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ELEN [110]
2 years ago
7

A company that is continually using up its cash is considered to have a high

Business
2 answers:
juin [17]2 years ago
8 0
The answer is C. Burn rate.
Nataly [62]2 years ago
4 0
I think your answer would be c.sorry if I’m wrong.
You might be interested in
Morris Company applies overhead based on direct labor costs. For the current year, Morris Company estimated total overhead costs
Mekhanik [1.2K]

Answer:

Overhead absorption rate

= <u>Budgeted overhead </u>               x 100

  Budgeted direct labour cost

= <u>$400,000 </u>        x 100

   $2,000,000

= 20% of direct labour cost

Overhead applied

= 20% x $1,800,000

= $360,000

The balance in the factory overhead account is $360,000 debit

The correct answer is B

Explanation:

In this case, we need to calculate the overhead application rate, which is the ratio of budgeted overhead to budgeted direct labour cost multiplied by 100. Overhead applied is calculated as overhead application rate multiplied by actual direct labour cost.

6 0
3 years ago
You have been elected to the governing board of your church. At the first meeting you attend, mention is made of building a new
tigry1 [53]

Answer:

1. Cash in hand and at bank balance

2. Is there land and buildings available

3. Are there any accumulated debt owed by the church

4. Collections or record of church document.

Explanation:

1. Cash in hand and at bank balance. This an example of a current asset. The first question is how much does the church have as cash and bank balance. The reason is to ascertain whether the fund will be sufficient for the new building project.

2. Land and Buildings availability. This is a fixed asset. The board would enquire whether there is an already existing building or land with which to begin the building project.

3. Debt or loan owed by the church. Loan forms part of liability in a balance sheet. Another question to be asked is whether the church is indebted to a bank or financial institution. This will determine whether or not to continue with the building project.

4. Record of church document. Does the church have any existing document with which to support the new building? This is pertinent as to begin or abandon the plan to build a new church.

3 0
3 years ago
Differential Analysis for Machine Replacement Boyer Digital Components Company assembles circuit boards by using a manually oper
jasenka [17]

Answer:

Continue with old machine

Explanation:

                                   Differential Analysis

Continue with Old Machine (Alt.1)or Replace Old Machine (Alt.2

                                             May-04

                    Continue with Old     Replace Old           Diff. effects                                        Machine (Alt. 1)      Machine (Alt.2)             (Alt. 2)  

Revenues:    

Sale ( 5 years)   803,500             803,500                       0

Costs:    

Purchase price 0                       -105,500                  105,500

Direct materials  -274,000         -274,000                      0

( 5 years)

Direct labor        -190,000                0                       -190,000

( 5 years)

Power and          -17,500               -94,000               76,500

maintenance

Taxes, insurance  -6,500              -21,000                14,500

etc ( 5 years)

Selling and          -190,000             -190,000                0

administrative

expense ( 5 years)

Total expenses    -678,000            -684,500             6,500

Profit (Loss)          $125,500              $119,000           $6,500

Hence it is advantageous to continue with old machine. Net incremental advantage of continuing with old machine = $6,500

6 0
3 years ago
Magazine sells subscriptions for $60 for 30 issues. The company collects cash in advance and then mails out the magazines to sub
shutvik [7]

Answer:

a. Revenue is earned when when service or product are delivered to client. Thus Seacoast Magazine should recognize the revenue when it mails the magazines to its subscribers.

b. Total amount received is $60 for 30 issues.

Amount for 1 issues = Total cost / Number of issues of magazines = $60/30 = $2 per issue

Amount of 5 issues = $2 * 5 = $10

Therefore, Seacoast Magazine should record revenue $10 for 5 issues.

7 0
2 years ago
The following are transactions and events of the general fund of Sycamore Hospital, a not-for-profit entity, for the 20X6 fiscal
BigorU [14]

Answer:

1. Dr Accounts receivable 6,600,000

Cr Patient services revenue 6,600,000

2. Dr Nursing services expense 2,100,000

Dr Other professional services expense 1,280,000

Dr Fiscal services expense 230,000

Dr General services expense1,520,000

Dr Bad debts expense 138,000

Dr Administration expense250,000

Dr Depreciation expense 480,000

Cr Cash 4,794,000

Cr Allowance for uncollectibles 138,000

Cr Accumulated depreciation 480,000

Cr Accounts payable 213,000

Cr Inventory 210,000

Cr Donated services 163,000

3. Dr Patient services revenue210,000

Cr Accounts receivable210,000

4. Dr Cash 200,000

Cr Net assets released from program use restrictions 200,000

5. Dr Cash 230,000

Cr Net assets released from equipment acquisition restriction 230,000

6.Dr Cash 150,000

Cr Contributions-Unrestricted 150,000

7. Dr Cash 6,455,000

Cr Allowance for uncollectibles 65,000

Cr Accounts receivable 6,390,000

8. Dr Investment securities 90,000

Cr Unrealized holding gain on investment securities 90,000

Explanation:

Preparation of the Journal entries for Sycamore Hospital.

1. Since we were told that the company Provided a total of the amount of $6,600,000 in patient services this means that the transaction will be recorded as:

Dr Accounts receivable 6,600,000

Cr Patient services revenue 6,600,000

2. Based on the information given we were told that the company had total operating expenses of the amount of $5,998,000 which means that the transaction will be recorded as:

Dr Nursing services expense 2,100,000

Dr Other professional services expense 1,280,000

Dr Fiscal services expense 230,000

Dr General services expense1,520,000

Dr Bad debts expense 138,000

Dr Administration expense250,000

Dr Depreciation expense 480,000

Cr Cash 4,794,000

Cr Allowance for uncollectibles 138,000

Cr Accumulated depreciation 480,000

Cr Accounts payable 213,000

Cr Inventory 210,000

Cr Donated services 163,000

3. Since we were told that Allowed contractual adjustments was the amount of $210,000 which is a deductions from gross patient revenue, which means that the transaction will be recorded as:

Dr Patient services revenue210,000

Cr Accounts receivable210,000

4. Based on the information given we were told that the company received a transfer of the amount of $200,000 for the payment of approved operating costs which means that the transaction will be recorded as:

Dr Cash 200,000

Cr Net assets released from program use restrictions 200,000

5. Since the company received a transfer of the amount of $230,000 from the temporarily restricted plant fund in order to purchase new equipment for the hospital, this means that the transaction will be recorded as:

Dr Cash 230,000

Cr Net assets released from equipment acquisition restriction 230,000

6.Since the company received the amount of $150,000 of unrestricted gifts, this means that the transaction will be recorded as;

Dr Cash 150,000

Cr Contributions-Unrestricted 150,000

7. Since the company collected accounts receivable except for the amount of $65,000 which was written off, this means that the transaction will be recorded as:

Dr Cash 6,455,000

(6,390,000 +65,000)

Cr Allowance for uncollectibles 65,000

Cr Accounts receivable 6,390,000

(6,600,000-210,000)

8. Based on the information given we were told that the company reported the amount of $90,000 as an increase in the market value, this means that the transaction will be recorded as:

Dr Investment securities 90,000

Cr Unrealized holding gain on investment securities 90,000

8 0
3 years ago
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