Answer:
attached below is the missing part of the question
$17000
Explanation:
1) calculate the cash dividends
= beginning earnings + net income for the period - ending retained earnings
= $44000 + $57000 - $68000 = $33000
2 ) calculate the amount of cash receipt from the sale of plant assets
first we will calculate the dep on sale of plant products
= beginning accumulated depreciation + depreciation expense - ending accumulated depreciation
= 22500 + 12000 - 24500 = $10000
next we calculate the cost of sale of plant assets
= beginning plant asset + acquisition new plant assets - ending plant asset
= $123500 + $29000 - $131500 = $21000
Hence the cash receipt from the sale plant assets = cost of sale of plant assets - dep on sale of plant products + gain on the sale of plant assets
= 21000 - 10000 + 6000 = $17000
Answer:
(A) $40,000
Explanation:
At the time of recording of the fixed assets, the fixed assets should be recorded at purchase cost or historical price
Since in the question, the land was purchased at $40,000. Moreover, for the tax purpose, the land is valued at $27,000 and the qualified appraiser appraise the value at $48,000. The cash payment is also offered for $46,000
But at the time of recording or reported, the balance sheet would show at the purchase price i.e $40,000
Answer:
It is cheaper to make the product in house.
Explanation:
Giving the following information:
Direct labor $250,000 Direct materials 300,000 Variable overhead 65,000 Fixed overhead 185,000 An outside supplier has offered to supply the tiller extensions for $720,000. If Zoomer accepts the offer $85,000 of fixed costs can be avoided.
We will calculate the total cost of both options:
Make in the house:
Total cost= 250,000 + 300,000 + 65,000 + 185,000= $800,000
Buy:
Total cost= 720,000 + 100,000= $820,000
It is cheaper to make the product in house.
Answer:
Dr Petty cash $312
Cr Cash $312
Explanation:
Preparation of the journal entry to record the reimbursement of the fund on September 30
Since we were told that Havermill Co. establishes the amount of $450 as petty cash fund on September 1 in which the fund also had a balance of $138 which means the Amount required for reimbursement of the fund will be:
Amount required for reimbursement of the fund = The Beginning balance - The Remaining balance
Amount required for reimbursement of the fund = 450 - 138
Amount required for reimbursement of the fund = $312
Therefore the journal entry to record the reimbursement of the fund on September 30 will be :
September 30
Dr Petty cash $312
Cr Cash $312
