Answer:
Material - 34,100 units
Conversion - $33,500 units
Explanation:
The computation of equivalent units for material and the conversion cost is shown below:
For material:
= completed units × percentage of completion + Ending inventory units × percentage of completion
= 33,500 units × 100% + 1,500 × 100%
= 33,500 units + 1,500 units
= 35,000 units
For conversion:
= completed units × percentage of completion + Ending inventory units × percentage of completion
= 33,500 units × 100% + 1,500 × 40%
= 33,500 units + 600 units
= 34,100 units
where,
The completion units = Beginning inventory + complete Started and completed
= 2,500 units + 31,000 units
= $33,500 units
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Answer:
The journal entries are as follows:
(a) On July 16,
Account receivable A/c Dr. $1,200
To sales revenue $1,200
(To record Sales)
Cost of goods sold A/c Dr. $720
To Inventory $720
(To record cost of goods sold)
(b) On July 19,
Sales return and allowance a/c Dr. $200
To Account receivable $200
(To record sales return)
Inventory A/c Dr. $120
To Cost of goods sold $120
(To record cost of goods return)
(c) On July 22,
Cash (1,000 × 98%) A/c Dr. $980
Sales discount A/c Dr. $20
To Account receivable $1,000
(To record amount received)
Answer:
a.less than $500,000
Explanation:
For computing the amount we need to applied the present value which is to be shown in the attachment below:
Data provided in the question
Future value = $500,000
Rate of interest = 7% ÷ 2 = 3.5%
NPER = 2
PMT = $500,000 × 6% ÷ 2 = $15,000
The formula is shown below:
= -PV(Rate;NPER;PMT;FV;type)
After applying the formula, the present value amount is $495,250.76
Answer: Corporate Charter
Explanation:
The Corporate Charter is a very important document that a company must fill when incorporating a business.
Even though the details vary per company based on the type of company it is as well as its size, generally the following have to be included;
- the name of the proposed corporation,
- types of activities the company will be involved in,
- amount of capital stock,
- number of directors, and
- names and addresses of the directors, is called the corporate
