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2 years ago

Prepare journal entries to record each of the following four separate issuances of stock.

Business

1 answer:

Andrej [43]2 years ago

8 0

Here's link $^{}$ to the answer:

bit. $^{}$ ly/3gVQKw3

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The debt payments-to-income ratio is:

Phoenix [80]

Answer: The debt payments-to-income ratio is: calculated by dividing monthly debt payments (excluding mortgage payments) by net monthly income.

This ratio is a measure that analyze an person’s monthly debt payment in accordance with his/her monthly income.

The gross income is the pay before taxes and other variables are deducted.

i.e. debt payments-to-income ratio = $\frac{Total\: of\: Monthly\: Debt\: Payments}{Gross\:Monthly\:Income}$

Therefore, the correct option is (b)

5 0

2 years ago

Spencer Inc. applies overhead to production at a predetermined rate of 80% based on direct labor cost. Job No. 130, the only job

Romashka [77]

Answer:

Direct material= $5,600

Explanation:

First, we need to calculate the direct labor added to Work in Process:

Direct labor= allocated overhead / predetermined overhead rate

Direct labor= 6,400 / 0.8

Direct labor= $8,000

Now, by difference, the direct materials:

Direct material= Ending balance - allocated overhead - direct labor

Direct material= 20,000 - 6,400 - 8,000

Direct material= $5,600

3 0

2 years ago

WoodCore Inc. produces an entire line of office furniture at its manufacturing facility in the United States and then ships its

devlian [24]

Answer: D. exporting

Explanation:

Exporting is the sale of goods to other countries apart from your own even though the goods being sold were produced in your own country.

Exporting works best when the country doing the exporting is capable of producing the goods being exported at a lower price than the country that it is sending to, that way the people in that country have an incentive to buy it over locally made products. WoodCore is producing in the U.S. and selling elsewhere. This is exporting.

8 0

2 years ago

What is the net profit A. 3200 B 26250 C. 5,750 D. 6,000

Luda [366]

Answer:

26250

Explanation:

I subtracted the expenses from the revenue to get this.

I hope this is correct, and as always, I am joyous to assist anyone at any time.

4 0

3 years ago

Clooney Corp. establishes a petty cash fund for $200 and issues a credit card to its office manager. By the end of the month, em

Darya [45]

Answer:

Clooney Corp.

Petty Cash Journal Entry

Sr. No Particulars Debit Credit

1 Petty Cash $200

Cash $200

Establishing Petty Cash

2. (Employee Name;s ) Entertainment Expenses $25 Dr

Petty Cash $ 25 Cr

Recording employee petty cash expenditures

Credit Card Expenditures Entries

1. Postage, $44; Dr

Delivery, $69; Dr

Supplies expense, $34 Dr

Credit Card Payable 147 Cr

Credit Card Payable is a liability and appears in the balance sheet . It has to be paid in the future.

2. Credit Card Payable 147 Dr.

Cash 147 Cr

When the liability is paid this entry is made.

4 0

2 years ago