Answer:
See explanation
Explanation:
(a) Assets are understated - If we do not adjust accrued revenue, the assets are understated. For example - if we do not add any outstanding rent revenue, the assets will become understated.
(b) Liabilities are overstated - If we do not adjust unearned revenue, the liabilities are overstated. For example - if we do not deduct any expired unearned revenue, the liabilities will become overstated.
(c) Liabilities are understated - If we do not adjust accrued expense, the liabilities are understated. For example - if we do not add any outstanding rent expense, the liabilities will become understated.
(d) Expenses are understated - If we do not adjust accrued expense and prepaid expense, the expenses are understated. For example - if we do not add any outstanding rent expense and expired prepaid expenses, the expenses will become understated.
(e) Assets are overstated - If we do not adjust prepaid expense, the assets are overstated. For example - if we do not deduct any expired prepaid insurance, the assets will become overstated.
(f) Revenue is understated - If we do not adjust accrued revenue and unearned revenue, the revenue is understated. For example - if we do not add any outstanding rent revenue and expired unearned revenue, the revenue will become understated.
Answer:
the $$$ of the different thing will play a big part
Answer:
$28
Explanation:
Step 1:
If a company sells a product at $60 each and makes a sale of $15,000, the number of units of items produced is
$15,000 ÷ $60 = 250 units.
Step 2:
To calculate the company's contribution margin per unit,
we have, (unit selling prices - unit production cost)
unit selling price is #60
unit cost of production is (total cost of prodcution ÷ number of units)
total cost of production is $4,000+ $1,000+ $2,000+ $1,000 = $8000
Unit cost of production is $8000 ÷ 250 = $32
i.e it takes $32 to manufacture 1 product.
Contribution margin = $60 - $32
= $28
∴ the contribution margin is $28.
Cheers.
Answer:
$39,220
Explanation:
The maturity value of the note receivable on June 30, 2012
= Principal + Interest
= $40,000 + $40,000 x 6%
= $40,000 + $2,400
= $ 42,400
The note is discounted on September 30, 2011. Time period remaining to go till maturity as on September 30, 2011
= 12 - 3 months ( July, Aug and Sep)
= 9 months.
Amount of deduction
= $ 42,400 x 10% x 9/12
= $ 3,180
Finally, the Cash received by Ireland will be
= Maturity value - Discount
= $42,400 - $ 3,180
= $39,220
