1) freight
2)consignee
3) contract carrier
4) contairer
Sidewinder, Inc., has sales of $634,000, costs of $328,000, depreciation expense of $73,000, interest expense of $38,000, and a
OlgaM077 [116]
Answer:
$86,050
Explanation:
Data provided in the question:
Sales = $634,000
Costs = $328,000
Depreciation expense = $73,000
Interest expense = $38,000
Tax rate = 21 percent
Dividends paid = $68,000
Now,
EBIT = Sales - Cost - Depreciation
= $634,000 - $328,000 - $73,000
= $233,000
EBT = EBIT - Interest
= $233,000 - $38,000
= $195,000
Net income = EBT - Tax
= $195,000 - (0.21 × $195,000)
= $195,000 - $40,950
= $154,050
Addition to retained earnings = Net income - Dividends
= $154,050 - $68,000
= $86,050
Answer
Clarence Saunders invented self-service shopping, when he opened a grocery store in Memphis, Tennessee on 6 September 1916, under the whimsical name Piggly Wiggly.
Explanation:
Answer:
It is cheaper to make the units in-house.
Explanation:
Giving the following information:
Make in-house:
Direct material $ 8
Direct labor 24
Overhead 40
Total costs per unit $72
Buying price= $60
<u>We need to determine which option provides the lower cost. Because 40% of overhead will remain constant, we have to take it out of the equation.</u>
<u>Production cost:</u>
Direct material $ 8
Direct labor 24
Overhead= 40*0.6= 24
Total production cost= $56
It is cheaper to make the units in-house.
Answer:
1. General journal entries to record each transaction.
Jan. 1 Dr. Cr
Cash $103,000
Common Stock $103,000
Jan. 2 Dr. Cr
Inventory $38,000
Account Payable $38,000
Jan. 4 Dr. Cr
Prepaid Insurance $2,760
Cash $2,760
Jan. 10 Dr. Cr
Account Receivable $12,300
Sale $12,300
Cost of Goods Sold $7,300
Inventory $7,300
Jan. 15 Dr. Cr
Cash $33,000
Note Payable $33,000
Jan. 20 Dr. Cr
Salary Expense $33,000
Cash $33,000
Jan. 22 Dr. Cr
Cash $10,300
Sale $10,300
Cost of Goods Sold $6,300
Inventory $6,300
Jan. 24 Dr. Cr
Account Payable $15,300
Cash $15,300
Jan. 26 Dr. Cr
Cash $6,150
Account Receivable $6,150
Jan. 28 Dr. Cr
Utility Expense $1,000
Cash $1,000
Jan. 30 Dr. Cr
Rent Expense $2,150
Prepaid Rent $2,150
Cash $4,300
2.
MS Excel File is attached for T accounts Posting in Worksheet Named as " T Account". Please Find that.
3.
MS Excel File is attached for unadjusted trial balance in Worksheet Named as " Trial Balance". Please Find that.