Answer:
Fink's revenue from insurance premiums for the current year is: $13,500,000
Explanation:
Insurance premiums recognised for the current year -
Insurance collected + Beginning Deferred premiums account - Ending Deferred premiums account
= $ 17,900,000 + 4,000,000 - 8,400,000 = $13,500,000
Answer: Option (c) is correct.
Explanation:
Given that,
A corporation purchases = 15,000 shares of its own $20 par
Common stock = $35 per share
Effect on total stockholders' equity:
As purchase of own stock will reduce total stockholders equity by
= Shares purchased × Per share price
= 15,000 × $35
= $525,000
Therefore, total stockholders' equity decreases by $525,000.
Answer:
Month incurred Amount October November December
$ $ $ $
October 240,000 144,000 96,000
November 256,000 153,600 102,400
December 228,000 136,800
144,000 249,600 239,200
The budgeted balance for accounts payable at October 31 is $96,000, which is the 40% of purchases not realized in October.
Explanation:
Purchases for each month are settled 60% in the month of purchases and 40% in the month following purchases. 60% of October purchases are settled in October while 40% are settled in November.
Answer:
variable per unit $ 89.72
fixed cost per unit $ 26.5
total unit cost $ 116.22
Explanation:
Variable cost per machine-hour
825,420 / 9,200 = 89.72
This will keep constant at unit level thus, at 9,400 the variable cost will still be 89.72
Now fixed cost: 249,100 / 9,400 output = 26.5
This is the fixed cost per unit considering a 9,400 untis output
Now, we add them to get the total unit cost:
89.72 + 26.5 = 116.22