Answer:
Materials cost per unit is $13.40
Explanation:
Equivalent Unit of Material = (3,200-1,700)*100% + 1,700*100%
Equivalent Unit of Material = 3,200
Materials cost per unit = total materials costs/Equivalent Unit of Material
Materials cost per unit = 42,880/3,200
Materials cost per unit = $ 13.40
Answer:
See explanation section.
Explanation:
The correct journal to record this transaction is -
Cash Debit $40,000
Common stock Credit $40,000
Note: As Callie Taylor invests the amount in exchange for common stock, An asset (cash) will be increased, and equity (common stock) will be increased. An increase in asset means debit, while an increase in equity means credit.
Open market operations involve buying and selling securities to influence the money supply. The correct answer is C.
Answer:
The journal entry is shown below:
Explanation:
The journal entry which is to be recorded on the date of payment is as:
Cash A/c...........................................................Dr $2,009
Sales Discount A/c.........................................Dr $41
Accounts Receivable- Hubbard Incorporated A/c..........Cr $2,050
As the goods sold by company, so they received cash and any increase in assets account is debited. Therefore, the cash account is debited. And the company also offered discount which is also debited and the account of accounts receivable is credited.
Working Note:
Amount of cash received = (Sold merchandise amount - Return goods amount) - 2% on amount
= ($2,400 - $350) - 2% on amount
= $2,050 - 2% × $2,050
= $2,050 - 41
= $2,009
I would say it would be best to choice choice C because I mean if your already deep in debt then why would you want to be more into it? It wouldn't make sense. So I would go with C: When you are already in debt.
