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Answer:
A net worth statement
Explanation:
A net worth statement is a financial report/ document that shows the assets and liabilities - both short and long-term - of an individual or company. The net worth is the result of deducting liabilities from assets.
The net worth statement paints a picture of a person or an entity's current financial position. Assets represent what a person owns, while liabilities are what they owe.
Answer:
$23.6 per share
Explanation:
Given that,
Total common equity = $5,500,000
Shares outstanding = 250,000
Net income = $525,000
Dividends paid out = $125,000
Total value at the end:
= Total common equity + Net income - Dividends paid out
= $5,500,000 + $525,000 - $125,000
= $5,900,000
Therefore,
Book value per share at 2014 year end:
= Total value at the end ÷ No. of shares outstanding
= $5,900,000 ÷ 250,000
= $23.6 per share
Answer:
The bank reconciliation statement is as shown below:
Amount in $
Balance per bank statement 33,650.00
Deposit in transit 9,150.00
Outstanding check (17,865.00)
Bank charges 80.00
Note collected (6,095.00)
Returned check (540.00)
Check drawn <u> (630.00)
</u>
Book balance <u> 17,750.00</u><u> </u>
Explanation:
Deposit in transit has been recorded in the books, thus the addition to the bank balance. Bank charges have been deducted from the bank balance but not in the cash book hence it is added back. Note collected is yet to be recognized in the books hence the deduction from the bank balance.
Amount recorded from the check returned is more than the actual by $540 hence the deduction. The check drawn has been over charged by the bank to the tune of $630 hence the deduction.
Answer:
$36,500
Explanation:
Calculation for manufacturing overhead
Direct labor = $20,405
The Total manufacturing cost = $73,600
Prime cost = Direct labour cost ÷0.55
Prime cost = $20,405 ÷ 0.55 =
Prime cost = $37,100
Using this formula for Tot Manufacturing cost
Total manufacturing cost = Prime cost + Manufacturing overhead cost
$73,600 = $37,100 + Manufacturing overhead cost
Manufacturing overhead cost = $36,500
Therefore tthe manufacturing overhead was:$36,500