Answer:
$243,900
Explanation:
Calip corporation reported the following results for the month of October
Sales= $413,000
Cost of goods sold= $169,100
Total variable sling expenditure= $20,700
Total fixed selling expense= $17,900
Total variable administrative expense= $13,100
Total fixed administrative expense= $30,400
The contribution margin can be calculated by subtracting the total cost of goods sold from the sales
= $413,000-$169,100
= $243,900
Hence the contribution margin for October is $243,900
a. The amount of land on the balance sheet will be $36,000 which is historical cost of the land. Land is not subject to depreciation so it is recorded at historical cost and not carrying value.
b. The amount of rent expense reported on Income statement will be $5,500 [ $ 6,000 * 11 /12 months ]
c. The total amount of liabilities reported on the balance sheet will be $43,800. This includes the contingent liabilities and warranties.
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Actual spending. It is important to compare the budget, which is expected spending, to actual spending to make adjustments and catch potential problems or figure out what to do extra money.
Answer:
The death benefit or cash accumulation will be reduced by the partial withdrawal.
Explanation:
Answer:
Sept 1,
DR Stock dividends $52,500
CR Common stock $9,000
CR Additional paid in capital $43,500
Sept 1,
DR Stock dividends $90,000
CR Common stock $90,000
Sept 1,
No journal entry required.
<u>Workings</u>
Small Dividends
<em>Stock dividends</em>
= 15,000 * 10% * $35
= $52,500
<em>Common stock </em>
= 15,000*10%* $6
= $9,000
<em>Additional paid in capital</em>
= 52,500 - 9000
= $43,500
Large Dividends
<em>Stock dividends</em>
= 15,000 * $6
= $90,000
<em>Common stock </em>
= 15,000 * $6
= $90,000
<em>No entry for stock splits.</em>
