The entry recognized in the books as at June 1, 2018, is as follows:
AJE:_____
Dr. Cash $40,460
Cr. Rental Income $40,460
<span>To record payment of rental from customer
</span>However, since portion only is realized as at December 31, 2018, thus, adjusting journal entry should be made to adjust the unearned portion.
AJE:___
Dr. Rental Income $16,858
Cr. Unearned Rental Income $16,858
<span><em>To adjust unearned rental income of 5 months
</em>
The unearned rental income is presented under Accounts Payable portion of the books. </span>
Answer:
The answers are:
The total conversion costs were $59,400
The total costs of units completed were $117,000
Explanation:
The total conversion costs are direct labor and factory overhead:
- total conversion costs = $49,500 + $9,900 = $59,400
To calculate the total costs of units completed we must first calculate the equivalent units completed.
- 9,000 units were 100% completed
- 3,000 units were only 30% completed, which are equivalent to 900 units completed (3,000 x 30%).
Now we calculate the conversion costs per unit completed by dividing the total conversion costs over the equivalent units completed:
- $59,400 / 9,900 units = $6 conversion costs per unit completed
To calculate the materials costs per unit, we divide the total materials costs by the total units that entered production (since materials are added at the beginning of the production process):
- $84,000 / 12,000 units = $7 materials costs per unit completed
Now we have the total costs per unit completed $13 ($6 + $7) and to calculate the total cost of units completed we multiply 9,000 units x $13 = $117,000.
The asnser your looimg for would be a fat ol D
Answer:
Profit= $4,400
Explanation:
Giving the following information:
Sales= 300 units
Selling price= $48
Unitary variable cost= $20
Fixed cost= $4,000
F<u>irst, we need to calculate the contribution margin:</u>
Contribution margin= 48 - 20= $28 per unit
<u>Now, the projected profit:</u>
Profit= 300*28 - 4,000
Profit= $4,400
Answer:
In what ways was the economic prosperity of the 1920s genuine, and in what ways did this prosperity disguise serious economic problems?
Do you think most people perceived the underlying problems in the economy? Why or why not?
Explanation:
The factors which contributed to the counterfeit prosperity of the 1920s were the abundant availability of consumer goods; farmers bought plenty of land and farm equipment and produced a large amount of goods for market; the availability of credits and the stock market performance led the people to obtain higher standards of living and leisure time; President Herbert Hoover and other politicians declared that the economy was doing extremely well.
But people realized a dramatic change in the economy, when it went from this apparent prosperity to a severe depression between 1929 and 1932, with the stock market-black tuesday in Oct., 29, 1929, when the farmers-demand for food goes down after WWI, prices went down, farmers over produced, could not pay back loans and land was lost
; loans not paid back caused banks failed, people began spending less on consumer goods and personal income and debt-income gap between rich and poor increased.
