Answer:
The sales level in units to achieve the desired profit is 5,200 units.
Explanation:
Fixed cost = $ 3,000
Desired profit = $10,000
Lets the number of units sales is N.
Total variable cost = $2.5*N
Sales revenue = $5*N
Net Profit = Sales revenue – cost of goods sold – operating expenses
$10,000 = ($5*N) – ($2.5*N) - $3,000
($5*N) – ($2.5*N) = $ 10,000 + $ 3,000
$2.5*N = $ 13,000
N = $13,000/$2.5
= 5,200 units
Therefore, The sales level in units to achieve the desired profit is 5,200 units.
Answer:
Explanation:
Preparation of all journal entries made in 2017 related to the bond issue.)
Jan.1
Dr Cash $618,000
Cr Bonds Payable $618,000
Cr Premium on Bonds Payable. $8,000D
c.3 Interest Expense $59,100
Dr Premium on Bonds Payable $900
($18,000 *$20)
Cr Interest Payable $60,000
($600,000 × 10% = $60,000)
Answer:
See below
Explanation:
Given the information above, first we need to compute ending balance of account receivables.
Ending balance of account receivables = Beginning balance + Credit sales - Customer's account collected - Write off amount
= $125,000 + $1,400,000 - $1,350,000 - $0
= $175,000
The year end balance in the allowance for uncollectible account would be
= $175,000 × 10%
= $17,500
Now, the bad debt expense
= Year end balance of allowance for uncollectible account - Beginning balance of allowance for doubtful accounts + Written off
= $17,500 - $15,000 + $0
= $2,500
Answer:
The flexible-budget amount is $120,000
Explanation:
The flexible-budget amount is the same lump sum as the static budget.
Therefore, The flexible-budget amount is $120,000.
Answer:
The correct answer is B.
Explanation:
The FASAB (Federal Accounting Standard Advisory Board) is a commitee that develops accounting standards for U.S government agencies, not for not profit entities, for all governmental entities or non-federal governmental entities.
