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Leviafan [203]
3 years ago
11

Balance Sheet Jay Pembroke started a business in April. Prepare a Balance Sheet using the following balances for April transacti

ons. Cash $12,950 Accounts Receivable 2,000 Office Supplies 4,600 Prepaid Insurance 1,200 Accounts Payable $300 Jay Pembroke, Capital 18,000 Jay Pembroke, Drawing 100 Service Fees 3,300 Rent Expense 750 You will need to calculate the ending balance of the Capital account.
Business
1 answer:
alukav5142 [94]3 years ago
6 0

Answer:

Jay Pembroke Company

Balance Sheet as of April 30

Assets:

Cash                                 $12,950

Accounts Receivable          2,000

Office Supplies                   4,600

Prepaid Insurance               1,200

Total assets                    $20,750

Liabilities:

Accounts Payable               $300

Jay Pembroke, Capital    20,450

Total liabilities + equity $20,750

Explanation:

a) Data and Calculations:

Assets:

Cash $12,950

Accounts Receivable 2,000

Office Supplies 4,600

Prepaid Insurance 1,200

Liabilities:

Accounts Payable $300

Statement of Owner's Equity:

Jay Pembroke, Capital 18,000

Net income                    2,550

Jay Pembroke, Drawing  (100)

Ending Capital            20,450

Income Statement for the month ended April 30

Service Fees 3,300

Rent Expense  750

Net income   2,550

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Answer:

Break-even point= 7,900 new costumers

Explanation:

Giving the following information:

Assume that during a recent fiscal year, one outlet spent $1,659,000 on a promotional campaign for its website that offered two free months of service for new subscribers.

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Break-even point= fixed costs/ contribution margin

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Break-even point= 1,659,000/210= 7,900 new costumers

6 0
4 years ago
Carlos Landry finds he has less and less energy to go to work each day. On average he misses two days a week. Carlos may be suff
Zarrin [17]

Answer:

C. Job specialization

Explanation:

Employees boredom is one of the disadvantages of job specialization

Job specialization: This can be defined as a situation where an employee focuses on a particular skills or job position in order to become an expert.

Job specialization is as a result of division of labor. Division of labor is the sharing of roles or functions among employees in a firm so as to Improve productivity.

When a particular role is assigned to an employee for a long period of time, the employee becomes an expert as a result of that.

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• Workers produce more when they occupy a specific role.

• Job specialization leads to time saving in production because employees have become masters in their role

• More expertise is developed through job specialization

Disadvantages of job specialization

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7 0
3 years ago
McGraw purchased an antique rocking chair from Tillis by check. The check was dishonored by the bank due to insufficient funds.
LekaFEV [45]

Answer:

Option C is the correct option.

Explanation:

As the rights and obligation of the antique rocking chair are been passed to third party, so the damage caused by the checque been bounced is the monetry consideration agreed between the party to the contract, McGraw and Tellis. So Tellis may recover money damages from McGraw. However there is a special condition that can allow Tellis recover his asset from Rio if the third party knew before purchase of this asset, that the checque paid to Tellis by McGraw was dishonoured but still he contracted with McGraw to acquire the antique rocking chair.

Overall the option C is the correct option with which the case scenario relates.

3 0
3 years ago
Compute the total manufacturing cost for a manufacturer with the following information for the month. Raw materials purchased $
olga_2 [115]

Answer:

Cost of goods manufactured= $87100

Explanation

Total manufacturing cost is the aggregate amount of cost incurred by a business to produce goods in a reporting period.

Generally accepted accounting principles require that the cost of goods sold shall consist of:

the cost of direct materials

the cost of direct labor

the cost of manufacturing overhead

Expenses that are outside of the manufacturing facilities, such as selling, general and administrative expenses, are not product costs. They are reported as expenses on the income statement in the accounting period in which they occur.

In this exercise:

<u>Cost of goods manufactured:</u>

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Factory overhead=Factory supervisor salary+ Depreciation expense+Indirect materials= 10,000 +3,700+1,800= $15,500

Total= $87100

Note: Salesperson commissions and  Depreciation expense Delivery equipment are not included in factory overhead

4 0
3 years ago
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