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blsea [12.9K]
2 years ago
13

(50 points) What is the combination of what you own, earn, and invest minus the debt you owe on those things called?

Business
1 answer:
Pavlova-9 [17]2 years ago
4 0
A. Wealth, because B-D do not reflect debt
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Cork Oak Corporation purchased a heavy-duty truck (not considered a passenger automobile for purposes of the listed property and
vlabodo [156]

Answer:

$3200

Explanation:

The depreciation expense under the conventional straight line depreciation will be calculated using the following formula:

Straight-line Depreciation = (Cost - Scrap Value) / Useful Life

The useful life here is 5 years, cost is $24000 and scrap value is $0 which can be calculated using the following formula:

Straight-line Depreciation = ($24,000 - 0) / 5 Years = $4800 per year

This is for a year and we need  for the year end 31 December, 2019 for eight months.

The per month depreciation charge = $4800 / 12 = $400 per month

For 8 months = $400 * 8 months = $3200

7 0
3 years ago
The annual budgeted conversion costs for a lean cell are $180,000 for 1,000 production hours. Each unit produced by the cell req
iren2701 [21]

Answer: Please see in explanation column

Explanation:

Budgeted Conversion Cost   $ 180,000      

Total Production hours = 1,000 hours      

Conversion cost per production hour = 180,000/1,000  = $ 180 per hour  

Production time per unit produce = 20 minutes    

Conversion cost per unit -- first mins change to hrs

60min = 1 hour

20 min= 20/60=0.33hr

$ 180 x 0.333333 = $ 59.999per unit  

Material cost per unit = $ 30 per unit      

Total cost per unit production =

Material cost per unit+ conversion cost per unit = 30+ 59.999= $ 89.999per unit

a)Material Required per unit = $30 per unit      

Material purchase for 500 units =30 x 500 = $15,000    

b)Conversion cost per unit produce = $ 59.999 per unit    

number of units for conversion= 600

Conversion Cost applied for 600 units =( 600 x 59.999 = $35,999.4  rounded to $36,000

Total cost of goods complete per unit = $ 89.999 per unit    

Number of units completed = 450 units

Total Cost of Goods completed =  450  x 89.999= $ 40,499.55    =$40,500

A) JOURNAL ENTRY For purchase of raw material for 500 units at  $30        

Accounts title                         Debit                   Credit

Raw and In process Inventory   15,000    

Accounts Payable                                                             15,000  

B)JOURNAL ENTRY For applied conversion cost to in process inventory for 600 units at $59.999                                

Raw and in process inventory            $36,000

Conversion Cost                                                            $36,000  

C)JOURNAL ENTRY For completing 450 units at a total cost of $89.999

Finished Goods Inventory        $ 40,500   

Raw and in Process Inventory                              $ 40,500    

6 0
3 years ago
18. You have $$42,180.53 in a brokerage account, and you plan to deposit an additional $5,000 at the end of every future year un
melomori [17]

Answer:

it takes 15 years 10 months to  reach your goal.

Explanation:

The Fixed deposits are in the form of an ordinary annuity.

The Future Value of this Ordinary Annuity must be $207,819.47 ($250,000 - $42,180.53)

Thus find number of years that the fixed deposits would amount to $207,819.47.

Using a Financial Calculator enter the following data to calculate the period, N.

PMT = $5,000

P/yr = 1

r = 12 %

FV = $207,819.47

N = ?

Thus the number of years, N it takes to  to reach your goal is 15.7921 or 15 years 10 months.

6 0
3 years ago
On January 1, 2019, Brooks, Inc., borrows $90,000 from a bank to purchase machinery. Brooks signs a 5 percent installment note r
klasskru [66]

Answer:

A Journal entry for Brooks Incorporation on January 1, 2019 which is shown below

Explanation:

Solution

Given that:

           JOURNAL ENTRY FOR BROOKS INCORPORATION

Date               General Journal Debit Credit

Jan 01 2019                Cash        90000

                               Notes Payable          90000

Thus

A Journal entry was recorded for Brooks Incorporation.

Here, the cash of $90,000 was recorded at the debit side of the Journal.

While the notes payable of $90,000 was also recorded on the credit side

7 0
3 years ago
Calculate the total dollar of each sale. including invoiceid, invoicedate
Lunna [17]
Im not sure what you mean by that? be specific please and i will be sure to help ;)
6 0
3 years ago
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