Dividend means that a company is how much a company pays of its profits to shareholders or investors.
Answer:
$392,400
Explanation:
The computation of correct balance for ending inventory on December 31 is shown below:-
Correct balance for ending inventory = Ending inventory – Office supplies
= $416,000 - $23,600
= $392,400
Therefore for computing the correct balance for ending inventory we simply deduct the office supplies from ending inventory and ignore all other amounts as they are not relevant.
Answer:
Land 32,500
Explanation:
![\left[\begin{array}{cccc}&fair \: value&percent&accounting\\land&35,000&0.1&32,500\\bulding&105,000&0.3&97,500\\paddleboats&210,000&0.6&195,000\\&350000&&325000\\\\\end{array}\right]](https://tex.z-dn.net/?f=%5Cleft%5B%5Cbegin%7Barray%7D%7Bcccc%7D%26fair%20%5C%3A%20value%26percent%26accounting%5C%5Cland%2635%2C000%260.1%2632%2C500%5C%5Cbulding%26105%2C000%260.3%2697%2C500%5C%5Cpaddleboats%26210%2C000%260.6%26195%2C000%5C%5C%26350000%26%26325000%5C%5C%5C%5C%5Cend%7Barray%7D%5Cright%5D)
We will first calcualte the percent of each component of the real state.
Then we multiply by the total cost paid, which is 325,000
This is the amount we should enter the assets into accounting
Explanation:
The journal entry to close the books is
Cost of Goods sold A/c Dr $1,200
To Manufacturing Overhead A/c $1,200
(Being the under-applied overhead is recorded)
Since the jobs were undercosted, that means the overhead is applied under overhead so we debited the cost of goods sold account and credited the manufacturing overhead account. Both the items are recorded for $1,200
