Answer:
bank statement 56,300
Checks outstanding (25,390)
Deposit in transit not recorded by bank<u> 13,325 </u>
Adjusted bank statement 44,235
Cash account 42,920
Bank debit memo for service charges (35)
check register error: <u> 1,350 </u>
Adjusted cash account 44,235
Explanation:
The procedure is to adjust for the unknow information and mistake of each party.
The bank is unaware of the check outstanding and deposit in transit
The company thanks to the banbk statement gets information about a mistake in his check register as it was posted for 1,500 when it should be 150.
Answer and Explanation:
The computation is shown below;
The Variable cost is
= 55% of $4
=$2.2
Now
Contribution margin per unit
= Sale - Variable cost
= $4 - $2.2
= $1.8 per unit
a.Breakeven point is
= Fixed cost ÷ Contribution margin
In units
= ($702,000 ÷ $1.8)
= 390,000 units
in dollars = (390,000 × $4)
= $1,560,000
b.Margin of safety = Total sales - Breakeven sales
In dollars = ($2,000,000 - $1,560,000)
= $440,000
Margin of safety ratio =Margin of safety ÷ Total sales
= ($440,000 ÷ $2,000,000)
= 22%
Answer:
Debit: Depreciation Equipment Expense: 4.400
Credit: Accumulated Depreciation Equipent: 4.400
Explanation:
As were never register any entry for Drepreciaton during the year, we must register the total ammount of the year.
The normal balance for the expense account is an expense and for the accumulated depreciation is a credit.
Lets go to see the T accounts:
<u>EQUIPMENT</u>
DEBIT CREDIT
532 900,00
Accumulated Depreciation
DEBIT CREDIT
4.400
Expense Depreciacion
DEBIT CREDIT
4.400
BALANCE SHEET PRESENTATION:
ASSETS
FIXED ASSETS
EQUIPMENT 532.000
Accumulated Depreciation -4.400
NET FIXED ASSETS 528.500
It would take 34.5 years for a population of 550 moose to double if 25 offspring are born and 14 moose die on average per year.
