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uysha [10]
3 years ago
12

Spafford Services, Inc. provides services to clients. On May 1, a client prepaid Spafford Services $71,000 for 6-months services

in advance. Spafford Services' general journal entry to record this transaction will include a _________
Business
1 answer:
Leokris [45]3 years ago
8 0

Answer:

Services provided by Spafford to the clients.

On May 1,

A client prepaid Spafford Services $71,000 for 6-months services in advance.

The Journal entry is as follows:

Cash A/c …………………………………………Dr.   $71,000

                To Unearned Management Fees A/c     $71,000

(To record the services provided to client in advance)

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At the beginning of the current year, Bard Corporation had 400,000 shares of $1 par common stock outstanding and had retained ea
sveta [45]

Answer:

b. $14,660,000

Explanation:

The computation of retained earnings at the end of the year is shown below:-

Retained earnings = Beginning retained earning + Net income - Stock dividend - Cash dividend

= $11,000,000 + $5,000,000 + $500,000 - $840,000

= $14,660,000

Working Note :-

Stock Dividend = 400,000 × 5% × $25

= $500,000

Cash dividend = (400,000 + (400,000 × 5%) × $2

= 420,000 × $2

= $840,000

5 0
3 years ago
A common bracket can be purchased in large quantities for $0.67. The company can make the bracket at a variable cost of $0.41 by
Dominik [7]

Answer:

we recommnend to buy this bracket

Explanation:

The computation is shown below:

Given tyhat

Buying cost of the machine = $33,000 = x

x_1 = $0.67

And, x_2 = $0.41

Now the break even point is

X = x ÷ (x_1 - x_2)

= $33,000 ÷ ($0.67 - $0.41)

= 126,923 units

Therefore

Probability  (Demand > Break even point)

= 1 - \phi ($126,923 - 100,000) ÷ 10,000

= 1 - \phi (2.69)

= 0.36%

where

\phi = function of cumulative distribution of N (0,1)

Therefore the probability is that it makes economically the items would be lesser

Thus, we recommnend to buy this bracket

6 0
3 years ago
If there are important external benefits associated with the consumption of a product:_______.
pentagon [3]

Answer:

C. the market demand curve understates the relative importance of the product and resources are therefore underallocated to its production.

Explanation:

Positive external benefits refer to third party positive side effects, above & beyond private marginal benefit to the concerned consumer.

Eg : Education - Its consumption not only affects the concerned person, but the positive trickle down to the people & society around.

Personal consumption decisions are based on : equalisation - of private marginal benefit (demand) curve & private marginal cost curve. However, goods having positive external benefits have real marginal benefit curve increased over private benefit curve, by the extent of extra marginal social benefit.

So, market demand (based on private marginal benefit) curve understates the importance of product, and resources are therefore underallocated to its production (due to undervaluation of demand).

4 0
2 years ago
ou believe that you can earn 2% more on your portfolio if you engage in full-time stock research. However, the additional tradin
oksian1 [2.3K]

Answer:

C. $12,000

Explanation:

additional earnigns for active management:

800,000 x 0.02% = 16,000

<em><u>expected  </u></em>active management cost:

800,000 x 0.5% = 4,000

net gain: 12,000

At most, we can spend 12,000 dollars.

Up to this point, the expense are cover by the additional return. bove this threshold the fund will incur in losses from the active management

8 0
3 years ago
BE22-4 Gundy Company expects to produce 1,200,000 units of Product XX in 2017. Monthly production is expected to range from 80,0
anzhelika [568]

Answer:

\left[\begin{array}{cccc}Range&80,000&100,000&120,000\\ Materials&400,000&500,000&600,000\\ Labor&480,000&600,000&720,000 \\ Overhead&640,000&800,000&960,000 \\ Variable&1,600,000&2,000,000&2,400,000 \\ Depreciation&200,000&200,000&200,000 \\ Supervision&100,000&100,000&100,000 \\ Fixed&300,000&300,000&300,000\\ Total&1,960,000&2,300,000&2,700,000\\\end{array}\right]

Explanation:

We multiply the variable component for each relevant range.

Then for the fixed cost, we post the total.

Notice it is given for 1,200,000 units

so total depreciation 1,200,000 x 2 = 2,400,000 = 200,000 per month

Supervisor  1,200,000 x 1 = 1,200,000 = 100,000 per month

5 0
3 years ago
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