Answer:
Cost per equivalent unit: $60
Explanation:
Cost per equivalent unit = (Cost of Beginning Work in Progress Inventory + Total production cost during the period) / Equivalent Units of Production (EUP)
Total Production Cost = $90,000
Equivalent Units of production (EUP) = 1,300 + 400 x 50% = 1,500 units
Cost per equivalent unit: $90,000 / 1,500 units = $60
Answer:
1. Dividends are deducted from the Statement of Retained Earnings as dividend expenses.
2. Dividends payable are reported in the Balance Sheet as current liabilities.
Explanation:
Dividends are distributions to the shareholders from earnings (income) after all expenses and taxes have been deducted from the revenue for the period. Dividends payable are unpaid dividends, which are reported as current liabilities until they are paid for in the next accounting period.
Answer:
an automatic deposit will put a set amount of money away into savings without you having to do it that way you will not have to worry about it and won't be tempted to spend it instead of saving it. it's a good strategy because it eliminates that temptation and makes it so much easier to save without falling off track
Answer:
the depreciation expense recorded is $680
Explanation:
The computation of the depreciation expense under the straight-line method is shown below:
= (Purchase cost - residual value) ÷ (estimated life)
= ($17,500 - $1,180) ÷ ( 4 years)
= $4,080
Now the 2 months depreciation is i.e. from November to December
= $4,080 × 2 months ÷ 12 months
= $680
Hence, the depreciation expense recorded is $680
Answer:
D. $6,000
Explanation:
The book value of a new asset includes the purchase price and other related costs that make it ready for use. For Woodstock company, the book value of the new machine will be the buying price of 40,000 plus 1000 transport costs.
Book value = $41,000
The straight-line depreciation method charges equal amounts throughout the life of the asset.
The depreciable amount = asset value - salvage value
=$41,000 - $5000
=$36,000
The depreciation rate = 1/6 x 100
=16.66 %
Annual depreciation = 16.66% x $36,000
=16.66/100 x $36,000
=0.16667 x $36,000
=$6,000
