B. The equilibrium price is below the price ceiling.
The statement is true.
In preparing a bank reconciliation, the amount of an error indicating the recording of a check in the journal for an amount larger than the amount of the check is added to the balance per the company's records because the excess amount would be reduced from the bank balance in the company's records, So the company books are not correct. To make them correct the excess amount should be added back to the balance as per the company's records.
For example, if the check amount was 500 but the company recorded it as $550. Then means that the company records show $50 less compared to the bank statement. Therefore, that $50 is added back and then it comes equal to the bank statement balance.
When a note is written to settle open account an entry that converts the accounts receivable account to a note receivable account is required. This entry is required because when the note is written to settle accounts the company has to receive notes in the future and the amount of the account.
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In preparing a bank reconciliation, the amount of an error indicating the recording of a check in the journal for an amount larger than the amount of the check is added to the balance per company's records.
TRUE
FALSE
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Answer:
142.5
Explanation:
To determine the price forecast for year 2006 we must find the average price for the prior four years:
price forecast for 2006 = (100 + 120 + 140 + 210) / 4 = 570 / 4 = 142.5
The simple moving average (SMA) is just the average price for the previous years.
Answer:
1. Required tabulation is the Shares Authorized, the Shares Issued and the Shares Outstanding
Shares Authorized = 290,000 shares
Shares Issued
= Total Cash Collected / Price per share
= 2,170,000 / 14
= 155,000 shares
Shares Outstanding
= Shares Issued - Treasury stock
= 155,000 - 5,000
= 150,000 shares
2. Additional paid in capital account
= Gain (loss) above par
Par value is $10 and Stock was sold for $14
= (14 - 10 ) * 155,000
= $620,000
3. Earnings per share
= Net Income/ Shares outstanding
= 297,000/150,000
= $1.98
Answer:
$57,300
Explanation:
Calculation to determine the company's net operating income
Sales $840,000
($265,000+$575,000)
Less Variable expenses $463,400
($141,600+$321,800)
Contribution margin $376,600
($840,000-$463,400)
Less Traceable fixed expenses $193,100
($66,800+$126,300)
Divisional segment margin $183,500
Less Common fixed expenses $126,200
Net Operating Income $57,300
Therefore the company's net operating income will be $57,300
