Price = $20
Variable cost = $12
Therefore the
contribution margin = price - variable cost = 20 - 12 = $8.
The contribution margin is used to pay the total fixed costs. Since these costs equal $6000, the factory needs to sell the following amount of products:
Therefore, the
total break-even revenue = price * break-even amount = 20 * 750 = $15,000
Hence, the correct answer is
D. $15,000
Answer:
1-Dec
Cash $10500 (debit)
Common Stock $10500 (credit)
1-Dec
Rent Expense $950 (debit)
Cash $950 (credit)
1-Dec
Prepaid Insurance $600 (debit)
Cash $600 (credit)
1-Dec
Equipment $3600 (debit)
Cash $3600 (credit)
5-Dec
Supplies Expense $300 (debit)
Accounts Payable $300 (credit)
15-Dec
Cash $7200 (debit)
Service Revenue $7200 (credit)
16-Dec
Accounts Receivable $5200 (debit)
Service Revenue $5200 (credit)
21-Dec
Cash $2400 (debit)
Accounts Receivable $2400 (credit)
23-Dec
Accounts Payable $170 (debit)
Cash $170 (credit)
28-Dec
Wages Expense $4480 (debit)
Cash $4480 (credit)
30-Dec
Dividends $200 (debit)
Cash $200 (credit)
Explanation:
It is important to remember that <em>Insurance paid in advance</em> is an Asset hence, premium on a one-year insurance policy was recorded in Prepaid Insurance.
Answer:
A Journal was prepared for Shamrock for December 31 2020 data entries.
It shown below in the explanation section
Explanation:
Solution
Shamrock 's December 31, 2020, Journal entries:
Date Account Titles & Explanation Debit Credit
Dec 31, 20 Lease liability 18594
Interest expense
(187600-36702)*12% 18108
Cash 36702
(To record interest expense)
Dec 31,20 Amortization expense (187600/7) 26800
Right of use asset 26800
(To record amortization of the right-of-use asset)
<span>They try to change their behavior through persuasion, intimidation, and imposing costs (financial or otherwise) upon them. This tactic prevents them from being caught off guard and prepares them for any potential hiccup or setback. This change in behavior has the potential to force opponents to submit or rethink their own strategy.</span>
Answer:
Dr. Salaries Payable $2,000
Dr. Salaries Expense $2,250
Cr. Cash $4,250
Explanation:
At the end of fiscal year following entry was paased to record the accrued salary expense and create a payable account.
Dr. Salaries Expense $2,000
Cr. Salaries Payable $2,000
The remaining Expense of $2,250 ($4250-$2000) is related to current fiscal year so, it is recorded with the payament.