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3 years ago

6

Rent is $1,258. Phone charges last month were $46.88. Groceries cost about $115/week. What is a good estimate of your monthly ex

penses?
$1,460.00
$1,577.00
$1,807.00
$1,765.00

1 answer:

Papessa [141]3 years ago

6 0

I'd say $1,807.00 (C)

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Before prorating the manufacturing overhead costs at the end of 2020, the Cost of Goods Sold and Finished Goods Inventory accoun

Art [367]

Answer:

the Cost of Goods Sold balance after the proration is $56,140 (none of the suggested solutions)

Explanation:

<em>Step 1 Consider whether there was an Over or Under Application of Overheads.</em>

Applied Manufacturing Overhead $98,400 > Actual Manufacturing Overhead $93,000

Overheads were thus Over-Applied by $5,400

<em>Step 2 Allocate the Over- Application of Overheads to Closing Inventory in proportion to their weightings</em>

Item Total Weight % Allocation

Cost of Goods Sold $59,400 60.37% 3,260

Finished Goods Inventory accounts $39,000 39.63% 2,140

Total $98,400 100.00% 5,400

Balances after allocation :

Cost of Goods Sold = $59,400 - $3,260 = $56,140

<em></em>

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4 years ago

Read 2 more answers

What is the term for malleolus

Basile [38]

Answer:a bony projection with a shape likened to a hammer head, especially each of those on either side of the ankle.

Explanation:a bony projection with a shape likened to a hammer head, especially each of those on either side of the ankle.

7 0

3 years ago

Arnold gave land to his son, Bruce. Arnold's basis in the land was $100,000, and its fair market value at the date of the gift w

Leona [35]

Answer:

A) Bruce's basis in the land at the time of the sale = $100,000 (same as his father's)

B) When computing his realized gain, what amount does Bruce use as the selling price and as the contract price?

Selling price= $360,000.

Contract price = $360,000 (selling price) - $120,000 (assumed mortgage) = $240,000.

C) Bruce's total realized gain on the sale = $360,000 - $10,000(selling costs) - $230,000(land + improvements) = $120,000

But his recognized gain in the year of the sale is = ($120,000 / $240,000) x $90,000 = $45,000

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3 years ago

On January 1, 2017, Marin Company purchased 12% bonds, having a maturity value of $320,000, for $344,260.74. The bonds provide t

kap26 [50]

Answer and Explanation:

The Journal entry is shown below:-

1. Debt Investment Dr, $344,260.74

To Cash $344,260.74

(Being cash paid is recorded)

2. Interest Receivable Dr, $38,400

To Debt Investment $3,973.93

To Interest Revenue $34,426.07

(Being interest received is recorded)

Fair Value Adjustment Dr, $1,713.19 ($342,000 -$340,286.81)

To Unrealized Holding Gain or Loss - Equity $1,713.19

(Being fair value adjustment is recorded)

3. Unrealized Holding Gain or Loss - Equity $7928.68

($335,915.49 - $329,700 + $1,713.19)

To Fair Value Adjustment 7,928.68

(Being unrealized loss or gain is recorded)

Working note

Book value of Interest Interest Amortization Book value

debt beginning Revenue Receivable (d = c - d) of debt

(a) b=(a × 10%) c at the end

($320,000 × 12%) (e - d)

$344,260.74 $34,426.07 $38,400 $3,973.93 $340,286.81

$340,286.81 $34,028.68 $38,400 $4,371.32 $335,915.49

8 0

3 years ago

Renee contracts with Scott to pay him $25,000 for his work on Renee’s new album "Hip Pop." After Scott performs, they sign an ac

Misha Larkins [42]

Answer:

C) the accord or the original obligation.

Explanation:

Based on the scenario being described within the question it can be said that Scott can sue Renee on the accord or the original obligation. This is mainly due to the fact that Renee did not pay the newer arrangement within the three days, and therefore owes Scott the total amount of $25,000 as was agreed by both in the original contract, but since Scott also agreed on the $21,000 he can decide which he would want to sue for.

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3 years ago