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2 years ago

The following unadjusted trial balance contains the accounts and balances of Dylan Delivery Company as of December 31, 2017

Business

1 answer:

Ganezh [65]2 years ago

6 0

Answer:

Question 1

Part a

Debit : Depreciation $8.231

Credit : Accumulated Depreciation $8.231

Part b

Debit : Interest Expense $8,000

Credit : Long term notes payable $8,000

Part c

Debit : Office Supplies Expenses $ 500

Credit: Office Supplies $ 500

Question 2

Capital amount to be reported on the December 31, 2017 balance sheet is $170,551

Explanation:

See below the full question that i have attached

Calculation of Capital amount as at December 31, 2017

Balance before adjustments $187,282

Adjustments :

Depreciation ($8.231)

Interest Expense ($8,000)

Office Supplies Expenses ($ 500)

Balance after adjustments $170,551

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Rios Co. makes drones and uses the variable cost approach in setting product prices. Its costs for producing 30,000 units follow

AnnyKZ [126]

Answer:

1. Variable cost per unit = $150

2. Markup percentage = 34.89%

3. Selling price = $202.33

Explanation:

Variable cost per unit = 70+40+25+15= $150

Fixed cost = 670,000+ 305,000 +285,000= $1,260,000

Fixed cost per unit = 1,260,000/30,000= $42

Profit per unit = Targeted profit

Targeted production unit

= $310,000 =$10.33

30,000

Markup percenge = Fixed cost per unit + profit per unit

Variable cost per unit

=$42+ $10.33 = 52.33 * 100 = 34.89%

$150 $150 1

Selling Price = Variable cost per unit + markup

= $150+$42+$10.33

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Variable cost-plus pricing is calculated by determining variable costs per unit and adding mark-up which will cover fixed costs per unit and generate a targeted profit margin.

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3 years ago

Read 2 more answers

At December 31, 2019, Skysong Corporation had the following stock outstanding. 10% cumulative preferred stock, $100 par, 108,966

Fittoniya [83]

Answer:

Earnings per share from continuing operations is $3.41 per share.

Earnings per share from discontinued operations is -$0.53 per share.

Explanation:

The earnings per share data can be computed by preparing a partial income statment as follows:

Skysong Corporation

Income Statement (Partial)

As at December 31, 2019

Particulars Amount ($)

Continuing operations

Income from continuing operations before taxes 22,887,900

Taxes on continuing operations (22,887,900 * 35%) (8,010,765)

Income from continuing operations after taxes 14,877,135

Preferred dividends declared (1,089,660)

Income from continuing operations after pref. div. 13,787,475

Discontinued operations

Discontinued operations (loss before taxes) (3,284,900)

Tax benefit on discontinued oper. (3,284,900 * 35%) 1,149,715

Discontinued operations (loss after taxes) (2,135,185)

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Discontinued operations (2,135,185 / 4,044,060) (0.53)

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2 years ago

In 2019, Rashaun (62 years old) retired and planned on immediately receiving distributions (making withdrawals) from his traditi

lubasha [3.4K]

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation

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3 years ago

Elaine is a secretary for a business. One day a customer comes in to file a new contract while Elaine is seated at her boss’s de

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Answer:

The answer is c:

Enforceable via employee agent

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Agreements that result in the formation of agency-type relationships can be implied or express, and both the principal and the agent can be an entity (such as partnership or corporation) or individual.

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3 years ago

Choose the correct alternative regarding tax revenue:

insens350 [35]

The correct alternative regarding tax revenue:

B-Personal income tax is currently the largest source of government revenue in South Africa.

Direct Taxes

it is levied on earnings and activities conducted.
the burden of tax cannot be shifted in case of direct tax.
it is paid directly by individual concerned.
it is paid after the income reaches in the hands of the taxpayer
Tax collection is difficult.
instance income tax, wealth tax etc.

Indirect Taxes

it is levied on product or services.
the burden of tax shifted for indirect taxes
It is paid by way of one man or woman however he recovers the same from another person i.e. person who actually bear the tax ultimate consumer.
it is paid before goods/service reaches the taxpayer.
Tax collection is exceptionally easier
Example GST, excise duty custom duty sale tax carrier tax

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