<span>Unattainable points are outside the PPF. The PPF refers to the Production Possibilities Frontier. This is set by the economic standing of a country and a country is not able to perform and produce outside of their set PPF. Due to this, all unattainable points are located outside of the PPF. </span>
Answer:
A sole proprietorship
Explanation:
A sole proprietorship is a business owned, organized, and run by a sole proprietor. It is legally advisable that all business and private activities of any form of business are conducted separately. Commingling business dealings, assets, and especially bank accounts with private affairs do cause problems for the business person.
Answer: D. underapplied overhead of $6,000.
Explanation:
First we find the Pre-determined overhead rate and we can see that the company estimated manufacturing overhead would be $150,000 and direct labour hours would be 10,000.
So the Pre-determined rate is,
= 150,000/10,000
= $15 per direct labour hour.
We then calculate the actual Applied Overhead. The actual direct labour was 12,000 so calculating we have,
= 15 * 12,000
= $180,000
Now we then calculate for the Underapplied or (Overapplied) manufacturing overhead amount.
The formula is,
Underapplied (Overapplied) Manufacturing = Actual Manufacturing Overhead - Applied Manufacturing Overhead
Underapplied (Overapplied) = 186,000 - 180,000
= $6,000
It is a positive number so it is $6,000 underapplied therefore option D is correct.
Answer:
Treasury Stock Common is debited for $480,000
Explanation:
40,000 shares x $12 per share = $480,000
<u>The purchase of stock will be recorded at cost:</u>
treasury stock 480,000 debit
cash 480,000 credit
The common stock and additional paid-in capital are not modified.
If the company sales his Treasury Stock it will recognize the difference against paid-in capital
If the company retires this shares, it will adjust agains common stock and additional paid-in
Answer:
Business A
Journal Entries:
Debit Accounts Payable $96,000
Credit 10% Notes Payable $96,000
To record the issuance of a 60-day, 10% note to a creditor on account.
Debit 10% Notes Payable $96,000
Debit Interest Expense $1,600
Credit Cash $97,600
To record the payment of the note at maturing, including interest.
Explanation:
a) Data and Analysis:
Accounts Payable $96,000
10% Notes Payable $96,000
10% Notes Payable $96,000
Interest Expense $1,600
Cash $97,600
