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Darina [25.2K]
3 years ago
7

MC Qu. 160 Webster Corporations monthly...Webster Corporation's monthly projected general and administrative expenses include $5

,000 administrative salaries, $2,400 of other cash administrative expenses, $1,350 of depreciation expense on the administrative equipment, and 0.5% monthly interest on an outstanding bank loan of $10,000. Compute the total general and administrative expenses to be reported on the general and administrative expense budget per month.
Business
1 answer:
podryga [215]3 years ago
8 0

Answer:

The total general and administrative expenses to be reported on the general and administrative expense budget per month is $8,750

Explanation:

The computation of total general and administration expenses is shown below:

= Administrative salaries + other cash administrative expenses + depreciation expense on the administrative equipment

= $5,000 + $2,400 + $1,350

= $8,750 per month

The monthly interest is ignored because it is not a part general and administrative expenses. That's why it is not considered in the computation part.

Hence, the total general and administrative expenses to be reported on the general and administrative expense budget per month is $8,750

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2 years ago
Concord Corporation uses the percentage-of-receivables basis to record bad debt expense and concludes that 4% of accounts receiv
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Explanation:

The journal entries are shown below:

a. Bad debt expense A/c Dr  $13,931

                To Allowance for doubtful debts $13,931

(Being bad debt expense is recorded)

It is computed below:

= $421,300 × 4% - $2,921

= $13,931

b. a. Bad debt expense A/c Dr  $17,722

                To Allowance for doubtful debts $17,722

(Being bad debt expense is recorded)

It is computed below:

= $421,300 × 4% + $870

= $17,722

5 0
3 years ago
During a company's first year, the asset account, Office Supplies, was debited for $3,900 for the purchases of supplies. At year
fiasKO [112]

Answer:

The adjusting entry will be shown below:

Explanation:

The adjusting journal which is to be recorded in the following case will be:

Office Supplies expense A/c..............................Dr  $2,275

          Office Supplies A/c.........................................Cr   $2,275

As the amount $3,900 is already debited and at the year end, the remaining amount of office will be posted to the account of the office supplies expense against the office supplies account.

Working Note:

Amount = Debited amount of office supplies - Offices supplies on hand

= $3,900 - $1,625

= $2,275

5 0
2 years ago
The one-year interest rate over the next 10 years will be 3%, 4.5%, 6%, 7.5%, 9%, 10.5%, 13%, 14.5%, 16%, and 17.5%. Using the e
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Answer:

Explanation:

interest rates on a three-year bond =(int in year1+int in year2+int in year3)/n =  (3+4.5+6)/3 =4.8%

interest rates on a six-year bond = (3%+4.5%+6% +7.5%+ 9%+ 10.5%)/6 = 7.35%

interest rates on a nine-year bond = (3%+4.5%+ 6%+ 7.5%+ 9%+ 10.5%+ 13%+ 14.5%+16%)/9 =10.23%

So, int rate on a 3 year bond is 4.8%; on a 6 year bond is 7.35%; on a 9 year bond 10.23%

5 0
3 years ago
The Procter & Gamble Company is a major producer of bar soaps. In fact, Procter & Gamble produces Ivory,Camay, Lava, Saf
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Answer: (D) Product line

Explanation:

 The product line is basically refers to the group of the product in which the similar company or organization selling their products and brands.

In the product line concept, the companies are basically expanding their business by selling their existing products according to the customer requirement and the usability. It is also known as marketing and the product strategy for increase their productivity.

Therefore, Option (D) is correct.    

5 0
3 years ago
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