Answer:
$4,850
Explanation:
The computation is shown below:
Total cost when the production is 13,000 units
Direct materials $10,920
Direct labor $14,690
Variable overhead $16,380
Total $41,900
And, the other case
Their new cost on supplier offer is
= $2.85 × 13,000 units
= $37,050
In the case when the order is accepted So the net income would increased by
= $41,900 - $37,050
= $4,850
Answer:
a.Preferred Stock for $475,300
and Paid-In Capital in Excess of Par—Preferred Stock for $164,900.
Explanation:
The par value it's a minimum price that the company assigns to the issued shares only to be used in the accounting system but it's not related to market price.
This par value will be shown as a separate value in the section of stockholders' equity, reported under the item Paid-in-Capital, the difference with the market price it's reported as Preferred Stock.
Cash $640.200 Debit
Preferred Stock $475.300 Credit
Paid-In Capital in Excess of Par—Preferred Stock $164.900 Credit
Answer:
Rice Co.
Journal Entries:
April 5:
Debit Inventory $28,000
Credit Accounts Payable (Jax Company) $28,000
To record the purchase of goods, terms 2/10, n/30.
April 6:
Debit Freight-in Expense $700
Credit Cash Account $700
To record the payment of freight costs for goods purchased from Jax Company.
April 7:
Debit Equipment $30,000
Credit Accounts Payable $30,000
To record the purchase of equipment on account.
April 8:
Debit Accounts Payable (Jax Company) $3,600
Credit Inventory $3,600
To record the return of goods to Jax Company.
April 15:
Debit Accounts Payable (Jax Company) $24,400
Credit Cash Discount $488
Credit Cash Account 23,912
To record the full settlement on account.
Explanation:
Rice Co's journal entries are made on a daily basis as transactions occur. They show the accounts to be debited and the ones to be credited in the general ledger. Journal entries are the initial records of transactions made by the company in its accounting system.
Answer:
In the case of Fresher Goods, Inc.v. Vernon, the trial court will possibly conclude that Vernon must complete the portion of the payment which has already been compensated for as a result of partial results.
Explanation:
Vernon accepted partial payment for the sold goods. While the Law of Frauds demanded that any contract for the selling of goods at a price of $500 or more be enforceable in writing, the oral arrangement was partially compensated and agreed by all parties. That part of the deal was binding, so Vernon would supply 100 corn bushels to Fresher for $1.25 per bushel.
The answer is shown below:
Regina apologized to clay for an e-mail that upset him. She said she had chosen an inconsiderate way of stating her idea and that she had been happy to discuss further. Regina is "Expressing consideration behavior ".
