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3 years ago

On January 1, 2019, Oriole Company purchased the following two machines for use in its production process.

Business

1 answer:

ivolga24 [154]3 years ago

6 0

Answer and Explanation:

The journal entries are shown below:

1 Equipment $53,420

To Cash $53,420

(Being the equipment is purchased for cash is recorded)

The computation is given below:

= Cash price of machine + sales tax + shipping cost + insurance during shipping + installation and testing cost

= $49,500 + $3,650 + $100 + $60 + $110

= $53,420

2. Depreciation expense $9,614

To Accumulated Depreciation - Equipment $9,614

(Being the depreciation expense is recorded)

The computation is shown below:

= ($53,420 - $5,350) ÷ ( 5 years)

= $9,614

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Read the following passage and choose the appropriate term from the following list: financing, real, bonds, investment, executiv

PolarNik [594]

Answer:1. Executive airplanes

2. Brand names

3. Bonds

4. Investment or capital budgeting

5. Financing

Explanation:

Companies properties consist of assets with physical attributes called tangible such land and those without physical attributes refers to as intangible assets such goodwill, trade marks etc, firms can raise capital by selling bonds which is a debt equity or selling stocks which is a proprietary equity, decision on buying or spending or capital project is called investment or capital budgeting decision and the mode of raising money for expenditures is called financing decisions.

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3 years ago

Surfer sam company produced 4,000 units of product that required 2.5 standard hours per unit. the standard fixed overhead cost p

Svet_ta [14]

The fixed factory overhead volume variance is $400 (unfavorable)

solution

Fixed Overhead Volume Variance = Applied Fixed Overhead – Budgeted Fixed Overhead

Applied Fixed Overhead = 4,000 units ×2.5 hrs per unit×$0.80 = $8000

$Applied Fixed Overhead= 4,000 units ×2.5 hrs per unit×$0.80 = $8000$

and

Budgeted Fixed Overhead =10,500 hrs × $0.80 = $8400

$Budgeted Fixed Overhead =10,500 hrs × $0.80 = $8400$

Fixed Overhead Volume Variance = $8000- $8400 = $400 (unfavorable)

$Fixed Overhead Volume Variance = 8000- 8400 = 400 (unfavorable)$

3 0

3 years ago

What is income elasticity onlyy

Lina20 [59]

Income elasticity of demand measures the receptiveness of the quantity demanded for a good or service to a change in income.

It's calculated as the ratio of the percentage change in quantity demanded to the percentage change in income.

Explanation:

Hope this helps!!

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3 years ago

Your friend Harold is trying to decide whether to buy or lease his next vehicle. He has gathered information about each option b

Hoochie [10]

Answer :

Net present value = -$30,284.90

Net present value = -$15,699.78

Explanation :

As per the data given in the question,

Particulars Amount Factor Purchase

Cost of new vehicle -$33,500 1 -$33,500.00

Annual Maintenance -$1,200 3.605 -$4,326.00

Less : Salvage value $13,300 0.567 $7,541.10

Net Present value -$30,284.90

Particulars Amount Factor Purchase

Cost of new vehicle $0 1 $-

Annual Maintenance -$4,355 3.605 -$15,699.78

Less : Salvage value $0 0.567 $-

Net Present value -$15,699.78

We simply multiplied the amount with the factor so that the purchase amount could come

5 0

3 years ago

Quantum Technology had $652,000 of retained earnings on December 31, 20X2. The company paid common dividends of $33,300 in 20X2

loris [4]

Answer:

(a) $546,300

(b) $12.88

Explanation:

(a) Earnings available to common stockholders:

= Dividend + Retained Earnings

= 33,300 + 513,000

= $546,300

Earnings available to common stockholders means the amount available to distribute as dividend.

But the company need not pay full earnings as dividend. They may left some portion as retained earnings.

(b) Earnings per share:

= Earnings available to common stockholders ÷ no. of shares of common stock

= $546,300 ÷ 42,400

= $12.88

3 0

3 years ago