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2 years ago

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

Business

1 answer:

a_sh-v [17]2 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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The following is the operating section of the statement of cash flows (direct method) of Battery Builders, Inc.: Collections fro

Marizza181 [45]

Answer and Explanation:

The computation is shown below:

Sales ($28,000 + $3,000) $31,000

Less: Cost of goods sold ($13,000 + $2,000 - $3,000) -$12,000

Operating expenses($9,000 - $2,000) -$7,000

Depreciation expense -$4,000

Income tax expense ($4,000 + $1,000) -$5,000

Amortization expense -$1,000

Gain on sale of equipment $2,000

Net income $4,000

Net income $4,000

Add:

Depreciation $4,000

Write-off of intangibles $1,000

Less:

Gain on sale of equipment -$2,000

Cash flow before working capital changes $7,000

Increase in accounts receivable -$3,000

Increase in inventory -$3000

Increase in accounts payable $2000

Decrease in accrued payable -$2000

Increase in deferred income taxes payable $1,000

Net Cash from Operations $2,000

6 0

2 years ago

Prior to any trip it is important to do all of these except:

ivanzaharov [21]

<span>Checking the upholstery is not one of the important pre-trip tasks. This is not something that will affect anything other than the passenger comfort during the trip. Making sure that one has enough gas and other fluids in the car is much more important to the overall trip.</span>

8 0

3 years ago

Suppose a bank enters a repurchase agreement in which it agrees to buy Treasury securities from a correspondent bank at a price

Cloud [144]

Answer:

Yield with 6-day maturity is 7.70%

Yield with 18-day maturity is 2.57%

Explanation:

The formula for yield on repurchase is given as:

y = ( PAR – P ) / P x (360 / t )

P=Purchase price

PAR=Repurchase price

t= number of days of the transaction

In first scenario,PAR is $39 million,P is $38.95 million and t=6

y=($39000000-38950000)/38950000*(360/6)

y=7.70%

In the second scenario,details remained the same except for t that is 18

y=($39000000-38950000)/38950000*(360/18)

y=2.57%

This implies the longer the maturity the lesser the yield since yield is computed on daily basis.

3 0

3 years ago

Cost outlays are recorded as an expense when they are incurred to earn revenue in the _______________ accounting period

Deffense [45]

Answer:

Present

Explanation:

An outlay cost is a cost incurred at the time when we have to execute the strategy or purchasing an asset. It can be paid to the vendors for purchasing the goods like for inventory. So this cost should be recognized as an expense when they are incurred in order to earn the revenue in the current or present accounting period

8 0

2 years ago

Cnooc, a Chinese public-sector company, has made a bid to purchase Canada’s Nexen, a big oil company, for C$ 15.1 billion in Jun

Phoenix [80]

Answer:

351,830,000 Yuan

Explanation:

Investment value = C$ 15.1 billion

Value in Yuan in June 2012 = C$ 15.1 billion x 6.3698 Yuan/C$

Value in Yuan in September 2012 = C$ 15.1 billion x 6.3465 Yuan/C$

The difference in Yuan if Cnooc has purchased Nexen in September instead of June is:

$D= 15,100,000,000*(6.3698 - 6.3465)\\D= 351,830,000 \ Yuan$

Cnocc saves 351,830,000 Yuan

3 0

3 years ago