Answer:
15%
Explanation:
The maximum rate of return that would be paid to borrow an additional $4,000 needed can be calculated as
Rate of return = $600/$4000
Rate of return = 0.15 or 15%
NOTE: The amount of interest is the difference of interest earned at higher yield and interest earned at a lower yield.
Interest earned (higher yield) = $10,000 x 8%
Interest earned (higher yield) = $800
Interest earned (lower yield) = $14,000 x 10%
Interest earned (lower yield) = $1,400
Difference = $1,400-$800
Difference = $600
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Answer:
a.
Cash $1000 Dr
Common stock $1000 Cr
b.
Purchases $500 Dr
Cash $500 Cr
c.
Accounts Receivable $2000 Dr
Sales Revenue $2000 Cr
d.
Cost of Goods Sold $500 Dr
Inventory Account $500 Cr
e.
Cash $2000 Dr
Accounts Receivable $2000 Cr
Explanation:
a.
The cash received as a result of issuing shares is debited as cash is increasing while as the capital is increasing so common stock is credited.
b.
The inventory is purchased for cash so cash is credited and purchases are debited.
c.
The sale of inventory on credit means a debit to the accounts receivable account for the amount of sale and a credit to sales revenue.
d.
When inventory is purchased, we debit the purchases account and credit either cash or accounts payable.
Later on, we transfer the purchases to the inventory amount as it is purchased for the intention of sale. Thus, we credit the purchases account and debit the inventory account.
When a sale is made, we debit the cost of goods sold by the amount of inventory sold and credit the inventory account.
e.
Cash is received so it will be debit and accounts receivable be credited.
Answer:
67,600 tons
Explanation:
Weighted average costing adds the value of beginning inventory in the period cost to calculate the average cost per unit.
According to this method the equivalent units formula is as follow
Equivalent Units = Unit completed and transferred to Finished goods + Units in Work in Process x Completion percentage
Conversion
Equivalent Units = 55,000 + 18,000 x 70% = 67,600 units
