Explanation:
the rotation the action of rotating an around axis center
Answer:
Explanation:
Bank reconciliation
Chesner Co.
July 31,2016
Cash balance according to bank statement $20,300
Adjustments:
Add:Deposit in transit on July 31 7200
Less:Outstanding checks -3585
Adjusted balance as per bank $23,915
Cash balance according to company’s records 11,100
Adjustments:
Add:Note for $12,000 collected by bank, including interest 12,480
Less:Bank service Charges -25
Add:Error in recording Check No. 1056 as $950 instead of $590 360
Adjusted balance as per Books 23,915
B. $23,915 should be reported to cash
According to these figures, Oak has more equivalent units of production for materials and fewer equivalent units of production for conversion costs than Maple.
Explanation:
The equivalent production unit is an indication of a manufacturer's work on the produced units, which are partially finished at the close of the accounting period. In addition the completely loaded units and the partially filled units are entirely fitted out.
The number of partially completed units x percentage of completion = equivalent units of production.
Oak : 58,000 x 65% = 37,700
Oak Equivalent units of production = 37,700
Maple: 61,200 x 60% = 36,600
Maple Equivalent units of production = 36,600
So, Oak has more equivalent units of production for materials and fewer equivalent units of production for conversion costs than Maple.
Answer:
Intangibles = $1150,000 and Down Home Foods will record Goodwill equal to $575,000
Explanation:
A) Value on Intangible assets (Goodwill+Patent) = Total Assets - Tangible Assets
=$7,500,000 - $6,350,000 = $1150,000
Intangibles = $1150,000
B) Down Home Foods will record Goodwill in its books.
Value of Goodwill = Purchase Consideration - (Total Tangible Assets + Market Value of Patents)
= $7,500,000 - ($6,350,000+$575,000) = $575000
Down Home Foods will record Goodwill equal to $575,000
Answer:
The journal entry is as follows:
Cash A/c Dr. $51.45
To Paid in capital in excess of par value A/c $51.42
To Common shares A/c $0.03
(To record the sale of the shares)
Note: The amount mentioned in debit and credit column in the above journal entry are in the millions of dollar.
Workings:
Cash = Shares sold × shares closing price
= $3 million × $17.15
= $51.45 million
Common shares = Shares sold × Par value per share
= $3 million × $0.01
= $0.03 million
Paid in capital in excess of par value = Cash - Common shares
= $51.45 - $0.03
= $51.42
