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Ad libitum [116K]
3 years ago
13

During the current month, a company that uses job order costing purchases $50,000 in raw materials for cash. It then uses $12,00

0 of raw materials indirectly as factory supplies and uses $32,000 of raw materials as direct materials. Prepare journal entries to record these three transactions.
Business
1 answer:
Maksim231197 [3]3 years ago
5 0

Answer:

Please see details below:

Explanation:

Raw materials inventory    $ 50.000

                 Cash      $50.000

*this entry register the stock of the raw materials in the accounting system.

Factory Supplies      $12.000

                 Raw materials inventory    $12.000

*Some raw materials can be used as intermediate goods..

Finished Goods      $12.000

                 Raw materials inventory    $12.000

*Some raw materials can be used as Finished goods..

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The Verizon CEO stated, "Corporate responsibility starts with a belief that what you do is important to society. This belief is
AleksAgata [21]

Answer:

corporate mission or marketing strategy area

Explanation:

Based on the information provided it can be said that this is an example of the corporate responsibility strategy being a part of the corporate mission or marketing strategy area. This refers to a specific sentence that encompasses the company's function, philosophies and goals which they strive to achieve and is the entire reason for existing in the market.

8 0
4 years ago
Skysong, Inc. reported net income of $194,500 for 2020. Skysong also reported depreciation expense of $47,500 and a loss of $6,2
Elza [17]

Answer:

Net cashflow from operating activities =$271,400

Explanation:

<em>The cash flow statement is a financial statement that provides information about the sources and the usage of cash during a particular accounting period usually a year.</em>

It provides the cash inflow and outflows under three (3 ) categories of activities operating investing, financing.

The net operating activities section of the  cash flow is prepared below:

                                                                            $  

Net income                                                      194,500

Add Depreciation expense                             47,500

Add Loss on disposal                                       6,200

Add Decrease in account receivable             18,200

Add Increase in accounts payable                <u>  5,000</u>

Net cashflow from operating activities      <u>271,400  </u>

8 0
3 years ago
On June 30, 2017, BobCat Inc. total current assets were $510,000 and its total current liabilities were $250,000. On July 1, 201
andriy [413]

Answer:

Increase.

Explanation:

Given that,

Total current assets = $510,000

Total current liabilities = $250,000

Current ratio before paying short term note:

= Total current assets ÷ Total current liabilities

= $510,000 ÷ $250,000

= 2.04

On July 1, 2017: Payment of short term note with cash = $60,000

This payment of short term note reduces the total current assets in terms of cash reduction and also reduces the total current liabilities in terms of short term liability.

New total current assets:

= $510,000 - $60,000

= $450,000

New current liability:

= $250,000 - $60,000

= $190,000

Current ratio:

= New Total current assets ÷ New Total current liabilities

= $450,000 ÷ $190,000

= 2.37

Therefore, the current ratio of this firm increases from 2.04 to 2.37.

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3 years ago
In the business world, you need this trait so you can stay ahead of the competition. independence risk-taking self-assurance con
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Answer:

oi

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3 years ago
eaver Chocolate Co. expects to earn $3.50 per share during the current year, its expecteddividend payout ratio is 65%, its expec
Agata [3.3K]

Answer:

cost of equity  = 13.36  %

Explanation:

given data

earn = $3.50

ratio = 65%

growth rate = 6.0%

common stock currently sells = $32.50

flotation cost = 5%

to find out

cost of equity from new common stock

solution

we get here cost of equity from new common stock that is express as

cost of equity  = \frac{D1}{Po-(1-f)} + g   ...................1

here D1 is expected dividend  and Po is current price  and g is growth rate and f is flotation cost and

D1 = 3.50 × 0.65

so from equation 1 we get

cost of equity  = \frac{3.50*0.65}{32.50(1-0.05)} + 6%

cost of equity  = 0.1336

cost of equity  = 13.36  %

5 0
4 years ago
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