Answer:
The net worth is $92,500
Explanation:
In this question, we apply the accounting equation which is shown below:
Total assets = Total liabilities + shareholder's equity
$108,800 = $16,300 + shareholder's equity
So, the shareholder equity or net worth equal to
= $108,800 - $16,300
= $92,500
These are the items of the balance sheet. By using the accounting equation, the total debit and the total credit side of the balance sheet items should always be balanced and equal.
Answer:
Allocated MOH= $240
Explanation:
<u>To calculate the predetermined manufacturing overhead rate we need to use the following formula:</u>
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= (3,648,000 + 960,000) / 96,000
Predetermined manufacturing overhead rate= $48 per direct labor hour
<u>Now, we can allocate overhead:</u>
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 48*5
Allocated MOH= $240
<span>Read and follow all health and safety postings;Follow safe work practices;Help reduce work hazards;Report all occupational injuries and illnesses;Report hazardous conditions;Cooperate during an OSHA inspection; and<span>Exercise rights under the OSH Act in a responsible manner.</span></span>
Answer:
$117,600
Explanation:
Boxes of Frosted Flakes ×Estimate of Box Tops to be redeemed
1,344,000×60%= 806,000
806,000- 630,000 (Box Tops redeemed) =176,400
Estimate of Box Tops left to be received /Number of Box Tops Needed per bowl
176,400/3= 58,800 Total bowls estimated to be sent to customers in future
58,800 x 2.00 (The Cost of bowls to company was $3 while the cash to be received from customer was $1)
= $117,600 Which will be the total premium liability to be recorded.
