Answer:
1. Journal Entry Debit Credit
Raw materials inventory $73,400
($72,000 + $1,400)
Accounts payable $73,400
(Being raw materials purchase on credit)
2. Journal Entry Debit Credit
Work in process $64,300
($64,000 + $300)
Raw materials inventory $64,300
<u>Raw Material Inventory Account</u>
Beginning balance $36,000 | Work in process $64,300
Purchase $73,400 | <u> </u>
| Ending balance <u>$45,100</u>
| ($36,000 + $73,400 - $64,300)
Answer:
<u>Transactions:</u>
1. June 1 Monthly invests $3, 910 cash in exchange for shares of common stock in a small welding business.
2. June 2 Purchases equipment on account for 340.
3. June 3 $760 cash is paid to landlord for June rent.
4. June 12 Bills P. Leonard $410 after completing welding work done on account.
<u>Journal Entries:</u>
1.
June 1 Dr. Cr.
Investment $3,910
Cash $3,910
2.
June 2 Dr. Cr.
Equipment $340
Account Payable $340
3.
June 3 Dr. Cr.
Rent Expense $3,760
Cash $3,760
4.
June 12 Dr. Cr.
P. Leonard (Receivable) $410
Welding Service Revenue $410
Answer:
c. $166.67 million
Explanation:
cost of expansion = new equity issued / (1 - flotation costs)
cost of expansion = $150 million / (1 - 10%) = $150 million / 90% = $166.67 million
Flotation costs increase the cost of equity, since they are an expense that decreases the net amount of money received by a corporation when it issued new stocks or new bonds.
Answer:
$1,103.56
Explanation:
In this question, we use the PMT formula that is shown in the attachment. Kindly find it below:
Provided that
NPER = (82 - 66) × 12 = 192
Present value = $136,000
Future value = $0
Rate of interest = 6% ÷ 12 months = 0.5%
The formula is shown below:
= PMT(Rate;NPER;-PV;FV;type)
The present value come in negative
So, after solving this, the monthly payment is $1,103.56
Answer and Explanation:
The preparation of the differential analysis is presented below:
Particulars Order rejected (Alternative 1) order accepted (Alternative 2) Differential Effect on Income (Alternative 2)
Revenues $0 $576,000 $576,000
($18,000 × $32)
Costs
Variable Manufacturing Costs $0 $522,000 -$522,000
($18,000 × $29)
Income (Loss) $0 $54,000 $54,000
We simply deduct the variable manufacturing cost from the revenues so that the income or loss could come
