Answer:
B. a debit to Allen, Capital for $3,000.
Explanation:
Capital after admission: 220,000
Daniel receives a fifth so 20%: 20% of 220,000 = 44,000
Daniel investment 40,000
So there is a 4,000 bonus that will be taken between the old partners at their share ratio:
Allen 4,000 x 3/4 = 3,000
Daniel 4,000 x 1/4 = 1,000
The journal entry wil lbe:
cash 40,000
allen 3,000
daniel 1,000
davin 44,000
I'm not an expert on this kind of stuff, but I believe it is C.
Answer: A. store across town
Explanation:
This is a question about opportunity cost. How much is it really costing Juanita to leave work to buy a dress. Let's calculate.
KEY ASSUMPTIONS
She makes $30 per hour.
She takes 30 minutes to shop.
She takes the same time going to the place as the same time coming.
LOCAL DEPARTMENT STORE.
It will take her 15 minutes to get here and 15 back. She will shop for 30 minutes.
Adding all that will be 15+15+30 = 60 mins or 1 hour so she will lose 1 hour in wages if she buys at the local store meaning the total price is her hourly wages + the cost of the dress.
30 + 114 = $144
ACROSS TOWN
It will take her 30 minutes to get here and 30 back. She will shop for 30 minutes.
Adding all that will be 30+30+30 = 90 mins or 1 hour 30 minutes so she will lose 1 hour and 30 minutes in wages if she buys at the store across town meaning the total price is her hourly wages + the cost of the dress.
If 1 hour is $30 dollars then 30 minutes is half of that being $15.
30 +15 + 86 = $131
NEIGHBORING CITY
It will take her 60 minutes to get here and 60 back. She will shop for 30 minutes.
Adding all that will be 60+60+30 = 150 mins or 2 hours 30 minutes so she will lose 2 hours and 30 minutes in wages if she buys at the store in another city meaning the total price is her hourly wages + the cost of the dress.
If 1 hour is $30 dollars then 30 minutes is half of that being $15.
30 + 30 + 15 + 60 = $135
The STORE ACROSS TOWN will cost her the lowest at $131
Answer:
Sales Price Variance is $ 4,500 Adverse
Sales Volume Variance is $ 12,000 Unfavorable
Explanation:
The difference between the standard and actual selling price, multiplied with actual number of units sold, is known as sale price variance
The difference between the standard and actual number of units sold, multiplied with standard price is Known as Sales volume variance
Budgeted Actual
Units Sale price Total Units Sale price Total
10,000 $12.00 $120,000 9000 11.50 103,500
Sales Price Variance = (Standard price - Actual Price) x Actual Sales
= (12 - 11.5) x 9000
= $ 4,500 Adverse
Sales Volume Variance = ( Standard units - Actual units) x Standard Price
=(10,000 - 9000) x 12
= $ 12,000 Unfavorable