Elite Electronics, Incorporated
JOURNAL ENTRY :
Aug 31
Dr Allowance for Doubtful Accounts a/c 300
Cr Account Receivable. a/c 300
( To record write off Account Receivable)
Dec 15
Dr Account Receivable a/c 300
Cr Allowance for Doubtful Accounts 300
( To record reinstate the accounts receivable)
Dec 15
DR Cash a/c 300
CR Account Receivable a/c 300
( To record Payment received)
Answer:
<em><u>Crop rotation gives various benefits to the soil. ... Crop rotation is one component of polyculture. Shifting cultivation is an agricultural system in which plots of land are cultivated temporarily, then abandoned and allowed to revert to their natural vegetation while the cultivator moves on to another </u></em><em><u>plot</u></em>
<em><u>(</u></em><em><u>I </u></em><em><u>think,</u></em><em><u> </u></em><em><u>I'm </u></em><em><u>not </u></em><em><u>sure)</u></em><em><u> </u></em><em><u>¯\_(ツ)_/¯</u></em>
<span>strawberry growers following an unexpected frost</span>
Answer:
1. Job A256 20
Job A258 160
2.$3,760
3.$10,400
Explanation:
Calculation of cost per unit Job A256 =
Beginning balance 1200
Charged to the jobs during October:
Direct material 3600
Direct labor 800
Manufacturing overhead applied 1200
Total 6800
6800/Units completed 100
=68
Calculation of Cost per unit Job A258
Beginning balance $0
Charged to the jobs during October:
Direct material 1400
Direct labor 600
Manufacturing overhead applied 900
Total 2900
2900/Unit completed 200
=15
1.
Cost of goods sold
= (80 X $68) + (40 X $15) - $800
=5440+600-800
=6040-800
= $5,240
Finished goods JobA256
= 100- 80
= 20
Finished goods JobA258
=200 - 40
= 160
2.
Finished goods
= (20 X $68) + (160 X $15)
= $1,360+$2,400
=$3,760
3.
Calaculation of total value of work in process Cost of JobA257 and JobA260
Job A257
Beginning balance 500
Charged to the jobs during October:
Direct material 3500
Direct labor 1000
Manufacturing overhead applied 900
Total 5900
JobA260
Beginning balance $0
Charged to the jobs during October:
Direct materials $3,500
Direct labor 400
Manufacturing overhead applied 600
Total $4,500
Addition of the total of both JobA257 and JobA260
$5900 +$4,500=$10,400
Answer:
The project's expected rate of return is 8.3%
Explanation:
The following question would be solved using the CAPM (Capital Asset Pricing Module) formulae, which is calculated as follows:
Ra = Rrf + [Ba x (Rm - Rrf)}
Where:
Ra = Project's Expected rate of return
Rrf = Risk-free rate
Ba = Beta
Rm = Expected return of the market
Note: We have been provided with risk premium which is calculated by deducting Risk-free rate from Expected return of the market (Rm - Rrf = Risk premium).
Ra = 2.9% + [0.83 x 6.5%]
Ra = 2.9% + 5.4% (rounded off from 5.395%)
Ra = 8.3%