Answer:
156.6%
Explanation:
Given:
Cosi Company's Incurred over head for the next period = $830,000
Expected labor hours = 53,000
Cost of labor = $10.00 per hour
Thus,
Total labor cost = 53,000 × $10.00 = $530,000
Now,
the Cosi Company's predetermined overhead rate will be calculated as:
Predetermined overhead rate = Incurred overhead / Total labor cost
on substituting the respective values, we get
Predetermined overhead rate = ( $830,000 / 530,000 ) = 1.566
or
Predetermined overhead rate = 1.566 × 100% = 156.6%
Answer:
Journal entries
Explanation:
Before passing the journal entries, first we have to determine the book value of truck which is
= Cost of delivery truck - accumulated depreciation
= $56,000 - $41,300
= $14,700
Now the journal entries are as follows
a. Cash Dr $14,700
Accumulate depreciation $41,300
To Delivery truck $56,000
(Being the disposal of the truck is recorded)
b) Cash Dr $16,400
Accumulate depreciation $41,300
To Delivery truck $56,000
To Gain on sale $1,700
(Being the disposal of the truck is recorded)
c) Cash Dr $12,900
Accumulate depreciation $41,300
Loss on sale $1,800
To Delivery truck $56,000
(Being the disposal of the truck is recorded)
Answer:
Net Income 193,000
Non-monetary terms:
Depreciation expense 25,000
amortization expense 10,000
gain on disposal <u> (7,000) </u>
Adjusted Income 221,000
Change in Working Capital:
Increase in A/R (27,000)
Decreasein Inv 17,000
Increase in Prepaid (5,000)
Increase Accrued /P 11,000
Decreasein A/P (6,000)
Change In Working Capital (10,000)
From Operating Activities 211,000
Investing
Sale of Equipment 47,000
Financing
Bonds Issued 60,000
Cash Flow 318,000
Beginning Cash 99,000
Cash Flow 318,000
Ending Cash 417,000
Explanation:
We first remove the non.monetary concetps from the net income.
Then we adjust for the change in working capital which are the incrase and decrease in the current assets and liabilities account
Increase in asset and decrease in liabilities represent cash outflow
while the opposite is true when an asset decrease(convert to cash) or a liablity increase (delay of the payment)
Answer:
The contrast coder's weekly salary last week was $450.00.
Explanation:
The CC charged $5.00 per record coded. The previous week she coded 300 records.
Write it like:
$5.00 x 300 = 1500.00
Though remember the hospital has a 30% benefit.
So:
1500.00 x 30%*=450.00
*0.30 if you can't do the % sign on the calculator
Sorry if it doesn't work out!
Answer: a. She fraudulently concealed or destroyed financial records during the course of the bankruptcy.
Explanation:
Fraudulently concealing or destroying financial records during a bankruptcy is one of the chief reasons why a discharge could be DENIED. It proves dishonesty and a lack of remorse.
It is always best to be upfront with the court to avoid getting into such issues.
Other reasons include violating court orders and giving false statements.
