13 chocalate bars cost 21 dollars. How many candy bars can you get with 1 dollar?

Ayala Architects incorporated as licensed architects on April 1, 2017. During the first month of the operation of the business,

ArbitrLikvidat [17]

Answer: (1) journal Total Dr $27,282, Cr $27,282 (2) cash Account Dr: Total $21,823, Cr Balance c /d $19,613 Total $21,823, salary payable Total Dr $381, Cr $381,Account receivable Account Dr :Total $1,929 Cr Total $1,929, salary expense Account Dr Total $ 1,524 Cr: $1,524, common stock Total Dr : $18,270 Cr: Total $18,270, Supplies Account Total Dr : $1,320, Cr $1,320, Account Payable Total Dr :$1,320, Cr :Total $1,320, service revenue Total Dr : $4,771, Total Cr : $4,771, unearned revenue Total Dr :$712, Total Cr :$711, (3) Trial Balance Total Dr $24,767, Total Cr : $24,767

Explanation:

(1) The journal entry for the transaction will be

Apr 1 Dr : Cash $18,270, Cr : common stock $18,270

Apr1 Dr: salary payable$381,Cr: cash $381

Apr 2 No entry required

Apr 3 Dr : supplies $1,320, Cr : Account payable $1,320

Apr 10 Dr Account Receivable $1,929, Cr : service revenue $1,929

Apr 11 Dr cash$ 711,Cr: unearned revenue$ 711

Apr 20 Dr: Cash $2,842, Cr : service revenue $2,842

Apr 30 Dr : $ Account Payable $305 Cr : Cash $305

(2) The T Account will be

Cash Account

Dr common stock $18,270, unearned revenue $711, service revenue $2,842

Cr : salary payable $381, salary expense $1,524, Account payable $305,Bal c/d $19,613 Total Dr $21,823, Cr : $21,823

Salary payable Account

Dr : cash $381,Cr: Balance c/d $381 Total Dr $381,Cr :$381

Account Receivable Account

Dr: service revenue $1,929, Cr: Balance c/d $1,929 Total Dr $1,929, Cr $1,929

Salary expense Account

Dr: salary expense $1,524, Cr Balance c/d $1,524, Total Dr $1,524,Cr $1,524

Common Stock

Dr : Balance c /d $18,270, Cr :Cash $18,270 Total Dr $18,270, Cr $18,270

Supplies Account

Dr: Account payable $1,320, Cr Balance c /d $1,320, Total Dr $1,320, Cr $1,320

Account Payable

Dr: Cash $305,Balance c/d $1,015, Cr supplies $1,320, Total Dr $1,320, Cr $1,320

Service Revenue Account

Dr Balance c /d $4,771 Cr : Account Receivable $1,929, cash $2,842, Total Dr $4,771, Cr $4,771

Unearned Revenue Account

Balance c/d $711, Cr cash $711, Total Dr $711,Cr $711

(3) The trial balance as on 30/04/2017

Dr: Cash $19,613, salary payable $381, supplies $1,320, Account Receivable $1,929, salary expense $1,524 Total $24,767

Cr : Common Stock $18,270, Account Payable $1,015, service revenue $4,771, unearned revenue $711 Total $24,767

6 0

3 years ago

Tamarisk Corporation had net sales of $2,422,100 and interest revenue of $40,200 during 2020. Expenses for 2020 were cost of goo

Contact [7]

Answer:

Explanation:

In the income statement, the total revenues and the total expenses are recorded.

If the total revenues are more than the total expenditure then the company earns net income

And, If the total revenues are less than the total expenditure then the company have a net loss

This net income or net loss would reflect in the statement of the retained earning account.

The preparation of the income statement is presented in the spreadsheet. Kindly find the attachment below:

5 0

3 years ago

Phillip Witt, president of Witt Input Devices, wishes to create a portfolio of local suppliers for his new line of keyboards.

kirill115 [55]

Answer:

Based on the EMV value, the best choice is to use Two suppliers

Explanation:

Is necessary to consider different amount of suppliers and evaluate the cost. We will choose the number of suppliers which offers a lower cost.

EMV1 = cost of shutdown*super event risk + cost of shutdown*unique event risk + cost of managing supplier = 480000*.02 + 480000*0.05+16000 = 9600 + 24000 + 16000 = $ 49600

EMV2 = cost of shutdown*super event risk + cost of shutdown*unique event risk of each supplier*unique event risk of each supplier + cost of managing 2 suppliers = 480000*.02 + 480000*0.05*.05+16000*2 = 9600 + 1200 + 16000*2 = $ 42800

EMV3 = cost of shutdown*super event risk + cost of managing 3 suppliers = 480000*.02 + 480000*0.05*.05+16000*2 = 9600 + 16000*3 = $ 57600

Based on the EMV value, the best choice is to use Two suppliers

6 0

3 years ago

Most Company has an opportunity to invest in one of two new projects. Project Y requires a $350,000 investment for new machinery

vekshin1

Answer:

Most Company

Project Y Project Z

1. Annual expected net cash flows $140,500 $151,347

2. Payback period 2.5 years 2.3 years

3. Accounting rate of return 15.3% 9.9%

4. Net present value, using 9% $105,220 $33,059

Explanation:

a) Data and Calculations:

Project Y Project Z

Initial investment costs $350,000 $350,000

Useful life of project 4 years 3 years

Salvage value $0 $0

Annual depreciation $87,500 $116,667

Sales $390,000 $312,000

Expenses

Direct materials 54,600 39,000

Direct labor 78,000 46,800

Overhead including depreciation 140,400 140,400

Selling and administrative expenses 28,000 28,000

Total expenses 301,000 254,200

Pretax income 89,000 57,800

Income taxes (40%) 35,600 23,120

Net income $53,400 $34,680

Accounting rate of return 15.3% 9.9%

= Net income/Initial investment cost * 100

Annual Cash inflows:

Net income $53,400 $34,680

Annual depreciation 87,500 116,667

Annual expected net cash flows $140,500 $151,347

PV annuity factor at 9% for 4 years 3.240 2.531

PV of annual cash inflows $455,220 $383,059

Net Present Value = (Initial investment - PV of annual cash flows)

NPV = $105,220 $33,059

Payback period = Initial investment cost/Annual cash inflow

6 0

3 years ago

Ziegler Corporation reports net income of $380,000 and a weighted-average of 200,000 shares of common stock outstanding for the

IgorLugansk [536]

Answer:

$1.90 per share

Explanation:

The computation of the earning per share is shown below:

Earning per share = (Net income - preference dividend) ÷ (weighted-average of shares of common stock)

= ($380,000 - $0) ÷ (200,000 shares)

= $1.90 per share

By dividing the net income with the weighted average number of shares of common stock we can get the earning per share

8 0

3 years ago