When is a door not a door?

Fill in the correct words for the skills that Sharia used to make a career plan.

gogolik [260]

#1 goal-setting #2 decision-making

8 0

3 years ago

Read 2 more answers

Following are the accounts and balances from the adjusted trial balance of stark company

Lorico [155]

Answer:

STARK COMPANY

INCOME STATEMENT

FOR THE YEAR ENDED DECEMBER 31

PARTICULARS AMOUNT $

Service Revenue 20,000

Expenses

Supplies expense 200

Interest expense 500

Insurance expense 1,800

Utilities expense 1,300

Depreciation expense 2,000

Wages expense 7,500

Total expenses 13,300

Net profit 6,700

STARK COMPANY

STATEMENT OF RETAINED EARNINGS

FOR THE YEAR ENDED DECEMBER 31

Amount $

Retained earnings December 31 prior year end 14,800

Add- Net income 6,700

Less- Dividends 3,000 3,700

Retained earnings, December 31 Current year end 18,500

3. STARK COMPANY

BALANCE SHEET FOR THE YEAR ENDED DECEMBER 31

Current Assets

Cash 10,000

Accounts receivable 4,000

Office supplies 800

Prepaid insurance 2,500

Total current asset 17,300

Non Current Assets

Buildings 40,000

Less- Accumulated dep. 15,000

Total Non Current Assets 25,000

Total Assets 42,300

Liabilities

Current liabilities

Accounts payable 1,500

Interest payable 100

Notes payable 11,000

Unearned revenue 800

Wages payable 400

Total Current liabilities 13,800

Long term liabilities

Common stock 10,000

Retained earnings 18,500 28,500

Total liabilities and capital 42,300

7 0

3 years ago

Cumulative preferred stock carries the right to be paid both current and all prior periods' unpaid dividends before any dividend

alexgriva [62]

Answer: True

Explanation: Cumulative preferred shares of a company carries some special rights as per law. The holders of such stock must be paid any current or prior period accrued dividends before any payment of dividend to common shareholders. The dividends of such shareholders is fixed in nature.

Also in the event of liquidation they will be preferred before any common stock holders.

Thus, the given statement is true.

3 0

3 years ago

The Restaurant Group manufactures the bags of frozen French fries used at its franchised restaurants. Last week, purchased and

pishuonlain [190]

Answer:

Explanation:

The question was missing the actual amount of potatoes used and their actual price = 98,000 pounds at $0.85 per pound:

1. Determine the direct material price and quantity variances.

direct materials price variance = AQ x (AP - SP) = 98,000 x ($0.85 - $1) = $14,700 favorable

direct material quantity variance = SP x (AQ - SQ) = $1 x (98,000 - 95,000) = $3,000 unfavorable

2. Think of a plausible explanation for the variances found in Requirement 1

Since the actual price of potatoes was less than the standard price, the price variance was favorable. But since the actual quantity used was more than the standard quantity, the quantity variance was unfavorable.

3. Determine the direct labor rate and efficiency variances.

direct labor rate variance = AH x (AR - SR) = 2,100 x ($12.45 - $12.15) = $630 unfavorable

direct labor efficiency variance = SR x (AH - SH) = $14.15 x (2,100 - 2,000) = $1,415 unfavorable

4. Could the explanation for the labor variances be tied to the material's variances?

Probably the labor efficiency variance since more materials had to be processed, but the labor rate variance is completely independent from the materials variances.

8 0

3 years ago

Halogen Laminated Products Company began business on January 1, 2021. During January, the following transactions occurred:

Diano4ka-milaya [45]

Answer:

1. General journal entries to record each transaction.

Jan. 1 Dr. Cr

Cash $103,000

Common Stock $103,000

Jan. 2 Dr. Cr

Inventory $38,000

Account Payable $38,000

Jan. 4 Dr. Cr

Prepaid Insurance $2,760

Cash $2,760

Jan. 10 Dr. Cr

Account Receivable $12,300

Sale $12,300

Cost of Goods Sold $7,300

Inventory $7,300

Jan. 15 Dr. Cr

Cash $33,000

Note Payable $33,000

Jan. 20 Dr. Cr

Salary Expense $33,000

Cash $33,000

Jan. 22 Dr. Cr

Cash $10,300

Sale $10,300

Cost of Goods Sold $6,300

Inventory $6,300

Jan. 24 Dr. Cr

Account Payable $15,300

Cash $15,300

Jan. 26 Dr. Cr

Cash $6,150

Account Receivable $6,150

Jan. 28 Dr. Cr

Utility Expense $1,000

Cash $1,000

Jan. 30 Dr. Cr

Rent Expense $2,150

Prepaid Rent $2,150

Cash $4,300

2.

MS Excel File is attached for T accounts Posting in Worksheet Named as " T Account". Please Find that.

3.

MS Excel File is attached for unadjusted trial balance in Worksheet Named as " Trial Balance". Please Find that.

Download xlsx

5 0

3 years ago