income and the equity method adjustment.
1. Noncontrolling interest's share of consolidated net income for the period:
Net income for Smith, Inc. in 2021 is $700,000. Since Haried Company applies the equity method to its investment, it recognizes its share of Smith's net income as an increase in its Investment in Smith account.
Noncontrolling interest's share of consolidated net income = Net income for Smith, Inc. - Haried Company's share of net income
Net income for Smith, Inc. - Haried Company's share of net income = $700,000 - Haried Company's share of net income
2. Balance in the Investment in Smith account as of December 31, 2021:
The Investment in Smith account represents Haried Company's initial investment in Smith, Inc. and any subsequent adjustments based on the equity method. To calculate the balance in the Investment in Smith account as of December 31, 2021, we need to consider the initial investment, share of net income, dividends, and any equity method adjustments.
Balance in the Investment in Smith account as of December 31, 2021 = Initial investment + Haried Company's share of net income - Dividends +/- Equity method adjustments
3. Consolidation entries for 2021:
Since Haried Company applies the equity method, the consolidation entries for 2021 would involve recording the initial investment, recognizing Haried's share of Smith's net income, and adjusting for any dividends declared by Smith.
The specific consolidation entries would depend on the specific details of the transactions and the accounting policies adopted by the companies involved. Generally, the entries would involve debiting the Investment in Smith account for the initial investment, crediting the equity or investment income account for Haried's share of net income, and debiting the Investment in Smith account for any dividends received.
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Why is it important to learn about finances?
☁️ Answer ☁️
Money Management Is A Learned Skill. Knowledge is power.
"Learning about personal finance gives you the knowledge and understanding to make smart money choices. Thus, you become more in control of your own life and are empowered to do the things that matter most to you. Learning how to manage your money means learning how to become free"
Hope it helps.
Have a nice day noona/hyung.
MAKARO SUPERSTORE TRIAL BALANCE 31 December, 2022 Capital 30000$ Plant and Machinery 50,000$ Debtors 200,000$ Creditors 100,000$ Loan 95,000$ Interest on Loan 3,000$ Cash 20,000$ Provision for Doubtful Debts 7,000$ Stock on 1st April, 2017 68,000$ Motor Vehicles 100,000$ Bank 35,000$ Land and Building 120,000$ Bad Debts 5,000$ Purchases 660,000$ Sales 1,100,000$ Purchases Return 15,000$ Sales Return 80,000$ Transportation Out Carriage Outwards 25,000$ Transportation In Carriage Inwards 30,000$ Salaries 90,000$ Rent and Insurance 30,000$ Advertising 35,000$ Discount Received 5,000$ General Expenses 34,000$ Bills Receivable 60,000$ Bills Payable 20,000$ Rent Received 3,000$
To prepare the Makara store balance sheet, we will categorize the items into their respective asset, liability, and equity categories.
MAKARO SUPERSTORE Balance Sheet As of 31 December, 2022Assets:
Plant and Machinery: $50,000
Debtors: $200,000
Cash: $20,000
Stock: $68,000
Motor Vehicles: $100,000
Bank: $35,000
Land and Building: $120,000
Bills Receivable: $60,000
Total Assets: $653,000
Liabilities:
Creditors: $100,000
Loan: $95,000
Interest on Loan: $3,000
Provision for Doubtful Debts: $7,000
Bills Payable: $20,000
Total Liabilities: $225,000
Equity:
Capital: $30,000
Total Equity: $30,000
Total Liabilities and Equity: $653,000
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Southwest Pediatrics has the following balances on December 31, 2021, before any adjustment: Accounts Receivable = $111,000; Allowance for Uncollectible Accounts = $2,100 (debit). On December 31, 2021, Southwest estimates uncollectible accounts to be 20% of accounts receivable.
The question is not specified but most probably requires the calculation and recording of the Bad debt expense for the month.
The relevant journal entry is:
Date Account Title Debit Credit
Dec. 31 Bad debt expense $24,300
Allowance for Uncollectible Accounts $24,300
Uncollectible account = 20% of Accounts receivable
= 20% x 111,000
= $22,200
Bad debt expense = Uncollectible accounts + Allowance for Uncollectible Accounts
= 22,200 + 2,100
= $24,300
As an expense, bad debts will be debited to an expense account to show it is increasing. The Allowance account will be credited as a liability account.
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50 points! Please help!
Which type of flowchart scheduling technique has a fixed duration of production activities? In which type of flowchart are they probabilistic?
The ____ type of flow chart has a fixed duration for production activities. The ___ type has a probabilistic duration for production activities.
1. A. IPM, B. CPM or C. FDA
2. A. PACT, B. KENT, or C. PERT)
Fickel Company has two manufacturing departments—Assembly and Testing & Packaging. The predetermined overhead rates in Assembly and Testing & Packaging are $19.00 per direct labor-hour and $15.00 per direct labor-hour, respectively. The company’s direct labor wage rate is $21.00 per hour. The following information pertains to Job N-60: Assembly Testing & Packaging Direct materials $ 375 $ 39 Direct labor $ 168 $ 84 Required: 1. What is the total manufacturing cost assigned to Job N-60? (Do not round intermediate calculations.) 2. If Job N-60 consists of 10 units, what is the unit product cost for this job?
The total manufacturing cost assigned to Job N-60 is $ 696. If Job N-60 consists of 10 units, the unit product cost for this job is $111.00.
How to find the manufacturing costs ?Direct materials (Assembly + Testing & Packaging) = $375 + $39
= $414
Direct labor (Assembly + Testing & Packaging) = $168 + $84
= $252
Overhead applied (Assembly + Testing & Packaging) = $19 * 168 + $15 * 84 = $316 + $126
= $442
Total manufacturing cost = $414 + $252 + $442
= $1110
Unit product cost = Total manufacturing cost / Number of units
= $1110 / 10
= $111.00
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