Answer and Explanation:
The journal entry to close the manufacturing overhead account is shown below:
Given that
There is applied overhead of $31,500
And, the budgeted overhead is
= 2,000 × $15
= $30,000
As we can see that the budgeted overhead would be lower than the applied overhead so this is an under applied overhead
Cost of goods sold Dr $1,500 ($31,500 - $30,000)
To factory overhead $1,500
(Being the closing of overhead is recorded)
Answer:
The correct answer is letter (3): Apply for mortgage; Purchase homeowners insurance; Do final walk-through; Sign closing documents.
Explanation:
The home closing process starts as soon as the buyer signs the contract with a real estate agent. In such a case, the buyer has had to apply and be accepted for a <em>mortgage </em>to cover the expenses of the property. Lenders require buyers to present <em>homeowners' insurance</em> which apart from being a requirement is important for the buyer and the financing entity.
Then, buyers must do a <em>final walk-through</em> of the home before they take possession of it to make sure it is in the conditions sellers offered. Finally, <em>additional documents </em>are signed such as a homestead declaration that registers the property with the federal and state government.
Answer:
A) privately held corporation.
Explanation:
In the given example, the most appropriate option is a privately held corporation as the stock is owned by the 13 principles. It is not offered to anyone other than these 13 principles, which means they do not offered to the public at large.
It is different from the publicly held corporation as the shares or the stock of the business organization are offered to the general public. But in this case, it offered to only 13 principles
Hence, other options are wrong except A
Answer:
(A). People may expect earnings to fall in the future, perhaps because the firm will be faced with increased competition.
Explanation:
Price Earnings ratio of a company represents market price per share of a company's stock in relation to it's earnings per share.
Price Earnings ratio(PER) is given by the following formula:
PER =
A lower P/E Ratio indicates that a company's market price of a share is lower relative to it's earnings. This means the company's stock is undervalued.
It can also mean that the company's earnings have increased which in turn has increased it's earnings per share.
Investors in general expect lower earnings in future for the stock of a company with low P/E Ratio.
Based on the gambling winnings, the unemployment compensation, and the net royalties, George's total income for the current tax year is $60,000.
<h3>What is the total income to George for the year?</h3>
There are some income that will not be accounted for as George's income for the year as they are not taxable. These include the life insurance policy payout, the gambling losses and the contribution to the IRA.
George's income for the year is therefore:
= Gambling winnings + Unemployment compensation + Royalties
= 45,000 + 5,000 + 10,000
= $60,000
In conclusion, George's total income is $60,000.
Find out more on unemployment compensation at brainly.com/question/17049367.
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