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Nesterboy [21]
3 years ago
11

Brandon Consulting Company is headquartered in Atlanta and has branch offices in Nashville and Birmingham. Brandon uses an activ

ity-based costing system. The Atlanta office has its costs for Administration and Legal allocated to the two branch offices. Brandon has provided the following information: Activity Cost Pool Cost Driver Costs Administration % of time devoted to branch $700,000 Legal Hours spent on legal research $138,000 % of time devoted to branch Hours spend on legal research Nashville 80% 18,000 Birmingham 20% 6,000 How much of Atlanta’s cost will be allocated to Nashville? $628,500 $663,500 $670,400 None of these answer choices are correct
Business
1 answer:
Citrus2011 [14]3 years ago
3 0

Answer:

The Atlanta's cost allocated to Nashville will be $663,500.

Explanation:

Administration: $700,000 x 80% = $560,000

Legal: $138,000 x [18,000 ÷ (18,000 + 6,000)] = $103,500

Solution: $560,000 + $103,500 = $663,500.

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Failure to record the adjusting entry for deferred revenue now earned causes liabilities on the balance sheet to be what
zlopas [31]

Answer:

overstated

Explanation:

Adjusting entry is a term used in the accounting process, which describes journal entries usually carried out at the end of an accounting period to assign income and expenditure to the period in which they actually happened.

However, the journal entry to identify a deferred revenue is to debit or increase cash and credit or increase a deposit or another liability account.

Hence, Failure to record the adjusting entry for deferred revenue now earned causes liabilities on the balance sheet to be what OVERSTATED

8 0
3 years ago
July 15 Declared a cash dividend payable to common stockholders of $169,000. Aug. 15 Date of record is August 15 for the cash di
Brilliant_brown [7]

Answer:

Explanation:

The journal entries are shown below:  

On July 15:

Retained earning A/c Dr  $169,000

    To Dividend payable    $169,000

(Being cash dividend declared is recorded)

On Aug 15:

No journal entry is required on the date of declared

On Aug 31:

Dividend payable A/c    $169,000

      To Cash A/c $169,000

(Being dividend is paid is recorded)

3 0
3 years ago
Consider the circular flow model to answer the questions that follow.
Zarrin [17]

Answer:

The answer is :

A. Resource market - income

B. Expenditure - product market.

Explanation:

A. Resource market - income

B. Expenditure - product market

The circular flow model shows how money moves through the economy in exchange for goods, services, and resources.

A.

In circular flow of income, households provide inputs to firms through the resource market(matket where households supply land, labor, capital, and entrepreneurship) in exchange for money(income or wages).

B.

Also in circular flow of income, firms receives expenditure from household and this type of market is called product market(which refers to a place where goods and services are bought and sold)

6 0
3 years ago
7. Another example of opportunity cost is a company's cost of capital. Suppose a manufacturer wants to add
vredina [299]

Answer:

You should invest in US bonds because you will be able to earn a higher return than if you build and sell microwaves.

Explanation:

alternative 1, build and sell microwave ovens:

initial outlay = $500,000

net cash flow per year = $225,000 - $200,000 = $25,000

alternative 2, invest in US securities:

investment = $500,000

net cash flow per year = $500,000 x 10% = $50,000

Opportunity costs are the benefits lost or extra costs resulting from choosing one activity or investment over another.

If you choose to build and sell microwaves, you will not be able to invest in bonds, and therefore, your net income will decrease by $25,000 - $50,000 = -$25,000.

Instead, if you invest in bonds and not microwaves, your net income will increase by $50,000 - $25,000 = $25,000.

6 0
3 years ago
Evan has received permission from his state to form a corporation for his startup, expecting his liability would be limited to t
vekshin1

Answer:

Evan's business has no credit history.

Explanation:

As Evan has just created the company, it has no record about its ability to pay debt which is important for a bank to give a loan and it will not be willing to approve it if the company has no credit history that shows that it can make the payments. Because of that, it will require Evan to assume personal liability in order to have a guarantee that the loan would be paid back.

7 0
3 years ago
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