Answer:
Correct ending balance 7855
Explanation:
Cash 7844
Books
Cash receipts pending on bank -3238
Checks written 1325
Banks
Bank service fee -25
Interest earned 36
Bank conciliation 5942
Bank account 5942
7844
Correct ending balance 7855
Answer:
9 years
Explanation:
Invoices and monthly statements are financial records of a company. Such records are subject to audit and tax queries. Typically, tax and audit queries arise after transactions and the financial year has been concluded. Sometimes, it may take years to conclude audit or tax queries.
Nine years is considered an ideal time to store such records. It is ample time to allow for any references to audit, tax, or any other query.
Answer:
Allocated overhead= $30,000
Explanation:
<h3>
First, we need to calculate the plantwide predetermined overhead rate:</h3>
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 80,000/16,000
Predetermined manufacturing overhead rate= $5 per <u>direct labor hour</u>
<u>Now, we can allocate overhead to Small Monitors:</u>
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Small Monitors:
Allocated overhead= 5*6,000= $30,000
Answer:
If revenues are less than total cost, a company does not reach the break even point, which results in a less. A company that fails to make enough sales to meet the break even point accumulates debt over time, which can eventually cause a company to go out of business .
Explanation:
I hope it is the right answer you were looking for.
Answer:
The required adjusting entry at the end of the accounting period is : A) Interest expense 4,000 Interest payable 4,000
Explanation:
Interest is Accrued from September 1 ,2004 to December 31, 2014 in the 2014 accounting period. Thus we a period of over 4 months out of the 12 months in a year.
Considering the Matching or Accrual Principle Interest will only be considered for these 4 months only (Revenues and Expenses must be recorded in the period in which they Accrue or Incur)
Calculation of the Interest expense and the Interest Payable is :
=$100,000 × 12% × 4/12
=$ 4,000
