The journal entries to record this event under each of the following separate situations.
A Journal entry is a record of the commercial enterprise transactions inside the accounting books of a enterprise. A well documented journal entry consists of the ideal date, amounts to be debited and credited, description of the transaction and a unique reference wide variety. A journal entry is the first step within the accounting cycle.
Journal entry
No account and explanation Debit Credit
a Cash 54200
Common Stock (6000*6) 36000
Paid in Capital in excess of par value-Common Stock 18200
b Cash 54200
Common Stock 54200
c Cash 54200
Common Stock (6000*3) 18000
Paid in Capital in excess of stated value-Common Stock 36200
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Answer:
The optimal stocking level is 243 boxes
Explanation:
In order to calculate the optimal stocking level we would have to calculate the following formula:
optimal stocking level=mean+(Z* standard deviation)
According to the given data we have the following:
mean=250 boxes per day
standard deviation=22 boxes
To calculate the z value we would have to calculate the service level as follows:
service level=shortage/(shortage+overage)
service level=3/(3+5)
service level=0.38
Hence, z value is -0.31
Therefore, optimal stocking level=250 + (-0.31 * 22)
optimal stocking level=243 boxes
The optimal stocking level is 243 boxes
Answer: See explanation
Explanation:
a. Prepare an amortization table.
The ammortization table has been prepared and attached.
Note that:
Cash paid = $77000 × 7%
Interest expense was calculated as:
= Last year’s Bond Carrying value × 10%
Discount ammortization = Interest Expense - Cash Paid
b. What is the carrying value that would appear on the Year 4 balance sheet?
The carrying value will be $75600.
c. What is the interest expense that would appear on the Year 4 income statement?
The interest expense will be $7433.
d. What is the amount of cash outflow for interest that would appear in the operating activities section of the Year 4 statement of cash flows?
The cash outflow for interest be $6160.
Carrying Value = $75600
Interest Expense = $7433
Cash Outflow for Interest = $6160
Answer:
b. are selling costs and administrative costs.
Explanation:
A period cost consists of cost that do not fall under the category of fixed assets, payments in advance, or inventory. It is not that related to transactional event but highly related to the passage of time. A period cost is therefore recorded in the income statement as part of the selling and administrative expenses.
Some of the examples of period costs are utilities, rent, office supplies, stationery, depreciation of office equipment and others which are categorized as selling costs and administrative expenses.
