Answer:
Total Income=$16,440
Explanation:
Number of working hours allowed=1,200 hour per year
Amount paid =$6 per hour
Welfare amount, if Bruce does not work=$15,000
If Bruce works, deduction on 1$=$0.60 or 60 cents
Bruce worked per year=600 hours
Required:
Income of Bruce=?
Solution:
Income from working=600*6
Income from working=$3,600 per year
Amount received from Welfare=$15,000- (3,600*0.60)
Amount received from Welfare=$12,840
Total Income=Income from working+Amount received from Welfare
Total Income=$3,600+$12,840
Total Income=$16,440
Answer:
Journal entries to record the expenses incurred are given below.
Debit Factory Overhead Control Account $ 1300
Credit Utilities bills account $ 700
Credit Accumlated factory depreciation $ 400
Credit property tax payable $ 200
Journal entries to record the allocation of overhead at the predetermined rate of $1.50 per machine hour are given below.
Debit WiP process account $ 525
Credit Factory overhead applied account $ 525
(1.5 * 350 (machine hours))
I think b is the correct answer
Answer:
1.625
Explanation:
Debt to equity ratio = Debt ÷ Equity
or
1.75 = Debt ÷ Equity
or
Debt = 1.75 × Equity
also,
Total assets = Debt + Equity
or
$275 million = 1.75 × Equity + Equity
or
$275 million = 2.75 × Equity
or
Equity = $100 million
Therefore,
Debt = $275 million - Equity
= $275 million - $100 million
= $175 million
Now,
after issuance,
Total debt = $175 million + $20 million
= $195 million
and,
Equity = $100 million + $20 million
= $120 million
Therefore,
Southern’s debt-to-equity ratio after the issuance
= $195 million ÷ $120 million
= 1.625