Answer and Explanation:
The Preparation of analysis showing whether the company should eliminate the gloves and mittens line is shown below:-
Particulars Continue Eliminate Net Income
Increase (Decrease)
Sales $500,000 0 ($500,000)
Variable
expenses $360,000 0 $360,000
Contribution
margin $140,000 0 ($140,000)
Fixed costs $148,000 $36,000 $112,000
Net income ($8,000) ($36,000) ($28,000)
The analysis showing that the Carla Vista Corporation should manufacture gloves and mittens else there loss will be increased by $28,000
The answer is savings account A.
Since savings account A compounds the interest quarterly it adds interest to the account every quarter. This makes it a more profitable account than one that compounds the interest semiannually. The reason is that the bank is adding interest more frequently, so you are earning interest on the interest that the bank has already paid you.
Answer:
TRUE
Explanation:
This is because the goal of target costs is driven by the market price and customer satisfaction.
12. After posting the journal entries to the ledger, the balance of the Cash account is <span>Credit $1,042.92.
13. </span>After posting the journal entries to the ledger, the balance of the Equipment—Store account is <span>Debit $4,500
</span><span>
14.</span>On May 3, the balance of the Equipment—Office account is <span>Debit $690
</span><span>
15. T</span>he balance of the Accounts Payable—Bellhaven Bank account is <span>Debit $1,000</span>
<span>
16. </span>After posting the journal entries to the ledger, the balance of the Supplies account is Debit $542.92
17. After posting the journal entries to the ledger, the balance of the Accounts Payable—Craft Bank account is <span>Credit $3,500
18. </span><span>After posting the journal entries to the ledger, the opening balance of the P. Woodsley—Capital account was unchanged.
19. The entry </span>you make in the Post Ref. column of the ledger to show that you posted the transactions from the journal is <span>J1
20. </span> Asset accounts are increased by entries to the debit side of the account.
Pretty sure I got all of them! Hope this helps!!
No, there is not any requirement of recording when the fair value of bonds decreases to $6000000 on December 31 of the current year.
Given that Starbucks purchased bonds with $ 7 million face value at par for cash on July 1 of the current year and the bonds pay 7 percent interest the following June 30 and December 31 and mature in three years.
We are required to tell whether there is requirement of any recording when the fair value of bonds decreases to $6000000 on December 31 of the current year.
A bond is basically a debt security, similar to an IOU and borrowers issue bonds to raise money from investors willing to lend them money for a certain amount of time. When we buy a bond, we are lending to the issuer, which may be a government, municipality, or corporation.
There is not any requirement of any recording when the fair value decreases to $600000 because it is not affecting our books of accounts because in our books they are recorded at face values.
Hence there is not any requirement of recording when the fair value of bonds decreases to $6000000 on December 31 of the current year.
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