Answer:
Monthly tax amount = $90.57 (Approx)
Explanation:
Given:
Purchase value = $209,000
Rate = 0.52%
Find:
Monthly tax amount
Computation:
Monthly tax amount = ($209,000 x 0.52%)/12
Monthly tax amount = 1,086.80/12
Monthly tax amount = $90.57 (Approx)
Answer:
The correct answer is $2.5, but it is not included in the option.
Explanation:
Earning per share (EPS) = Net income / Average number of common shares outstanding = $6,000,000 / 3,000,000 = $2 per share
Common stock market price per share (MPS) = $5
Price/Earnings Ratio = MPS / EPS = $5 / $2 = $2.5
The correct answer is $2.5.
Answer:
(i) $2,520
(ii) $3,096
Explanation:
Budgeted Raw Materials Purchases for July:
Total materials required = Units to be produced × Feet per unit
= 350 units × 9
= 3,150
Budgeted Raw Materials Purchases = Total materials required × Cost per foot
= 3,150 × $0.80
= $2,520
Budgeted Raw Materials Purchases for August:
Total materials required = Units to be produced × Feet per unit
= 430 units × 9
= 3,870
Budgeted Raw Materials Purchases = Total materials required × Cost per foot
= 3,870 × $0.80
= $3,096
Answer:
The net realizable value of Miller's receivables at the end of Year 2 was: $42,010
Explanation:
Open a Trade Receivable Account as follows :
Debits :
Revenue $133,000
Totals $133,000
Credits:
Cash $87,000
Balance $46,000
Totals $133,000
Note that Allowance for Doubtful debts is estimated at 3% of the Company`s Sales on Account
Allowance for Doubtful debts = $133,000 × 3%
= $ 3, 990
<u>Net realizable value of Miller's receivables</u>
Trade Receivable Balance $46,000
Less Allowance for Doubtful Debts $3,990
Trade Receivables $42,010
Answer:
Explanation:
The computation of expense amount is shown below:
= Expenses - adjusted prepaid expense + adjusted accrued expense
= $35,200 - $500 - $450
= $34,250
The adjusted prepaid expense is computed by
= Ending balance of prepaid expense - beginning balance of prepaid expense
= $1,800 - $1,300
= $500
And, the The adjusted accrued expense is computed by
= Ending balance of accrued expense - beginning balance of accrued expense
= $1,200 - $1,650
= -$450