Answer:
debit Accounts Receivable $350 and credit Unearned Service Revenue $350
Explanation:
The bookkeeper incorrectly made the following journal entry:
Dr Cash 350
Cr Accounts receivable 350
The correct entry should have been:
Dr Cash 350
Cr Unearned revenue 350
So the adjusting entry should be:
Dr Accounts receivable 350
Cr Unearned revenue 350
Answer:
The order results in an incremental net income of $69,278 therefore accept
Explanation:
Consider the Incremental Costs and Revenues arising from this decision.
Since Maize has sufficient excess operating capacity, fixed costs are irrelevant for this decision.
Sales (6,400 units ×$31.76) 203,264
Variable Costs (6,400 units ×$19.94) (127,616)
Logo and Shipping Costs (6,400 units ×$1.00) (6,400)
Net Income 69,248
The order results in an incremental net income of $69,278 therefore accept
The only answer that seems to make sense is to reduce tariffs on imports but this only makes sense if it doesn't adversely affect local producers ie that it is on items which are not locally produced so as not to compete with the former items but to encourage cheaper goods for sale to assist consumers.
B. 7.85% is the is its common-size percent for cash (14000÷178300)×100
Line items are shown as a percentage of a single chosen or common figure in a financial statement of common size. A balance sheet will contain different line items depending on the type of firm and the industry. Since all businesses in a given industry deal with the same kinds of transactions, the line items utilised for their balance sheets will typically be comparable.
It is simpler to study a company over time and evaluate it against its competitors when financial statements are created in a common size. One can identify trends that a raw financial statement might not reveal by using financial statements of a common size.
Learn more about common size percent here:
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Answer:
6.0
Explanation:
Market to book ratio is calculated as ; Market capitalization / Net book value.
Where,
Market capitalization = Price per share × Total shares outstanding
= $24 × 25,000,000 shares
= $600,000,000
Then,
Net book value = Total assets - Total liabilities
= $200,000,000 - $100,000,000
= $100,000,000
Therefore,
Market to book ratio = $600,000,000 / $100,000,000
= 6.0
