The revenue is defined as the total income a business receives from selling a good or service to its customers. The cost is defined as the total expenses that are incurred in the production of goods or services by any individual or organisation.
Answer:
1) The net income for the period ended December 31, 2018, is 68103.
2)The total liabilities and stockholders equity is 261615.
Explanation:
1) 1920 sales revenue is an unearned revenue since delivery will be made in 2019
Interest payable on note oct 1 :Interest = [1 Oct - 31 Dec]
Interest receivable on march 1 :Interest= [1 Mar -31 -Dec]
Supplies used = 1850 unadjusted -980 ending inventory = 870
Insurance expired for the period = [1april -31 dec ]
Answer:
3,600 kilograms
Explanation:
Break even = Total fixed cost / Contribution margin per kg.
Total fixed cost = Plant depreciation + Other plant costs + Corporate salaries + Advertising
= €8,000 + €15,000 + €10,000 + €3,000
= €36,000
Sales commission = Selling price * 5%
= €20 * 5%
= €1 per kg
Variable cost per kg = Direct materials + Direct labor + Variable factory overhead + Sales commission
= €4 + €2 + €3 + €1
= €10 per kg
Contribution margin per kg = Selling price - Variable cost per kg
= €20 - €10
= €10 per kg
Break even = Total fixed cost / Contribution margin per kg.
= €36,000 / €10
= 3,600 kilograms
Answer:
In his traditional role Finance
Manager is responsible for
Select one:
a
Running the business smoothly
b
Proper utilisation of the funds
c
Arranmgement of financial
resources
d
Efficient management of cash
Explanation:
In his traditional role Finance
Manager is responsible for
Select one:
a
Running the business smoothly
b
Proper utilisation of the funds
c
Arranmgement of financial
resources
d
Efficient management of cash
Answer and Explanation:
<u>LEE INC.</u>
<u>Effect of events on the general ledger accounts</u>
<u>Event Cash Account land Account Common stock Retained</u>
<u> receivable Payable Earnings</u>
Sales
on account 62,000 62,000
collected 51,000 -51,000
Expenses 39,000 -39,000
Account
Payable -31,000 -31,000
Issue of stock 40,000 40,000
Purchase land -21,000 21,000
<u>Totals 39,000 11,000 21,000 8,000 40,000 23,000</u>
The computation of the amount of revenue recognized would be equivalent to the service performed i.e. $62,000