Explanation:
Conversion costs = Direct labor + Factory overhead
7,800,000 = Direct labor + 5,400,000
Direct labor = $2,400,000
First option is the correct option.
I know this much only.
Answer:
a. Reversal entry:
Debit Rent expense $4,650
Credit Miscellaneous Expense $4,650
Correct Entry:
Debit Rent expense $4,650
Credit Cash $4,650
b. Reversal entry:
Debit Accounts payable $3,700
Credit Cash $3,700
Correct Entry
Debit Cash $3,700
Credit Accounts Receivable $3,700
Explanation:
Reverse entry is to simply close to zero the original entry that has been made in mistake. Afterwards, record the correct entry to properly account the transaction.
To reverse the previously made entry, we simply debit what is credited and debit what is credited.
a. We need to close the rent expense credited by debiting it and credit the miscellaneous expense that is previously debited to zereod out the mistake recording. Then to record the correct entry, Debit Rent expense and Credit Cash at the amount $4,650
b. Just ike what we did on the previous transaction, we will debit the Accounts payable and credit the cash that has been recorded by mistake to zereod out the balance and then make the correct entry. Debit Cash $3,700 and credit Accounts receivable $3,700.
Answer
The answer and procedures of the exercise are attached in a microsoft excel document.
Explanation
Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.
Answer:
Holding period yield is 114.97%
effective yield is 8.72%
Explanation:
holding period yield=(Price at call-initial price+coupon payments)/initial price
=($970-$935)+(13*$80)/$935
=($35+$1040
)/$935
=$1075/$935
=114.97%
The effective yield is the yield to call which can be computed using the excel rate formula:
=rate(nper,pmt,-pv,fv)
nper is the number of payments before the call which is 13
pmt is the periodic payment by bond which is $1000*8%=$80
pv is the current market price of $935
fv is the bond price at end of 13 years at $970
=rate(13,80,-935,970)
rate=8.72%
Answer: b. It can identify transactions where the transaction date is in a future period and the cleared date is in the statement period
.
Explanation:
QuickBooks online uses machine learning based on the transactions that it conducts with its millions of users so that it provides a better experience for those same users.
One way machine learning is used is in reconciliation where it identifies transactions that may have a future date but by virtue of their clearing dates should be in the current period and so may have been hidden.
