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vitfil [10]
3 years ago
8

WV Construction has two divisions: Remodeling and New Home Construction. Each division has an on-site supervisor who is paid a s

alary of $90,000 annually and one salaried estimator who is paid $50,000 annually. The corporate office has two office administrative assistants who are paid salaries of $54,000 and $39,000 annually. The president's salary is $159,000. How much of these salaries are common fixed expenses
Business
1 answer:
KengaRu [80]3 years ago
4 0

Answer:

$252,000

Explanation:

Calculation to determine How much of these salaries are common fixed expenses

Office administrative assistant $ 54,000

Office administrative assistant $39,000

President's salary $159,000

Common fixed expenses $ 252,000

($54,000+$39,000+$159,000)

Therefore How much of these salaries are common fixed expenses will be $252,000

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The account​ Paid-In Capital from Treasury Stock Transactions has a credit balance of​ $2,000. The corporation resells 450 share
ioda

Answer:

b. false

Explanation:

The journal entry is shown below:

Cash A/c Dr $1,350               (450 shares × $3)

Paid in capital - Treasury stock $2,000

Retained Earnings A/c Dr $1,150

              To Treasury Stock A/c $4,500            (450 shares × $10)

(Being treasury stock is sold at lower price and the remaining amount would be debited to the retained earning account)

Hence, the given statement is false

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4 years ago
A customer comes into the store to return a gallon of milk. She says she bought it earlier today, but the due date on the gallon
Sloan [31]

<em>You tell them it's too late to exchange since it already expired.</em>

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4 years ago
A rich uncle wants to make you a millionaire. How much money must he deposit in a trust fund paying 12% compounded quarterly at
Reptile [31]

Answer:

P=24.92 per quarter

Explanation:

this problem can be solved applying the concept of annuity, keep in mind that an annuity is a formula which allows you to calculate the future value of future payments affected by an interest rate.by definition the future value of an annuity is given by:

s_{n} =P*\frac{(1+i)^{n}-1 }{i}

where s_{n} is the future value of the annuity, i is the interest rate for every period payment, n is the number of payments, and P is the regular amount paid. so applying to this particular problem, we have:

s_{60*4} =P*\frac{(1+(0.12/4))^{60*4}-1 }{(0.12/4)}

we will asume that deposits are made as interest is compounded it is quarterly thats why we multiply 60 and 4 and also we divide 12% into 4, so:

1,000,000 =P*\frac{(1+(0.12/4))^{60*4}-1 }{(0.12/4)}

solving P

P=24.92

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3 years ago
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Answer:

The journal entries are as follows:

(i) (a) Under allowance for doubtful account method:

Allowance for doubtful accounts A/c Dr. $13,300

              To accounts receivable                           $13,300

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(b) Under direct write off method:

Bad debt expenses A/c Dr. $13,300

          To accounts receivable         $13,300

(To record the Bad debts written off)

(ii) Bad debts expenses A/c Dr. $15,300

               To Allowance for doubtful accounts $15,300

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