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statuscvo [17]
3 years ago
13

To fund operations so far bill has taken out a second mortgage on his personal residence for $70,000 and deposited the full amou

nt into the company's bank account. kerry has not contributed any money to the company, but has offered to work on the company's accounting books for 'free' until a point in time when the company has enough money to pay her.
Business
1 answer:
Thepotemich [5.8K]3 years ago
6 0
What is the question for this question!???
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MC 1
STatiana [176]
Ensure reliable accounting. It’s kinda obvious because it’s DUMB!
6 0
3 years ago
During its first year of operations, the McCormick Company incurred the following manufacturing costs:_______. Direct materials,
notka56 [123]

Answer:

Net income= $432,000

Explanation:

Giving the following information:

Fixed overhead, $224,000.

The company produced 28,000 units, and sold 19,000 units, leaving 9,000 units in inventory at year-end.

Income calculated under variable costing is determined to be $360,000.

The difference between absorption costing and variable costing method is that the first one includes the fixed manufacturing cost in the unitary production cost. <u>Some of the fixed overhead is allocated into ending inventory increasing the net income for the period.</u>

Unitary fixed overhead= 224,000/28,000= $8

Fixed overhead in ending inventory= 8*9,000= $72,000

Net income= 360,000 + 72,000= $432,000

6 0
3 years ago
The production possibilities frontier will shift outward
Ber [7]

Answer:

E. if technological advances occur is the correct answer.

Explanation:

6 0
3 years ago
The North Division of XYZ Corporation had average operating assets of $1,000,000 and net operating income of $185,200 in January
azamat

Answer

The answer and procedures of the exercise are attached in the following image.

Explanation  

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.  

5 0
3 years ago
The Smiths are saving money for a down payment on a house. The Smiths have $25,000 in cash, and they estimate that in 5 years th
s2008m [1.1K]

Options :

A)net present value of the $25,000.

B)future value of the $25,000.

C)internal rate of the return on the $25,000.

D)present value of $25,000.

Answer: B)future value of the $25,000.

Explanation: The Smith's calculation and subsequent result which yielded $31,000 refers to the future value of $25,000. The initial $25000 is the present value of the amount held. If the initial amount is saved or deposited over a certain number of years in an account which yields a certain rate of interest per annum and is compounded either on a monthly, yearly, quarterly or semiannual basis as the case may be, in this scenario above, the interest is called mounded annually. This initial amount will grow and yield an amount which is greater than the present deposit. This is called the future value of the initial deposit.

8 0
3 years ago
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