Answer:
B. Debit Income summary Debit $ 23,000
Retained Earnings Credit $ 23,000
Explanation:
The closing entries are recorded to close the current year's income statement to the retained earnings account,
According to the data in the question, the revenue is closed to the credit of the income Summary of $ 68,000 and the expenses are closed to the debit of the Income Summary of $ 45,000. This leaves a credit balance of $ 23,000 in the income summary account which is closed by debiting the income summary account and crediting the retained earnings account.
Since the revenue exceeded the expenses, the result ia a profir which should increase the retained earnings account, which would be the case by a credit to the retained earnings account.
Answer:
$5.73
Explanation:
The computation of the price of the put is shown below:
= Price of the corresponding call option - current price of put option + exercise price ÷ ( 1 + effective annual risk-free rate of interest) ^ number of months ÷ total months in a year
= $4.20 - $46 + $48 ÷ ( 1 + 0.04) ^ 3 months ÷ 12 months
= $4.20 - $46 + $48 ÷ 1.0098534065
= $4.20 - $46 + 47.5316513156
= $5.73
Answer:
The correct answer is the second option: False.
Explanation:
To begin with, the well known term of <em>"Diminishing Marginal Productivity"</em> is understood to be an economic law whose main purpose is to explain that given a certain level of an input, the production of the company will start to go down eventually after adding more and more of that variable. Therefore that this theory states that when a company adds more of a factor of production, everything else constant, when it reaches a certain level that input will start to affect the output of the good and with it the profits of the business. That is why that if the company is in a situation of diminishing marginal productivity the senior management would not be pleased.
Answer:
$55,000 and $90,000
Explanation:
The average debt incurred by a male pathological gambler in the U.S. is between $55,000 and $90,000. The average rate of Norce for problem gamblers is nearly double that of non-gamblers.
Answer:
The manufactured overhead was under-estimated.
Explanation:
Giving the following information:
The actual manufacturing overhead costs incurred were $515,000.
Estimated Manufacturing overhead was $500,000.
Overhead allocation is the distribution of indirect costs to produced goods. When the administration has undervalued and under-funded the amount of money needed for non-production costs, they have under-allocated overhead.
<u>Over applied manufacturing overhead:</u>
<u></u>
Applied overhead>Actual overhead
<u>Under applied manufacturing overhead:</u>
Applied overhead<Actual overhead
In this exercise:
Actual manufacturing overhead - Estimated Manufacturing overhead= 515000- 500000= 15000
The manufactured overhead was under-estimated.
