Answer:
The total number of equivalent units for materials during the period is $55,000
Explanation:
The computation of the total number of equivalent units for materials during the period is shown below:
= Completed and transferred out units + ending work in progress units
= 50,000 units + 5,000 units
= 55,000 units
We simply added the Completed and transferred out units and the ending work in progress units to compute the equivalent units for materials
Answer:
receivable turnover ration = 6
Explanation:
credit sales = 120000
Credit sales =As we know that: Receivables turnover ration = Net credit sales /Average account receivable.
= 120000/ 20000
= 6.
it indicates that company convert its receivable to cash 6 times that year.
Answer:
May 20
No Entry
June 14
Dr. Dividends $255,000
Cr. Dividend Payable $255,000
July 14
Dr. Dividend Payable $255,000
Cr. Cash $255,000
July 31
Dr. Retained Earnings $255,000
Cr. Dividend $255,000
Explanation:
Dividend = $0.5 x 510,000 = $255,000
May 20
Dividend is declared, No entry is required
June 14
Dividend to be recorded on this date. As dividend is not paid yet so it will be recorded as payable and on the other hand dividend account is debited to make a contra capital account of dividend.
July 14
Dividend is paid as cash is paid so, it will be credited and the liability is reduced so, it will be debited.
July 31
At the end of the period we have to adjust the Dividend Contra capital account in retained earning to make the dividend account zero.
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<h3 /><h3>Why is personality traits important?</h3>
Personality corresponds to the set of psychological characteristics that a person can develop through their experiences and learning. Through such characteristics, the individual develops patterns of thought and behavior that will influence his social and professional life.
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