Answer:
29,000 units
Explanation:
The computation of the number of units produced next year is shown below:
Number of units produced next year = Ending finished goods inventory units + budgeted sales units - beginning finished goods inventory units
where,
Ending finished goods inventory units is 6,000 units
Budgeted sales units is 26,000 units
And, the beginning finished goods inventory units is 3,000 units
So, the number of units produced is
= 6,000 units + 26,000 units - 3,000 units
= 29,000 units
We simply applied the above formula
Answer:
True or False
True - explanation below
Explanation:
The congress has been able to prevent the widespread stoppages because they have the power to enforce the emergency board recommendations. These recommendations were viewed by the parties to be very valuable and could definitely serve as the grounds for the resolutions of disputes that may arise.
A one-day rail strike that happened in 1991 was resolved by the congress by enacting PUB L.102 -29 which was said to have the effects of imposing many of the recommendations of Presidential Emergency Board ( PEB) 219
Answer:
August 2 Notes Receivable 8000 Dr
Accounts Receivable- Ryan 8000 Cr
October 30 Interest receivable 220 Dr
Interest Revenue 220 Cr
October 31 Cash 8220 Dr
Notes Receivable 8000 Cr
Interest Receivable 220 Cr
Explanation:
When we receive the Note against the Accounts Receivable, we will credit the Accounts Receivable to close the account of Ryan and create a new current asset account of Notes Receivable on August 2.
On October 30, 90 days period of Note is complete so we will record the interest that is receivable for us on this note.
- Interest Receivable = 8000 * 11% * 90/360 = $220
We record this as Interest Receivable as we have not received this and credit Interest revenue as it is our income.
On 31 October, when we receive cash it will be total of Notes payable and Interest so we will debit cash by 8220 and credit the Notes payable and interest receivable.
Answer: The correct answer is c. increase in Discount on Notes Payable for $2,100.
Explanation: 6% of $35,000 for a year is $2,100. From the facts in the question, the Bank deducted the interest in advance, this means the net cash York Construction Company got was $35,000 - 2,100 = $32,900 but note that this does not change the principal amount obligation the Company is obliged to pay the bank, which remains $35,000. What the Company needs to do is to recognize the $35,000 as Notes Payable (Debit Cash and Credit Notes Payable) and recognize a Discount on Notes Payable of $2100 (Debit Discount on Notes Payable and Credit to Cash). Subsequently, based on the 1-year tenor, the Company would unwind the discount to finance charge / interest expense as $2,100 / 12 = $175 monthly (Debit Interest expense; Credit Discount on Notes Payable).
