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Sati [7]
3 years ago
6

Journalise the followung transactions.

Business
1 answer:
katovenus [111]3 years ago
3 0

Answer:

Explanation:

S/No        Date        Transaction          Dr($)          Cr($)

1             Oct.1         Rent Expense      3,600

                                    Cash                                 3,600

2.           Oct.3        Advert. Expenses  1,200

                                    Cash                                   1,200

3.            Oct.5           Supplies              750

                                     Cash                                      750

4             Oct.6       Office equipment     8000

                                Accounts Payable                       8,000

5             Oct.10               Cash                1 4,800

                                Accounts receivable                    14,800

6              Oct.15    Accounts payable      7,110

                                      Cash                                         7,110

7.              Oct.27    Miscellaneous             400

                                        Cash                                        400

8               Oct.30    Utilities Expenses      250

                                       Cash                                          250

9               Oct 31     Accounts receivable   33,100

                                       Fees earned                             33,100

10              Oct.31          Utility Expense       1,050

                                           Cash                                        1050

11               Oct.31                Drawings           2,500

                                              Cash                                    2,500

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The following income statements were drawn from the annual reports of the Denver Company and the Reno Company: Denver* Reno* Net
Lynna [10]

Answer:

1. Gross margin percentage:

For Denver and the Reno is 53% and 27%

2. Return on sales ratio:

For Denver and the Reno is 18% and 10%

Explanation:

1. The formula to compute the gross margin percentage is shown below:

Gross margin percentage = (Gross margin) ÷ (Net sales) × 100

For Denver  = ($17,760 ÷ $33,200) × 100 = 53%

For Reno = ($23,850 ÷ $86,900) × 100 = 27%

2. The formula to compute the return-on-sales ratios is shown below:

Return-on-sales ratio = (Net income) ÷ (Net sales) × 100

For Denver  = ($6,000 ÷ $33,200) × 100 = 18%

For Reno = ($8,502 ÷ $86,900) × 100 = 10%

6 0
3 years ago
Mauro Products distributes a single product, a woven basket whose selling price is $21 per unit and whose variable expense is $1
Grace [21]

Answer:

1. Break even points in units will be =  2,700 units

2. Break-even point in dollar sales = $56,700

3. In case fixed expense increase by $600 then Break even point in unit sales = 2,900 units

Explanation:

Break even point = \frac{Fixed Cost}{Contribution per unit}

Fixed Cost = $8,100

Contribution per unit = Sale Price - Variable Cost = $21 - $18 = $3

1. Break even points in units will be

= \frac{8,100}{3} = 2,700 units.

2. Break-even point in dollar sales

= Break even point in units X Sale price per unit

= 2,700 units X $21 = $56,700

3. In case fixed expense increase by $600 then Break even point in unit sales

= \frac{8,100 + 600}{3} = 2,900 units

Final Answer

1. Break even points in units will be =  2,700 units

2. Break-even point in dollar sales = $56,700

3. In case fixed expense increase by $600 then Break even point in unit sales = 2,900 units

3 0
3 years ago
Company X currently has a capital structure that consists of 40% equity, 20% preferred equity, and 40% of debt. The risk-free ra
Sindrei [870]

Answer:

14.58%

Explanation:

WACC = weight of equity x cost of equity + weight of debt x cost of debt x (1 - tax rate) + weight of preferred equity x dividend yield

According to the capital asset price model: Expected rate of return = risk free + beta x (market rate of return - risk free rate of return)

r= 3% + 1.1 x 8 = 11.8

equity = 0.4 x 11.8% = 4.72

d = 0.4 x 5 x (1 -0.21) = 1.58

p = 0.2 x 6 =  1.2

11.8 + 1.58 + 1.2 =

8 0
3 years ago
Record the entry to close the income summary assuming the partners agree to use plan c and net income is $460,500
slava [35]

The entry is record in book as

Date Particular                L.F.     Dr. Amt.        Cr. Amt.

Income summary a/c             $460,500  

To Mo a/c                                          $69,300

To Lu a/c                                          $269,500

To Barb a/c                                          $431,200

What is net income?

The total amount of firm profit after deducting all taxes, costs, and interest is referred to as "net income."

Particulars                 Mo           Lu                 Barb

Capital invested        $69,300    $269,500  $431,200

Profit sharing ratio 20/100   40/100         40/100

Profit ($460,500)         92100    184200 184200

As a result,  Mo is  92100;  Lu is 184200; Barb is 184200 as profit.

Learn more about on net income, here:

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