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777dan777 [17]
4 years ago
12

Sunland Company purchases $50,400 of raw materials on account, and it incurs $61,300 of factory labor costs. Journalize the two

transactions on March 31, assuming the labor costs are not paid until April.
No. Date Account Titles and Explanation Debit Credit
a) Mar. 31

b) 31
Business
1 answer:
lisabon 2012 [21]4 years ago
6 0

Answer:

A. Mar 31

Dr Raw materials $50,400

Cr Account pay $50,400

B. 31

Dr Factory labour $61,300

Cr Factory wages $61,300

Explanation:

Preparation of the Journal entries for Sunland Company

A. Since we were told that the company purchases the amount of $50,400 of raw materials on account this means that the transaction will be recorded as:

Mar 31

Dr Raw materials $50,400

Cr Account pay $50,400

B. Based on the information given we were told that the company incurs the amount of $61,300 of factory labor costs this means that the transaction will be recorded as:

31

Dr Factory labour $61,300

Cr Factory wages $61,300

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Qualcomm has developed a groundbreaking new CPU chip. The patent on the chip will last 17 years. You expect that the chip’s prof
umka21 [38]

Answer:

$50.74 million

Explanation:

Interest rate per annum = 8%

Number of years = 17

Number of compounding per annum = 1

Interest rate per period (r) = 8%/1 = 8%

Number of period (n) =17 * 1 = 17

Growth rate (g) = 5%

First payment (P) = 4 ($'million)

PV of the new Chip = p/(r-g) * [1 - [(1+g)/(1+r)]^n]

PV of the new Chip = 4/(8%-5%) * [1 - [(1+5%)/(1+8%)]^17]

PV of the new Chip = 4/0.03 * [1 - [1.05/1.08]^17]

PV of the new Chip = 4/0.03 * [1 - 0.972222^17]

PV of the new Chip = 133.333 * (1 - 0.6194589804)

PV of the new Chip = 133.333 * 0.3805410196

PV of the new Chip = 50.7386757663268

PV of the new Chip = $50.74 million

4 0
3 years ago
in forward and futures contracts, the risk of non-fulfilment of contract terms is most likely borne by:
topjm [15]

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2 years ago
With ______ advertising on twitter an advertiser can target individuals who used a specific word in their tweets, such as "vacat
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3 years ago
Read 2 more answers
The College of Business is deciding between two photocopier options. The first is to lease a high-end machine for $8,400/year. T
Sedaia [141]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

The first is to lease a high-end machine for $8,400/year.The only additional costs are the cost of paper, which is $0.01/sheet.

The other option is to purchase a machine. The cost is $5,000 and the per sheet cost increases (toner, maintenance) to $0.02.

First, we need to determine the total cost formula for each option:

Option 1:

Total cost= 8,400 + 0.01x

Option 2:

Total cost= 5,000 + 0.02x

A) Volume= 270,000

Option 1:

Total cost= 8,400 + 0.01*270,000= $11,100

Option 2:

Total cost= 5,000 + 0.02*270,000= $10,400

Option 2 is the cheapest.

B) Volume= 240,000

Option 1:

Total cost= 8,400 + 0.01*240,000= $10,800

Option 2:

Total cost= 5,000 + 0.02*240,000= $9,800

Option 2 is the cheapest.

C) To determine the indifference point, we need to isolate X:

8,400 + 0.01x= 5,000 + 0.02x

3,400= 0.01x

340,000=x

The indifference point is 340,000 paper sheets.

5 0
3 years ago
What responsibility, if any, does fishpeople have to the local fishing industry?​
Evgen [1.6K]

Answer:

IN UK

Explanation:

Contents

Rules for access to waters after the UK leaves the EU

Quota allocations and fishing opportunities

North-East Atlantic Fisheries Commission (NEAFC) Convention Area

Regional fisheries management organisations (RFMOs)

Access to ports

EU and non-EU (third country) vessels landing into UK ports

Import and export of fishery products

Exporting UK-caught fish and fishery products to the EU

Importing EU-caught fish and fishery products to the UK

Labelling and marketing of fishery and aquaculture products

European Maritime and Fisheries Fund

Eels and eel products

Rules for access to waters after the UK leaves the EU

When the UK leaves the EU, the government will control and manage access to fish in UK waters. It will be responsible for managing the UK’s:

territorial waters (out to 12 nautical miles)

Exclusive Economic Zone (out to 200 nautical miles or the median line with other states)

The UK government will make sure that fisheries control and enforcement continue.

UK waters

There will be no change to your rights and responsibilities if you have a UK-registered vessel fishing in UK waters. You must continue to comply with the law and the conditions of your licence, including the economic link criteria.

Non-UK-registered vessels will no longer have automatic access to UK waters. This will be subject to any existing agreements covering territorial waters.

EU and non-EU (third country) waters

There will be no automatic access for UK-registered vessels to fish in EU or non-EU (third country) waters. This will be subject to any existing agreements covering territorial waters.

Quota allocations and fishing opportunities

If you’re a UK quota holder, the UK fisheries administrations will tell you what your allocation will be. They aim to do this in October 2019.

The government will also confirm arrangements for:

non-quota shellfish (scallops, edible crabs and spider crabs)

demersal species under the Western Waters effort regime (demersal species live mainly on or near the sea floor)

There will be no automatic access for:

the UK Fisheries Administrations to exchange fishing opportunities with EU member states

EU member states to exchange fishing opportunities with the UK

North-East Atlantic Fisheries Commission (NEAFC) Convention Area

You can prepare for the UK joining the NEAFC. For UK-registered vessels to continue fishing in the convention area, and landing into the EU, you must hold a current UK domestic licence. You’ll need this before you can apply for an international licence from the relevant fisheries authority.

Please contact your local fisheries authority office if you want further guidance on fishing internationally. You’ll also need to register with the NEAFC’s electronic Port State Control system and complete the Port State Control 1 forms.

Regional fisheries management organisations (RFMOs)

The UK will join all relevant RFMOs as quickly as possible - it will no longer be a member of RFMOs through EU membership. The joining process may take up to 6 months.

During this time, UK vessels may not be able to fish in international waters covered by RFMOs. The Department for Environment, Food and Rural Affairs (Defra) will keep fishermen informed of progress and what the outcome of a decision will mean in practice.

Access to ports

If you have a UK-registered vessel, you’ll no longer have an automatic right to land fish in any EU port. You’ll be allowed access to EU designated ports for:

port services

landings

transhipment

the use of market facilities (where vessels meet EU requirements on illegal, unreported and unregulated fishing)

You must notify the relevant Fisheries Monitoring Centre of your intention to arrive into a designated port. You must notify vessel and catch-related information

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3 years ago
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