Answer:
Allocated MOH= $420
Explanation:
<u>First, we need to calculate the predetermined overhead rate:</u>
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= (253,600/31,700) + 6
Predetermined manufacturing overhead rate= $14 per machine hour
<u>Now, we can allocate overhead to Job L716:</u>
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 14*30
Allocated MOH= $420
Because they are always converted to an income summary throughout the closing process, revenue and expense accounts are known as nominal accounts.
so the statement is false
Revenue Definition:
Revenue in financial accounting refers to an inflow of funds, typically from sales or services provided by commercial activity. It is also known as sales or business turnover. In other terms, revenue refers to the amount of money that a company or organization receives. For instance, certain businesses may receive income from royalties, interest, or copyright fees. While for some businesses, money may come from the services they provide to clients. Donations from groups, corporations, and people are referred to as revenue for non-profit organizations.
Operating Revenue Examples:
- Sales.
- Fees or Commission Earned.
- Service Revenues.
Expenses Definition:
A money outflow is known as an expense or expenditure in financial accounting. As an illustration, a tenant's expenses can include rent. Parents' expenses could include the cost of their children's tuition. Expenses for a business include things like electricity bills, bank fees, sales expenses, phone bills, repairs, and services.
List of expenses in accounts frequently observed when preparing financial statements:
- Cost of goods sold.
- Legal fees.
- Depreciation.
Learn more about Revenue and expense accounts here
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Answer:
Explanation:
1.Amount to be paid Annually to fell leasing Company = $10,000.
Incremental rate of borrowing = 11%
Lease Period = 5 yrs.
2. Value of lease equipment as on 1st October 2017 i.e., date of lease.
= 10,000 * (PVOA) = (11* for 5 years)
=10,000 * 3.6959 (using -PVAF table)
= $ 36,959
Factors are used according to the table of PVAF
3.Lease liability as on 31-12-2017
= 10,000 * PVAD (11 * 4 years) [since 4 years in these)
= 10,000 * 3.44371
= $ 34,437.10
Lease liability as on 31st Dec 2018
= 10,000 * PVAD (11% 3 years) (still 3 yrs left as on 31-12 -2018)
= 10,000 * 2.71252 = $ 27,125.20
Answer:
For a better valuation of trade.
Explanation:
Mackay could have left out this list and simply said that the root cost 2500 florins. But he gave the list to have a better understanding of the valuation of trade. Now, the cost could have simply being layed out. But then this list helped helped to give a better perspective of the valuation of the bulb and also how it could be used to replace money
Answer:
Card Verification Number
Explanation:
The card verification number is the additional code printed on the back of the debit or credit card. On most cards it is the last three digits printed on the signature strip located on the back of the card. On American Express (AMEX) cards, this is usually a four-digit code on the front of the card. Since this number is not embossed (like the card number), it is not printed on receipts, so it is unlikely that anyone, In addition to the actual cardholder, know him.
