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3 years ago

Use the following information to calculate for the year ended December 31, 2018

Business

1 answer:

Anastasy [175]3 years ago

8 0

Answer:

a. $13,000

b. $17,000

c. $27,000

Explanation:

a= Net income (loss) = Service revenue - Other operating expenses

Net income (loss) = $25,000 - $12,000

Net income (loss) = $13,000

b. Ending retained earnings = Beginning retained earnings + Net income - Dividends

Ending retained earnings = $5,000 + $13,000 - $1,000

Ending retained earnings = $17,000

c. Total assets = Cash + Accounts receivable + Supplies + Equipment

Total assets = $15,000 + $3,000 + $3,000 + $6,000

Total assets = $27,000

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11111nata11111 [884]

Answer: 88.89 or 89

Explanation: Futures contract refers to a legal binding which obligates a buyer and seller to transact about a commodity, good, security or services at a predetermined price but goods are delivered or paid for in the future.

Given the following ;

Portfolio value(p) = $20million

Portfolio Beta (b) = 1.2

Index price (i) = 1080

Multiplier = 250

Future value(A) = index price × multiplier

Future value(A) = 1080 × 250 = 270000

Number of contracts (N) = (portfolio value × portfolio Beta) ÷ future value

N = ($20,000,000×1.2)÷270000

N = 24000000 ÷×270000

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3 years ago

ang Co. manufacturers its products in a continuous process involving two departments, Machining and Assembly. Journalize the ent

Ksenya-84 [330]

Answer:

Raw Materials $180,000 (debit)

Accounts Payable $180,000 (credit)

Work In Process Machining : Direct Materials $73,000 (debit)

Work In Process Machining : Indirect Materials $9,000 (debit)

Work In Process Assembly : Indirect Materials $4,900 (debit)

Raw Materials $86,900 (credit)

Work In Process Machining : Direct Labor $23,000 (debit)

Work In Process Assembly : Direct Labor $47,000 (debit)

Salaries Payable $70,000 (credit)

Work In Process Machining : Depreciation $4,500 (debit)

Work In Process Assembly : Depreciation $7,800 (debit)

Accumulated Depreciation $12,300 (credit)

Work In Process Machining : Overheads $9,700 (debit)

Work In Process Assembly : Overheads $11,300 (debit)

Overheads $21,000 (credit)

Work In Process Assembly Department $14,900 (debit)

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Sales Revenue $100,000 (credit)

Finished Goods Inventory $68,000 (credit)

Explanation:

Manufacturing Costs are accumulated in the Work In Process Account.

Finished Goods are Transferred from Work In Process Account to Finished Goods Inventory by Debiting Finished Goods Inventory Account and Crediting Work In Process Account.

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3 years ago

Regardless of income or wealth, setting aside some portion of current income regularly for future use helps in developing good _

sdas [7]

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2 years ago

During one pay period, your company distributes $130,500 to employees as net pay. the income tax withholdings were $19,000 and t

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Given:
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19,000 income tax withholding
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FICA, Federal Insurance Contributions Act, is composed of
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3 years ago

12-3. (Break-even point and selling price) Simple Metal Works, Inc. will manufacture and sell 300,000 units next year. Fixed cos

aev [14]

Answer:

Selling price= $5.08

Explanation:

Giving the following information:

Number of units= 300,000

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Variable cost rate= 0.65

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Break-even point in units= (fixed costs + desired profit)/ contribution margin per unit

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Selling price= 2 - (-3.08)

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3 years ago