Answer:
Since the money was in a checking account and no interest was accumulated on the 100,000 amount. So-hyun does not owe any tax to the government and will collect the whole $100,000 upon the death of her grand-mother.
Answer:
$13,000
Explanation:
Calculation for what The ending balance of the Work in Process Inventory account for the Fabricating Department is:
Beginning Balance 10,000
Add Direct Materials 76,000
Add Direct Labor 24,000
Add Factory Overheads 12,000
(50% *24,000)
Less Work Transferred (109,000)
Ending Balance $13,000
Therefore The ending balance of the Work in Process Inventory account for the Fabricating Department is:$13,000
Answer:
US
Explanation:
Particulars Number Output Labor cost Total Labor productivity
of labor per day per day labor cost (d ÷ c)
(a) (d) (b) c = (a × b)
China 6 40 $40 $240 0.1667
Mexico 10 70 $20 $200 0.3500
US 2 150 $200 $400 0.3750
As we can see that the labor productivity is more in the US so the same is to be considered as an appropriate location
Answer:
May 20
No Entry
June 14
Dr. Dividends $255,000
Cr. Dividend Payable $255,000
July 14
Dr. Dividend Payable $255,000
Cr. Cash $255,000
July 31
Dr. Retained Earnings $255,000
Cr. Dividend $255,000
Explanation:
Dividend = $0.5 x 510,000 = $255,000
May 20
Dividend is declared, No entry is required
June 14
Dividend to be recorded on this date. As dividend is not paid yet so it will be recorded as payable and on the other hand dividend account is debited to make a contra capital account of dividend.
July 14
Dividend is paid as cash is paid so, it will be credited and the liability is reduced so, it will be debited.
July 31
At the end of the period we have to adjust the Dividend Contra capital account in retained earning to make the dividend account zero.
Answer:
D. quantity demanded will fallfall as price risesrises, other things being equal.
Explanation:
The law of demand states that there is an inverse relationship between price and quantity demanded. That is, when price increases, quantity demanded for a good decreases (other things being equal) and vice versa.