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Rasek [7]
3 years ago
7

Madison Company's perpetual inventory records indicate that $875,300 of merchandise should be on hand on October 31. The physica

l inventory indicates that $781,900 is actually on hand. Journalize the adjusting entry for the i nventory shrinkage for Madison Company for the year ended October 31.
Business
1 answer:
Trava [24]3 years ago
4 0

Answer:

Madison Company's Journal entry

Dec. 31

Dr Cost of Merchandise Sold 93,400

($875,300-$781,900)

Cr Merchandise Inventory 93,400

Explanation:

If the perpetual inventory records $875,300 of merchandise while the physical inventory indicates $781,900 which means we have to deduct $781,900 from $875,300 which made us to arrived at $93,400 as Debited Cost of Merchandise Sold and as Credited Merchandise Inventory .

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You are the financial manager of the Crossrail 1 project in London. The Board overseeing the project, acting on behalf of the UK
-BARSIC- [3]

Crossrail 1 project is about to start in London.

This project will require an initial investment of 9.4 billion. The project will start earning cash flows from year  and it will continue to year 60 which is useful life of the project.

The NPV for the project will be 7.36 which is positive. The correct answer is c.

The payback period for project is 13.04 years which is given in the option a so correct answer is a.

The internal rate of return for the project is b. 7.35 .

Based on our analytics and calculation since NPV is positive so cross rail project is beneficial. The board should consider launching this project.

Learn more at  brainly.com/question/24353321

8 0
3 years ago
Voluntary exchanges happen when both parties expect to
zimovet [89]
Voluntary exchanges happen when both parties expect to receive a gift that is better than the gift they already gave to somebody.


If your in K12, the answer is gain.


5 0
3 years ago
Andrea Apple opened Apple Photography on January 1 of the current year. During January, the following transactions occurred and
Tamiku [17]

Answer: D. $40,175

Explanation:

The balance in the Capital account reported on the Statement of Owner's Equity will include the Capital contributions of Andrea Apple to the business as well as the Net income from operations also known as Retained Earnings.

The Net Income for the month will be revenue less expenses.

Revenue

$5,700 cash and $2,750 on account for services provided in January.

Revenue is therefore,

= 5,700 + 2,750

= $8,450

Expenses

Expenses include the rent paid of $1,500 and the $275 paid for January Utilities.

= 1,500 + 275

= $1,775

Net Income = Revenue - Expenses

Net Income = 8,450 - 1,775

Net Income = $6,675

The Capital that Mr. Apple brought into the business refers to anything he contributed to the business whether in cash or otherwise.

The Capital therefore is,

- The $13,500 cash and the $20,000 worth of equipment.

The Capital Mr. Apple brought into the business is therefore,

= 13,500 + 20,000

= $33,500

The balance on the capital account will therefore be,

= Capital + Net Income

= 33,500 + 6,675

= $40,175

Option D. is correct.

3 0
3 years ago
Ritchie Manufacturing Company makes a product that it sells for $200 per unit. The company incurs variable manufacturing costs o
NARA [144]

Answer :

Break even units = 10,500

Break even amount = $2,100,000

Explanation :

As per the data given in the question,

a) Break even units = Fixed expense ÷ CM per unit b ÷ (a - c)

= ($466,000 + $269,000) ÷ ($200 - $110 - $20)

= 10,500 units

b) Break even amount = b ÷ (a ÷ c)

= ($466,000 + $269,000) ÷ ($70 ÷ $200)

= $2,100,000

Contribution margin ratio = Contribution margin ÷ Selling price per unit × 100

where,

Contribution margin = Selling price per unit - variable expenses per unit

c) CM per unit Break even units = Fixed expense ÷ Cm per unit

= $735,000 ÷ $70

= 10,500 units

Break even dollars = Fixed expense ÷ Contribution margin ratio

= $735,000 ÷ 0.35

= $2,100,000

d) Contribution margin income statement:

Sales = 10,500 × $200 = $2,100,000

Less Variable expenses 10,500 × ($110+$20) = $1,365,000

Contribution margin $735,000

Less Fixed Expense $735,000

Net Operating Income = $0

6 0
3 years ago
The accountants at Global Finances can take work home for as many days as they like as long as their spreadsheets are up to date
lorasvet [3.4K]

Answer:

Telecommuting.

Explanation:

This is a flexible work pattern in which employees are allowed to carry out their tasks from  homes or other various locations outside the principal office .

It does not mean a total cut off from the office as occasional appearance and constant communication is required .

It has its advantages in improved moral , retaining best hands , increased productivity and cost savings.

The disadvantages include lack of supervision ,isolation and in - effective use of work hours

8 0
3 years ago
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