Answer:
$4,600 debit balance
Explanation:
Provided that
The account receivable balance = $5,000
The amount received from its charge-account customer = $400
So after posting this transaction, the new balance in the account receivable account is
= The account receivable balance - The amount received from its charge-account customer
= $5,000 - $400
= $4,600 debit balance
Answer:
57,900 units
Explanation:
For computing the equivalent units for conversion costs , first we have to compute the transferred units which is shown below:
= Beginning work in process inventory units + additional units - ending work in process inventory units
= 3,400 units + 64,500 units - 25,000 units
= 42,900 units
Now the equivalent units for conversion costs equal to
= Transferred units × percentage of completion + ending work in process inventory units × percentage of completion
= 42,900 units × 100% + 25,000 units ×60%
= 42,900 units + 15,000 units
= 57,900 units
Answer:
Mark Johnson's investment would worth $ 13,223.95 at 8%,$ 12,338.93
at 5% and $ 11,784.66 at 3%
Explanation:
In calculating the worth of the investments at different rates of interest I adopted the future value approach as contained in the attached.
Answer:
any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.
Explanation:
IFRS is an acronym for International Financial Reporting Standards, it comprises of a set of accounting standards or rules issued by the International Accounting Standards Board (IASB). The International Financial Reporting Standards ensures that statement of income, when reported by accountants is consistent, transparent and comparable globall
IAS 32 defines a financial instrument as any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.
