1. An agency is given detailed authority to issue rules similar to the power of statutes with ____

The ledger of Mai Company includes the following accounts with normal balances as of December 31: Common Stock $9,000; Dividends

Molodets [167]

Answer:

Dec 31 Dr Service Revenue 13,000

Cr Income Summary 13,000

Dec 31 Dr Income Summary 10,000

Cr Wages Expense 8,400

Cr Rent Expense 1,600

Dec 31 Dr Income Summary 3,000

(13,000-10,000)

Cr Retained Earnings 3,000

Dec 31 Dr Retained Earnings 800

Cr Dividends 800

Explanation:

Preparation of its December 31 closing entries.

Dec 31 Dr Service Revenue 13,000

Cr Income Summary 13,000

(Being to close revenue account)

Dec 31 Dr Income Summary 10,000

(8,400+1,600)

Cr Wages Expense 8,400

Cr Rent Expense 1,600

(Being to close expense account)

Dec 31 Dr Income Summary 3,000

(13,000-10,000)

Cr Retained Earnings 3,000

(Being to close net income/loss)

Dec 31 Dr Retained Earnings 800

Cr Dividends 800

(Being to close dividends)

4 0

3 years ago

.In 2027, instead of cashing in the bond for its then current value, you decide to hold the bond until it doubles in face value

cricket20 [7]

Answer:

The question is not complete,find below complete questions:

If you purchased a $50 face value bond in early 2017 at the then current interest rate of .10 percent per year, how much would the bond be worth in 2027? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. In 2027, instead of cashing the bond in for its then current value, you decide to hold the bond until it doubles in face value in 2037. What annual rate of return will you earn over the last 10 years?

The bond is worth $50.50 in the year 2027

The annual rate of return is 7.07%

Explanation:

The future value of the bond is given by the below formula:

FV=PV*(1+r)^N

where PV is the present of the bond of $50

r is the rate of return of 0.10 percent=0.001

N is the duration of the bond investment of 10 years

FV=50*(1+0.001 )^10

FV=$50.50

However for the face of the bond to double i.e to $100, the rate of return can be computed thus:

r=(FV/PV)^(1/N)-1

where FV=$100 (double of $50)

FV=$50.50(current value in 2027)

N=10

r=($100/$50.50)^(1/10)-1

r=0.070707543

r=7.07%

5 0

3 years ago

a company product sells for 170 and has variable cost of 50 associated with the product what is its contribution margin per unit

Stella [2.4K]

Answer:

Contribution margin per unit = 120 per unit

Explanation:

Given:

Sales price of a unit = 170

Variable cost per unit = 50

Find:

Contribution margin per unit

Computation:

Contribution margin per unit = Sales price of a unit - Variable cost per unit

Contribution margin per unit = 170 - 50

Contribution margin per unit = 120 per unit

Contribution margin ratio = [Contribution margin per unit / Sales price of a unit]100

Contribution margin ratio = [120 / 170]100

Contribution margin ratio = [0.7058]100

Contribution margin ratio = 70.58% (Approx.)

5 0

3 years ago

Which type of money is based only on faith?

Gelneren [198K]

I believe fiat money is the correct answer here.

6 0

4 years ago

Read 2 more answers

When the carrying cost of inventory is expressed as a percentage: A. it is usually the same as the borrowing cost of the organiz

dimaraw [331]

Answer:

Option E It is multiplied by the material unit cost to calculate the per unit carrying cost.

Explanation:

The reason is that the carrying cost which is also known as holding cost is the cost of holding a unit material for a year and this can be calculated as:

Holding Cost is also given in percentage of material price and is calculate by multiplying it with the material unit cost to calculate the holding cost per unit per year.

So the option E is correct.

5 0

3 years ago

1. An agency is given detailed authority to issue rules similar to the power of statutes with _____ rule making.