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Charra [1.4K]
3 years ago
6

On June 30, 2009, Apricot Co. paid $5,000 cash for management services to be performed over a two-year period. Apricot follows a

policy of recording all prepaid expenses to asset accounts at the time of cash payment. The adjusting entry on December 31, 2009 for Apricot would include:
Business
1 answer:
Nikolay [14]3 years ago
7 0

Answer:

A debit to Management Services Expense for $1,250.

Explanation:

The adjusting entry for apricot would include that

There is a debit to the  Management Services Expense for

= $5,000 ÷ 2 years × 6 months ÷ 12 months

= $1,250

Hence, the adjusting entry for apricot would include a debit to the  Management Services Expense for $1,250

The same should be considered and relevant

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Our company makes sophisticated lenses for satellite cameras. We allocated our overhead (OH) costs using practical equipment mac
ser-zykov [4K]

Answer:

If we made the switch, our OH rate would be closest to: $30.40 per MH

Explanation:

Overhead Rate is used to allocate manufacturing overheads (indirect costs) to jobs and departments.

In our senario Overhead rate are used to allocate fixed manufacturing overheads to production of lenses for satellite cameras.

Overhead Rate = Budgeted Overheads / Budgeted Activity

                          = $760,000/ 25,000

                          = $30.40 per practical equipment machine hour

5 0
3 years ago
You own a portfolio which is valued at $8.5 million and which has a beta of 1.3. You would like to create a riskless portfolio b
Stells [14]

Answer:

The answer is option (c)  Short 34 contracts

Explanation:

Solution:

Given that

The information about the portfolio is as stated below:

The value of the portfolio = $8.5 million

The beta = 1.3

The future contract of S&P price = $1310

The size of contract  = 250

Now,

To hedge the risk completely, the desired beta is =0

Thus,

The number of contracts is calculated as follows:

The Number of contract = (desired beta - portfolio beta)*portfolio value/(future price*contract size)

So,

The number of contracts = (0 - 1.3)*8500000/(1310*250) = -34

Then,

The negative sign means  it is going short.

Hence,

A total of 340 contracts must be short.

8 0
3 years ago
Differentiate between the planning, organizing, leading, and controlling functions of management. ​
Maurinko [17]

Explanation:

https://vt.tiktok.com/ZGJkC8ULE/

3 0
3 years ago
Written, Inc. has outstanding 600,000 shares of $2 par common stock and 120,000 shares of no-par 8% preferred stock with a state
Vitek1552 [10]

Answer:

$126,000

Explanation:

Given:

Total outstanding stocks = 600,000

Price per share of common stock = $2

Number of preferred stock = 120,000

Interest rate = 8%

Stock Value = $5

Outstanding year = 3

Total Amount of preferred stock = Principle × Rate × Time

or

Total Amount of preferred stock = ( 120,000 × $5 ) × 0.08 × 3 = $144,000

Since,

The preferred stock value is more than the amount distributed

Hence,

the total amount distributed i.e $126,000 will be received by the preferred stockholders

6 0
3 years ago
Teresa has a contract to teach eighth grade at Washington Middle School. She decided she could make more money writing a book, s
kari74 [83]

Answer:

The duties under the teaching contract cannot be delegated

Explanation:

The person wit whom the school has a binding agreement was Teresa and contract of services cannot be delegated unilaterally by Teresa to her friend Shirley without consulting the school authority.

The appropriate procedure would be for Teresa to discuss with the school her plans to let Teresa to cover up for her absence,however, if the school accepts the new arrangement , Teresa would need to be relieved of her duties as this would be a permanent substitution.

8 0
3 years ago
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