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3 years ago

The following items are taken from the financial statements of Cullumber Company for 2022:

Business

1 answer:

Doss [256]3 years ago

4 0

Answer:

Cullumber Company

Balance Sheet

As at 2022

Explanation: Amount in $

Current Assets

Accounts Receivable 12,500

Cash 13,000

Prepaid Insurance 6,600

Supplies 4,600

Total Current Assets 36,700

Non-Current Assets

Equipment (225,000-36,900) 188,100

Total Assets 224,800

Liabilities & Shareholders' Equity

Current Liabilities

Accounts Payable 10,600

Notes Payable 65,000

Salaries Payable 3,900

Total Current Liabilities 79,500

Equity

Common Stocks 97,000

Retained Earnings (25,900+133,000-21,400-13,600-2,600-16,800-33,500-6,700) 64,300

Dividends (16,000)

Total Equity 145,300

Total Liabilities & shareholders' equity 224,800

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What are examples of career fields Skills USA prepares students for? Check all that apply.

MissTica

Answer:

Health

Education

Information technology

Agriculture

Manufacturing

Explanation:

First let's define a career field skills:

A career field skills is an extra skill or a transferable skill which one can develop on his journey of life in such a way that one can be self employed with it.

Health skills

Education skills

Information technology skills

Agriculture skills

Manufacturing skills

The above mentioned skills are example of career fields Skills USA prepares students for so that they can earn even without working for anyone.

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3 years ago

Business Solutions sells upscale modular desk units and office chairs in the ratio of 3:2 (desk unit:chair). The selling prices

Doss [256]

Answer:

Results are below.

Explanation:

First, we need to calculate the selling price per composite unit:

selling price per composite unit= 1,280*0.6 + 530*0.4

selling price per composite unit= $980

Now, the unitary variable cost per composite unit:

Variable cost per composite unit= 780*0.6 + 280*0.4

Variable cost per composite unit= $580

To calculate the break-even point in units, we need to use the following formula:

Break-even point in units= fixed costs/ contribution margin per composite unit

Break-even point in units= 150,000 / (980 - 580)

Break-even point in units= 375

Finally, the number of units per product:

Desks= 375*0.6= 225

Chairs= 375*0.4= 150

4 0

2 years ago

Tile Depot, specializing in retail of construction materials, carries a popular flooring tile. The annual demand is estimated to

natta225 [31]

Answer: D. 500

Explanation:

The Economic Order Quantity (EOQ) refers to an efficient number of units that a company should order to minimize the total costs of inventory such as holding costs, order costs, and shortage costs.

It is calculated by the formula below,

EOQ = √ (2 * Annual demand * Ordering Cost / Holding Cost)

EOQ = √ (2 * 5,000 * 250 /10)

EOQ = 500 units.

The economic ordering quantity (EOQ) for this item is 500 units.

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2 years ago

The complement of 35% is:

Lena [83]

100%-35%=65%

the compliment of 35% is 65%

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3 years ago

On October 1, 2017, Vaughn, Inc., leased a machine from Fell Leasing Company for five years. The lease requires five annual paym

Alisiya [41]

Answer:

Explanation:

1.Amount to be paid Annually to fell leasing Company = $10,000.

Incremental rate of borrowing = 11%

Lease Period = 5 yrs.

2. Value of lease equipment as on 1st October 2017 i.e., date of lease.

= 10,000 * (PVOA) = (11* for 5 years)

=10,000 * 3.6959 (using -PVAF table)

= $ 36,959

Factors are used according to the table of PVAF

3.Lease liability as on 31-12-2017

= 10,000 * PVAD (11 * 4 years) [since 4 years in these)

= 10,000 * 3.44371

= $ 34,437.10

Lease liability as on 31st Dec 2018

= 10,000 * PVAD (11% 3 years) (still 3 yrs left as on 31-12 -2018)

= 10,000 * 2.71252 = $ 27,125.20

7 0

3 years ago