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2 years ago

The following information relates to last year's operations at the Legumes Division of Gervani Corporation:

Business

1 answer:

yanalaym [24]2 years ago

7 0

Answer:

The Legume Division's net operating income last year was d. $45,000

Explanation:

Turnover (on operating assets) = Total Sales/ Operating assets

From the formula,

Operating assets = Total Sales/Turnover (on operating assets) = $900,000/3 = $300,000

Return on investment (ROI) is calculated by using following formula:

ROI = Net income/Total investment

Net Income = ROI x Total investment

At the Legumes Division of Gervani Corporation, Total investment = Operating assets = $300,000

Net Income = 15% x $300,000 = $45,000

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Ratling [72]

Answer:

Dr Salaries expense $7,552

Cr Accrued salaries $7,552

Being entries to record salaries payable as at year end

Explanation:

When an expense is incurred but yet to be paid by an organization, the entries required are

Dr Expense (p/l)

Cr Accrued expense (B/s)

when payment is made

Dr Accrued expense (B/s)

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Given that Zoey Bella Company has a payroll of $9,440 for a five-day workweek and the year ends on a Thursday. As such, the company as at 31 December has incurred salaries for 4 days. This has to be accrued for but first to calculate the amount

= 4/5 * $9,440

= $7,552

Hence adjusting entry required on December 31, assuming the year ends on a Thursday

Dr Salaries expense $7,552

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Being entries to record salaries payable as at year end

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D) a work-study work program

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2 years ago

The following data are from the accounting records of Niles Castings for year 2: Units produced and sold 80,000 Total revenues a

Kruka [31]

Answer:

Gross Margin = $ 115,000 Contribution Margin= $ 144,500

Explanation:

Nile Castings

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Nile Castings

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2 years ago

Ben sold his townhome on March 12. The property is subject to an HOA fee of $355 per month, which Ben prepaid for the month of M

Dvinal [7]

Answer:

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Explanation:

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= HOA fee ÷ number of days in a month

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kiruha [24]

Answer:

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