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3 years ago

Bake Co.'s trial balance included the following at December 31, Year 1:

Business

1 answer:

Dafna1 [17]3 years ago

5 1

Answer:

B. $390,000

Explanation:

On December 31, 20X6, Bake's current liabilities equal $390,000. Accounts payable are current; the bonds payable, due in 20X7, will mature in the next 12 months are current (minus the discount on the bonds payable); and the deferred tax liability will reverse in the next 12 months and is also current. ($80,000 + $300,000 - 15,000 + $25,000 = $390,000).

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Before prorating the manufacturing overhead costs at the end of 2016, the Cost of Goods Sold and Finished Goods Inventory had ap

CaHeK987 [17]

Answer: $60238

Explanation:

First and foremost, we need to calculate the over applied overhead which will be the difference between the actual overhead and the applied overhead. This will be:

= $78600 - $75000

= $3600

Then, the portion allocated to the cost of goods sold will be:

= $3600 × $57600 /($57600 + $21000)

= $3600 × $57600/$78600

= $3600 × 0.7328

= $2638

Therefore, the cost of Goods Sold after the proration will be:

= $57600 + $2638

= $60238

5 0

3 years ago

Thirsty Thelma owns and operates a small lemonade stand. When Thelma is producing a low quantity of lemonade she has few workers

IRISSAK [1]

Answer:

b. the marginal cost of one more glass of lemonade is smaller than if output were high.

Explanation:

Since the Thirsty Thelma operates in small lemonade stand and when she produced a low quantity of lemonade she has fewer workers plus her equipment is also not fully utilized

So she put her idle resources to use for one more glass of lemonade as if its output is high

Hence, the second option is correct

3 0

2 years ago

The deadweight loss associated with a monopoly occurs because the monopolist:_______

VARVARA [1.3K]

Answer:

Explanation:

Hopefully this helps

7 0

3 years ago

Find the interest earned on invested for years at % interest compounded as follows. a. Annually b. Semiannually (twice a year

Katen [24]

Answer:

$3979.79

2 $4023.63

Explanation:

Here is the full question used in answering this question :

Find the interest earned on $15,000 invested for 6 years at 4% interest compounded as follows. a. Annually b. Semiannually (twice a year) c. Quarterly d. Monthly e. Continuously

the formula for determining interest earned is :

future value - present value

The formula for calculating future value:

FV = P (1 + r/m)^mn

FV = Future value

P = Present value

R = interest rate

N = number of years

m = number of compounding

1. 15,000 ( 1 + 0.04)^6 = 18979.79

18979.79 - 15,000 = $3979.79

2 1. 15,000 ( 1 + 0.04/2)^12 = 19023.63 = $4023.63

3 0

2 years ago

A ________ rate means the value of the currency is fixed relative to a reference currency and then the exchange rate between tha

Harlamova29_29 [7]

Answer:

Pegged exchange rate system

Explanation:

In the pegged exchange rate system, a country ties its currency exchange price to that of a more widely used currency at a fixed rate. The US dollar is the most accepted currency for international trade. Countries that use the fixed exchange system peg their currency price to the US dollar. The government will set a fix the exchange rate of its currency relative to the US dollar value.

A pegged exchange rate is also known as a fixed exchange rate. A pegged or fixed exchange rate keeps the currency value within a narrow range. It gives certainty to exporters and importers and helps the government to keep inflation low.

4 0

3 years ago

Read 2 more answers