An indentured servant is a person who has agreed to work for another for a limited period, often in return for travel expenses, nominal food, shelter, and sustenance
A person who has contracted to work for another for a limited period, often in return for shelter, travel expenses, and sustenance is called an indentured servant. Those who contracted the indentured servants don’t pay them. Instead of payment, they offered shelter, nominal foods, boarding, travel expenses, and received passage to colonies in exchange for their labor. Indentured servants are bound to work with the contractor for a specified time.
Usually, the duties of indentured servants worked as cooks, field workers, housekeepers, or general laborers. While the more specific skills of indentured servants are plastering, blacksmithing, and bricklaying, which they later turned into careers later.
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<span>A. income statement debit column</span>
Answer:
$18,000
Explanation:
To find the Sales Revenue we simply add the $12,000 cash received immediately, and the $30,000 received as partial payment, totalling $42,000.
Then, we simply complete the proposed income statement:
Income Statement for the Month Ended in March 31
Sales Revenue $42,000
Rent Expense $9,600
Wage Expense $14,400
Net Income $18,000
Net Income is equal to Revenue - expenses.
Answer:
Allocated costs Loin Chop= $5,590
Explanation:
Giving the following information:
Product - Pounds - Price/lb.
Loin chops 3,000lb $ 5.00/lb
Ground 10,000lb $2.00/lb
Ribs 4,000lb $4.75/lb
Bacon 6,000lb $3.50/lb
The total joint cost for the current period was $43,000
First, we need to calculate the weighted average lb participation of Loin Chops:
Total lb= 23,000
Weighted average lb= 3,000/23,000= 0.13
Now, we can allocate the joint costs:
Loin Chop= $43,000*0.13= $5,590
<span>Return on equity = 11.28 percent = 11.28/100 = 0.1128
debt-equity ratio =1.03
total asset turnover = 0.87
return on assets = ?
we can find return on assets by using the formula
= return on equity / (1 + debt equity ratio)
= 0.1128 / (1 + 1.03)
= 0.1128 / 2.03
= 0.0556 = 0.0556 x 100 = 5.56%
So, the return on assets is 5.56%</span>
