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2 years ago

Use the following information.

Business

1 answer:

mr Goodwill [35]2 years ago

8 0

Answer:

35.85 days

Explanation:

I suppose the question reads "What is the days' sales in receivables for 2010?"

To find the days' sales in receivables for 2010, use the following:

Days Sales in Receivales for 2010 = (Accounts Receivable in 2010 / Annual Sales) * 365

Where accounts receivable in 2010 from the information given is 940.

Annual sales = $9,570

Therefore,

Days Sales in Receivales for 2010 = $(\frac{940}{9570}) * 365$

= 35.85 days

The days' sales in receivables for 2010 is 35.85 days

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Hunkins Corporation has provided the following data concerning last month's operations. Purchases of raw materials $ 33,000 Indi

nalin [4]

Answer:

Cost of goods manufactured $ 159,000

Explanation:

Direct materials:

Beginning raw materials inventory $ 14,000

Add: Purchases of raw materials 33,000

Total raw materials available 47,000

Less: Ending raw materials inventory 20,000

Raw materials used in production 27,000

Less: Indirect materials included in manufacturing overhead 4,000 23,000

Direct labor 58,000

Manufacturing overhead cost applied to work in process 91,000

Total manufacturing costs 172,000

Add: Beginning work in process inventory 57,000

Total 229,000

Less: Ending work in process inventory 70,000

Cost of goods manufactured $ 159,000

Therefore the direct materials cost for the month on the Schedule of Cost of Goods Manufactured is $159,000

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3 years ago

What causes a liability to be credited and an expense to be debited?

UkoKoshka [18]

<span> Recording the accrual of salaries incurred.</span>

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3 years ago

Aarp expects agents offering aarp-branded products to demonstrate five key behaviors when interacting with customers. Aarp wants

Andre45 [30]

Answer: Effortless and inspiring

Explanation:

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2 years ago

On January 1, Concord Corporation had 113000 shares of $10 par value common stock outstanding. On March 17 the company declared

Alik [6]

Answer and Explanation:

The Journal entry is shown below:-

March 17

Stock Dividend Dr, $84,750 (113,000 × 5% × $15)

To Common Stock Dividend Distributable $56,500 (113000 × 5% × $10)

To Paid in capital in excess of Par - Common Stock $28,250

(Being stock dividend is recorded)

Here we debited the stock dividend and we credited the Common Stock Dividend Distributable and Paid in capital in excess of Par - Common Stock

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3 years ago

A corporation issued 2,500 shares of its no par common stock at a cash price of $11 per share. The entry to record this transact

Rus_ich [418]

Answer:

B. Debit cash $27,500 ; Credit common stock $27,500

Explanation:

The journal entry to record the transaction is;

Cash account Dr $27,500

(2,500 shares × $11)

To Common stock account Cr $27,500

Cash is an asset hence debited because it decreases as it was used to pay for bills while common stock is credited because it increases shareholder's equity.

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3 years ago