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Volgvan
3 years ago
5

On July 1, 2017, Brigham Corporation purchased Young Company by paying $250,000 cash and issuing a $100,000 note payable to Stev

e Young. At July 1, 2017, the balance sheet of Young Company was as follows. Cash $50,000 Accounts payable $200,000 Accounts receivable 90,000 Stockholders’ equity 235,000 Inventory 100,000 $435,000 Land 40,000 Buildings (net) 75,000 Equipment (net) 70,000 Trademarks 10,000 $435,000

Business
1 answer:
vodomira [7]3 years ago
8 0

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

You might be interested in
Sonic Inc. manufactures two models of speakers, Rumble and Thunder. Based on the following production and sales data for June, p
lesya692 [45]

Answer and Explanation:

a. The preparation of the sales budget is prepared below:-

                                            <u>Sonic Inc.</u>

                                          <u>Sales budget</u>

<u>Particulars          </u>Unit  Sales<u>           Unit Selling price     Total Sales </u>

                              <u>Volume</u>

Model Rumble:    

East Region          12,000                 $60                        $720,000

West Region         14,000                 $60                        $840,000

Total                                                                                 $1,560,000

Model Thunder:    

East region             3,500               $90                           $315,000

West region            4,000               $90                           $360,000

Total                                                                                   $675,000

Total revenue from sales                                                  $2,235,000

To reach the total revenue from sales we simply added the total of model rumble with a total of model thunder.

b. The Preparation of the production budget is shown below:-

                                               <u>Sonic Inc.</u>

                                          <u>Production budget</u>

<u>Particulars </u>                    Units Model            Units Model

                                         <u> Rumble</u>                    <u>Thunder </u>

Expected units to be

sold                                       26,000                    7,500

                                     (12,000 + 14,000)      (3,500 + 4,000)

Add: Desired ending

inventory                                500                             250

Total units required               26,500                       7,750

Less: Beginning inventory      750                            300

Total units to be produced    25,750                     7,450

So, to reach at total units to be produced we simply deduct the beginning inventory from total units required.

7 0
3 years ago
:How is a ‘provision for reserve’ in a balance sheet, a liability or an asset. Explain.
Maslowich

Explanation:

A provision is indeed an item freed up from either a company's revenue to cover potential future costs or a probable property price decrease. It shows up as spending on the financial statements and is documented as a current liabilities.

3 0
3 years ago
A six-month moving average forecast is generally better than a three-month moving average forecast if demand: Group of answer ch
Lostsunrise [7]

A six-month moving average forecast is generally better than a three-month moving average forecast if demand: is rather stable.

<h3>What is stable demand?</h3>

This is the type of demands that occurs where by there is no change in the demand over a period of time.

The stable demand is known to have the same shape or remain the same way for a period of time.

Read more on demand here:

brainly.com/question/1245771

#SPJ4

6 0
2 years ago
Explain how the political systems of countries differ. Explain how the economic systems of countries differ. Explain how the leg
KIM [24]
<h2>Every country operate in a different yet similar system of both political and social affairs.</h2>

Explanation:

Every country operate in a different yet similar system of both political and social affairs. In terms of political differences, some countries have parliamentary governments while some countries like the US have presidential governments.

Regardless of how each country operate politically, most of the operational system of these countries are embedded in democracy and the general welfare of its citizens. The differences occur because of these operational systems of each country. They could differ in policies, reforms or laws which are based on the interests of its people and the nation.

In economic terms, the differences occur when governments prioritize what economic policies or model they choose to implement. Economic systems of a country change according to the need of the times. For instance,  China initially, after its independence, chose to remain a closed economy until it reformed its policies in 1978 to finally open up the country.

Legal systems of countries differ from one another as every country use a civil law system based on its cultural, social, political and historical circumstances. For instance, in US each state has the power to establish its own legal procedures while in some country, every state must follow a uniform civil code.

As we know the political economy refers to both the political and economic systems of a country, management practice of national differences is important to taken into account before securing economic relations with another country. Management practice of national differences helps in finding favorable economic and political systems around the world for a country to make both economic and political partnership with.

6 0
3 years ago
"The Marlene Doll Co. uses a process costing system. Consider the following data for Dept. A. UNITS: W-1-P Nov. 1: 8,000 units,
Law Incorporation [45]

Answer:

The Marlene Doll Co.

Weighted-AVerage Method

Cost of production:

COSTS: W-1-P Nov. 1:                    $9,600         $4,800

Costs added in November:           15,600         14,400

Total costs for the month          $25,500       $19,200

Equivalent units of production:

                                       Units   Materials  Conversion

Transferred to Dept B: 12,000     12,000        12,000

W-1-P Nov. 30:               6,000       6,000         3,000

Equivalent units                            18,000        15,000

Cost per equivalent units:

                                            Materials    Conversion

Total costs for the month   $25,500       $19,200

Equivalent units                      18,000         15,000

Cost per equivalent unit       $1.42           $1.28

Costs assigned to:

Units Transferred to Dept B:  $17,040      $15,360              $32,400

                                     (12,000 *$1.42)     (12,000 * $1.28)  

W-1-P Nov. 30:                           8,520           3,840                 12,360

                                     (6,000 *$1.42)     (3,000 * $1.28)

Total costs assigned           $25,560       $19,200              $44,760

 

FIFO Method

Equivalent units of production:

                                                Units   Materials  Conversion

W-1-P Nov. 1:                           8,000      0 (0%)        2,000  (25%)

Units started & completed: 10,000     10,000        10,000

W-1-P Nov. 30:                       6,000      6,000         3,000

Equivalent units                                   16,000        15,000

Cost per equivalent units:

                                            Materials    Conversion

Total costs for the month    $15,600         14,400

Equivalent units                      16,000        15,000

Cost per equivalent unit       $0.975        $0.96

Costs assigned this month to:

Work-in-Process                      $0                 $1,920                $1,920

                                     (0 *$0.975)         (2,000 * $0.96)  

Units completed                      $9,750        $9,600              $19,350

                                     (10,000 *$0.975)   (10,000 * $0.96)  

W-1-P Nov. 30:                           5,850           2,880                 8,730

                                     (6,000 *$0.975)    (3,000 * $0.96)

Total costs assigned            $15,600        $14,400            $30,000

Total costs of:

Units transferred out         $19,350       $16,320         $35,670

W-1-P Nov. 30:                       5,850           2,880              8,730

Total costs                        $25,200       $19,200         $44,400

Explanation:

a) Data and Calculations:

Dept. A. UNITS:

                                        Units   Materials  Conversion

W-1-P Nov. 1:                    8,000      100%           75%

Started in November:   10,000

Transferred to Dept B: 12,000      100%          100%

W-1-P Nov. 30:                6,000      100%           50%

6 0
3 years ago
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