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vitfil [10]
3 years ago
7

Brief Exercise 163 Southern Skiles Co. had beginning capital balances on January 1, 2020, as follows: Patty Sharp $30,000 and Ji

m O'Connor $25,000. During the year, drawings were Sharp $15,000 and O'Connor $8,000. Net income was $40,000, and the partners share income equally Prepare the partners' capital statement for the year.
Business
1 answer:
JulijaS [17]3 years ago
4 0

Answer:

The partners' capital statement is hereby attached.

Explanation:

I started with opening capital balance ,then added each partner's share of profit for the year and finally  I deducted the drawings by partners in the year to arrive at closing capital account balance.

Download xlsx
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The accounts of Melissa Manufacturing showed the following balances at the beginning of December: Account Debit Raw Materials In
maw [93]

Answer:

$120,000

Explanation:

Calculation to determine What should be the balance in the Work-in-Process Inventory following these transactions

Beginning balance in WIP $75,000

Add: Direct materials transferred $39,000

Direct factory labor cost $6,000

Ending balance $120,000

($75,000+$39,000+$6,000)

Therefore What should be the balance in the Work-in-Process Inventory following these transactions is $120,000

5 0
3 years ago
Kent Manufacturing produces a product that sells for $50.00 and has variable costs of $24.00 per unit. Fixed costs are $260,000.
Verdich [7]

Answer:

d. 9,200 units.

Explanation:

The computation is shown below for break-even points in units:

= (Fixed expenses ) ÷ (Contribution margin per unit)  

where,  

Fixed costs = $260,000 + $11,400 = $271,400

Contribution margin per unit = Selling price per unit - variable cost per unit

= $50 - $20.5

= $29.5

Now put these values to the above formula  

So, the units would equal to

= $271,400 ÷ $29.5

= 9,200 units

7 0
3 years ago
Jamal is creating a four-fold brochure about the parts of a business including production, finance, marketing, and customer serv
Juliette [100K]

If Jamal is creating a four-fold brochure about the parts of a business including production, finance, marketing, and customer service If he only wants to highlight the key aspects of each part with several bullet points, the information  he should  include will be:

Jamal should carry out adequate and accurate research concerning the vital information that should be included  in the brochure.

The information that he should include in his brochure should be:

  • He should include relevant information that the customers need in the brochure.

  • He should show professionalism or he should show how professional he his when it has to to with his business.

  • He should highlight the most important aspect of the business such as the company products and services.

  • He shown reveal the purpose and objective of the business including what the business stand for.

The reason why i feel this is the most important information about each part of a business is because it will enables people to know that he is good at what he does  which will in turn help to promote the business.

Learn more here:

brainly.com/question/1921269

5 0
2 years ago
A store manager needs to run a report of last month’s sales. The manager would like the report to highlight products that sold o
Marina CMI [18]

I think is A: inserting an image

6 0
4 years ago
Which of the following best describes why the aggregate demand curve is downward sloping?
BlackZzzverrR [31]

Answer: c. An increase in the aggregate price level causes consumer and investment spending to fall because consumer purchasing power decreases and money demand increases.

Explanation:

The Aggregate Demand (AD) curve is used to measure the impact that price level has on the expenditure in the economy.

The AD comprises of Investment, Consumption Spending, Government spending and Net Income.

When prices are high, households will spend less as they cannot afford to spend a lot which will reduce consumption spending.

Another result of a high price level is that people will have less money to save and so there will be a lower supply of loanable funds.

Both of these components of the AD reduce when prices increase and vice versa. This is why the AD is downward slopping.

3 0
3 years ago
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