Answer:
Smith will report an investment income of $56,000 in its income statement.
Explanation:
Based on the information given we were told that Smith made a purchased of the amount of $522,000 of Jones shares in which as of December 31, 2021, the Jones shares also had a fair value of the amount of $578,000 this means that Smith will report an investment income of $56,000 ($578,000-$522,000) in its income statement.
Answer:
$56,000 Adverse
Explanation:
direct materials quantity variance = Aq × Sp - Sq ×Sp
= (6,500×$16) - ((1,500×2)×$16)
= $104,000 - $48,000
= $56,000 Adverse
More materials were used during the month than was expected thus adverse.
Answer: 0.51
Explanation:
Nominal rate = 1.85%
Inflation rate = 1.90%
Real rate of return = (1 + nominal rate / 1 +inflation rate) - 1
Real rate of return = ((1 + 0.0185) / (1 + 0.019)) - 1
= (1.0185 / 1.019) - 1
= 0.9995 - 1 = - 0.0005
Therefore, the real dollar return I. $1,020 equals
0.0005 × 1020 = 0.51
The education of its labor force. the effiecientcy of its machinery.
Answer:
The journal entries are shown below
Explanation:
The journal entries are as follows
a. Product warranty expense $13,590 ($151,000 × 9%)
To Product warranty payable $13,590
(Being the warranty estimated expense is recorded)
b. Product warranty payable $207
To Supplies $120
To Wages payable $87
(Being the warranty work is recorded)
Only these two entries are passed
