Answer:
$208,000
Explanation:
Calculation for Dartford Company residual income
Using this formula
Residual income=Investment center income -(Target income percentage of average invested assets ×Average investment center total assets)
Let plug in the formula
Residual income =$700,000-(12%×$4,100,000)
Residual income =$700,000 - $492,000
Residual income =$208,000
Therefore The residual income for the division is: $208,000
Answer:
Contribution margin income statement for the year ended December 31, 2019
Sales (10,000×$175) 1,750,000
Less Variable Costs (10,000×$116) (1,160,000)
Contribution 590,000
Less Fixed Costs (354,000)
Net Income/(loss) 236,000
Explanation:
Variable Costing Income = Contribution - Fixed Costs
It is by interest. You can reduce the amount you pay, by paying more. You can either go ahead and pay it all off, or pay extra when it is time to make a payment.
Answer:
The journal entries are as follows:
(i) On January 1, 2018
Equipment A/c Dr. $10,000
To cash A/c $10,000
(To record the purchase of equipment)
(ii) On December 31st,
Depreciation expense A/c Dr. $1,800
To Accumulated depreciation - equipment $1,800
(To record the accumulated depreciation on equipment for the year 2018 under the straight line method)
Workings:
Depreciation:
= (Cost of the equipment - Salvage value) ÷ Useful life
= ($10,000 - $1,000) ÷ 5
= $9,000 ÷ 5
= $1,800
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