Answer:
If financial statements are prepared on January 31, the journal entry to record the adjustment would be debit rent expense and credit prepaid rent for $1,250
Explanation:
According to the given data the rent has been expired for one month so only one month's rent expense will be recorded. Therefore to calculate one month's rent expense we have to make the following calculation:
one month's rent=Total rent/period for which rent is paid*1
one month's rent=$15,000/12*1
one month's rent=$1,250
Therefore, If financial statements are prepared on January 31, the journal entry to record the adjustment would be debit rent expense and credit prepaid rent for $1,250
Answer: D) B
Explanation:
The Producer Surplus refers to the area below the Price Floor but above the Supply Curve and left of the new Quantity supplied. It comprises of areas B and E.
Before the Price Floor was introduced, area A, B and C were the Consumer Surplus as they were above the price but below the Demand Curve.
After the Price Floor was introduced however, area B has become a Producer Surplus.
Answer:
REVENUES
Explanation:
Revenue, often referred to as sales, is the income received from normal business operations and includes discounts and deductions for returned merchandise. It is the top line or gross income on a company's income statement from which all charges, costs, and expenses are subtracted to arrive at net income.
Answer:
the contribution margin per unit for part A is $1,479,000
Explanation:
The computation of the contribution margin for part A is shown below:
Contribution margin per unit is
= $950 - $600 - $95
= $255
Now for contribution margin per unit for part A is
= 5,800 units × $255
= $1,479,000
Hence, the contribution margin per unit for part A is $1,479,000
