Answer:
A)After the reversing entry is posted for the adjustment made to recognize the salaries expense at the end of the accounting period, the Salaries Expense account will have a zero balance and the Salaries Payable account will have a credit balance
Explanation:
Reversing entry can be regarded as
a journal entry which is been made during an accounting period, it
reverses selected entries that is been made during immediately preceding period. reversing entry typically take placeat the beginning of particular accounting period.
It should be noted thatReversing entries are;
1) made to reverse the effect of certain adjustments.
2) provide a way to guard against oversights, eliminate the review of accounting records, and simplify the entry made in the new period.
3)is the exact opposite (the reverse) of the adjustment.
Answer:
1. Estimate Product XT's break-even point in terms of sales units and sale dollars.
break even point = $193,200 / ($210 - $168) = 4,600 package (each containing 100 yards)
break even point in $ = 4,600 x $210 = $966,000
2) attached graph
3) Income Statement
Revenue $966,000
Variable costs <u>($772,800)</u>
Contribution margin $193,200
Fixed expenses <u>($193,200)</u>
Operating income $0
Answer:
You can put this solution on YOUR website!
A 1987 advertisement in the New Yorker solicited offers on a 1967 Mercury Cougar XR7 (Motor Trend's 1967 car of the year) that had been stored undriven in a climate controlled environment for 20 years.
If the original owner paid $4000 for this car in 1967, what price would he have to receive in 1987 to obtain a 10 percent annual return on his investment?
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If the 10% is compounded yearly the price is as followed.
A(10) = 4000(1+(0.10/1))^(10*1)
---
A(10) = 4000(1.1)^10
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A(10) = $10,374.97
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Cheers,
Stan H.
Answer:
Equal to
Explanation:
When the price of a corporation's common stock is equal to the present value of discounted future cash flows, it will show a true representation of the value of the firm and in turn investors will have confidence in the company and its projected performance.
As new shares are issued from a company the company issues the shares at a forecasted future value based on the expected cash flows of the business.
For example if a company has estimated it will have cash flow of $12 million in the next one year, and it wants to issue 6 million shares. The value of the issued shares will be $12 million/6 million= $2. The firm is leveraging on it forecasted performance and cash flows.
Answer:
He can buy both 3 ( number of ) Products A and B .
Explanation:
Suppose the no of product A bought is x and the number of product B purchased is y .
Then Total Cost would be 4x+ 5y= 27 ----eq 1
As he wants to buy both products he can divide the money equally
1:1.
As the individual cost would be $4 + $5 = $ 9
Putting symbols for cost x+ y= 9----- eq 2
Dividing the total cost by the individual cost would give ( eq1 by eq2)
4x+ 5y/ x+ y= 27/9
4x+ 5y/ x+y= 3
4x + 5y= 3(x+y)
but as 4x + 5y = 27 ( already given)
27= 3 ( x+y)
Meaning 3 number of both products can be purchased.
Check .
4(3) + 5(3)= 27
$ 12+ $ 15= $27