An economy is created by interactions between which two groups of people

Prepaid Insurance $ 3,600 Supplies 3,500 Equipment 18,750 Accumulated Depreciation—Equipment $ 8,400 Notes Payable 21,000 Unearn

SOVA2 [1]

Answer:

1. Depreciation expense 3600

Accumulated depreciation 3600

2.Unearned rent 330666

Rental income 330666

3. Interest expense 2100

Interest payable 2100

4.Cost of goods manufactured 2640

Supplies 2640

5. Insurance expense 2400

Prepaid insurance 2400

Explanation:

depreciation for the year = 300*12=3600

2. Earned rent was 62000/3*4=330666

3.Interest expense for the year = 525*4=2100

4.opening supplies were 3500 and ending were 860 so (3500-860)=2640 were consumed and 860 will be reported to balance sheet.

5. Opening prepaid insurance was =$3600

Insurance was expense out at the rate of $200 per month = 200*12=$2400

$1200 shall be reported to balance sheet.

8 0

3 years ago

A difference in quantity of materials used on two comparable jobs may be caused by a.employee carelessness b.poor quality materi

Elodia [21]

Answer: d.All of these choices are correct.

Explanation:

All the above can result in different quantities of materials being used for comparable jobs.

Employee Carelessness can cause more material to be used if they fail to adequately measure the Requirements of a job. If they are also careless in the usage of the material, there will be wastage and therefore a larger use of materials.

Poor Quality Materials can also result in different quantities being used because for instance, more material could be required to do something that a stronger material could have easily done.

Inadequately trained Employees is a major reason for Material Wastage. If employees are not trained by seasoned people who know how to reduce wastage, that knowledge could take time to come to them. If they were adequately trained however, they can master the tricks on wastage avoidance and limit discrepancies in the amount of materials used per comparable jobs.

7 0

3 years ago

Brody Corp. uses a process costing system. Beginning inventory for January consisted of 1,300 units that were 40% completed. 13,

Aneli [31]

Answer:

completed units = 13,650

Explanation:

given data

Beginning inventory = 1,300 units

completed = 40 %

started = 13,000 units

inventory consisted = 650 units

completed = 70%

solution

we get here completed units that is express as

completed units = Beginning inventory + started unit - ending inventory ..............................1

put here value and we get

completed units = 1,300 + 13,000 - 650

completed units = 13,650

6 0

4 years ago

Assume that scientific studies provide you with the following information concerning the benefits and costs of sulfur dioxide em

valkas [14]

Answer:

Efficient Abatement Level = 12 million tons

Efficient Marginal Benefit & Marginal Cost = 250

Abatement > Efficient Level : Net social benefit fall ; Abatement < Efficient Level : Net Social Benefit Rise

Socially Efficient setting MB = MC rather than TB = TC , as Net Benefit [ TB - TC] is maximised when MB = MC

Explanation:

a. Socially Efficient level of output is when : Marginal Cost of Abatement = Marginal Benefit of Abatement .

MB = MC

500 - 20A = 200 + 5A

500 - 200 = 5A + 20A → 300 = 25A

300 = 25A → A = 300 / 25

A [Efficient Level of Abatement] = 12

b. Putting value of efficient A in MB & MC, we get :

MB = 500 - 20 (12) = 500 - 240 = 260

MC = 200 + 5 (12) = 200 + 60 = 260

c. If one million more abatement than efficient level is done, MC > MB & net social benefit will decrease. If one million less abatement than efficient level is done, MC < MB & net social benefit will increase.

d. Total Benefit & Total Cost are total gain & cost due to all the units of abatement. Marginal Benefit & Marginal Cost are addition to total benefit & total cost by an additional unit of abatement. Net Social Benefit is maximum when difference between TB & TC is maximum, which is so when they are parallel & their slopes MB & MC are equal.

8 0

3 years ago

Consider a mutual fund with $300 million in assets at the start of the year and 12 million shares outstanding. If the gross retu

Vikentia [17]

Answer:

A 15.64%

Explanation:

300*1.18 = 354

354*0.02 = 7.08

354 - 7.08 = 346.92

rate of return = 346.92/300

= 15.64%

Therefore, The rate of return on the fund is 15.64%

3 0

3 years ago