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3 years ago

The accounts in the ledger of Ivanhoe Delivery Service contain the following balances on July 31, 2022.

Business

1 answer:

Zarrin [17]3 years ago

7 0

Answer:

Ivanhoe Delivery Service

Trial Balance

For the month ended July 31, 2022

debit credit

Cash $12,594

Accounts Receivable $15,000

Prepaid Insurance $3,400

Equipment $59,550

Accounts Payable $10,000

Salaries and Wages Payable $990

Notes Payable (due 2025) $29,650

Common Stock $40,190

Retained Earnings (July 1, 2022) $6,400

Service Revenue $17,300

Maintenance and Repairs Expense $3,758

Salaries and Wages Expense $8,628

Insurance Expense $720

Dividends <u> $880 </u> <u> </u>

Totals $104,530 $104,530

Explanation:

cash = ($40,190 + $6,400 + $29,650 + $990 + $17,300 + $10,000) - ($15,000 + $3,400 + $880 + $59,550 + $3,758 + $8,628 + $720) = $104,530 - $91,936 = $12,594

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Byrd Company decided to analyze certain costs for June of the current year. Units started into production equaled 14,000 and end

Molodets [167]

Answer: Option (C) is correct.

Explanation:

Units Started into the production = 14,000 Units

Ending work in process = 2,000 units

Transferred Units = Units in the starting - Ending work in process

= 14,000 units - 2,000 Units

= 12,000 Units

Equivalent units = Transferred units + Ending work in process in units × % of Completion

= 12,000 Units + 2,000 Units × 25% complete

= 12,000 + 2,000 × 0.25

= 12,000 units + 500 units

= 12,500 units

Total Conversion cost = $52,500

$Conversion\ cost\ per\ Equivalent\ unit=\frac{Total\ Conversion\ cost}{Equivalent\ Units}$

$Conversion\ cost\ per\ Equivalent\ unit=\frac{52,500}{12,500}$

= $4.2

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3 years ago

Heather wants to buy a new tent. she so far has saved $23 and her parents have told her that any remaining money she saves they

brilliants [131]

A $66.50

First take the money she already has from the total.
156-23=133

Then divide this by two. She only needs to save half of this as her parents will match the half she saves.
133÷2=66.5
$66.50

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3 years ago

If your employer offers a retirement plan, don’t participate in it. Don’t bother to set target dates for achieving your financia

CaHeK987 [17]

Answer: Please refer to Explanation

Explanation:

If your employer offers a retirement plan, don’t participate in it. Yes.

Having a retirement plan with your employer especially one in which you are a 100% vested is a drain on your income. It might have benefits in future when you retire but if you want to engage in financial planning, you need to have access to every penny and that includes the money going to the retirement plan.

Don’t bother to set target dates for achieving your financial goals. No

Setting a target date for various amounts in your financial goals enables you to work towards them with more determination. It is important to set target dates.

Pay credit card balances in full each month. Yes

Paying your credit card balance in full every month helps you avoid interest accruing as well as increasing your credit score. It is therefore very important to pay off the balance in full every month which will be easier as long as you charge things to it that you can afford.

Start saving early in life and save throughout your life. Yes.

The more you save the more you have to invest. This is why you should start saving early if you want to engage in financial planning. You need to formulate the determination to save every time. And don't just save for saving's case, save to invest.

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3 years ago

A worker would be hurt least by inflation when the rev: 05_02_2017_QC_CS-84894 Multiple Choice worker anticipates inflation and

Hatshy [7]

Answer:

worker is protected by a cost-of-living adjustment clause in an employment contract

Explanation:

Cost of Living Adjustment(COLA) is an increase made to income from social security to counter the inflationary effects. The COLA change is essentially equivalent to the Consumer Price Index ( CPI) percentage increase over a given period.

All other options are wrong as it is not fit to the current situation

hence, the correct option is B.

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3 years ago

If you receive a ticket to a concert at no charge, what, if anything, is your opportunity cost of attending the concert?

spin [16.1K]

Answer:

The opportunity cost of attending the concert=$0

Explanation:

An opportunity cost is the total monetary loss that one has when they choose a given option. It can also be defined as the gain that one misses when the individual or business chooses one alternative over the other. Opportunity costs are not heavily considered in financial reports, however individuals or businesses who have the opportunity to choose from many alternatives at the same time need to consider the opportunity cost to make a more valuable decision in the long-run. Opportunity costs helps individuals and businesses to make better decisions on the options they have at their disposal.

The opportunity cost can be Determined using the following expression;

OC=FO-CO

where;

OC=opportunity cost

FO=return on best forgone option

CO=return on chosen option

Since in our case, the forgone option was not attending the concert, the cost would be=0

Also since the chosen option was the ticket at no charge, the cost would be=0

In our case;

OC=unknown

FO=0

CO=0

replacing;

OC=0-0=0

The opportunity cost of attending the concert=$0

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3 years ago