Answer:
1. Cash in hand and at bank balance
2. Is there land and buildings available
3. Are there any accumulated debt owed by the church
4. Collections or record of church document.
Explanation:
1. Cash in hand and at bank balance. This an example of a current asset. The first question is how much does the church have as cash and bank balance. The reason is to ascertain whether the fund will be sufficient for the new building project.
2. Land and Buildings availability. This is a fixed asset. The board would enquire whether there is an already existing building or land with which to begin the building project.
3. Debt or loan owed by the church. Loan forms part of liability in a balance sheet. Another question to be asked is whether the church is indebted to a bank or financial institution. This will determine whether or not to continue with the building project.
4. Record of church document. Does the church have any existing document with which to support the new building? This is pertinent as to begin or abandon the plan to build a new church.
Answer:
Mixing= $112,000
Bottling= $91,800
Explanation:
Giving the following information:
Mixing occupies 23,045 square feet
Bottling occupies 18,855 square feet.
Total sq= 41,900
Indirect factory costs include maintenance costs of $204,000.
First, we need to calculate the proportion of square feet for each department:
Mixing= 23,045/41,900= 0.55
Bottling= 18,855/41,900= 0.45
Now, we can allocate overhead:
Mixing= 0.55*204,000= $112,000
Bottling= 0.45*204,000= $91,800
Answer & Explanation:
Most balance sheets are arranged according to this equation:
Assets = Liabilities + Shareholders’ Equity
The equation above includes three broad buckets, or categories, of value which must be accounted for:
1. Assets
An asset is anything a company owns which holds some amount of quantifiable value, meaning that it could be liquidated and turned to cash. They are the goods and resources owned by the company.
Assets can be further broken down into current assets and noncurrent assets.
- Current assets are typically what a company expects to convert into cash within a year’s time, such as cash and cash equivalents, prepaid expenses, inventory, marketable securities, and accounts receivable.
- Noncurrent assets are long-term investments that a company does not expect to convert into cash in the short term, such as land, equipment, patents, trademarks, and intellectual property.
2. Liabilities
A liability is anything a company or organization owes to a debtor. This may refer to payroll expenses, rent and utility payments, debt payments, money owed to suppliers, taxes, or bonds payable.
As with assets, liabilities can be classified as either current liabilities or noncurrent liabilities.
- Current liabilities are typically those due within one year, which may include accounts payable and other accrued expenses.
- Noncurrent liabilities are typically those that a company doesn’t expect to repay within one year. They are usually long-term obligations, such as leases, bonds payable, or loans.
3. Shareholders’ Equity
Shareholders’ equity refers generally to the net worth of a company, and reflects the amount of money that would be left over if all assets were sold and liabilities paid. Shareholders’ equity belongs to the shareholders, whether they be private or public owners.
Just as assets must equal liabilities plus shareholders’ equity, shareholders’ equity can be depicted by this equation:
Shareholders’ Equity = Assets - Liabilities
— Courtesy of Harvard Business School
I hope this helped! :)
Answer:
Results are below.
Explanation:
<u>To calculate the predetermined overhead rate, we need to use the following formula on each department:</u>
<u></u>
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
<u>Department D:</u>
Predetermined manufacturing overhead rate= 1,197,000 / 1,496,250
Predetermined manufacturing overhead rate= $0.8 per direct labor dollar
<u>Department E:</u>
Predetermined manufacturing overhead rate= 1,500,000 / 125,000
Predetermined manufacturing overhead rate= $12 per direct labor hour
<u>Department K:</u>
Predetermined manufacturing overhead rate= 720,000 / 120,000
Predetermined manufacturing overhead rate= $6 per machine hour
Answer: $66.67
Explanation:
The value of a Preferred Stock is calculated with the following formula,
Value of the preferred stock = Annual Dividend/rate of return
The Annual Dividend is 8% of the face value so,
= 0.08 * $100
= $8
Therefore the Value of the Stock is,
= 8/0.12
= $66.67
