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3 years ago

Sales has being overcast by 5000

Business

1 answer:

Leno4ka [110]3 years ago

7 0

Answer:

When sales are overcast, it means that the amount of credit sales recorded is higher than the actual amount of credit sales made.

To fix this, send the overcasted amount to the Suspense account and debit the Sales account.

Date Account Title Debit Credit

Sales $5,000

Suspense a/c $5,000

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J&J Materials and Construction Corporation produces mulch and distributes the product by using dump trucks. The company use

lilavasa [31]

Answer:

$3,999.04 F

Explanation:

Calculation to determine the flexible-budget amount for variable manufacturing overhead?

First step is to calculate the Budgeted fleet hours per unit

Budgeted fleet hours per unit = 568 ÷ 710

Budgeted fleet hours per unit = 0.8

Second step is to calculate the Budgeted fleet hours allowed for 660 truckloads

Budgeted fleet hours allowed for 660 truckloads

Budgeted fleet hours allowed for 660 truckloads = 660 × 0.8

Budgeted fleet hours allowed for 660 truckloads = 528

Third step is to calculate the Budgeted variable overhead rate per machine hour

Budgeted variable overhead rate per machine hour = $89,460 ÷ 528

Budgeted variable overhead rate per machine hour = $169.43

Fourth step is to calculate the Flexible-budget amount

Flexible-budget amount = 528× $169.43

Flexible-budget amount= $89,459.04

Now let calculate the Flexible-budget variance

Flexible-budget variance = $85,460 − $89,459.04

Flexible-budget variance= $3,999.04 F

Therefore the Flexible-budget variance is $3,999.04 F

4 0

3 years ago

retirement plans play a key role in making a company competitive in the marketplace because they help the employer to attract an

Rama09 [41]

What do you mean by Retirement planning?

It refers to the distribution of savings or revenue towards retirement in a financial setting. Retirement planning is to achieve financial independence.

As a result, financial consultants frequently advise retirees to have a source of income that provides approximately 70% of their salary while working in order to live comfortably after retirement.

Main Content

True

Offering a tax-advantaged retirement plan to employees has two primary advantages: attraction and retention.

To learn more about Retirement planning

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7 0

2 years ago

Which of the following is the least important in the sales process?

Zinaida [17]

Answer:

O b. customer's issues

Explanation:

In the sales process, the salesperson has to be attentive to figure out what the customer needs. The product or service on offer must be able to satisfy the customer's needs. Care must be exercised to ensure the product is within the customer's price range.

Customer issues may refer to other things that may be disturbing the customer. They are different from customers' concerns. While customer concerns are classifications that a client seeks, customer issues are personal 'problems,' making them sensitive.

5 0

3 years ago

Assume that on December 31, 2019, Kimberly-Clark Corp. signs a 10-year, non-cancelable lease agreement to lease a storage buildi

BlackZzzverrR [31]

Answer:

a. Journal Entries:

1.Right to Use Asset (Dr.) $449,478

Lease Liability (Cr.) $449,478

(To record the lease)

2. Lease Liability (Dr.) 67,299

Cash (Cr.) 67,299

(To record the lease payment)

3. Amortization Expense (Dr.) 36,185

Right to Use Asset (Cr.) 36,185

(To record amortization of asset)

4. Lease Liability (Dr.) 36,085

Interest Expense (Dr.) 30,614

Cash (Cr.) 66,699

(To record Interest Expense)

Explanation:

Amortization expense is the annual lease payment less the PV of use of Asset.

3 0

3 years ago

Ginger, Inc., has declared a $6.40 per share dividend. Suppose capital gains are not taxed, but dividends are taxed at 10 percen

saveliy_v [14]

Answer:

$88.74

Explanation:

Ginger incorporation has declared a dividend of $6.40 per share

The dividends are taxed at 10%

= 10/100

= 0.1

The company's stock is sold at $94.50 per share

Therefore, the ex-dividend price can be calculated as follows

Ex-dividend price= Current selling price-dividend(1- tax rate)

= $94.50-$6.40(1-0.10)

= $94.50-$6.40(0.9)

= $94.50-$5.76

= $88.74

Hence the ex-dividend price is $88.74

3 0

4 years ago