Answer:
OPERATING ACTIVITIES
SOURCES: INTEREST RECEIVED IN CASH $18,000, the company receives money
(USES:) PAYMENT OF WAGES TO EMPLOYEES $35,000, the company pays wages
INVESTING ACTIVITIES
SOURCES: NONE
(USES:) PURCHASE OF A PIECE OF EQUIPMENT FOR CASH $120,000 , the company pays for the equipment
FINANCING ACTIVITIES
SOURCES: NONE
(USES:) DISTRIBUTION OF CASH DIVIDEND DECLARED LAST YEAR $25,000, the company pays dividends
Answer and Explanation:
The preparation of the retained earnings statement is presented below:
Opening retained earning balance $721,100
Add: prior period adjustment $86,370
Add: net income $1,562,700
Less: dividend paid $79,000
Ending retained earnings $2,291,170
The above items would be added and deducted that increase and decrease the retained earnings balance
Answer:
No, because they weren’t willing to risk their life to complete a task at the appliance plant. By law this is not safe working conditions and the people forcing employees to do this could be sued.
Explanation:
Answer:
$27,000
Explanation:
The following costs were incurred by Smith's company during the month of March
Direct labor $53,000
Indirect labor 18,000
Salary of corporate vice president for advertising 25,000
Direct materials 48,000
Indirect materials 4,000
Interest expense 7,500
Salary of factory supervisor 3,000 Insurance on manufacturing equipment 2,000
Therefore the actual manufacturing overhead for March can be calculated as follows
= Indirect labour + indirect materials + salary of factory supervisor + insurance on manufacturing equipments
= $18,000 + $4,000 + $3,000 + $2,000
= $27,000
Hence the actual manufacturing overhead for March is $27,000
