Answer:
a. Insurance expense for the month of march
= ($3,840 / 12 months) * 1 month
= $320 per month
b. Balance in prepaid insurance as of March 31
= ($3,840 / 12 months) *11 months remaining
= $3,520
c. Equipment rent expense for the month of April
= ($23,160 / 24 months) * 1 month
= $965
d. Balance in prepaid equipment rental as of April 30
= Nil ($0) as it is not mentioned that payment has been made, it is only mentioned that two year rental contract has been entered into.
Sole trading is a business conducted by one person. A partnership is a business conducted by two or more people. Brainliest please :)
Answer:
Projects D and E should be purchased.
Explanation:
since the firm's capital structure is 60% debt and 40% equity, it can pursue up to 2 projects. Only projects D, E and F have an internal rate of return higher than the company's WACC, so project G is discarded immediately.
Since projects D and E have a higher IRR, they should be selected.
- project D: $70,000, IRR = 18%, debt = $42,000, equity = $28,000
- project E: $85,000, IRR = 15%, debt = $51,000, equity = $34,000
- total equity invested = $62,000
Answer:
A debit to the Finished Goods Inventory account and a credit to the Work in Process account for the final department in the series of process
Explanation:
In the case when the process related to the production is finished so the completed goods and accumulated profits could be transferred
So, the following should be the journal entry
Finished goods inventory XXXXX
To Work in Process Inventory - Final dept XXXXX
(Being the production process is completed recorded)
Here the finished goods is debited as it increased the assets and credited the work in process as it decreased the assets
Answer:
a. Assets = Liabilities + Stockholder's Equity
Assets = Cash (7,000,000*$47) = -$32,90,00,000
b. Liabilities = No Effect
c. Stockholder's Equity = -$32,90,00,000
