Answer:
the net income reported by Waterway Industries for the year was $299,000
Explanation:
The computation of the net income reported is as follows:
As we know that
Net income = Revenue - expenses
= $626,000 - $327,000
= $299,000
hence, the net income reported by Waterway Industries for the year was $299,000
The same should be considered
Answer:
Explanation:
Preparation of the retained statement of earnings for the year ended 31 December 2018 is discussed below:
Spahr, Inc.
Retained Earning statement
For the year ended December 31, 2018
Beginning retained earning balance $125,000
Add: Net income earned $90,000
Less: Cash Dividend paid -$65,000
Ending retained earning balance $150,000
Answer: $1,035,000
Explanation:
In recording the cost of the long term bond, we record only the amount we paid to get it and not the interest we paid on it.
In this case we Kern Company paid for the bonds at 102 of par (par is 100) AND paid brokerage fees as well.
This means that the cost to be recorded is,
= 1,000,000 * (102/100) + 15,000 ( brokerage fee)
= $1,035,000
The amount to record as the cost of this long-term investment in bonds is $1,035,000
Answer:
Correct option is (c)
Explanation:
In international market contract manufacturing is when one firm manufactures goods under another firm's label or brand. Under this type of manufacturing, a company seeks another company in a different country to manufacture goods for it. This is done as the it could be costly to manufacture goods in home country in terms of human resources and raw materials.
So, contract manufacturing, also called international outsourcing or international sub-contracting is a cost-effective way of manufacturing goods.