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3 years ago

Tierney Company begins operations on April 1. Information from job cost sheets shows the following.

Business

1 answer:

a_sh-v [17]3 years ago

6 0

Answer:

April 30 Work in Process Inventory $11,200

May 31 Work in Process Inventory $22,300

June 30 Work in Process Inventory $11,100

Explanation:

Calculation for the balance in Work in Process Inventory at the end of each month

April 30 Work in Process Inventory=$6,200+$5,000

April 30 Work in Process Inventory=$11,200

May 31 Work in Process Inventory =$5,000+$ 4,700+$5,600+$7,000

May 31 Work in Process Inventory =$22,300

June 30 Work in Process Inventory= $7,000 + $4,100

June 30 Work in Process Inventory= $11,100

Therefore the balance in Work in Process Inventory at the end of each month will be :

April 30 Work in Process Inventory $11,200

May 31 Work in Process Inventory $22,300

June 30 Work in Process Inventory $11,100

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Fifteen years ago, Mr. Fairhold paid $50,000 for a single-premium annuity contract. This year, he began receiving a $1,300 month

marusya05 [52]

Answer: $1091.61

Explanation:

From the question, we are told that fifteen years ago, Mr. Fairhold paid $50,000 for a single-premium annuity contract and that this year, he began receiving a $1,300 monthly payment that will continue for his life and based on his age, he can expect to receive $312,000. The amount of each monthly payment is taxable income to Mr. Fairhold goes thus:

Based on the question, Mr Fairhold will have a tax free return of the $50,000 paid. The exclusion ratio will be the investment divided by the expected return. This will be:

= $50,000/$312,000

= 0.1603

Since he received monthly payment of $1,300 and exclusion ratio is 0.1603, the tax free return on investment will be:

= $1,300 × 0.1603

= $208.39

Taxable annuity payment will now be:

= $1300 - $208.39

= $1091.61

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3 years ago

Pls help me!! i need help with an essay for business

vodomira [7]

Do u also want some sources?

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3 years ago

Single Corp. is a company with three divisions that produce completely different products. These three divisions must seek fundi

Lorico [155]

Answer:

pooled interdependence.

Explanation:

The single crop is a company with three different division. Three division who work independently and do not interact with each other but work towards the betterment of the whole company can be described as pooled interdependence. Pooled interdependence is a way in which companies operated by designing different department that works independently towards a common goal.

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4 years ago

Smiling Elephant, Inc., has an issue of preferred stock outstanding that pays a $6.40 dividend every year, in perpetuity. If thi

PilotLPTM [1.2K]

Answer:

The required return is 7.92%

Explanation:

Required return is defined as the minimum return which the investor expects to accomplish through investing in the project.

The required return would be computed as:

Required return = Dividend paid each year / Selling price per share

where

Dividend paid each year is $6,40

Selling price per share amounts to 480.80 per share

Putting the values above:

Required return = $6.40 / $80.80

Required return = 7.92%

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3 years ago

The firm was organized and the initial stockholders invested cash of $780. The company borrowed $1,170 from a relative of one of

Eduardwww [97]

Answer:

Follows are the solution to this question:

Explanation:

Cardinal Moving Services Inc. in its Books

Payment Common Journal Dr. Cr.

1 Currency Cash. $780

Joint Vesicles $780

(To Common Stock Record Problem)

2 Currency Cash. $1,170

Paying notes $1,170

(Quantity borrowed from the relative to the record)

3 Material $1,417

Currency Cash. $1,417

(to record buying of 2 mover lawns $624 each and 1 trimmer career $169)

4 Supplies $117

Currency Cash. $117

(The buying of fuel, oil, and waste bags to Record)

5 Costs of ads $221

Cashable Account $221

(Advertising flyer for business training on behalf of To Record)

6 Currency Cash. $605

Receivable Account $312

Income Service $917

(For the very first two weeks of operation, to report service revenue)

7 Spending on wages $546

Currency Cash. $546

(For first two weeks, to report wage expenditure)

8 Supplies $143

Currency Cash. $143

(The acquisition of gasoline, oil, and garbage bags for documentation purpose)

9 Currency Cash. $488

Receivable Account $708

Income Service $1,196

(For the last 2 weeks of the first month, to report service revenue)

10 Wages Cost $663

Payable salaries $663

(For two weeks to report accrual wage expenses)

11 Budget for supplies $221

Supplies $221

(To record the cost of supplies)

12 Currency Cash. $195

Receivable Account $195

(The customer's payment to Record)

working Delivery Costs

Purchases for supplies [$117 + $143] $260

Less: Hand supplies ($39)

Expense of production $221

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3 years ago