Answer:
$28,000
Explanation:
The cost per unit, under absorption costing is given by the total producing cost divided by the number of units produced.
Cost = Units x (Direct materials + Direct labor) + Variable and Fixed overhead
The cost per unit is:
The value of inventory is given by the remaining units in inventory multiplied by the cost per unit
The value of inventory, under absorption costing, is $28,000.
Answer and Explanation:
The preparation of the partial income statement is presented below:
Blossom Corporation
Income Statement (Partial)
For the Year 2020
Particulars Amount (in $)
Income from continuing operations 10,895,300
Income from discontinued operations:
Less:
Loss from disposal of Restaurant net of tax -194,400
Loss from the operation of discontinued -321,800
Total expense -516,200
Net income 10,379,100
Earning per share
Income from continued operations (10,895,300 ÷10,000,000) $1.09
Loss from discontinued operations (516,200 ÷ 10,000,000) ($0.05)
Earning per share $1.04
Answer:
A. a debit to Interest Expense for $ 36, 000
Explanation:
Based on the information given we were told that Flipco has note payable on January 1, 2018, of the amount of $800,000 and on December 31 we were told that the loan requires annual principal payments of the amount of $80,000 in addition with 5% interest. This means that the Journal entry to record the transaction on December 31, 2019 will includes a Debit to interest expense for $36,000 calculated as :
Interest expense= $800,000-$80,000
Interest expense=( $720,000* 5%* 12/12)
Interest expense =$36,000
Therefore the Journal entry to record the annual payment on December 31, 2019 will includes :
A Debit to interest expense for $36,000
Answer: Exporting
Explanation: Export refers the process in which good produced in one country is purchased by some another country.
In the given case, Jerzey is using the method of counter trade for the purpose of exporting. In counter trade, the two firms exchange their product on the basis of their particular needs.
Thus, from the above we can conclude that the right answer is option D.
