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3 years ago

Benet Company has budgeted the following unit sales:

Business

1 answer:

Reika [66]3 years ago

8 0

Answer:

Benet Company

Production Budget for 2019:

Quarter Quarter Quarter Quarter

1 2 3 4

Ending inventory 38,000 52,000 75,000 24,000

Units Sold 105,000 190,000 260,000 375,000

Units available for

production 143,000 242,000 335,000 399,000

Beginning Inventory 21,000 38,000 52,000 75,000

Units produced 122,000 204,000 283,000 324,000

Explanation:

a) Data and Calculations:

2019 2020

Quarter Units Quarter Units

1 105,000 1 120,000

2 190,000

3 260,000

4 375,000

Ending inventory

December 31, 2018 = 21,000

Quarter 1, 2019 = 38,000 (190,000 * 20%)

Quarter 2, 2019 = 52,000 (260,000 * 20%)

Quarter 3, 2019 = 75,000 (375,000 * 20%)

Quarter 4, 2019 = 24,000 (120,000 * 20)

Production Budget for 2019:

Quarter Quarter Quarter Quarter

1 2 3 4

Ending inventory 38,000 52,000 75,000 24,000

Units Sold 105,000 190,000 260,000 375,000

Units available for

production 143,000 242,000 335,000 399,000

Beginning Inventory 21,000 38,000 52,000 75,000

Units produced 122,000 204,000 283,000 324,000

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D. Use slide master.

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3 years ago

You are ready to buy a house, and you have $20,000 for a down payment and closing costs. Closing costs are estimated to be 4% of

Bess [88]

Answer:

So we can offer for the house $180119.95

Explanation:

Monthly income =$4000

Monthly mortgage payment allowed (P)= 25% of 4000= $1000

Interest rate per month (i)= 0.5%

Number of months in total (n)= 30*12= 360

Maximum loan affordable = P*(1-(1/(1+i)^n))/i

=1000*(1-(1/(1+0.5%)^360))/0.5%

=$166791.61

Closing cost is 4% of loan value = 166791.61*4% =$6671.66

Balance Amount left for down payment = 20000-6671.66

=$13328.34

It means we can pay $6671.66 for closing cost of Loan and $13328.34 for down payment.

Cost of house paid maximum = Down payment + Affordable loan

=13328.34+166791.61

=$180119.95

So we can offer for the house $180119.95

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4 years ago

Ticker Services began operations in 2015 and maintains long-term investments in available-for-sale securities. The year-end cost

Inessa05 [86]

Answer:

Dec. 31, year 1

Dr Fair value adjustment – AFS (LT) 11,140

Cr Unrealized gain – Equity 11,140

Dec. 31, year 2

Dr Fair value adjustment – AFS (LT) 16,160

Cr Unrealized gain – Equity 16,160

Dec. 31, year 3

Dr Fair value adjustment – AFS (LT) 73,000

Cr Unrealized gain – Equity 73,000

Dec. 31, year 4

Dr Unrealized loss – Equity 3,600

Cr Fair value adjustment – AFS (LT) 3,600

Explanation:

General journal for Ticker Services

Dec. 31, year 1

Dr Fair value adjustment – AFS (LT) 11,140

Cr Unrealized gain – Equity 11,140

($372,000 $360,860)

Dec. 31, year 2

Dr Fair value adjustment – AFS (LT) 16,160

Cr Unrealized gain – Equity 16,160

(455,800-428,500) -11,140

Dec. 31, year 3

Dr Fair value adjustment – AFS (LT) 73,000

Cr Unrealized gain – Equity 73,000

(700,500-600,200)-(455,800-428,500)

100,300-27,300=73,000

Dec. 31, year 4

Dr Unrealized loss – Equity 3,600

Cr Fair value adjustment – AFS (LT) 3,600

(700,500-600,200) -(876,900 -780,200)

100,300-96,700

3,600

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3 years ago

Mr. Hugh Warner is a very cautious businessman. His supplier offers trade credit terms of 3/19, net 60. Mr. Warner never takes t

vekshin1

Answer:

35.92%

Explanation:

The computation of cost of not taking the cash discount is shown below:-

Discount percentage ÷ (100 - Discount percentage) × (360 ÷ (Full Allowed Payment Days - Discount Days))

= 3% ÷ 97% × 360 ÷ (50 - 19)

= 3% ÷ 97% × 360 ÷ 31

= 0.03093 × 11.61290

= 0.359187

= 35.92%

Therefore for computing Mr. Warner's cost of not taking the cash discount we applied the above formula.

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3 years ago

Rayya company purchases a machine for $105000 on january 1, 2019. Straight-line depreciation is taken each year for four years a

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Answer:

Journal entry For Depreciation

Date Account and explanation Debit Credit

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(105000/7)*6/12

Accumulated depreciation-Machine $7,500

(To record Depreciation)

1) Journal entry

Date Account and explanation Debit Credit

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Accumulated depreciation-Machine $67,500

Machine $105,000

Gain on Sale of Machine $8,000

(To record sale of Machine)

2) Journal entry

Date Account and explanation Debit Credit

July 1 Cash $25,000

Accumulated depreciation-Machine $67,500

(105000/7*4.5)

Loss on sale of machine $12,500

Machine $105,000

(To record sale of Machine)

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3 years ago