Answer: Option A
Explanation: In wimples words, a summary report refers to the statement that is prepared by the organisation with the sole objective of helping the executive level managers in their decision making.
Such reports go through various phases and is converted from a detailed explanation to the points that are most relevant to the organisation. It provides a short form detail of the factors that needs most attention of top managers.
As the top managers have to attend a number of sues they will be unable to make any step from detailed information as that will be time consuming for them.
Answer:
(a)
Mathematical Equation for break-even
F = QP - QV
Where
F = fixed cost
Q = Break-even quantity
P = Selling price
V = Variable cost
F = Q ( P - V )
Q = F / ( P - V )
Q = $327,030 / ( $630 - $300 )
Q = $327,030 / $330
Q = 991 units
(b)
Contribution Margin = Price per unit - Variable cost per unit
Contribution Margin = $630 - $300 = $330
Break-even Point in Units = Fixed Cost / Contribution margin per unit
Break-even Point in Units = $327,030 / $330 = 991 units
Explanation:
Mathematical equation use the the break-even equation which represent the behavior of each element towards the break-even point.
Contribution per unit method use the contribution of each unit to calculate the break-even point.
Answer:
Controlling her surroundings.
Explanation:
There are various techniques that can help an individual improve listening. One of such techniques involves controlling your surroundings.
To do this, you have to first <u>identify sources of potential distractions to you, in your immediate surroundings and remove them</u>. This improves the ability to listen actively.
Answer:
A. Current liability
1. 60-day promissory note.
2. Salaries payable.
3. FICA taxes payable.
4. Income taxes payable.
5. Accounts payable.
B. Long-term liability
1. Note payable due in full in two years.
C. Not a liability
1. Payment of a 4-year term loan due this year.
2. Payment of a 30-year term loan due this year.
Explanation:
Current liability refers to a short-term liability that is that is due for a payment within a year.
Long-term liability refers to a liability that is that is due for a payment more than one year in the future.
Not a liability - This implies that a liability is no longer a liability the moment a payment is made for it or the moment it is paid.
Based on the above, we therefore have:
A. Current liability
1. 60-day promissory note.
2. Salaries payable.
3. FICA taxes payable.
4. Income taxes payable.
5. Accounts payable.
B. Long-term liability
1. Note payable due in full in two years.
C. Not a liability
1. Payment of a 4-year term loan due this year.
2. Payment of a 30-year term loan due this year.
Answer:
The correct option is debit of $2040 to Loss on Bond Redemption
Explanation:
The unamortized premium on the bonds at redemption date=carrying value-face value
carrying value is $829,960
face value is $800,000
unamortized premium=$829,960-$800,000=$29,960
cash paid on redemption=$800,000*104%=$832,000.00
The appropriate entries would a credit to cash of $ 832,000 while face value is debit to bonds payable and also the unamortized premium is debited to premium on bonds payable
loss on retirement=$832,000-$829,960=$2040
The loss is debited to loss on bond redemption
