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3 years ago

Transactions for Sheridan Company for the month of June are presented below.

Business

1 answer:

kobusy [5.1K]3 years ago

6 0

Answer:

The journal entries are as follows:

(i) On June 1,

Cash A/c Dr. $5,890

To Owner's capital $5,890

(To record the issue of common stock)

(ii) On June 2,

Equipment A/c Dr. $1,240

To Accounts payable $1,240

(To record the purchase of equipment on account)

(iii) On June 3,

Rent Expense A/c Dr. $670

To cash $670

(To record the payment of rent)

(iv) On June 12,

Account receivable A/c Dr. $880

To service revenue $880

(To record the service provided on account)

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Borghia Pharmaceuticals has $1 million allocated for capital expenditures. a. Which of the following projects should the company

balu736 [363]

Answer:

Please refer below the answer in detail

Explanation:

With a limited budget, the firm will first pursue projects with the highest return, and the allocate the remaining capital to the project with the second highest return, and so on until all capital is fully allocated. Based on the information, Project 6 has the highest return, followed by 1 and 3. These three projects together will cost:

350,000 + 300,000 + 250,000 = $900,000

After those three projects, the firm will have $100,000 left. The best out of remaining project is 7, but it costs 400,000, which the firm cannot afford. The best affordable project is 4, which offers a return of 12.1%. Hence, the firm should spend the remaining 100,000 on project 4.

The budget limit constraints the firm to give up project 7, which offers a NPV of $48,000. The firm is forced to choose project 4, which has a NPV of $14,000.

Thus the lost in market value of the firm = 48,000 - 14,000 = $34,000.

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3 years ago

The U.S. Supreme Court case United States v. Bagley compels the prosecution to disclose any evidence that the _________ requests

nikdorinn [45]

Hello,

Question - The U.S. Supreme Court case United States v. Bagley compels the prosecution to disclose any evidence that the _________ requests.

Answer - "evidence that the defense requests"

Why - "Bagley claimed that the government had violated his due process rights by withholding evidence that the defense could have utilized to impeach the witnesses. The district court held that the evidence was not material because the outcome would have been the same. "

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3 years ago

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When does one country have an absolute advantage over another country?

Rashid [163]

A country with an absolute advantage over another country achieves this if their production costs are lower.

Absolute advantage means a company or individual out perform another more efficiently. In this case, if two companies are making a product and one selling them for the same price, but one company can make the product for cheaper, they have an absolute advantage.

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3 years ago

Rock industries allocates manufacturing overhead based on direct labor cost. any overallocated or underallocated overhead is clo

Butoxors [25]

Answer:

Note: The full question is attached as picture below

Overhead Cost of one Month = Total Overhead Cost / 12 Month

Overhead Cost of one Month = $403,200 / 12 month

Overhead Cost of one Month = $33,600

So, Overhead Chargeable Per Month is $33,600

PARTICULARS AMOUNT

Direct Materials $26,000

Direct Labor $21,000

Manufacturing overhead Applied <u>$33,600</u>

Total Manufacturing Expenses $80,600

Less: Job Work in Process

Direct Materials $3,000

Direct Labor $1,500

Cost of Goods Sold before proration $76,100

of over or under allocated overhead

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3 years ago

What is an example of a savings and loans bank?

tatyana61 [14]

Answer:

Savings and loan institutions–also referred to as S&Ls, thrift banks, savings banks, or savings institutions–provide many of the same services to customers as commercial banks, including deposits, loans, mortgages, checks, and debit cards.

Explanation:

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