Answer:
D. If Hazel sells the chocolate fountain for $3,300, she will have a $1,500 capital gain.
Explanation:
I´m assuming that Hazel is a person that owns this event planning company.
The current book value of the chocolate fountain = purchase cost - accumulated depreciation = $3,000 - $1,200 = $1,800
If the chocolate fountain (or any asset) is sold at a higher price than book value, then a capital gain must be recognized. If the chocolate fountain is sold at a lower price than book value, then a capital loss should be recognized.
$3,300 (selling price) - $1,800 (book value) = $1,500 capital gain
Answer:
C. A return of $70000
Explanation:
Given that
Beginning plan asset = 325000
End plan asset = 375000
Contributions = 130000
Total avalable assets initially = beginning plan asset + contributions
= 325000 + 130000
= 455,000.
Distributions of pension resulted in less 150000
Thus,
Balance = 455000 - 150000
= 305000.
But recall that the ending balance was
375000
Thus,
The difference between 375000 and 305000 = $70000, represents the return on plan assets.
Hence return on plan assets
= $70,000
NOTE that, the loss of $55,000 from sale of specific investments is included in the net gain of $70,000
Answer:
Explanation:
A timeline list events in a chronological order.
If cash flows do not occur annually, a timeline can still be meaningful. Timelines can represent cash flows that occur daily , monthly, quarterly , yearly , bi - annually etc
In cases where some cash flows occur annually and others occur quarterly, the space on the timeline between cash flows that occur annually and cash flows that occur quarterly woild be different in order to indicate the different lengths of time.
I hope my answer helps you
Answer: The correct answer is "meet the information needs of a company's managers and other users of its financial statements".
Explanation: The chart of accounts is a list that presents the accounts necessary to record the accounting facts. It is a systematic arrangement of all accounts that are part of an accounting system, in short, provides a basic structure for the organization of the accounting system, so it appears as a means to obtain information in a simple way.
<u>The chart of accounts is designed to meet the information needs of a company's managers and other users of its financial statements.</u>
Answer:
Predetermined manufacturing overhead rate= $53,75 per machine hour
Explanation:
Giving the following information:
Order size:
Estimated activity cost= $585,866
Estimated machine hours= 10,900
<u>To calculate the predetermined manufacturing overhead rate we need to use the following formula:</u>
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 585,866/10,900
Predetermined manufacturing overhead rate= $53,75 per machine hour