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djyliett [7]
3 years ago
5

Davidson Electronics has the following: Units Unit Cost Inventory, Jan. 1 5,000 $ 8 Purchase, April 2 15,000 10 Purchase, Aug. 2

8 20,000 12 If Davidson has 7,000 units on hand at December 31, the cost of ending inventory under the average-cost method is ______
Business
1 answer:
arlik [135]3 years ago
4 0

Answer:

$71,400

Explanation:

Average cost method uses a simple average of all items as follows:

Total cost = (15000 x 8) + (15000x 10) + (20000 X 12) = $510,000

Total inventory = 15000+15000+20000 =50,000

Average cost  = total cost  / total inventory = 510000/50000

= $10.2

Cost of ending inventory =  7000 units x $10.2 = $71400

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If a company is located in south america, what cultural factor would explain the company's choice of a mechanistic structure?
Anika [276]

Based on movies and books I've read, I noticed that the culture in South America is big on familial love. Their family spreads not only immediately, but even to cousins after cousins. You can see them living in family compounds and they greet each other as families.

Therefore, this could be a reason for the company's choice of a mechanistic structure. This structure is about the working together of single parts to create an efficient mechanism. Thus. familial relationship is very important. They have to invest in close family ties through social events.

8 0
3 years ago
Whispering Corporation issued $480,000 of 7% bonds on November 1, 2017, for $515,707. The bonds were dated November 1, 2017, and
Snezhnost [94]

Answer:

                                                                    Debit                           Credit

Interest Expense                                        5,157

Long term Bonds                                                                            5,157

Explanation:

The 7%bond is issued by the Whispering Corporation on November 1, 2017 and the Whispering Corporation is using effective interest method with an interest rate of 6%, therefore the adjusting entry shall be recorded as at December 31,2017 in respect of interest accrued for two months i.e. November and December 2017 by following amount:

515,707*6%*2/12=5,157

The following adjusting entry shall be recorded in accounts of Whispering Corporation in respect of interest accrued as at December 31, 2017:

                                                                    Debit                           Credit

Interest Expense                                        5,157

Long term Bonds                                                                            5,157

4 0
3 years ago
What is the 2016 repayment limitation for a single taxpayer who has income at a 350% poverty level?
ryzh [129]
The correct answer to this question is $1250. To prove this, an image is attached together with this answer. 

<span>The 2016 repayment limitation for a single taxpayer who has income at a 350% poverty level is $1250. Based on the image, it shows that at the line of at least 300% but less than 400%, the repayment limit of single tax payer is $1250.</span>

3 0
2 years ago
Information necessary to prepare the year-end adjusting entries appears below. Depreciation on the office equipment for the year
lisov135 [29]

Answer:

Journal entries

1.

Dr Depreciation expense 10,500

Cr Accumulated depreciation office equipment 10,500

2.

Dr Salaries and wages expense 1,000

Cr Salaries and wages payable1,000

3.

Dr Interest expense1,530

Cr Interest payable1,530

4.

Dr Interest receivable 1,400

Cr Interest revenue 1,400

5.

Dr Prepaid insurance 8,750

Cr Insurance expense 8,750

6.

Dr Supplies expense 380

Cr Supplies 380

7.

Dr Sales revenue 1,400

Cr Deferred revenue 1 400

8.

Dr Rent expense 700

Cr Prepaid rent 700

Explanation:

Calculation for Interest expense

($51,000 × 12% × 3/12) = $1,530

Calculation for Interest receivable ($21,000 × 8% × 10/12) = $1,400

Calculation for Prepaid insurance ($7,000 × 15/12) = $8,750

Calculation for Supplies expense ($1,000 − 620) = $380

4 0
3 years ago
Sumter Pumps Corporation, a manufacturer of industrial pumps, reports the following results for the year ended December 31, 20Y3
serious [3.7K]

Answer:

Explanation:

The preparation of the retained earnings statement for the year ended December 31, 20Y3 is shown below:

Retained earnings, January 1, 20Y3                           $64,083,000

Add: Net income                                                          $7,373,000

Less: Total dividend declared                                     -$3,750,000

Retained earnings, December 31, 20Y3                     $67,706,000

The total dividend declared would be

= Cash dividends declared + Stock dividends declared

= $967,000 + $2,783,000

= $3,750,000

6 0
3 years ago
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