My mom actually has her accountant degree but she quit after a few years and got a different degree. any ways here you go!
An accountant can advise on business structure.
An accountant can issue invoices.
An accountant can record sales.
An accountant can manage and pay invoices from suppliers.
An accountant can manage payroll.
An accountant can keep you up to date with tax laws and changes.
Answer:
Debit cash for $1,180
Credit unearned catering revenue for $1,180
Explanation:
Unearned revenue refers to the amount of money that is received in cash by a company for goods that are yet to be delivered or services that yet to be rendered.
The $1,180 advance payment received by Ted Catering is unearned catering revenue. The eneral journal entry that Ted Catering will make to record the cash receipt wil appear as follows:
<u>Account title Dr ($) Cr ($) </u>
Cash 1,180
Unearned catering revenue 1,180
<em><u>(To record unearned catering revenue.) </u></em>
Answer:
O Debit Retained Earnings $4,000; credit Common Dividends Payable $4,000.
Explanation:
Dividend declared = $0.5 per share
Total Authorized shares = 20,000 shares
Total Issued Shares = 9,000 shares
Total Outstanding shares = 8,000 shares
As outstanding shares are only eligible shares for the dividend payment.
Total Dividend Payment = $0.5 per share x 8000 shares
Total Dividend Payment = $4000
Journal Entry for this event
Dr. Cr.
Retained Earning $4,000
Common Dividend Payable $4,000
Answer:
1. $8.25
2. $313,500
Explanation:
Given that,
Variable overhead cost per direct labor-hour = $2.00
Total fixed overhead cost per year = $250,000
Budgeted standard direct labor-hours (denominator level of activity) = 40,000
Actual direct labor-hours = 39,000
Standard direct labor-hours allowed for the actual output = 38,000
1. Total overhead cost at denominator level of activity:
= Total fixed overhead + Total variable overhead
= $250,000 + (40,000 × $2.00
)
= $250,000 + $80,000
= $330,000
Predetermined overhead rate:
= Total overhead cost at denominator level of activity ÷ Budgeted standard direct labor-hours
= $330,000 ÷ 40,000
= $8.25
2. Overhead applied:
= Standard direct labor-hours allowed for the actual output × Predetermined overhead rate
= 38,000 × $8.25
= $313,500
Answer:
B. each customer's reservation price.
Explanation:
Reservation price is the highest amount a buyer would be willing to pay for a good or service.
I hope my answer helps you
