Answer:
Journal entry to record accrued wages on December 31, 202x
Dr Wages expense 1,260
Cr wages payable 1,260
Journal entry to record wages expense on Friday, January 2
Dr Wages expense 840
Cr wages payable 840
Journal entry to record payment of wages on Monday, January 5
Dr Wages payable 2,100
Cr Cash 2,100
Answer:
$2,134
Explanation:
Calculation of the amount of the Net sales revenue
First step
Since we were been told that Weston sold the merchandise with a cost of $1,257 for $2,200 with the terms of 3/15 this means we are going to find the 3% of $2,200 calculated as:
3%*$2,200=$66
Second step is to deduct the $66 from the cost of $2,200,in order to find the Net Sales Revenue of Weston Jewelers
Net Sales Revenue =$2,200-$66
Net Sales Revenue=$2,134
Therefore the Net Sales Revenue of Weston Jewelers will be $2,134
The preparation of the income statement for the year ended December 31 is as follows:
Sales $94,000
Cost of goods sold
Begininng finish goods inventory $20,000
Add:Cost of goods manufactured $41,000
Cost of goods available for sale $61,000
Less: Ending finish goods inventory -$17,000
Cost of goods sold $44,000
Gross margin $50,000
Less: Operating Expenses
General and Advertising Expenses $15,000
Selling Expenses $13,000
Total operating Expenses $28,000
Operating Income $22,000
Learn more about the income statement here: brainly.com/question/14308954
Answer:
d. $1,470,000
Explanation:
The computation of the cash realizable value of the accounts receivable is shown below:
= Ending balance of accounts receivable - credit balance of uncollectible amount
= $1,600,000 - $1,30,000
= $1,470,000
For finding out the cash realizable value, we deduct the credit balance of uncollectible amount from the ending balance of accounts receivable
Answer:
Option (d) 9.59%
Explanation:
Data provided in the question:
Annual dividends paid by the Brown jug
$0.61, $0.64, $0.71, $0.82, and $0.88 per share over the past 5 years
Now,
Present value = $0.61
Future value = $0.88
Time = 4 years [as there is no interest for the year 1]
Now,
Future value = Present value × (1 + r )ⁿ
here,
r is the geometric average dividend growth rate
$0.88 = $0.61 × (1 + r )⁴
or
(1 + r )⁵ = 1.4426
or
1 + r = 1.0959
or
r = 0.0959
or
r = 0.0959 × 100% = 9.59%
Hence,
Option (d) 9.59%
