Answer:
Profit= $1600
The profit which firm is generating is $1600.
Explanation:
Formula:
Profit= Total Selling Cost- Total Actual Cost
Profit= (Price at which unit is sold*Number of units) - (Average cost*Number of units)
In our case:
Number of units=800 units
Price= $6
Average cost= $4
Profit= ($6*800) - ($4*800)
Profit= ($4800) - ($3200)
Profit= $1600
The profit which firm is generating is $1600.
Answer:
$383,900
Explanation:
Calculation for the total Paid-in capital at the end of 2018
Total Paid-in capital=(39,000 shares of common stock *$5.80per share)+(19,000 shares of common stock * $8.30 per share)
Total Paid-in capital=$226,200+$157,700
Total Paid-in capital=$383,900
Therefore the total Paid-in capital at the end of 2018 is $383,900
Answer:
A) A credit to accumulated depreciation of $14.4 Million
Explanation:
The complete journal entry should be:
- Dr Asset XXX account 24,000,000
- Cr Accumulated Depreciation account 14,400,000
- Cr Retained Earnings account 9,600,000
First of all the asset must be recorded at full value.
Accumulated depreciation would be credited for 3 years = ($24 / 5) x 3 = $4.8 x = $14.4
Since the depreciation expense lowered the net profits during 2018, the retained earnings must be adjusted for the remaining value = $24 - $14.4 = $9.8
True. Zero-based budgeting assumes that all funding allocations must be justified from zero each year. The goal in a zero-based budget is to have the income minus the expenses of the business equal zero.
Answer:
4%
Explanation:
Simple interest is calculated using the formula
I = p x r x t
in this case, the interest I is the total amount-principal amount
I = $50,000- $46,875
=$3,125
$3,125 = 46,875 x r x 1 year 8 months
$3,125 =46,875 x r/100 x 1.67
3125=78,281.25 x r/100
$3125 x 100 = 78,281.25 x r
$312500= 78,281.25
r=312500/78,281.25
r=3.992
r=4%
