A company had sales of $699,000 and cost of goods sold of $280,000. Its gross profit equals:

The following transactions occurred during March 2016 for the Wainwright Corporation. The company owns and operates a wholesale

Triss [41]

Answer:

1. Financing Activity : $300,000

2.Investing Activity : $10,000 and Non-cash Financing and Investing Activity : $30,000

3.Operating Activity : - $90,000

4.Operating Activity : $50,000

5.Operating Activity : -$5,000

6.Operating Activity : -$6,000

7.Operating Activity : -$70,000

8.Operating Activity : $55,000

9.Operating Activity : $1,000

Explanation:

Operating Activities involves the entity`s trading operation in ordinary course of business.

Investing Activities involves the entity`s sale or purchase of Investments.

Financing Activities involves the entity`s acquisition and sale of funds.

6 0

3 years ago

Meenach Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-ho

o-na [289]

Answer:

Fixed overhead application rate

= <u>Budgeted fixed overhead</u>

Budgeted direct labour hours

= <u>$114,000</u>

60,000 hrs

= $1.90 per direct labour hour

Amount of overhead applied to job X387: $

Variable overhead $4.90 x 170 hours = 833

Fixed overhead $1.90 x 170 hours = 323

1,156

Explanation:

In this case, there is need to calculate the fixed overhead application rate based on direct labour hours by dividing the the budgeted fixed overhead by budgeted direct labour hours. Then, we will calculate the overhead applied to Job X387 by multiplying the fixed and variable application rate by actual direct labour hours of 170 hours.

7 0

3 years ago

Hutter Corporation declared a $0.50 per share cash dividend on its common shares. The company has 37,000 shares authorized, 19,2

kipiarov [429]

Answer:

E. Debit Retained Earnings $7,400; credit Common Dividends Payable $7,400.

Explanation:

The Journal entry is shown below:-

Retained earnings Dr, $7,400 (14,800 × $0.50)

To Common dividend Payable $7,400

(Being dividend declaration is recorded)

Here to record the dividend declaration we simply debited the retained earnings as it decreased the stockholder equity and credited the common dividends payable as it increased the liability

So the correct option is D.

4 0

3 years ago

1._____________is the difference between earned income and costs. 2. An organization that produces or distributes a good or serv

Anestetic [448]

Answer:

1. Profit

2. Business

Explanation:

Profit may be defined as the income which is distributed to the owner in the production process of a profitable market. In other words it is the extra revenue generated by the company that is in excess of the money spend as expenses. It is the difference between the earned income and the costs.

Business is a regular work or occupation or trade of a person. It refers to an organized efforts as well as the activities of any individual to produce the goods and services and sell them for a profit.

7 0

3 years ago

I hope that if you graduate, what can you do for this company better?

Fed [463]

Answer:

I be confident for your company

3 0

2 years ago