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3 years ago

On April 1, 20Y8, Maria Adams established Custom Realty. Maria completed the following transactions during the month of April:

Business

1 answer:

KiRa [710]3 years ago

4 0

Answer:

Cash + Supplies = Accounts Payable + common stock - dividends + sales commission - Rent expense.

$20,000 + 2,520 = $2,520 - $1,590 + 25,700 - $5,040 - $8,000 - $2,420 - $1,160 - $3,030 - $850

Explanation:

The effect of transaction is listed above. The effect will be on the balance sheet. These transaction have impacts on various accounts assets side is impacted and liability side is impacted. Equity is affected when there is payment of dividends and stock capital issuance.

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ompute the plantwide predetermined overhead rate. 2. During the year, Job 400 was started and completed. The following informati

Salsk061 [2.6K]

Answer:

Instructions are below.

Explanation:

Giving the following information:

1. We weren't provided with enough information to calculate the plantwide predetermined overhead rate. <u>But, I can provide the information required as an example and the formulas necessary.</u>

Estimated overhead= 1,200,000

Estimated machine-hours= 350,000

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

Predetermined manufacturing overhead rate= 1,200,000/350,000

Predetermined manufacturing overhead rate= $3.43 per machine hours.

2. Job 400:

Direct materials $320

Direct labor cost $240

Machine-hours used 36

Total manufacturing cost= 320 + 240 + 36*3.43

Total manufacturing cost= $683.48

3. Job 400= 50 units

Unitary cost= 683.48/50= $13.67

4. Moody uses a markup percentage of 120% of its total manufacturing cost

Selling price per unit= 13.67*1.2= $16.404

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3 years ago

After graduating with his MBA and returning from his trip to find no shoes from

lukranit [14]

Answer:

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3 years ago

Q 4.24: At the end of March, Paul’s Painting hired five temporary employees to work on a project that began on April 5 and ended

Nookie1986 [14]

Answer:

At the end of March, Paul’s Painting hired five temporary employees to work on a project that began on April 5 and ended on April 28. Paul’s received 100% of the total payment for the project on May 3. In this situation, both cash basis accounting and GAAP require that Paul’s recognize the employees’ total salary expense in April.

Explanation:

A collection of accounting rules and standards usually followed, for financial reporting is known as GAAP (generally accepted accounting principles) .

For businesses, GAAP needs accrual accounting.

Accrual accounting operates on the basis of matching both revenue and expenses. Revenues and the related expenses occur concurrently, though the cash transaction concerning thereto might happen in some other period.

In the situation given in the question, the revenue from the project is earned in April, subsequently, the salary expense related to that work should also be recognized in the same period due to an accrual basis.

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3 years ago

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kifflom [539]

The similarity of negative growth rate and zero growth rate is that there is no growth towards a positive output. For example, if the business is currently in either state, it is not earning. It may be very stagnant (for zero growth rate) or losing (for negative growth rate). Which either the case may be, it is not beneficial to the business owner.

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3 years ago

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For each of the following examples, explain whether it is a case of external or internal economies of scale:

777dan777 [17]

Whether it is a case of external or internal economies of scale:

A. A number of firms doing contract research for the drug industry are concentrated

Larger changes within the industry lead to external economies of scale, so as the industry expands, the average cost of doing business decreases.

when external economies of scale exist?

External economies of scale take place when an industry as a whole expands and businesses profit from lower long-term average costs. External economies of scale are also known as advantageous external outcomes of industrial development.

An external economy of scale is shared by competitors, internal economies of scale provide larger competitive advantages.

To learn more about external economies refer to:

brainly.com/question/20354469

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8 0

1 year ago