Which credit score would you tell your friends is the worst for getting a loan?

Prince Company owns 104,000 of the 130,000 shares outstanding of Serf Corporation. Serf Corporation sold equipment to Prince Com

Mnenie [13.5K]

Answer:

Journal 1

At the beginning of the year

Debit : Equipment $380,000

Credit : Retained Earnings ($380,000 - $95,000) $285,000

Credit ; Accumulated Depreciation $95,000

Journal 2

During the year :

Debit : Depreciation $95,000

Credit : Accumulated depreciation $95,000

Explanation:

The sale of equipment to Prince Company is an intragroup transaction and must be eliminated from Prince Company Consolidated Financial Statements as follows :

Carrying Amount before sale :

Carrying Amount = Cost - Accumulated Depreciation

= $1,280,000 - ($1,280,000 ÷ 8)

= $1,120,000

Unrealized gain / loss =Selling Price - Carrying Amount

= $740,000 - $1,120,000

= $380,000 loss

Eliminate this loss on sale of equipment

2017

Unrealized depreciation = $380,000 ÷ 4

= $95,000

Eliminate this depreciation charge deferred at the beginning of 2018

2018

Unrealized depreciation = $380,000 ÷ 4

= $95,000

Eliminate this depreciation charge deferred during 2018

5 0

3 years ago

Flynn Industries has three activity cost pools and two products. It expects to produce 2,200 units of Product BC113 and 1,430 of

netineya [11]

Answer:

Results are below.

Explanation:

First, we need to calculate the allocation rate:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Machine setup= 19,608 / 38= $516 per set up

Machining= 123,650 / 4,945= $25 per machine hour

Packing= 33,530 / 479= $70 per order

Now, we can allocate to each product:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Product BC113:

Machine setup= 516*21= $10,836

Machining= 25*1,122= $28,050

Packing= 70*192= $13,440

Total= $52,326

Product AD908:

Machine setup= 516*17= $8,772

Machining= 25*3,824= $95,600

Packing= 70*287= $20,090

Total= $124,462

Finally, the unitary cost:

Product BC113= 52,326 / 2,200= $28,79

Product AD908= 124,462 / 1,430= $87.04

3 0

3 years ago

The person in charge of managing the reputation of a brand is called?

zhuklara [117]

Brand management.

Explaination: Basically the most legit answer

8 0

3 years ago

Read 2 more answers

Consider a Cobb-Douglas production function with three inputs. K is capital (the number of machines), L is labor (the number of

olga_2 [115]

Based on the above scenario, the production function is Y=K1/3L1/3H1/3.

<h3>What is production function?</h3>

The word production function is known to be an equation that is said to be the one that shows the relationship between the quantities of productive factors (that is labor and capital) that are said to be used and also the number of product that has been obtained.

Note that from the above, the equation that stands for Cobb-Douglas production function with three inputs. K is capital (the number of machines), L is labor, and H is human capital is Y=K1/3L1/3H1/3.

Learn more about production function from

brainly.com/question/25672041

3 0

3 years ago

Joe needs display racks and cabinets to open his clothing store, but he doesn't have the money to pay for them right away. A sup

zhuklara [117]

Answer:

The correct answer is letter "E": a trade credit.

Explanation:

Trade credit implies a customer buying products from a seller that helps the purchaser to later pay for the goods. Essentially, the seller provides the buyer with a short-term loan. Typical terms of trade credit must be charged for 30 days, but may also be 45, 60, 90, or 180 days in some situations.

5 0

4 years ago