Answer:
4 months.
Explanation:
This is because the months for which interest have been accrued are March, April, May, and June of year 1. These are 4 months in total.
Therefore, Finch's debt service fund should include interest payable on the general obligation bonds for 4 months.
<span>In a
perfectly competitive market, the total revenue for
a firm
is the product of price and quantity. Meanwhile the average revenue is
calculated by dividing total revenue with output quantity. And then the Marginal revenue is
calculated by dividing the change in total revenue by change in quantity.
Profit is maximized when Marginal revenue equals Marginal cost.</span>
Therefore the answer to
this is:
marginal revenue equals
“average revenue, the price, and marginal cost for all levels of output”
Answer:
1. Compute the annual depreciation expense prior to the change in estimates.
annual depreciation = ($396,000 - $36,000) / 50 = $7,200 per year
2. Compute the annual depreciation expense after the change in estimates.
annual depreciation = ($324,000 - $30,000) / 20 = $14,700 per year
3. What will be the net effect of changing estimates on the balance sheet, net income, and cash flows for the year?
Any changes in an asset's useful life are reported prospectively, this means that they do not affect any past records, only future records are affected. In this case, the depreciation expense per year will increase form $7,200 to $14,700, so net income will be negatively affected by it. Cash flows will not be affected, since depreciation expense is a non-cash expense. P,P&E on the balance sheet will be affected because the net value of the building will decrease faster.
Answer:
Cost assigned
$
Transferred out 610,950
Work in Progress 57,792
Explanation:
Cost assigned = cost per equivalent units × Number of equivalent units
Equivalent units = Degree of completion × units
The cost per unit for each expenditure type has been given so we need to determine the equivalent unit
The equivalent units for work in progress and units transferred would be worked out using the table below:
Equivalent units
Material Conversion cost
Transferred out 100%× 40,730= 40,730 100%×40,730= 40,730
Work in Progress 100%× 6020 =6,020 40%× 6020 = 2,408
Cost assigned:
Material Conversion cost Total
Transferred out (40,730 ×$6) + ( 40,730 ×$9)= 610,950
Work in progress (6,020× $6) + (2,408 ×$9) = 57,792
Cost assigned
$
Transferred out 610,950
Work in Progress 57,792
Answer:
285,000 common stock outstanding with a $8 par value
it declares 13% stock dividend
market price at $16
since the stock dividend is considered small (less than 20%), we use the market price to record it
December 1, 202x stock dividends are declared (37,050 stocks)
Dr Retained earnings 592,800
Cr Common stock dividends distributable 296,400
Cr Additional paid in capital 296,400
December 31, 202x, distribution of stock dividends
Dr Common stock dividends distributable 296,400
Cr Common stock 296,400