Answer:
The answer
January 1.
Dr Cash $39,000
Cr Notes Payable $39,000
January 31
Dr Interest Expense $195
Dr Notes Payable $720.92
Cr Cash $915.92
February 28
Dr Interest Expense $191.40
Dr Notes Payable $724.52
Cr Cash $915.92
Explanation:
Annual Interest on the notes is $2,340(6% of $39,000)
Monthly interest will therefore be $195($2,340 ÷12 months)
Notes payable is $720.92($915.92 - $195)
For second month
$39,000 - $720.92 =$38,279.08
($38,279.08 x 0.06) ÷ 12 = $191.40
January 1.
Dr Cash $39,000
Cr Notes Payable $39,000
January 31
Dr Interest Expense $195
Dr Notes Payable $720.92
Cr Cash $915.92
February 28
Dr Interest Expense $191.40
Dr Notes Payable $724.52
Cr Cash $915.92
<u>Solution and Explanation:</u>
The following table has been made in order to find out the total variance cost that has been incurred and the total cost
<u>Particulars</u> <u>Cost formula based</u> <u>Flexible budget </u> <u>Actual</u> <u>Variance</u>
<u> on 50000 units</u> <u>on the basis of </u>
<u>60000 unit</u>
Direct materials $2 120000 $110000 10000 F
The direct labour $1 60000 60000 0
Variable overhead $1.5 90000 100000 10000 U
Fixed overhead $100000 100000 97000 3000 F
The total cost 370000 367000 3000 F
Where F stands for – favourable and U stands for unfavourable
The total variance cost after the above calculations is = $3000 F
The four benefits of international strategies are increased the market size. The initial step in most organizations global development plans is typically an international strategy. The most effective technique is transnational, but it's also the most complicated in terms of the interactions and communications.
There is no one method that works for all the business ventures that involve global development. The emphasis on efficiency and low cost, as well as meeting cultural and societal needs locally, influence how these tactics are the different. International multi-domestic, global, and transnational are the four fundamental international strategies that multinational firms can choose from.
To learn more about international strategies, click here
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Answer:
1. $3,465
2. $1,950
3. $8,050
Explanation:
The computation is shown below:
1. The balance in Work in Process at the end of the month is shown below:
= Job 303 + Job 306 + Job 308 + Job 309 + Job 310
= $780 + $350 + $620 + $1,200 + $515
= $3,465
2. The balance in Finished Goods at the end of the month is shown below:
= Job 302 + Job 307
= $1,240 + $710
= $1,950
3. The Cost of Goods Sold for the month is given below:
= Job 301 + Job 304 + Job 305
= $1,600 + $2,300 + $4,150
= $8,050
Answer:
A) Cash (debit) 180,000; Common stock (credit) 150,000; Additional paid-up capital-common stock (credit) 30,000 - Debit - Credit = 0
B) Cash (debit) 255,000; Preferred stock (credit) 250,000; Additional paid-up capital-preferred stock (credit) 5,000 - Debit - Credit = 0
C) Cash (debit) 900,000; Common stock (credit) 600,000; Additional paid-up capital-common stock (credit) 300,000 - Debit - Credit = 0
Explanation:
In Eastport Inc.´s case all 3 situations are similar, shares (Stockholders´Equity) increased, so credits in 4 accounts, according to the type of shares that are issued, must be registered: Common stock, Preferred stock, Additional paid-up capital-common stock, Additional paid-up capital- preferred stock. We will recognize the par value and stated value of the shares and the difference between this and the price paid by shareholders will be recognized as additional paid-up capital. Also, cash (Asset) is received as payment for the shares so a debit must be registered in the account Cash.