Answer:
$14,76
Explanation:
Using a single plantwide factory overhead rate based on direct labor hours, the factory overhead rate for the year is $14,76.
Answer:
How will this purchase impact the accounting equation of Perfect Printers at the time of the purchase?
An increase in the assets by $200,000 and a similar increase in liability by $200,000
Explanation:
The accounting equation is the foundation for the double enter system of account balancing. In this system, the amount of debits are entered on one side as the corresponding credit is entered on the other side. Then the total credits are added and compared to the sum of the debit. When the credit equals the debit, the accounts balance. The accounting equation can be expressed as;
A=L+E
where;
A=assets
L=liabilities
E=owner's equity
Lets enter the transaction as shown;
Account type Asset Liability
Printing machine $200,000
Cash $200,000
Total $200,000 $200,000
An increase in the assets by $200,000 and a similar increase in liability by $200,000
Answer:
The correct answer is letter "C": The owners' equity that has accumulated as a result of profitable operations.
Explanation:
Retained Earnings are the part of the company's net profits it does not pay out as dividends to shareholders. The company retains the money and reinvests it in the company, or uses it to pay off a part of its debt. To see how much profits a corporation has kept, look under the Shareholder's equity in the Balance Sheet.
