I cant do this test. i have the 16 unit career explorations test. any one know answers?

St. Nick Corporation's Toy-Making Supplies account showed a beginning balance of $200 and supplies purchased of $800. There were

iragen [17]

Answer:

3. $600

Explanation:

The computation of the amount is shown below:

= Beginning balance of supplies + purchase made - supplies on hand

= $200 + $800 - $400

= $600

The year end increase in toy making supplies expense is $600

The journal entry would be

Supplies expense A/c Dr $600

To supplies A/c $600

(Being supplies account is adjusted)

7 0

3 years ago

Timothy McGreggor, Attorney, P.C., began the year with total assets of $129,000, liabilities of $77,000, and stockholders’ equit

Ahat [919]

Answer:

Ending stockholders' equity $ 68.000

Explanation:

The net income for the year is Revenue - Expenses

so $ 113,000 - $34,000 = Net Income $ 79,000

Stockholders Equity at end of year

Opening stockholders' equity $ 52,000

Add: Net income for the year $ 79,000

Less: Dividends Paid $ (63,000)

Ending stockholders' equity $ 68,000

7 0

3 years ago

If ticket prices were decreased by 10%, passenger flights would increase by 25%. However, total variable costs would increase by

mrs_skeptik [129]

Answer:

Net income will remain same.

Explanation:

Net income is no change in net income because the sales is increase as the price of decreased. Net impact is zero.

For Example:

Price = 100

Variable cost = 50

Flights = 100

Net income = (100-50) x 100 = $5,000

Revised Calculation

Price = 100 x 90% = $90

Variable cost = 50

Flights = 100 x 125% = 125

Net income = (90-50) x 125 = $5,000

There is no change in the net income.

7 0

4 years ago

A farmer grows wheat and sells it to a miller for $1; the miller turns the wheat into flour and sells it to a baker for $3; the

Serga [27]

Given:

Farmer's price = $1

Miller's price = $3

Baker's price = $6

To find:

The value added by the miller

Solution:

From the given, we can interpret that after purchasing from the farmer, the miller turns the wheat into flour by grinding and he sells the wheat flour to the baker.

This means that the miller added the cost of grinding with the purchasing cost. We can calculate the cost added by miller by subtracting the farmer's price from the miller's price that is $\$3-\$1=\$2$

Therefore, the value added by the miller is $2.

4 0

3 years ago

The Blanket Company (TBC) manufactures two types of blankets. One is made of nylon. The other is made of wool. The budgeted per-

sladkih [1.3K]

Answer:

Results are below.

Explanation:

First, we need to calculate the break-even point in units with the desired profit:

Desired profit= $109,000

Break-even point (units)= (Total fixed costs + desired profit) / Weighted average contribution margin

Weighted average contribution margin= (weighted average selling price - weighted average unitary variable cost)

Weighted average contribution margin= (145*0.8 + 197*0.2) - (75*0.8 + 87*0.2)

Weighted average contribution margin= $78

Break-even point (units)= (827,000 + 109,000) / 78

Break-even point (units)= 12,000

For each product:

Nylon= 12,000*0.8= 9,600

Wool= 12,000*0.2= 2,400

Finally, the contribution margin income statement:

Sales= (9,600*145 + 2,400*197)= 1,864,800

Total variable cost= (9,600*75 + 2,400*87)= (928,800)

Contribution margin= 936,000

Fixed costs= (827,000)

Net operating income= 109,000

7 0

3 years ago