Answer:
a. Accounts Payable <em>Liability</em>
b. Cash <em>Asset</em>
c. Common Stock <em>Equity</em>
d. Accounts Receivable <em>Asset</em>
e. Rent Expense <em>Equity</em>
f. Service Revenue <em>Equity</em>
g. Office Supplies Asset
h. Dividends <em>Equity</em>
i. Land <em>Assets</em>
j. Salaries Expense <em>Equity</em>
Explanation:
<em><u></u></em>
<em><u>Assets:</u></em>
The assets will be the property, plant and equipemnt owned by the company or the right or claim it has on third party to provide cash in favor of the company (accounts receivables) or services ( prepaid insurance)
<em><u>Liabilities:</u></em>
Will be debt or obligation to do taken from the company in exchange of soemthing
<em><u>Equity:</u></em>
The equity will represent the investment of the owner plus the accumualted earning thus, the revenus and income have impact on equity.
Answer:
300 shares
Explanation:
Based on Family attribution rules the rules often requires that the family attribution should occur between parents, their children and grandchildren, regardless of their age.
But based on the information given in which Panda Company is owned equally by Min, her husband, Bin, her sister Xiao, and her grandson, Han in which each of them hold 100 shares in the company which means Under the family attribution rules we would excludes Min sister Xiao from the shares.
Hence, the shares of Panda stock that Min is deemed to own will be:
Min +husband Bin + her grandson Han =3 individual
100 shares ×3=300 shares
Therefore Under the family attribution rules, 300 shares of Panda stock is what Min is deemed to own
Answer:
Bob's predetermined overhead rate = 9.91
Explanation:
Calculation for predetermined overhead rate
Predetermined overhead rate = Estimated (Budgeted) Overhead Expense / Estimated Direct Labor Hours
Predetermined overhead rate = 110917 / 11198
Predetermined overhead rate = 110.917 / 11.198
Predetermined overhead rate = 9.91
