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3 years ago

In the case avery v. midland county, the u.s. supreme court held that

1 answer:

6 0

The population helped by the United States Supreme Court during the case of Avery v. Midland county. It was said in the case that " local government districts had to be roughly equal in population." Furthermore, it implemented the "one person, one vote" policy in each country included.

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A manufacturing company has variable overhead costs of $2.50 per unit and fixed costs of $5,000 per month. Each unit requires 4

Verdich [7]

Answer:

Standard Overhead rate is $1.25 per Direct labor hours

Explanation:

Total variable cost (2000 unit * $2.50) = $5,000

Total fixed cost = $5,000

Estimated Overhead cost = $10,000

Estimated Direct labor hour = 2000 unit * 4 hours = 8,000 hours

Standard Overhead rate = Estimated overhead cost / Estimated Direct labor hour

Standard Overhead rate = $10,000 / 8,000 hours

Standard Overhead rate = $1.25 per Direct labor hours

8 0

4 years ago

1. You are investing $100 today in a savings account at your local bank. Which one of the following termsrefers to the value of

ahrayia [7]

He earned 11$ interest on his 100$

4 0

3 years ago

Read 2 more answers

On January 1, Year 1, Marino Moving Company paid $48,000 cash to purchase a truck. The truck was expected to have a four year us

BabaBlast [244]

Answer:

a- $4,000.

Explanation:

Double Declining Method

The Accelerated depreciation is charged in this method. The depreciation charged in this method is double of the charged in straight-line depreciation method.

Wecan calculate the depreciation as follow

First, calculate the Double declining rate as follow

Depreciation rate = 2 x (1/useful life) x100 = 2 x (1/4 years) x100 = 50%

Now, Charge this rate to the book value of the asset.

Year 1

Depreciation = Book value x Depreciation rate = $48,000 x 50% = $24,000

Year 2

Book value at start of Year = $48,000 - $24,000 = $24,000

Depreciation = Book value x Depreciation rate = $24,000 x 50% = $12,000

Year 3

Book value at start of Year = $24,000 - $12,000 = $12,000

The Depreciation can be charged upto the salvage value.

Depreciation = Book value - Salvage Value = $24,000 - 8,000 = $4,000

3 0

3 years ago

Byrd Company had the following transactions during 2016 and 2017:

-BARSIC- [3]

Answer:

A. Dec. 24, 2016

Dr Equipment-Computer58800

Cr Accounts payable 58800

Dec. 29, 2016

Dr Cash 60000

Cr Notes payable 60000

Dec. 30, 2016

Dr Retained earnings 20000

Cr Dividends payable 20000

Dec. 31, 2016

Dr Interest expense 40

Cr Interest payable 40

Jan. 2, 2017

Dr Accounts payable 58800

Cr Cash 58800

Jan. 5, 2017

Dr Dividends payable 20000

Cr Cash 20000

Jan. 28, 2017

Dr Interest payable 40

Dr Interest expense560

Dr Notes payable 60000

Cr Cash 60600

B.$ 138840

C. 2016 1.9

Explanation:

a. Preparation of the journal entries for Byrd for both 2016 and 2017.

Dec. 24, 2016

Dr Equipment-Computer58800

[$60000 x (1-0.02)]

Cr Accounts payable 58800

(To record purchase of computer on account)

Dec. 29, 2016

Dr Cash 60000

Cr Notes payable 60000

(To record issuance of note payable)

Dec. 30, 2016

Dr Retained earnings ($2.00 x 10000) 20000

Cr Dividends payable 20000

(To record dividends declared)

Dec. 31, 2016

Dr Interest expense 40

($60000 x 12% x 2/360)

Cr Interest payable 40

(To record interest accrued on the note)

Jan. 2, 2017

Dr Accounts payable 58800

Cr Cash 58800

(To record payment on account)

Jan. 5, 2017

Dr Dividends payable 20000

Cr Cash 20000

(To record payment of dividends)

Jan. 28, 2017

Dr Interest payable 40

Dr Interest expense560

($60000 x 12% x 28/360)

Dr Notes payable 60000

Cr Cash 60600

(To record payment on note and interest thereon on maturity)

B. Calculation to Show how the preceding items would be reported in the current liabilities section of Byrd's December 31, 2016, balance sheet.

BYRD COMPANY

Balance Sheet (Partial)

December 31, 2016

Current liabilities

Accounts payable 58800

Notes payable 60000

Interest payable 40

Dividends payable 20000

Total current liabilities $ 138840

C. computation for the current ratio at the end of 2016

Using this formula

Current ratio = Current assets/Current liabilities

End of 2015: 2.4 = $1200000/Current liabilities

Current liabilities = $1200000/2.4 = $500000

End of 2016: Current assets = $1200000 + $60000 = $1260000

Current liabilities = $500000 + $58800 + $60000 + $20000 + $40 = $638840

Now let calculate the Current ratio

Current ratio = $1260000/$638840

Current ratio= 1.9

Therefore Byrd's current ratio at the end of 2016 is 1.9

3 0

3 years ago

An economics professor, upset about the rising cost of textbooks, proposed that his department purchase 50 copies of a statistic

natima [27]

Answer:

B) The textbooks are placed in a common area of the department so students can borrow and return them as needed.

Explanation:

To avoid a new tragedy of the commons from occurring in the statistics class, each student that receives a book should be responsible for taking good care of it.

If the books are simply placed in a common area, anyone can come and take a book home and never return it or return it in a very bad shape.

5 0

3 years ago