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3 years ago

13

Chutney Channel is a small organization based in Canada that sells specialty condiments made from local ingredients to a wide ar

ray of customers around the global. Chutney Channel would be characterized as a(n) __________ organization.

1 answer:

alex41 [277]3 years ago

5 0

Answer:

he

Explanation:

I

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National Park Tours Co. is a travel agency.

Xelga [282]

Answer: The answer is provided below

Explanation:

a. The unadjusted trial balance has been attached.

b. The net income is calculated as sales minus the expenses. Regarding the question, after the trial balance has been prepared, the net income is the value of the company's operating expenses which is then subtracted from the fees that the company earned. Therefore, the net income will be:= 12300-6940 = 5360

3 0

4 years ago

On May 3, 2020, Concord Company consigned 80 freezers, costing $540 each, to Remmers Company. The cost of shipping the freezers

NeX [460]

Answer:

a) $22,010

b) $3,780

c) $25,790

Explanation:

a) In calculating the value of inventory still left, the total value needs to be calculated first,

= (80 freezers * $540) + $820 ( transport fees)

= 43,200 + 820

= $44,020

40 out of 80 freezers have not been sold so,

= 40/80 * 44,020

= $22,010

b) In calculating the profit, subtract the expenses from the sales

Sales = 40 * 700

= $28,000

= 28,000 - Cost of refrigerators - commission of 6% of sales - advertising - installation

= 28,000 - 22,010 - (28,000*0.06) - 180 - 350

= $3,780

c) The amount remitted by the consignor will be,

= Sales - commission - advertising - installation

= 28,000 - (28,000 * 0.06) - 180 - 350

= $25,790

7 0

3 years ago

Tidwell Industries has the following overhead costs and cost drivers. Direct labor hours are estimated at 100,000 for the year.A

cluponka [151]

Answer:

Option (c) is correct.

Explanation:

Given that,

Cost of ordering = $145,000

Cost of machine setup = $319,500

Cost of machining = $1,575,000

Cost of assembly = $1,250,000

Cost of inspection = $325,000

Total estimated overhead:

= Cost of ordering + Cost of machine setup + Cost of machining + Cost of assembly + Cost of inspection

= $145,000 + $319,500 + $1,575,000 + 1,250,000 + 325,000

= $3,614,500

Predetermined overhead rate:

= Total estimated overhead ÷ Estimated direct labor hours

= $3,614,500 ÷ 100,000 hours

= $36.14

8 0

3 years ago

On October 1, 2020, Wenn Company purchased 800 of the $1,000 face value, 8% bonds of Loy, Inc., for $936,000, including accrued

NemiM [27]

Answer:

d. $896,000.

Explanation:

The computation of the carrying value of the bond is shown below:

The amount after excluding the interest part is

= $936,000 - $16,000

= $920,000

The premium amount is

= $920,000 - 800 × $1,000

= $920,000 - $800,000

= $120,000

Now the premium amortizaton is

= $120,000 × 15 ÷ 75

= $24,000

So, the carrying value is

= $920,000 - $24,000

= $896,000

hence, the correct option is d. $896,000

5 0

3 years ago

Suppose you sell a fixed asset for $115,000 when it's book value is $135,000. If your company's marginal tax rate is 39%, what w

Lena [83]

Answer:

$122,800

Explanation:

For computing the after-tax cash flow, first we have to determine the loss on sale a fixed asset which is shown below:

Loss on sale of the fixed asset would be

= Selling Price - Book Value

= $115,000 - $135,000

= -$20,000

And the tax rate is 39%

So the tax credit would be

= $20,000 × 39%

= $7,800

Now the after-tax cash flow of this sale would be

= Sale price + tax credit

= $115,000 + $7,800

= $122,800

4 0

4 years ago