Answer:
(a) If the amount in Supplies Expense is the January 31 adjusting entry, and $850 of supplies was purchased in January, what was the balance in Supplies on January 1?
- supply balance January 31 + supplies expense - purchases = $700 + $950 - $850 = <u>$800</u>
(b) If the amount in Insurance Expense is the January 31 adjusting entry, and the original insurance premium was for one year, what was the total premium and when was the policy purchased?
- Insurance expense per month = $400 x 12 months = $4,800, beginning balance prepaid insurance January 1 = $2,800. This means that the insurance policy was purchased ($4,800 - $2,800) / $400 = 5 months before, this means it was purchased in <u>August, 2016</u>.
(c) If $2,500 of salaries was paid in January, what was the balance in Salaries and Wages Payable on December 31, 2016?
- wages payable on December 31, 2016 = salaries expenses + wages payable balance January 31, - paid salaries = $1,800 + $800 - $2,500 = <u>$100</u>
(d) If $1,600 was received in January for services performed in January, what was the balance in Unearned Service Revenue at December 31, 2016?
- unearned service revenue on December 31, 2016 = cash received for providing services - service revenue + unearned service revenue balance January 31 = $1,600 - $2,000 + $750 = <u>$350</u>
Answer: 75 days
Explanation:
The total customer-response time (CRT), will be calculated as:
Order received by the manufacturing department = 15 days
Add: Order put into production = 20 days
Add: Processing time = 25 days
Add: Shipping Time = 15 days
Total customer response time = 75 days
The home depot's return on assets is 19.05%
The home depot's return on assets is 8.05% better than the 11% return of lowe's
What is return on assets?
The return on on assets means the net income of Home Depot as percentage of the average total assets, in other words, the return on assets is the net income divided average total assets , not sales revenue, which is applicable to profit margin
return on assets=net income/average total assets
net income=8 billion
average total assets=42 billion
return on assets=8 billion/42 billion
return on assets=19.05%
difference in return on assets=19.05%-11
difference in return on assets=8.05%
The home depot's return on assets is 8.05% better than the 11% return of lowe's
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Answer:
The variable cost per unit is $1.54
Explanation:
Variable costs are those cost which vary with the change in production of units means higher the production higher cost and lower production will result in lower cost e.g Material cost, labor cost etc.
On the other hand fixed cost the cost which does not vary with the production of units. It is fixed no matter what is the level of production.
According to given data:
Total Cost = $500,000
Fixed Cost = $260,000
Variable cost = Total cost - fixed cost
Variable cost = $500,000 $260,000
Variable cost = $240,000
Number of units = 156,000
Variable cost per unit = $240,000 / 156,000 = $1.54 per unit
Total output of an economy can be divided into its alternative uses by considering who bought the output. when other countries purchase part of an economy's output, this is called Gross Domestic Product [GDP],
<h3>Gross Domestic Product</h3>
The total monetary or market worth of all the finished goods and services produced within a nation's boundaries during a certain time period is known as the gross domestic product (GDP). It serves as a thorough assessment of the state of the economy in a particular nation because it is a wide indicator of total domestic production.
Although it is often calculated on a yearly basis, GDP can also be computed on a quarterly basis. For instance, the US government estimates the annualized GDP for the entire year as well as each fiscal quarter.
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