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Lunna [17]
3 years ago
12

The following transactions occurred during January 2021:

Business
1 answer:
Fiesta28 [93]3 years ago
7 0

Answer and Explanation:

According to the scenario, journal entry of the given data are as follow:-

Journal Entry

On Jan 1  

Cash A/c      Dr.   $2,600

   To Sales revenue A/c     $2600

(Being the sales is recorded)

  Cost of goods sold A/c     Dr.   $1,100

   To Merchandise Inventory A/c      $1,100

(Being the cost of goods sold is recorded)

On Jan 2  

Equipment A/c         Dr.  $4,600

   To Accounts payable A/c     $4,600

(Being the purchase of equipment on account is recorded)

On Jan 4

  Advertisement expenses A/c      Dr.   $200

   To Accounts payable A/c     $200

(Being the advertising expense is recorded)

On Jan 8

Accounts receivable A/c     Dr.   $4,800

    To Sales revenue A/c     $4,800

(Being the sales is recorded)

Cost of goods sold A/c      Dr.    $2,600

   To Merchandise  Inventory A/c      $2,600

(Being the cost of goods sold)

On Jan 10

Merchandise  Inventory A/c       Dr.    $9,400

   To Accounts payable A/c    $9,400

(Being the purchase of merchandise on account)

On Jan 13

Equipment A/c         Dr.    $800

     To cash A/c      $800

(Being purchase of equipment is recorded)

On Jan 16

 Accounts payable A/c         Dr.   $4,600

      To Cash A/c      $4,600

(Being the cash paid is recorded)

On Jan 18  

Cash A/c          Dr.   $3,800

       To Accounts receivable A/c    $3,800

(Being the cash received is recorded)

On Jan 20

Rent expense A/c          Dr.   $800

       To cash A/c      $800

(Being the rent expense is recorded)

On Jan 30

Salaries and wages expense A/c    Dr.  $2,800

        To cash A/c      $2,800

(Being the salaries and wages expense is recorded)

On Jan 31

Dividends A/c            Dr.  $1,000  

         To cash A/c      $1,000

(Being the cash dividend is paid)

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There are two machines for sale that you are considering purchasing for your sawmill to produce hardwood flooring. You want to f
vladimir2022 [97]

Answer:

1. The Cpk of machine 1 would be 0.952

2. The Cpk of machine 2 would be 1.111

3.  I would buy machine 2, because the Cpk value is more than 1.

4. The Cpk would be 2.222

Explanation:

1. In order to calculate the Cpk of machine 1 we would have to use to following formula:

Process capability index: Cpk= Min [(mean-L spec)/3sd; (U spec-mean)/3sd]

According to given data:

In machine 1, mean= 48mm

L spec= 46

U spec= 50

Standard deviation sd= 0.7

Therefore, Cpk of machine 1= [0.952;0.952]= 0.952

1. In order to calculate the Cpk of machine 2 we would have to use to following formula:

Process capability index: Cpk= Min [(mean-L spec)/3sd; (U spec-mean)/3sd]

According to given data:

In machine 2, mean= 47

L spec= 46

U spec= 50

Standard deviation sd= 0.3

Therefore, Cpk of machine 2= [1.111;3.333]= 1.111

3. If my goal is to be capable, I would buy machine 2, because the Cpk value is more than 1.

4. If you combine the best of both machines to calculate the cpk we to make the following calculation:

Combination specification, mean= 48 and L spec= 46 and U spec= 50, Standard deviation sd= 0.3

Therefore, Cpk= [2.222;2.222]= 2.222

5 0
3 years ago
Assume that sales are predicted to be $4,000, the expected contribution margin is $1,720, and a net loss of $280 is anticipated.
Alexeev081 [22]

Answer:

e)  $4,651

Explanation:

The break-even point is the level of activity that a company must operate to have its total cost equal to its total revenue. At this level of activity, the business makes a zero profit, as the total contribution is exactly the same as the total fixed cost.

It is important for the business to have an idea of the number of customers or units of product to sell inorder for it to cover its total fixed cost. This is the information the break-point analysis seeks to provide.

Working it out

Break-point in sales = Total General fixed cost/ Contribution margin ratio

Contribution margin ratio (CMR): Contribution is sales less variable costs. And the contribution margin ratio is the proportion of sales that is earned as contribution. The higher the better.

CMR = contribution/sales

Fixed cost = Contribution + net loss

We can now apply all these relationships to the question given:

Fixed cost = 1720 + 280

                 = 4,000

Contribution margin ratio = 1720/400 = 43%

Break-even sales ($) = 4000/0.43

                                        = $4,651

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3 years ago
How much money should Francesca set aside in her monthly budget in
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Answer: C. a reasonable amount that does not affect her quality of life.

Explanation:

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Employees tend to stay with one company for their entire careers
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false,  hope this helps!

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3 years ago
Read 2 more answers
South Sea Baubles has the following (incomplete) balance sheet and income statement. BALANCE SHEET AT END OF YEAR (Figures in $
drek231 [11]

Answer:

South Sea Baubles

1. Shareholders' equity in 2015 and 2016 =   $300  and  $260 respectively.

2. Net working capital in 2015 and 2016 = $25 and $110 respectively.

3. Taxes paid in 2016 = $84.

4. Cash provided by operations during 2016 = $666.

5. South Sea's gross investment in fixed assets = $100 ($105 - $95).

Explanation:

a) Data and Calculations:

BALANCE SHEET AT END OF YEAR (Figures in $ millions)

Assets                                                     2015         2016

Current assets                                       $ 105       $ 215

Net fixed assets                                       950       1,050

Total assets                                         $1,055    $1,265

Current liabilities                                    $ 80       $ 105

Long-term debt                                       675         900

Total liabilities                                       $755     $1,005

Shareholders' equity                           $300        $260

Liabilities and Shareholders' Equity $1,055      $1,265

INCOME STATEMENT, 2016 (Figures in $ millions)

Revenue               $ 2,025

Cost of goods sold   1,105

Gross profit             $ 920

Depreciation              425

EBIT                          $495

Interest expense       255

Profit before taxes  $240

Income taxes (35%)    84

Net Income            $ 156

Cash provided by operations:

Net income =      $156

Depreciation        425

Working capital:

Current assets      110

Current liabilities (25)

Net cash           $666

8 0
3 years ago
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