Answer:
D. New powerful corporate involvement is the correct answer.
Explanation:
$29760, overhead would be allocated to a job if it required total labor costing $24,000. Thus, option (a) is correct.
What is labor?
The term “labor” refers to the work involved in the provision of the services. Labor is the exchange of the services of money. Labor is an important part of the economy. Labor is to produce goods and services for the industry.
Determining the overhead:-
A company overhead application rate of 124%.
The total labor costing $24,000.
How much overhead = ?
Total overhead applied would be equal to
=(124% × $24000)
which is equal to
=$29760.
As a result, the overhead of labor are, $29760. Therefore, option (a) is correct.
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Answer:
1,000
Explanation:
Keller's company stockholder account has a common stock of $10 per value
20,000 shares authorized
10,000 shares Issued
9,000 shares outstanding
$100,000 paid in capital in excess of per value.
Common stock of 50,000.
Therefore the number of shares of treasury stock can be calculated as follows
= shares Issued-shares outstanding
= 10,000-9,000
= 1,000
Hence the number of shares of treasury stock is 1,000
Answer:
I. Mortgage companies service more mortgages than they originate.
IV. The government is involved in the residential mortgage markets.
Explanation:
- A mortgage market is one that is for the sales of the securities and the bonds and the values of the mortgage loan and consists of mostly the primary and secondary markets as the banks and financial institutions
- A the secondary are the new source of capital and these mortgages involves the companies to have the rights and may also involve the residential mortgage markets.
Answer:
<em>Incomplete question is "2. What journal entry should Johnson record to recognize bad debt expense for 2021? 3. Assume Johnson made no other adjustment of the allowance for uncollectible accounts during 2021. Determine the amount of accounts receivable written off during 2021 4. If Johnson instead used the direct write-off method, what would bad debt expense be for 2021?"</em>
1. Gross accounts Receivable = Allowance Account balance at beginning / 10%
= $30,000 / 10%
= $300,000
2. Year Account Title Debit Credit
2021 Bad debt expense $105,000
($500,000*10% + $55,000)
To Allowance for Doubtful Accounts $105,000
3. Accounts receivable written off = Beginning balance of Allowance Account - Ending Balance of Allowance account
= $30,000 - (- $50,000)
= $30,000 + $50,000
= $80,000
4. Bad debt expense for 2021 (direct write off method) = Amount written off = $80,000