Answer:
<u>Journal 1</u>
Debit : Prepaid Expense $37,600
Credit : Cash $18,800
Credit : Insurance Expense $18,800
<u>Journal 2</u>
Debit : Dividends $18,000
Credit : Wages $18,000
Explanation:
Journal 1
The first error has to be corrected by debiting the Prepaid Expenses by twice the amount paid to cancel the effect of a credit entry made to that account. Cash is credited to show the correct credit entry that was supposed to be made. Insurance expense is credited to cancel the debit entry made to this account in error.
Journal 2
The error made is called error of principle. This is were the transaction is recorded in the wrong class of accounts. Simply, Debit the Dividends and credit the Wages Account to record and reverse the error out of the Wages Account into the Dividends Account.
Answer:
Bonita’s break-even point in units for 2020 is 812.50 units.
Explanation:
Break-even point in units refers to the number of units of commodity that must sold by a company in order for its cost to be equal to revenue and therefore make no profit but also no loss. This can be determined for Bonita Industries as follows:
Selling price in 2020 = Selling price in 2019 * (100% - Percentage cut in selling price) = $1,000 * (100% - 40%) = $1,000 * 96% = $960
Variable expenses = $700
Fixed expenses = $780,000
Contribution per unit = Selling price in 2020 - Variable expenses = $960 - $700 = $260
Bonita’s break-even point in units for 2020 = Fixed expenses / Contribution per unit = $780,000 / $960 = 812.50 units
Therefore, Bonita’s break-even point in units for 2020 is 812.50 units.
Answer:
13.28%
Explanation:
return on stockholders' equity = net income after taxes and preferred stock dividends / average stockholders' equity
- net income = $1,429,000
- preferred stocks dividends = 8,000 stocks x $75 x 6% = $36,000
- average stockholders' equity = ($10,317,000 + $10,662,000) / 2 = $10,489,500
return on stockholders' equity = ($1,429,000 - $36,000) / $10,489,500 = 13.28%
Limited partner.
<h3>
What is a Limited partner?</h3>
- A limited partner is a shareholder whose liability for the company's debts is limited to the amount they contributed to the business.
- Silent partners are another name for limited partners.
<h3>What is Limited Partnership?</h3>
- Similar to a general partnership, a limited partnership (LP) must have at least one general partner (GP) and at least one limited partner, as opposed to the minimum requirement of two GPs for general partnerships.
- Different from limited liability partnerships, which only have limited liability for each participant, are limited partnerships.
- The GPs are, in most significant ways, in the same legal position as partners in a traditional firm: they have management control, share the right to use partnership property, divide the firm's profits into fixed shares, and have joint and several liabilities for the partnership's obligations.
Therefore, the answer is a limited partner.
Know more about a Limited partner here:
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The installation of the larger water softener corresponds to elevate the constraint in the TOC process.
Option C
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Explanation:
</u>
An idea supported by Eliyahu Goldratt, which is the hypothetical base of inventory network the executives. TOC is a model that clarifies the effect on benefit from basic leadership by a store network regarding time. TOC is likewise a technique for overseeing bottlenecks.
The "TOC (Theory of Constraints)" created by Eliyahu Goldratt is a technique for expanding throughput by overseeing "requirements" (bottlenecks). It is an idea that fills in as the hypothetical base of production network the executives and a model that clarifies the relationship of factors in business regarding how income based benefit is influenced by basic leadership in the inventory network concerning business forms as far as time.
As a figurative clarification, how about we utilize the case of "a gathering climbing", to depict the administration of improving throughput by utilizing the TOC
.
