Answer:
$177,750
Explanation:
Calculation to determine what the Accounts payable at the end of December would be:
Accounts payable = (317,000*75%)+(217,000*75%*80%)-(317000*75%*80%)
Accounts payable =$237,750+$130,200-$190,200
Account payable = $177,750
Therefore the Accounts payable at the end of December would be:$177,750
Answer:
B : $6.85
Explanation:
Because Dora, Inc. has enough capacity to fill the special order in excess of regular sales volume, the fixed cost of its remain unchanged at $196,000.
Widget variable cost per unit of Dora is 210,000/70,000 = $3
To break even on the special order, the respective total sales amount has to cover all related cost, including allocated fixed cost, variable cost as well as additional shipping charges. Putting all the numbers together, we have:
3,000 x P - 196,000 x (3,000/73,000) - 3 x 3,000 - 3,150 = 0 with P is the selling price.
Solve the equation we get P = 6.73. Option answer A,C or D will result in loss for this special order. So, the suitable answer is B.
Answer:
D
Explanation:
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Answer:
Cash basis OF accounting method $701,600
Accrual basis of accounting method$726,500
Explanation:
Computation of Al's gross income for 2020 using cash basis of accounting method
Gross income
Cash $687,600
Add advance payment $14,000
Total $701,600
Therefore Al's gross income using cash basis of accounting method will be $701,600
Computation of Al's gross income for 2020 using accrual basis of accounting method
Cash received $701,600
($687,600+$14,000)
Less: Income received but will not be earned until 2021 ($14,000)
Less: Beginning of year accounts receivable ($57,600)
Add End of year accounts receivable $96,500
$300,000
Total $726,500
Therefore Al's gross income using accrual basis of accounting method will be $726,500
Answer:
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