A credit report is a detailed report of an individual's credit history.
Answer:
A higher operating income will result under absorption costing
Explanation:
If manufacturing production exceeds units sold there will be an increase in inventory and increases in inventory cause income to be higher under absorption costing than under variable costing.
Under variable costing, as its name suggests, only variable production costs are assigned to inventory and cost of goods sold.
Under absorption costing, normal manufacturing costs are considered product costs and included in inventory.
<em>Recognize that a reduction in inventory during a period will cause the opposite effect. </em>
<em>Specifically, a portion of the contents of the beginning inventory would be transferred to expense commensurate with the decrease in inventory. </em>
<em>Since the inventory contains less under variable costing, expect expenses to be lower and income to be higher.</em>
Answer:
$2.50
Explanation:
Given that,
Dividend Paying out under a policy = 45% of its income
Net income = $1,250,000
Number of shares outstanding = 225,000
Total dividends:
= 45% of its income
= $ 1,250,000 × 45%
= $562,500
Dividend per share:
= Total dividends ÷ Number of shares outstanding
= $562,500 ÷ 225,000
= $2.50
Answer: Insurance agent who represents only one insurance company.
Explanation:
A captive agent is an insurance agent that works for a lone insurance company, either as full time or per time. They are paid their salary and commission or just commission depending on the contract agreed between employer and employee.
They can't do more than one insurance job at a time.
Answer:
cash 35,000 debit
service revenue 35,000 credit
supplies 6,000 debit
accounts payable 6,000 credit
supplies expense 4,200 debit
suplies 4,200 credit
b)
service revenue 35,000
supplies expense (4,200)
income 30,800
cash flow:
35,000 generated from operating activities
balance sheet:
cash 35,000
supplies 1,800
total assets 36,800
liaiblities 6,000 A/P
equity 30,800
c) supplies account: 1,800
6,000 - 4,200 = <em>1,800 It matches the inventory at hand as accounting represent reality</em>
<em>d) supplies expense: 0</em>
<em>expenses and revenue are temporary account are closed at year-end</em>
Explanation:
a)
year-end adjustment for the consumption of supplies:
6,000 - 1,800 = 4,200
