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ivanzaharov [21]
3 years ago
14

Prepare a trial balance by placing amounts in the appropriate debit or credit column and determining the balance of the service

revenue account
Business
1 answer:
Law Incorporation [45]3 years ago
4 0
What should I prepare the trial balance from?
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Drag the tiles to the boxes to form correct pairs.
Katyanochek1 [597]

Answer:

The customer returned the shirt, because the athlete’s team number was incorrect - Purchasing Department

The concert venue store ran out of packaging supplies - Production Department

The band’s performance was well received in the market due to good promotional schemes - Marketing Department

The budget for the next year included an additional component for promoting improvements to the arena - Finance Department

Explanation:

Got right on plato

4 0
3 years ago
Razor Inc. manufactures industrial components. One of its products used as a subcomponent in auto manufacturing is Fluoro2211. T
Neko [114]

Answer:

Total contribution margin= $1,884,180

Explanation:

Giving the following information:

Direct Materials 150

Direct Labor 28

Variable Manufacturing Overhead 25

Variable Selling 16

Sales in units= 10,130

Selling price= $420

Direct material cost= 150*1.1= $165

<u>First, we need to calculate the unitary contribution margin:</u>

Unitary contribution margin= selling price - total unitary variable cost

Unitary contribution margin= 420 - (28 + 25 + 16 + 165)

Unitary contribution margin= $186

<u>Now, the total contribution margin:</u>

Total contribution margin= 10,130*186

Total contribution margin= $1,884,180

3 0
3 years ago
The stockholders' equity accounts of Bramble Corp. on January 1, 2022, were as follows.
damaskus [11]

Answer:

Bramble Corp.

1. Journal Entries:

Feb. 1 Debit Cash $27,000

Credit Common Stock $18,000

Paid in excess - Common $9,000

To record the issue of 4,500 shares of common stock at $6 per share.

Mar 20: Debit Treasury Stock $6,300

Credit Cash $6,300

To record the purchase of 900 shares of treasury stock at $7 per share.

Oct. 1: Debit Dividends: Preferred $18,900

Credit Dividends payable $18,900

To record the declaration of 7% cash dividend on preferred stock.

Nov. 1: Debit Dividends payable $18,900

Credit Cash $18,900

To record dividend paid on preferred stock.

Dec. 1: Debit Dividends: Common Stock $112,050

Credit Dividends Payable $112,050

To record the declaration of dividend.

Dec. 31 Debit Dividends payable $112,050

Credit Cash $112,050

To record the payment of dividends.

Closing Journal Entries:

Dec. 31 Debit Income summary $252,000

Credit Retained Earnings $252,000

To close net income to retained earnings.

Debit Retained Earnings $130,950

Credit Dividends $18,900

Credit Dividends - Common $112,050

To close dividends to retained earnings.

2. Stockholders' Equity Section of the Balance Sheet at December 31, 2017:

Preferred Stock (7%, $100 par noncumulative, 4,500 shares authorized)

Issued and outstanding, 2,700 shares = $270,000

Common Stock ($4 stated value, 270,000 shares authorized)

Issued 229,500 shares at $4 = $918,000

Paid-in Capital In Excess of Par Value-Preferred Stock = $13,500

Paid-in Capital in Excess of Stated Value-Common Stock $441,000

Retained Earnings $740,250

Treasury Stock (5,400 common shares) ($42,300)

Total common equity       $2,070,450

Total equity = $2,340,450

3. Payout ratio:

= Total dividends/Net Income

= $130,950/$252,000

= 0.52

Earnings per share

Earnings after preferred dividends/Outstanding common stock

= $233,100/224,100

= $1.04 per share

Return on Common Stockholders' equity:

= $233,100/ $2,070,450 * 100

= 11.26%

Explanation:

a) Data

Preferred Stock (7%, $100 par noncumulative, 4,500 shares authorized)

Issued and outstanding, 2,700 shares = $270,000

Common Stock ($4 stated value, 270,000 shares authorized)

Issued 225,000 shares at $4 = $900,000

Paid-in Capital In Excess of Par Value-Preferred Stock = $13,500

Paid-in Capital in Excess of Stated Value-Common Stock $432,000

Retained Earnings $619,200

Treasury Stock (4,500 common shares) $36,000

Transaction Analysis:

Feb. 1 Cash $27,000 Common Stock, 4,500 shares $27,000

Mar 20: Treasury Stock $6,300 Cash $6,300

Oct. 1: Dividends: Preferred $18,900 Dividends payable $18,900

Nov. 1: Dividends payable $18,900 Cash $18,900

Dec. 1: Dividends: Common Stock $112,050 Dividends Payable $112,050

Dec. 31 Net Income = $252,000

Dec. 31 Dividends payable $112,050 Cash $112,050

Common Stock shares:

Beginning balance = 225,000

Treasury stock              (4,500)

Issued                            4,500

Treasury stock                (900)

Outstanding shares  224,100

Retained Earnings    $619,200

Net Income                252,000

Less Dividends:

Preferred stock            18,900

Common stock          112,050

Retained Earnings $740,250

Treasury stock (4,500 + 900) = 5,400 shares $42,300 ($36,000 + 6,300)

6 0
3 years ago
Franklin Aerospace has a quick ratio of 2.00x, $36,225 in cash, $20,125 in accounts receivable, some inventory, total current as
MrRissso [65]

Answer:

8.28 times

Explanation:

The number of times that Franklin Aerospace sell and replaces its inventory shall be determined through following mentioned formula:

Inventory turnover=sales/inventory balance

First we have to calculate the inventory balance which shall be determined as follows:

Quick ratio=current assets-inventory/current liabilities

2= $80,500-inventory/ $28,175

$56,350=$80,500-inventory

Inventory=$80,500-$56,350=$24,150

Now we will the number of times that Franklin Aerospace sell and replaces its inventory:

Inventory turnover=$200,000/$24,150=8.28 times

8 0
3 years ago
From a neoclassical perspective, which of the following would most likely be viewed as an element that underpins long-run produc
Sliva [168]

Answer: Investment in human capital

Explanation:

  The investment in human capital is one of the important element in the economical concept as it helps in developing the growth and productivity of an economy and also expanding the various types of skills, ideas and knowledge.

The human capital is one of the type of intangible asset in an organization that helps in analyzing the economic value on the basis of the employees skills and ability.

 According to the given question, the investment in human capital is one of the long run growth in the economy. Therefore, Human investment capital is the correct answer.  

3 0
3 years ago
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