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Nata [24]
3 years ago
9

Accounts payable has a normal beginning balance of $1,000. During the period, there were debit postings of $600 and credit posti

ngs of $500. What was the ending balance?a. 900 debitb. 1,100 creditc. 900 creditd. 11,100 debit
Business
1 answer:
creativ13 [48]3 years ago
7 0

Answer:

c. 900 credit

Explanation:

Account payable is a liability account and as such, the normal balance is in credit.

Opening balance = $1,000

Debit postings represents settlement of account payable.

Debit posting = $600

Credit postings are additions to the liability

Credit postings = $500

Ending balance = - $1,000 + $600 - $500

                          = -$900

Ending balance is a credit of $900. c. 900 credit

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g The company plans a 4-for-1 stock split. How many shares will you own and what will the share price be after the stock split?
Nata [24]

Answer: 14,400; $17

Explanation:

Stock splits are a strategy by firms to increase the liquidity of their shares especially when they are trading at a high price. The firm divides the stock by a certain number thus increasing the number of shares by the multiple of the number. This action will divide the price of the stock and thus allow for more trade as they are cheaper.

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7 0
3 years ago
Bellue Incorporated manufactures a single product. Variable costing net operating income was $92,400 last year and its inventory
s2008m [1.1K]

Answer:

6,000

Explanation:

Bellue incorporated manufactures a single product

The variable costing net operating income is $92,400

The inventory is 3100 units

The fixed manufacturing overhead cost is $1

Therefore the absorption cost can be calculated as follows

= 9200-1 x3200

= 9200- 3200

= 6000

Hence the absorption cos is $6,000

7 0
3 years ago
A pre-determined overhead rate includes:_____.
KiRa [710]

Answer:

a. estimated total manufacturing overhead cost in the numerator.

Explanation:

The formula to compute the pre-determined overhead rate is shown below;

As we know that

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Here estimated activity level can be estimated direct labor hours, estimated machine hours etc

Therefore the option a is correct

8 0
3 years ago
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