Answer:
B. Notes Receivable.
Explanation:
Since the company is signed an agreement for lending out of its customers for $200,000 that could be repaid in one year at 5% interest so it is not revenue not note payable and also not account receivable
Therefore it is a note receivable
Hence, the option b is correct
and, the same is to be considered and relevant
Answer:
Direct material price variance= $21,450
Explanation:
Giving the following information:
Direct materials 4 pounds $4.70 per pound
May:
Jackson purchased 107,250 pounds of direct material at a total cost of $525,525.
To calculate the direct material price variance, we need to use the following formula:
Direct material price variance= (standard price - actual price)*actual quantity
Actual price= 525,525/107,250= $4.9
Direct material price variance= (4.7 - 4.9)*107,250
Direct material price variance= $21,450
Answer:
$291,630
Explanation:
The computation of the net cash provided by financing activities is shown below:
Cash flow from financing activities
Less: Existing debt repaid -$313,400
Add: Raised additional debt capital $649,200
Less: Repurchased stock in the open market - $44,170
Net cash provided by financing activities $291,630
We added the additional debt capital and the rest items are deducted
Answer:
Adjusted Bank Balance = $85,000
Explanation:
Adjustment of bank balance is a bank reconciliation procedure, that is used to match the amount in the bank statement with the amount in the company's balance sheet.
To adjust the bank balance, particulars that need to be subtracted or added to the bank statement balance has to be identified and treated accordingly.
For this example, the adjusted balance is calculated thus:
Adjusted bank balance = (Bank statement balance) - (outstanding checks) +(deposit in transit)
Adjusted Bank Balance = 78,000 - 2,400 + 9,400 = $85,000
Note:
outstanding checks are subtracted because they are payments to be made made by the company, representing a liability to the company (payer)
deposit in transit is an income to the company that has not been credited yet, but that will be credited.
Answer:
Option c is correct
$245,680
Explanation:
The total manufacturing cost = $737,040.
Units produced = 22,200
Cost per unit before adjustment for absorbed overhead=
=$737,040./22,200 units
=$33.2 per unit
Cost of goods sold before adjustment for overheads
= (cost per unit × units sold)
= $33.2 × 7,400
= $245,680