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Allushta [10]
2 years ago
5

Record the journal entry that would be made by a nongovernmental, not-for-profit organization involved in medical research.

Business
1 answer:
ra1l [238]2 years ago
6 0

Answer:

S/n   Journal Entry                                            Debit         Credit

1       Cash                                                          $1,500

             Contributions-Unrestricted                                   $500

             Contributions-Temporarily Restricted                  $1,000

2     Pledges Receivable                                  $700,000

              Contributions-Permanently Restricted               $700,000

3     Medical Research Program Expenses     $1,200

              Contributions-Unrestricted                                  $1,200

4     Medical Research Program Expenses     $5,000

              Cash                                                                      $5,000

       Net Assets Release - Satisfaction of       $5,000

       Program Restrictions - Temporarily

       Restricted

               Net Assets Released- Satisfaction of                 $5,000

               Program Restrictions-Unrestricted

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Baker Inc. acquired equipment from the manufacturer on 10/1/2018 and gave a noninterest-bearing note in exchange. Baker is oblig
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4%

Explanation:

Interest included in $918000 is for six months from 10/1/18 to 4/1/12.

Interest for first three month period from 10/1/18 to 31/12/18 = $9000.

This implies that :

Interest from 1/1/19 to 4/1/19 = $9000.

Principal amount excluding interest due:

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= $900,000

Interest rate:

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Products that appeal to mothers have evolved since mothers are no longer homogeneous like before. Instead, there are traditional
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Recent financial statement data for Harmony Health Foods (HHF) Inc. is shown below. Current liabilities $ 180 Income before inte
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Answer:

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3-30 Operating leverage. Cover Rugs is holding a 2-week carpet sale at Josh’s Club, a local warehouse store. Cover Rugs plans to
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Answer:

The step by step answer to your problem is given below:

Explanation:

1A) Break even point for option 1:    

Sales- Variable cost= Fixed cost    

Q* $950-Q*$760= $7410    

Q*$190= $7410  

Q=$7410/$190  

Q= 39 carpets

1B) Breakeven point for Option 2    

Sales- variable cost-rent cost= 0    

Q*$950- $760*Q- (Q*950*10%)= 0    

95Q= 0    

Q= 0

2. At what level of revenues will Cover Rugs earn the same operating income under either option?

Operating income under Option 1 = $190Q - $7140

Operating income under Option 2 = $95Q

We have to find Q such that $190Q - $7140 = $95Q

Q=$7410/$95= 78 Carpets

Revenue= $950 x 78 = $74,100

For Q = 78 Carpets, operating income under both option 1 and 2 will be = $7410

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For Q > 78, say 79 carpets:

Option 1 gives operating income= (190*79) - 7410= $7600

Option 2 gives operating income= 95*79= $7505

So color rugs will prefer Option 1.

For Q < 78, say 77 carpets:

Option 1 gives operating income= (190*77) - 7410= $7220

Option 2 gives operating income= 95*77= $7315

So color rugs will prefer Option 2.

3. Calculate the degree of operating leverage at sales of 65 units for the two rental options.

Operating Leverage= \frac{Contribution margin}{Operating Income}

= Contribution margin per unit x Numbers of Carpet Sold= Contribution Margin

Under Option 1,

Contribution Margin per unit= $950-$760=$190,

Operating income= $190*65-$7410= $4940.

Degree of Operating Leverage= \frac{190*65}{6175}

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Under Option 2,

Contribution Margin per unit= $950-$760-$760-0.10*$950=$95,

Operating income= $95x65-$0= $6175.

\frac{95*65}{6175}

=1.0

4. Briefly explain and interpret your answer to requirement 3.

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