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3 years ago

The Baldwin Company currently has the following balances on their balance sheet:

Business

1 answer:

alekssr [168]3 years ago

8 0

Answer:

Total assets next year = $194,136

so correct option is A. $194,136

Explanation:

given data

Total liabilities = $72,303

Common Stock = $11,775

Retained Earnings = $88,558

net profit = $36,500

dividends = $15,000

to find out

total assets be next year

solution

we get here Assets for current year that is express as

Assets for current year = Total liabilities + Common stock + Retained earnings ......................1

put here value we get

Assets for current year = $72,303 + $11,775 + $88,558

Assets for current year = $172,636

and

now we get Net addition to assets next year that is

Net addition to assets next year = Net Profit – Dividends ...............2

put here value

Net addition to assets = $36,500 - $15,000

Net addition to assets = $21,500

so as that Total assets next year will be

Total assets next year = Opening assets + Net addition ............3

Total assets next year = $172,636 + $21,500

Total assets next year = $194,136

so correct option is A. $194,136

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Answer:

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3 years ago

On January 15, the end of the first pay period of the year, North Company’s employees earned $26,000 of sales salaries. Withhold

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Answer: Please see the explanation column

Explanation:

Journal entry to record North Company’s salaries expense and related liabilities.

Date Particulars Debit Credit

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To FICA Social Security taxes

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To employee medical insurance payable $429

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Working :

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FICA Medicare taxes = 1.45% x 26,000 = $377

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3 years ago

Backflush costing is a costing method that: Charges current production costs directly to finished goods inventory. Charges curre

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Answer:

Charges current production cost directly to work-in-process inventory

Explanation:

The blackflush costing is the costing method in which the present cost of production would be charged to the work in process inventory in a direct way

Therefore as per the given situation the second option is correct

ANd, the rest of the options are wrong as it does not meet the criteria

So the second option would be taken into consideration

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3 years ago

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Answer:

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3 years ago

Bob Clarke Corporation has provided the following data from its activity-based costing system: Activities Estimated Overhead Cos

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Answer:

Total Unit Cost= $ 96.65

Explanation:

Bob Clarke Corporation

Activities Estimated Overhead Cost Expected Activity

Assembly $1,005,040 68,000 machine-hours

Processing orders $102,500 2,000 orders

Inspection $139,840 1,900 inspection-hours

First we find the overhead rates using ABC costing method.

Overhead Rates= Estimated Overhead Cost/ Expected Activity

Assembly Rate= $1,005,040 /68,000 = $ 14.78 per machine-hours

Processing rate= $102,500 / 2,000= $ 51.25 per orders

Inspection Rate= $139,840/ 1,900= $ 73.6 per inspection-hours

Then we find the overhead costs applying the ABC Costing rates

Overhead Costs Of 450 Hockey

Assembly= 710 machine-hours, * $ 14.78= $10493.8

Processing=42 orders, *$ 51.25= $ 2152.5

Inspection= 12 inspection-hours*$ 73.6 = $ 883.2

Total Overhead Costs of 450 Hockey = $ 13529.5

Overhead Cost of One Hockey= 13529.5/450= 30.065= $ 30.07

Then the:

Product Cost

Direct materials cost is $36.42 per hockey stick

Direct labor cost is $30.16 per hockey stick

Overhead Costs is $ 30.07

Total Unit Cost= $ 96.65

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3 years ago