Answer:
The equivalent units for conversion costs in the Painting Department for April is b. 70,520
Explanation:
Equivalent Units for Conversion cost means the Total Units in terms of degree of Conversion Costs applied to those units.
To calculate the equivalent units for conversion costs in the Painting Department for April we:
<em>First Determine the Units Completed and Transferred Out of the Painting Department</em>
Hint: Units Inputs must equal Units out puts
<em>Units Completed and Transferred Out = Units of Opening Work In Process + Units Transferred In from Prior Department - Ending Work In Process</em>
<em> </em>= 65,600+6,300-4,600
= 67,300
<em>Second Calculate the total Units of Conversion Costs</em>
Completed and Transferred Out - 100% 67,300
<em>Add</em> Closing Work In Process - 70% 3,220
Total Units for Conversion Costs 70,520
What do you need help with?
Answer
$400
Step by step explanation
Step 1: Total of the three deal = $40,000
Commission = 1% = 1/100 = 0.01
Step 2: Find the commission for $40,000
Commission earned for the month = 0.01 *$40000
= $400
I hope you will understand this.
Thank you.
Answer:
a. The property is sold on credit.
<em>The amount realized is the cash received at the date of sale and the cash that will be received in future when the credit is settled. </em>
b. A mortgage on the property is assumed by the buyer.
<em><u>The amount realized increases</u></em><em> because the seller will see their debt reduced and still receive cash from the buyer for the purchase of the property. </em>
c. A mortgage on the property is assumed by the seller.
<em><u>The amount realized decreases</u></em><em> because the realized amount will have to be net of the mortgage that the seller now has to pay. </em>
d. The buyer acquires the property subject to a mortgage of the seller.
<em><u>Amount realized increases </u></em><em>as the buyer will become the one making mortgage payments instead of the seller which effectively means that the seller gets the realized value net of debt. </em>
e. Stock that has a basis to the purchaser of $6,000 and a fair market value of $10,000 is received by the seller as part of the consideration.
<em><u>Realized value increases to $10,000</u></em><em> because that is the fair value of the stock when exchange for the property. </em>
Answer:
Bricker Enterprises
Depreciation for 2021, using the double-declining-balance method, would be:
= $9,200.
Explanation:
a) Data and Calculations:
September 30, 2021:
Cost of purchased machine = $203,000
Estimated residual value = 19,000
Depreciable amount = $184,000
Estimated service life = 10 years
Depreciation rate using the double-declining-balance method = 20% (100/10 * 2)
Depreciation expense for the first year based on the double-declining-balance method:
= $36,800 ($184,000 * 20%)
Prorated depreciation expense for 2021 = $9,200 (($184,000 * 20%) * 3/12))
