Answer:
The question is not complete as the before information is missing:
Journalize the transactions and the closing entry for net income.
The journal showing the necessary entries in respect of share transactions that took place in the year as well as closing entry for net income are found in the attached spreadsheet.
Explanation:
Note that in determining the par value of the 5700 shares of treasury stock issued on the 14th April, reference is made to total par value of $52500 as well as total number of shares of 10500
Llloyd is a "Telecommuter". With the rise of the internet, the ability to perform the same or similar work responsibilities from home or a remote location (not at a traditional work or office setting) has greatly increased. This activity is also known as "Telecommuting," "E-commuting" and "working from home".
Answer:
$84,121.21
Explanation:
For computing the value, first we have to determine the PMT which is shown below:
= Payment ÷ interest rate
= $6,400 ÷ 5.3%
= $120,754.7170
Now the value at year 7 would be
= PMT ÷ (1 + interest rate)^number of years
= $120,754.7170 ÷ (1 + 5.3%)^7
= $120,754.7170 ÷ 1.4354848003
= $84,121.21
So, the value at date is $84,121.21
Answer: Advertising helps expand the market of the company to have more people to know about the product
Explanation:
Proposal for advertising; My firm, xyz cooperation would love to handle the publicizing aspect of your product while you go ahead your business. We have been into these business for about 20years, so we understand the challenges that comes with the business and how they are tackled. We are creative and emerging with our services, as we offer them with reasonable and affordable prices, do read through our profile as we look forward working with you
Benefits;
1) We expand your market when we advertise for you
2) We brand your firm with a new look and make consumers get attracted
3) We offer a discount of 15% for new firms and subsequently 5% for consistent customers.
Answer:
C. Credit to Cost Of Goods Sold
Explanation:
Over allocation refers to the scenario of assigning more than actual manufacturing overhead costs. This means profits would be understated in such a scenario and costs overstated.
The journal entry for adjustment of overallocated manufacturing overheads is:
Manufacturing Overheads A/C Dr.
To Cost Of Goods Sold A/C
(Being rectification entry for over allocated manufacturing overheads recorded)
Cost of Goods Sold is an expense and expenses are debited. A credit to such an account reduces it's balance as in the case above.