Answer:
A) $0.075 variable and $450 fixed
Explanation:
to calculate Kendra's fixed and variable components using the high-low method we can use two separate formulas:
variable costs = (highest utility cost - lowest utility cost) / (highest output - lowest output) = ($1,200 - $600) / (10,000 - 2,000) = $600 / 8,000 = $0.075 per unit
fixed costs = highest cost - (highest output x variable cost) = $1,200 - (10,000 x $0.075) = $1,200 - $750 = $450
Answer:
State ownership
Explanation:
State ownership, or government ownership, or public ownership, is a form of ownership were the government owns or partly owns as well has control over a business with the revenue from the business or establishment being added as benefits accruable to the welfare of the public
The characteristics of a state ownership are;
1) State ownership means that the government is the owner, or part owner of the establishment, where part ownership belongs to the public
2) The main purpose of a state owned business is not to make profit, but rather to provide public welfare, that benefits the residents of the country
3) The profits from the business are entered into the treasury of the state and are used to carry out public welfare projects
4) The employees of the government are the managers of the establishment which is subject to bureaucracy, and the business is operated with a state selected board of directors
5) The government determines the manner of stability present in the business, as well as the winding up of state owned businesses that have no function
6) The state owned business is operated by the laws and policy if the business and it is therefore recognized as an autonomous body
Answer:
Deposits in transit
Explanation:
A company's deposit in transit is the currency and customers' checks that have been received and are rightfully reported as cash on the date received, and the amount will not appear on the company's bank statement until a later date. A deposit in transit is also known as an outstanding deposit.
When there is a deposit in transit, the amount should be listed on the company's bank reconciliation as an addition to the balance per bank.
Answer:
$7,000
Explanation:
For the purchase of office supplies, the entries required are
Debit Office supplies account
Credit cash/accounts payable
When supplies are used up, the entries required are
Debit Supplies expense account
Credit Office supplies account
As such where the Office Supplies account has a debit balance of $9,000 on the Unadjusted Trial Balance. In the Adjustments there is a credit of $2,000.
The balance in the office supplies account after adjustments
= $9,000 - $2,000
= $7,000
Option 1 cash payments journal