Answer: Dedicated Funds
Explanation: A dedicated fund is a part of an income that is strictly set aside for a fixed purpose from the moment they are gotten.
A dedicated fund can take any format, some of which includes; money set aside for savings, money kept as tax, money set aside for insurance payments etc.
Liabilities are a vital aspect of a company because they are used to finance operations and pay for large expansions. They can also make transactions between businesses more efficient.
Answer:
$373,200
Explanation:
Product cost is derived through the compilation and addition of the cost of direct labor , direct materials and factory overhead involved in the production of an item
Direct cost
Lumber - 80,600
Assembly line - 100,100
Roof - 15,500
Freight raw materials - 3,700
Total - 199900
Factory overhead
Maintenance workers - 60300
Insurance for factory - 21,100
Utilities in factory - 12,300
Factory Supervisor - 60,900
Depreciation of factory machine - 18,000
Lubricant in factory equipment - 700
Total -173,300
Total product cost - 373200
Answer:
a.less than $500,000
Explanation:
For computing the amount we need to applied the present value which is to be shown in the attachment below:
Data provided in the question
Future value = $500,000
Rate of interest = 7% ÷ 2 = 3.5%
NPER = 2
PMT = $500,000 × 6% ÷ 2 = $15,000
The formula is shown below:
= -PV(Rate;NPER;PMT;FV;type)
After applying the formula, the present value amount is $495,250.76
Answer:
The adjusting entry needed on December 31 is:
Debit Unearned Rent revenue $10,800
Credit Rent Revenue $10,800
Explanation:
Following the Accrual accounting - an accounting method that revenue or expenses are recorded when a transaction occurs rather than when payment is received or made.
The tenant paid five months' rent in advance on October 1. From October 1 to December 31, Vista View Company had rented warehouse space to a tenant for 3 months.
The adjusting entry needed on December 31 is:
Debit Unearned Rent revenue $10,800 ($3,600 x 3 = $10,800)
Credit Rent Revenue $10,800
