Answer:
The total cost of goods sold = $70,000
Explanation:
Given:
Initial inventory at the start of the year for Jackson Co. = $20,000
Total cost of purchases made during the year = $80,000
Inventory remaining at the end of the year = $30,000
Solution:
Total inventory for Jackson Co. during the year = 
Inventory remaining at the end of the year = $30,000
The cost of the goods sold can be calculated by subtracting the remaining inventory from the total inventory.
Thus, cost of goods sold can be given as :
⇒ 
⇒ 
The total cost of goods sold = $70,000
Answer:
$60,000 or $12,000
Explanation:
1. Since Zack expects Sparky to use the developed software for a period of five years, we could assume that the revenue for the first year of the contract would be $60,000.
2. Or if we Spread out the average revenue for a period of five years from the licensing fee, 60,000 / 5 (years) would give us 12,000 dollars per year.
Answer: $13500
Explanation:
The triple net lease refers to a lease agreement whereby the tenant pays all the property expenses such as property taxes, building insurance, utilities, repairs and maintenance.
Therefore, based on the question given, the expenses to be paid will be:
Property taxes = $5,000
Add: Utilities = $7,000
Add: Repairs & Maintenance = $1,500
Total = $13500
Answer:
The requirement of question is prepare journal entries for each of above transaction; It is assumed that par value of each share is $1
Explanation:
Feb 1.
Common Stocks 230*1 Dr.$230
Paid in capital in excess of par 230*(22-1) Dr.$4,830
Cash 230*22 Cr.$5,060
b. Jul 15
Cash 130*23 Dr.$ 2,990
Common Stocks 130*1 Cr.$130
Paid in capital in excess of par 130*(23-1) Cr.$2,860
c.Oct 1
Cash 100*21 Dr.$2,100
Common Stocks 100*1 Cr.$100
Paid in Capital in excess of par 100*(21-1) Cr.$2,000
Answer:
Predetermined manufacturing overhead rate= $171.89 per direct labor hour
Explanation:
<u>To calculate the predetermined manufacturing overhead rate we need to use the following formula:</u>
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Total direct labor hours= (500*0.4) + (1,000*0.2)= 400 direct labor hours
Predetermined manufacturing overhead rate= 68,756 / 400
Predetermined manufacturing overhead rate= $171.89 per direct labor hour
