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3 years ago

Prepare a trial balance from the ledger accounts of Black Diamond Express as of January 31, 2018.

Business

1 answer:

malfutka [58]3 years ago

4 0

Answer:

Black Diamond Express

Trial Balance as at January 31, 2018.

Debit Credit

Accounts Payable $1,100

Rent Expense $500

Accounts Receivable $1,700

Service Revenue $3,000

Cash $1,400

Supplies $200

Common stock $2,000

Salaries and Wages Expense $1,300

Dividends $1,000

Totals $6,100 $6,100

Explanation:

A trial balance is a list of balances (debits and credits) that is prepared from the ledger accounts from which Financial Statements are prepared.

The Trial Balance can be used a check to the correctness of the double entry system.

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LO 6.3A company calculated the predetermined overhead based on an estimated overhead of $70,000, and the activity for the cost d

olya-2409 [2.1K]

Answer:

$68,600

Explanation:

An predetermined overhead of $70,000 was estimated for an activity of 2,500 hours. The actual overhead assigned to the products is given by multiplying the fraction of the total 2,500 hours of activity utilized by the products by the predetermined overhead:

$A = \frac{1,350+1,100}{2,500}*\$70,000\\ A = \$68,600$

The total amount of overhead assigned to the products is $68,600.

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3 years ago

The law of demand states that, other things equal, when the price of a good rises, the quantity demanded of the good rises, and

oksano4ka [1.4K]

The given statement about the law of demand is false and the appropriate law is explained below.

<h3>What is Law of Demand?</h3>

This refers to the economic principle which states that when there is an increase in demand for a product, then the price of the good will decrease.

With this in mind, we can see that the law of demand works with the supply of goods as if for example there is an increase in price for a particular bar of soap, then the demand reduces.

Read more about law of demand here:
brainly.com/question/1078785

5 0

2 years ago

"helen is a u.s. citizen and cpa, who moved to london, england three years ago to work for a british company. this year, she spe

balu736 [363]

Answer:

Exclusion upto $103,900. Taxable amount is $6100.

Explanation:

US natives, just as changeless occupants, are required to document ostracize expense forms with the government consistently paying little mind to where they dwell.

Alongside the common assessment form for money, numerous individuals are likewise required to present an arrival revealing resources which are held in ledgers in remote nations. Notwithstanding where you live, you should record expat imposes in the US.

3 0

3 years ago

A natural monopolya. exists when many sellers experience lower average total costs than potentialcompetitors do.b. exists when a

liq [111]

Answer:

e. exists when a single seller experiences lower average total costs than any potential competitor.

Explanation:

A monopoly is a market structure which is typically characterized by a single-seller who sells a unique product in the market by dominance. This ultimately implies that, it is a market structure wherein the seller has no competitor because he is solely responsible for the sale of unique products without close substitutes. Any individual that deals with the sales of unique products in a monopolistic market is generally referred to as a monopolist.

For example, a public water supply company is an example of a monopoly because they serve as the only source of water provider to the general public in a society.

A natural monopoly exists when a single seller experiences lower average total costs than any potential competitor because of the very high start-up or initial cost and economy of scale.

8 0

3 years ago

Wexpro, Inc., produces several products from processing 1 ton of clypton, a rare mineral. Material and processing costs total $5

beks73 [17]

Answer:

1. What is the financial advantage (disadvantage) of further processing product X15?

financial advantage of further processing X15 = $10,206

2. Should product X15 be processed further or sold at the split-off point?

X15 should be processed further

Explanation:

processing costs for every batch of X15 (6,300 units) = $54,000 x 1/4 = $13,500

production cost per unit $13,500 / 6,300 = $2.14286 = $2.14 per X15

contribution margin per unit without further processing = $17 - $2.14 = $14.86

costs of further processing $8,700, per unit = $8,700 / 6,300 = $1.38

total costs per unit $2.14 + $1.38 = $3.52

contribution margin with further processing = $20 - $3.52 = $16.48

total financial advantage of further processing X15 = ($16.48 - $14.86) x 6,300 = $10,206

3 0

3 years ago