1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
velikii [3]
3 years ago
6

bought 2,000 shares of Print Company stock for $12,780. She sold the stock for $7 per share and paid a sales commission of $26.

What is the profit or loss from the sale?
Business
1 answer:
Svetach [21]3 years ago
6 0

Answer:

$1,194

Explanation:

The buying price of the shares was  $12,780

The selling price was $7 dollars for each.

The total amount realized is 2000 share  x $ 7

=$14,000

The commission paid is $26

Net amount obtained is $14,000 -$26

=$13,974

Profit will be $13,974 -$12,780

=$1,194

You might be interested in
Savallas Company is highly automated and uses computers to control manufacturing operations. The company uses a job-order costin
Setler79 [48]

Answer:

Part 1.  Compute the company%u2019s predetermined overhead rate for the year

Predetermined overhead rate  = $15 / Computer Hour

Part 2. Compute the underapplied or overapplied overhead for the year.

Underapplied Overheads are: $1,350,000 -  $900,000 = $450,000

Part 3.  Assume the company closes any underapplied or overapplied overhead directly to cost of goods sold. Prepare the appropriate journal entry.

Cost of goods sold $450,000 (debit)

Overhead Account $450,000 (credit)

Part 4. Company allocates any underapplied or overapplied overhead to work in process, finished goods, and cost of goods sold on the basis of the amount of overhead applied during the year that remains in each account at the end of the year:

Work In Process $18,000 (debit)

Finished Goods $73,008 (debit)

Cost of Goods Sold $315,000 (debit)

Overhead Account $450,000(credit)

Explanation:

Part 1.  Compute the company%u2019s predetermined overhead rate for the year

Predetermined overhead rate = Budgeted Overheads / Budgeted Activity

                                                    = $1,275,000/ 85,000

                                                    = $15 / Computer Hour

Part 2. Compute the underapplied or overapplied overhead for the year.

Applied Overheads = Actual hours × Predetermined overhead rate

                                 = 60,000 × $15

                                 =  $900,000

Actual Overheads = given = $1,350,000

Applied Overheads $900,000 < Actual Overheads $1,350,000, thus we have an underapplied situation

Therefore Underapplied Overheads are: $1,350,000 -  $900,000 = $450,000

Part 3.  Assume the company closes any underapplied or overapplied overhead directly to cost of goods sold. Prepare the appropriate journal entry.

Cost of goods sold $450,000 (debit)

Overhead Account $450,000 (credit)

Part 4. Company allocates any underapplied or overapplied overhead to work in process, finished goods, and cost of goods sold on the basis of the amount of overhead applied during the year that remains in each account at the end of the year:

Allocations:

                                         Totals          Weighted Average%       Allocation

Work In Process              $43,200                   4%                           $18,000

Finished Goods              $280,800               26%                           $73,008

Cost of Goods Sold        $756,000               70%                          $315,000

Total                                $1,080,000            100%                         $450,000

Journals:

Work In Process $18,000 (debit)

Finished Goods $73,008 (debit)

Cost of Goods Sold $315,000 (debit)

Overhead Account $450,000(credit)

5 0
3 years ago
Parkinson Company (PC) had a beginning balance of $86,000 and an ending balance of $90,000 in itslong-term marketable securities
algol [13]
B I think sorry if wrong :/
8 0
2 years ago
Please help me.
Fudgin [204]
A. INCREASE Inventory
4 0
2 years ago
Read 2 more answers
What is a entrepreneurship
svetlana [45]

Entrepreneurship is both the study of how new businesses are created as well as the actual process of starting a new business – the term is used interchangeably.

8 0
3 years ago
Read 2 more answers
An important feature of a job order cost system is that each job:_______.
sammy [17]

Answer:

D

Explanation:

it has it's own distinguishing characteristics ....Form used to record the cost chargeable to a specific job and to determine the total and unit cost of the completed job

6 0
2 years ago
Other questions:
  • HELP PLEASE 99 POINTS AND BRAINIEST!!!!!!!!!!!
    11·2 answers
  • PLEASE HELP ME URGENT
    9·2 answers
  • The payment represents rent for the years 2022 and 2023, the period covered by the lease. Kraft Company is a cash basis taxpayer
    11·1 answer
  • Lowering the costs is one of the objectives of the production and logistics function of an international firm. true or false
    11·1 answer
  • What is NCAA is what do it mean and stand for?
    14·2 answers
  • Nicole is a manager at a fast food restaurant. she is under a lot of pressure from headquarters to increase her monthly profits.
    10·1 answer
  • A nurse manager is preparing to talk to her staff about quality improvement at a staff meeting. Which statement below is a corre
    5·2 answers
  • On January 1, Year 2, Grande Company had a $16,000 balance in the Accounts Receivable account and a zero balance in the Allowanc
    5·1 answer
  • Case Questions:
    14·2 answers
  • Classify each job as working more with data, people, or things.
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!