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anzhelika [568]
4 years ago
9

Northern pacific fixtures corporation sells a single product for $28 per unit. if variable expenses are 65% of sales and fixed e

xpenses total $9,800, the break-even point is:
Business
1 answer:
wel4 years ago
4 0
$15,077.  $18,200.  $9,800.  $28,000. (If variable expenses are 65% of sales, then contribution margin ratio must be 35%. Fixed cost of $9,800 divided by .35 = <span>$28,000</span>
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3 years ago
Sandoval Company operates in a country in which distributed profits are taxed at 25 percent and undistributed profits are taxed
Neko [114]

Answer:

The amounts that Sandoval should recognize as current tax expense in Years 1 and 2 are $29,000 and $34,000, respectively.

Explanation:

year 1:

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3 years ago
On October 25, 2019, the company paid $29,400 rent in advance for the six-month period (November 2019 through April 2020). On De
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Answer:

Rent expense (Dr,)              $9,800

              Prepaid Rent                             $9,800

Explanation:

The accrual concept of accounting requires us to record the expenses in a period in which they are incurred rather than when cash is paid. When the company paid advance rent of six months at the end of October, it will record a current asset (Unexpired resource) on the face of balance sheet. At the end each accounting period, it is required to expense out the resources (benefits) that are expired (utilized). This can be done through straight-line method. So, on December 31, 2019, the rent expense of two months that is of November and December should be charged to profit and loss statement in-order to record the expense of related period.

<u>Workings</u>

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Rent expense (Dr,)              $9,800

            Prepaid Rent                             $9,800

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