Answer:
The equity will decrease through retained earnigns for 3,000,000 dollars
Explanation:
The company's accounting will distribute the shares at the carrying value of the shares which is $5 per share as for them that is how much they are worth.
600,000 shares x $5 each = $3,000,000
retained earnings 3,000,000 debit
investment on Comption 3,000,000 credit
The equity will decrease through retained earnigns for 3,000,000 dollars
Answer:
Someone with analytical/research skills can assess a situation, ask the right questions of the right people, and identify key challenges and opportunities.
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I believe it's B. can be done for public use.
Answer:
The budgeted production is 35000 units and option B is the correct answer.
Explanation:
The budgeted production for the quarter should be enough to meet the demand for sales for the quarter along with providing enough inventory to meet the desired level of ending inventory.
However, some of the sales for the quarter can be fulfilled using the opening inventory. Thus, we need to determine the net amount of sales that will remain uncovered after selling off the opening inventory.
Remaining sales for the quarter = Sales - Opening Inventory
Remaining sales for the quarter = 30000 - 5000 = 25000 units
The budgeted production is = 25000 + 10000 = 35000 units
Answer:
a. Receiving Sheet.
b. Time tickets.
c. Job Cost sheet.
d. Cost allocation.
e. Material requisitions.
Explanation:
A financial statement is a written report that quantitatively describes a firm's financial health. Under the financial statements is a cash-flow statement, which is used to record the cash inflow and cash equivalents leaving a business firm.
Cash flow statement, also known as the statement of cash flows, contains financial information about operating, financial and investing activities.
Hence, activities that involve the production or purchase of merchandise and the sale of goods and services to customers, including expenditures related to administering the business, are classified as operating activities. All the net income or cash from all operational business activities of a company is recorded as operating activities.
Basically, the financial statements are the formally written records of the business and financial activities of a business entity or organization which includes;
a. Receiving Sheet: prepared when materials that have been ordered are received and inspected.
b. Time tickets: serve as the basis for recording direct labor on a job cost sheet.
c. Job Cost sheet: these make up the work in process subsidiary ledger.
d. Cost allocation: the process by which factory overhead is assigned to a cost object.
e. Material requisitions: serve as the basis for recording materials used.
