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3 years ago

Here is the ledger for Blossom Company.

Business

1 answer:

Alex777 [14]3 years ago

3 0

Answer:

1/Oct : Cash (Dr.) $8,660

Accounts Receivable (Cr.) $8,660

10/Oct : Equipment & Supplies (Dr.) $9,660

Notes Payable (Cr.) $9,660

20/Oct : Accounts Receivable (Dr.) $2,640

Service Revenue (Cr.) $2,640

Explanation:

Debits $16,960

Cash 6,600

Accounts Receivable 1,840

Supplies 1,840

Equipment 4,660

Dividend 2,020

Credits : $16960

Accounts Payable 4,660

Notes Payable 9,660

Service Revenue 2,640

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At the beginning of the year, Bryers Incorporated reports inventory of $6,200. During the year, the company purchases additional

Nana76 [90]

Answer:

Cost of Goods Sold = $19200

Explanation:

The cost of goods sold or COGS is the cost of inventory that the business has sold for the period. The cost of goods sold can be calculated as follows,

Cost of Goods sold = Opening Inventory + Purchases for the year - Closing Inventory

Cost of Goods Sold = 6200 + 21200 - 8200

Cost of Goods Sold = $19200

8 0

3 years ago

Computing second-year depreciation and accumulated depreciationAt the beginning of 2016, Air Asia purchased a used airplane at a

Bezzdna [24]

Answer:

1. a.$4,375,000

b. $7,500,000

c. $9,800,000

2. $8,750,000

$18,200,000

$17,500,000

Explanation:

1. The computation of the depreciation expense for the second year is presented below:

a) Straight-line method:

= (Purchase value of airplane - residual value) ÷ (useful life)

= ($40,000,000 - $5,000,000) ÷ (8 years)

= ($35,000,000) ÷ (8 years)

= $4,375,000

In this method, the depreciation is same for all the remaining useful life

(b) Double-declining balance method:

First we have to find the depreciation rate which is shown below:

= One ÷ useful life

= 1 ÷ 8

= 12.5%

Now the rate is double So, 25%

In year 1, the original cost is $40,000,000 so the depreciation is $10,000,000 after applying the 25% depreciation rate

And, in year 2, the $30,000,000 × 25% = $7,500,000

(c) Units-of-production method:

= (Purchase value of airplane - residual value) ÷ (estimated miles)

= ($40,000,000 - $5,000,000) ÷ ($5,000,000 miles)

= ($35,000,000) ÷ ($5,000,000 miles)

= $7 per miles

In first year, it would be

= Miles in first year × depreciation per miles

= 1,200,000 miles × $7

= $8,400,000

Now for the second year, it would be

= Miles in second year × depreciation per miles

= 1,400,000 miles × $7

= $9,800,000

2. The calculation of the accumulated depreciation balance would be

Straight line method:

= $4,375,000 + $4,375,000

= $8,750,000

Double-declining balance method:

= $10,000,000 + $7,500,000

= $17,500,000

Units-of-production method:

= $8,400,000 + $9,800,000

= $18,200,000

4 0

3 years ago

The Akron Slugger Company produces various types of wooden baseball bats. It has calculated the average cost per unit of a produ

Naddika [18.5K]

Answer:

$\arge\boxed{\large\boxed{\$ 117,788}}$

Explanation:

Assume the cost equation to be:

$Cost(x)=Fixed\text{ }costs+Variable\text{ }costs\\\\Cost(x)=A+Bx$

Where $x$ is the number of units (wooden baseball bats) produced.

The average cost per unit of production level is the total cost divided by the number of units produced:

$Average\text{ }cost(x)=Cost(x)/x\\\\Average\text{ }cost(x)=(A+Bx)/x\\$

You are given that the average cost per unit of a production level of 7,700 bats is $14, then:

$14=(A+7,700B)/7,700$

You are also given that the fixed costs are $22,500, thus A = 22,500. Hence, you can substitute the value of A in the previous equation and find B:

$14=(22,500+7,700B)/7,700\\\\14\times 7,700=22,500+7,700B\\\\107,800-22,500=7,700B\\\\85,300/7,700=B\\\\B=11.08$

Now you can complete the cost equation:

$Cost(x)=\$ 22,500+11.08x$

And to predict the total costs for 8,600 bats you must subsitute x with 8,600 in the previous equation:

$Cost(8,600)=\$ 22,500+11.08(8,600)=\$ 117,788$

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3 years ago

Q 3.35: paulson oil account balances at january 31st include: cash $70,000, accounts receivable $100,000, common stock $120,000

AleksAgata [21]

Cash Balance at the beginning of February:
70,000
Collected $25,000 of AR:
+25,000
Paid 10,000 owed
-10,000
Cash Balance at the end of February:
70,000 + 25,000 - 10,000 = 85,000

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3 years ago

Market penetration, product development, market expansion, and diversification are examples of what?

Elanso [62]

Answer:

B. growth strategies

Explanation:

They are growth strategies, since everything is focused on improving the performance of the company, through product diversification, entering new markets, being able to achieve product development and as it is based on carrying out actions to fulfill said proposed goal that in this case is exponential growth

7 0

3 years ago