Answer:
Explanation:
Karen contributed $1000, so her account decreased by $1000
Company paid $1000 to WKUX radio, so WKUX income increased by $1000
Someone donated $20000 due to campaign, so those who donated decreased their cash account by $20000
VHRF paid Mercy Hospital $12000, so hospital's account increased by $12000
Company contributed to NC Fund of $8000, so their account increased by $8000
VHRF TRANSACTIONS EFFECT:
1. Cash account increased by $21000 (charitable contributions)
2. Cash account decreased by $1000 (radio advertisement)
3. Cash account decreased by $12000 (hospital bills)
4. Cash account decreased by $8000 (contribution to NC fund)
Answer:
Total sales variance $87,340 Favorable
See report below
Explanation:
The sales budget for the month of June would like as follows:
Budgeted Sales
Product units Price Total($)
A 40,000 $7 280,000
B 39,000 $9 351,000
Actual sales
Product units Price Total($)
A 39,000 $7.10 276,900
B 49,600 $8.90 441440
Sales Budget Report for the month of June 2019
Budget Actual Variance ($)
A 280,000 276,900 3,100 Unfavorable
B 351,000 441,440 <u>90,440 </u>favorable
Total sales variance <u> 87,340 Favorable</u>
Answer:
None
Explanation:
This transaction has a nil effect on the accounting equation.
The accounting equation is as given below;
Assets = Liabilities + Equity
The purchase of supplies with cash is a credit to cash and a debit to inventory. This represents a decrease in one asset and an increase in another of the same amount.
Hence no change happens to the equation.
The liabilities and equity account are not affected by the transaction.