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Anettt [7]
3 years ago
11

The following transactions have been journalized and posted to the proper accounts: 1. Mark Call invested $7,000 cash in his new

design services business. 2. The business pre-paid the first month's rent of $700 cash. 3. The business purchased equipment by paying $2,000 cash and issuing a note payable for $4,500. 4. The business purchased supplies for $850 cash. 5. The business billed a client for $4,000 of design services completed. 6. The business received $3,000 cash for the completed services. What is the balance in Cash for this design service business
Business
1 answer:
goblinko [34]3 years ago
8 0

Answer:

$6,450

Explanation:

Calculation to determine the balance in Cash for this design service business

Using this formula

Cash balance=Cash Amount invested+Cash Received-Rent- Equipment purchased-Supplies

Let plug in the formula

Cash balance=$7,000+$3,000-$700-$2,000-$850

Cash balance=$6,450

Therefore the balance in Cash for this design service business is $6,450

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Coates Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. T
andrew-mc [135]

Answer:

Selling price per unit= $233.87

Explanation:

Giving the following information:

Overhead:

Estimated overhead= $249,000

Variable manufacturing overhead= $3.80 per machine-hou

Estimated machine-hours= 30,000 machine-hours.

Job X784:

Number of units in the job 50

Total machine-hours 250

Direct materials $ 470

Direct labor cost $5,500

Selling price= 30% mark up

First, we need to calculate the predetermined overhead rate:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= (249,000/30,000) + 3.8

Predetermined manufacturing overhead rate= $12.1 per machine hour

Now, we can determine the total cost of Job X784:

Total cost= 470 + 5,500 + (12.1*250)

Total cost= $8,995

Finally, the selling price per unit:

Unitary cost= 8,995/50= $179.9

Selling price per unit= 179.9*1.30= $233.87

8 0
3 years ago
Most fraud investigators utilize the fraud triangle theory. A new theory called the fraud diamond has been proposed. Which of th
Sonja [21]

Answer:

The correct answer is letter "C": Capability.

Explanation:

American criminologist Donald Cressey (1919-1987) proposed the Fraud Triangle Theory to explain the factor leading to such actions. According to Cressey, those components are <em>Pressure, Opportunity, </em>and <em>Rationalization.</em>

David Wolfe and Dana R. Hermanson introduced in 2004 the Fraud Diamond Theory with the same purpose as Cressey but they considered there are four (4) factors influencing individuals to commit fraud: <em>Pressure, Opportunity, Rationalization, </em>and <em>Capability.</em>

Thus, <em>the Diamond Theory includes the capability factor compared to the Triangle Theory that does not.</em>

7 0
3 years ago
Seaview Company took the following data from their income statement at the end of the current year.Per-unit product cost:$30Gros
MakcuM [25]

Answer:

Gross margin= $40,000

Explanation:

Giving the following information:

Per-unit product cost: $30

Gross margin percentage:40%

Selling and administrative expenses $30,000

Operating income$10,000

We know that:

operating income= gross margin- selling and administrative income

10000= gross margin- 30000

40000= gross margin

5 0
3 years ago
Suppose a new technology makes it possible to perfectly predict the weather on your computer. As a result, there isn't as much o
Zinaida [17]

Answer:

demand of

Fall

decrease

Explanation:

Here are the options to this question:

1.expect the (supply of/ demand of )

2.forecasters to (increase/ decrease)

3. weather forecasters to (decrease/ increase)

The new technology would reduce the need for weather forecasters. So t.v. stations and radios would no longer employ weather forecasters and might even lay off some forecasters. So the demand for forecasters would fall.

Due to the reduced demand for forecasters, there would be a large number of unemployed forecasters with no one willing to employ them. This would lead them to a reduction in their salary. When supply exceeds demand, prices fall.

I hope my answer helps you

6 0
3 years ago
Does each Subway $5 Footlong cost the franchisee more than $5? Subway, the fast food restaurant franchise, recently announced it
g100num [7]

Once upon a time there was a american male named NF. He was the lord of the flies. He ruled all flying insects and he used them against his enemies. Which were humans and spiders. You see, humans kill all bugs that they see... and spiders feed on whatever FLIES into their web. In NF's eyes, they were his insects' natural predators. So what he would do is get a group of flying insects (that contains like 100,000 a pack) and when humans try to attack or swat at them in any way... they would eat all the flesh of the bones on their face in 2.5 seconds. His buddies were so dangerous and well known that this was a worldwide thing. Nf wasn't always a man with a giant army behind him. He grew up poor... living on a bus stop. No mom. No Dad. Nf was so filthy, that bugs had surrounded him everywhere he went. At nighttime, when he was bored, he'd always talk to insects. And his imagination was so big, That he thought they talked back. He was a ten at the time. Sometimes, when he asked for money, younger children used to laugh at him and called him “dirty boy.” He was walking to school one day. And a teacher had noticed him... she called out "where are your parents?". He didn't respond... but walked  faster. She tried her best to keep up with him... but she couldn't. "WAIT NF.. HOW ARE YOU RUNNING SO FAST!!" She had reached the limit on her rusty old car. Which was only ninety-five miles per hour. His teacher got out of her vehicle and put her glasses on... and saw what was really going on. A huge group of insects (his lil crew) had been flying him. She had a heart attack and died  once she realized what was really going on. There was a tale going around that when they found the body (body?), there was no meat... or no skin. Nf was then considered a very dangerous boy because he was the last one to see her before her death day. They had absolutely no evidence on how he committed the murder, but still... he was guilty. HE WAS ARRESTED AT THE AGE OF TEN. No prisoner had enough guts to even go near him. HE SERVED 2 YEARS FOR SOMETHING HE NEVER DID. He never had faced hunger... because his flies used to come in and bring him food. One day a police officer had discovered the group of flies on their way to the young boy. Police officer Pete was frightened and shot that bad boy twice. BOOM!! BOOM!! He hurt 500 flies. And because of the speed of the bullet... it had broken through the metal bars... and shot NEAR Nf's face. He was afraid. And cried for help. A pack of police officers had rushed through the door and saw officer Pete lying on the ground. Dead. No meat. No skin. No living thing besides NF. The flies had disappeared . How? No one ever knew (at the moment). But they rewinded the security cameras. And saw exactly what happened. NF was set free out of jail. Everyone that saw him called him “Lord of the Flies”. They tried to put him into a foster home.... but the flies quickly picked him up.The people didn't even bother to chase after him. Or try to find him. They knew that THOSE "INSECTS" were his bestest buddies. The word flew around quickly. Don't overthink the situation. Nf was no super villain or anything... he was just simply The Lord of the Flies.                                                                      

5 0
3 years ago
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