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3 years ago

Journalize the following transactions for Cullumber Company.

Business

1 answer:

Thepotemich [5.8K]3 years ago

3 0

Answer and Explanation:

The journal entries are shown below

On Sept 1

Supplies Dr $1,020

To Cash $1,020

(being supplies purchased in cash)

On Sept 5

Dividend Dr $410

To cash $410

(being cash dividend is paid)

On Sept 7

cash Dr 5,500

To Unearned service revenue $5,500

(being cash collection is recorded)

On Sept 16

Cash Dr $770

To Account receivable $770

(being cash collection is recorded)

On Sept 22

Equipment Dr $3,000

To cash $1,100

To Note payable $1,900

(being equipment purchased is recorded)

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Assume you own and operate a small printing and specialty advertising business that employs 25 persons. With increased health ca

kipiarov [429]

Answer:

safety and security needs

Explanation:

Assume you own and operate a small printing and specialty advertising business that employs 25 persons. With increased health care costs and related insurance premiums you are contemplating the cancellation of health and hospitalization insurance for your employees. Your decision may cause your employees to become greatly concerned about safety and security needs.

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4 years ago

Western Company is preparing a cash budget for June. The company has $12,000 in cash at the beginning of June and anticipates $3

sveta [45]

Answer:

Borrowing require = $2,500

so correct option is d.Borrow $2,500

Explanation:

given data

cash at beginning = $12,000

cash receipts anticipates = $30,000

cash payments = $34,500

minimum cash balance = $10,000

required balance = $10,000

to find out

To maintain the $10,000 required balance

solution

we get here cash at the end of the year that is

cash at the end of the year = Beginning cash balance + Cash Receipts - cash payments .................1

cash at the end of the year = $12000 + $30000 - $34500

cash at the end of the year = $7500

and

we know minimum cash balance maintained is $10,000

so Borrowing require is here as

Borrowing require = $10000 - $7500

Borrowing require = $2,500

so correct option is d.Borrow $2,500

7 0

3 years ago

Market Value Ratios Val's Volleyball Supply's market-to-book ratio is currently 3.31 times and PE ratio is 5.51 times. If Val's

Serhud [2]

Answer:

Book Value per share is $2.96 and Earnings per share is $1.78

Explanation:

The market-to-book ratio is:

Market Value = 3.31 times

Book Value

The market value of the stock is $9.80 per share. Therefore, to calculate the Book Value, we make the Book Value subject and divide the ratio by Market Value per share:

Book Value per Share = Market Value per share

Market-to-Book ratio

= 9.80

3.31

= $2.96

The PE ratio is:

Price = 5.51 times

Earnings

The price of the stock is $9.80 per share. Therefore, to calculate the Earnings per share, we make the Earnings subject and divide the PE ratio by Price of stock:

Earnings per share = Price

PE Ratio

= 9.80

5.51

= $1.78

4 0

4 years ago

Volume(units) Series 1 Series 2 Series 3 Series 40 $450 $0 $800 $100100 450 800 800 105200 450 1,600 800 120300 450 2,400 1,600

elena55 [62]

Answer: Please refer to Explanation

Explanation:

To make your question clearer, I have attached a table that demarcates the figures.

Series 1 are FIXED COSTS. Fixed costs do not change over the production process and are not dependent on the level of production. Even if you were not producing anything you would still be accruing fixed costs. Notice how the cost stays at $450 throughout even when no production was being done. It is a fixed cost.

Series 2 is a VARIABLE COST. Variable costs change as production takes place. They rise as more goods are produced and usually do so at a steady rate. Variable costs are not incurred when production is not going on. Notice in Series 2 how there was no cost at 0 units but as soon as production started the costs started increasing at a steady rate of 800 per hundred units.

Series 3 is what we call STEP-WISE COST. It gets it's name from the fact that it looks like a step when graphed. Why?

These costs stay stable for a certain amount of production and then change depending on if production increases or decreases. Notice how from 0 units to 200 units it stayed the same and then increased and stayed the same again.

I have attached a sample of step wise costs.

Series 4 is what we call CURVILINEAR COST. They are the confused guys so to speak because they increase at an irregular rate as production rises. Notice how it increased by 5 and then by 15 and then by 25. Irregular rate rise. I have also attached a sample of this when it is graphed.

Thanks all I have for today. Thank you for coming to my Ted Talk. If you need any clarification do comment.

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4 years ago

On January 1, 2019, Commercial Equipment Sales issued 22,000 in bonds for 21700. These are six−year bonds with a stated interest

Veronika [31]

Answer:

$1,565

Explanation:

Interest expense = Interest payment + Amortization expense

also,

Interest payment = 22,000 × 14% × [ 6 ÷ 12 ] [∵ 6 ÷ 12 ; since payment are semiannual ]

Thus,

Interest payment = $1,540

and,

Amortization expense = [22,000 - 21,700 ] ÷ [6 × 2]

= $25

Therefore,

Interest expense = $1,540 + $25

= $1,565

3 0

4 years ago