Answer:
1,000,000
Explanation:
As there are constant returns to scale the cost to produce a greater output will grow following a linear fucntion thus,
if 100 units units are produced at a cost of 200,000 dolllars
then 500 units will be produced five times that amount:
200,000 x 500/100 = 200,000 x 5 = 1,000,000
The total cost for 500 units will be a million dollars
Explanation:
Total Sales = 75,000
Bad debt = 75,000*3% = 2250
Entry: Debit Credit
Bad debt expense 2250
Allowance for Doubtful debt 2250
Answer: I)Accrued ReVenue /Service Revenue.
2.-Prepaid Expenses/ Insurance Expenses
3.No Entry
4.Prepaid expenses /depreciation expense
5.Accrued Interest payable/Interest Expenses
6.Accrued expenses/ Interest expenses.
7.Unearned expenses/ Service Revenue
Explanation:The type of adjusting entry/ the related account in the adjusting entry is given below
a)For Accounts Receivable---Accrued ReVenue /Service Revenue.
(b) For Prepaid Insurance---Prepaid Expenses/ Insurance Expenses
(c) Equipment ---- Equipment Exoenses. Equipment is a long-term asset that will not last so the cost of equipment is recorded in the account Equipment. No entry is needed in this account.
(d) For Accumulated Depreciation Equipment-----Prepaid expenses /depreciation expense
e) Notes Payable : Accrued Interest payable/ Interest Expenses
(f) Interest Payable--- Accrued expenses/ Interest expenses
(g) Unearned Service Revenue--Unearned expenses/ Service Revenue
Answer:
Check the following explanation
Explanation:
a) Goods available for sale = Beginning Inventory + Net Purchases
13500 + 17500 = 31000
Cost of goods sold = Goods available for sale - Ending Inventory
31000 - 8100 = 22900
Gross Profit = Net Sales - Cost of goods sold
26500 - 22900 = 3600
b) Net Income for Krug Service Company = Revenues - Expenses
= 31000 - 10500
= 20500
Net Income for Kleiner Merchandising Company = Gross Profit (Computed Above) - Expenses
= 3600 - 2300
= 1300
Answer:
Currently (assuming a 2020 tax schedule), Campbells tax liability = $47,367.50 + [35% x ($438,000 - $207,350)] = $128,095
municipal bonds are not taxed by the federal government, so Campbell will not pay any taxes on the interests earned on the State of New York bonds.
if he earns an additional $16,900, then his tax liability will be:
$47,367.50 + [35% x ($454,900 - $207,350)] = $134,010
his marginal tax rate = 35%
