Smith Company’s adjusted trial balance on August 31, 2013, its fiscal year-end, follows.

The best way to focus your attention on your most important daily goals is to use a

Damm [24]

The correct option is B.
A prioritized to do list is a document which list out all the tasks you have to do in a day in the order of their importance. By following the order in the list you will be able to focus your energy on the tasks that are most important to you on a daily basis.

7 0

4 years ago

Bonds that may be exchanged for common stock at the option of the bondholders are called

Sedaia [141]

Answer: CONVERTIBLE BONDS

Explanation: In simple words, convertible bonds refers to those fixed assets securities that could be converted into common stock on the discretion of the bondholders.

Such kind of securities is usually used by companies who are new to the market and wants to attract investors with maximum security of bonds as initial investment and maximum potential benefit as an option of converting bonds into common stock.

These types of bonds offer lower interest rates due to the embedded option of conversion.

4 0

3 years ago

If you were charged $1152 in taxes on a $2560 purchase. What percent tax were you charged

katen-ka-za [31]

Answer:

Percent tax = 45%

Explanation:

Given:

Amount of tax charged = $1,152

Amount of purchase = $2,560

Find:

Percent tax

Computation:

Percent tax = [Amount of tax charged / Amount of purchase]100

Percent tax = [1152 / 2560]100

Percent tax = 45%

6 0

3 years ago

The Cutting Department of Sheridan Company has the following production and cost data for July.

alina1380 [7]

Answer:

1. Materials Conversion Costs

Total equivalent units of production 17,200 15,800

2. Cost per Equivalent Unit $ 4.05 $ 2.6

Explanation:

Cutting Department

Weighted-Average Method

1. Equivalent Units

Particulars Units % of Completion Equivalent Units

Materials Conversion Materials Conversion

Transferred Out 13,700 100 100 13,700 13,700

Ending Inventory 3500 100 60 3500 2100

Total Equivalent Units 17,200 15,800

The Ending Inventory units are 3500 which are not yet complete.

Materials Conversion Costs

Total equivalent units of production 17,200 15,800

2. Cost Per Equivalent Units

Materials Conversion

Cost Added 69,660 18,480 + 22,600

Total Costs 69,660 41,080

Equivalent Units 17,200 15,800

Cost per Equivalent Unit 69,660 / 17,200 41,080/ 15,800

$ 4.05 $ 2.6

Cost of Ending Work In Process $ 19635

Materials = 3500 * $ 4.05= $ 14175

Conversion = 2100 * $ 2.6= $ 5460

We multiply the equivalent number of units with the cost per unit to find the cost.

Cost Of Units Transferred Out = $ 91,105

Materials = 13,700 * $ 4.05= $ 55,485

Conversion = 13,700 * $ 2.6 = $ 35620

B. A Cost Reconciliation Report

Materials Conversion

Ending WIP $ 14175 $ 5460

Transferred Out $ 55,485 $ 35620

Total $ 69660 41080

These calculated costs reconcile with the costs given in the above data.

Materials Conversion

Cost Added 69,660 18,480 + 22,600

Total Costs 69,660 41,080

These costs reconcile with the given costs.

5 0

3 years ago

The current sections of Whispering Winds Corp.’s balance sheets at December 31, 2019 and 2020, are presented here. Whispering Wi

storchak [24]

Answer:

The amount of cash provided by operating activities is $155,000

Explanation:

The net cash provided by operating activities is shown below by the cash flow statement extract:

Net income $152,000

depreciation expense $24,900

increase in accounts receivable($109700-$77900)($31,800)

Decrease in inventory($171,900-$157,000) $14,900

increase in prepaid expenses($26,700-$25,100) ($1,600)

increase in accrued expenses($14,600-$8400) $6,200

decrease in accounts payable($95,100-$85,500) ($9,600)

net cash provided by operating activities $155,000

Note:

An increase in liability means depriving the other party some cash,hence it is positive and vice versa.

4 0

3 years ago