Answer:
$7.8
Explanation:
Variable costs = $504,000
Fixed costs = $392,000
Number of units produced = 84,000
Shipping charges = $4,500
Therefore, the variable cost per unit is calculated as follows:
= Variable costs ÷ Number of units produced
= $504,000 ÷ 84,000
= $6 per unit
Incremental fixed cost per unit (For 2,500):
= Shipping cost ÷ 2,500
= $4,500 ÷ 2,500
= $1.8 per unit
Therefore, the unit sales price will be the sum total of variable cost per unit and incremental fixed cost per unit for the shipping charges.
BEP (in sales price per unit):
= Variable cost per unit + incremental fixed cost per unit
= $6 + $1.8
= $7.8
Answer:
Debit : Supplies $460
Credit : Accounts Payable $460
Explanation:
The entry to record the purchase of supplies will include a Debit to Asset Account - Supplies and a Credit to Liability Account - Accounts Payable at value of $460.
Answer:
a. Ada defaults on the note.
Explanation:
An agency can be defined as a mutual relationship existing between two parties, wherein a principal authorizes the agent to act as the principal's representative or on his behalf (fiduciary role) in dealing with third parties.
The parties entering into a contractual agreement are obligated to terminate an agency relationship by placing into the agreement a time period specifying the termination. Thus, when that time elapses or expires, the agency between the parties involved ends. Furthermore, the parties involved may specify the particular purpose for which the agency is established. Once that purpose is achieved, the agency is terminated or ends.
This ultimately implies that, the legal entity or secondary liability (trustee or licensee) would be held responsible for the losses, legal claims and damages incurred by its partner in an agency, whether or not the agent's actions were authorized or unauthorized by the principal.
In this scenario, Ada is the maker of a note, on which Bart is secondarily liable. Also, the current holder of the note is Credit Instruments Company.
Since Bart is secondarily liable to Ada, it will be obligated to pay for any of the notes if Ada defaults on the them.
Hence, a trustee is liable for acts or contracts entered into by an agent when he or she gives an agent either actual authority (power of attorney) or apparent authority.
Answer:
-$4.9 per share
Explanation:
Albrecht Corporation.
Net Loss per Share:
= - $1,862,000/ [($373,000*5/12)+($385,000*7/12)]
=-$1,862,000/$155,417+$224,573
=-$1,862,000/$380,000
=-$4.9 per share
Therefore Albrecht net loss per share for the year end december 31 2021 will be -$4.9 per share
Answer:
c. A debit to a prepaid expense for $7,500.
Explanation:
Because the pament for management services are in-advance, is a right for Apricot, as now has the right to receive this management services for two-years
The entry will do the following:
it will recognize the prepaid expense
prepaid management services
and will post the cashoutflow for the amount paid.
prepaid management services 7,500 debit
cash 7,500 credit
From the option we are given:
a.- FALSE there is no expense in the entry
b.- FALSE there is no expense in the entry
d.- FALSE the prepaid expense is debited, not credited
e.- FALSE. cash is credit, not debit.
c.- CORRECT there is a prepaid expense, which is being debited.
