Answer:
December 31, 2021
Debit : Dividends $28,500
Credit : Shareholders for Dividends $28,500
Explanation:
The Dividends declared present a present obligation by the entity to its shareholders.
Answer:
Option (D) is correct.
Explanation:
Given that,
Beginning work in process = $4,000
Ending work in process in finishing department = $6,000
Cost transferred = $47,000
Direct material = $15,000
Direct labor = $46,000
Overhead = $22,000
Cost incurred in finishing department:
= Beginning work in process + Cost transferred + Direct material + Direct labor + Overhead
= $4,000 + $47,000 + $15,000 + $46,000 + $22,000
= $134,000
Cost of goods transferred to the Finished Goods Inventory account:
= Cost incurred in finishing - Ending work in process
= $134,000 - $6,000
= $128,000
Answer:
Residual income= $36,000
Explanation:
Residual income is the income that is generated in excess of the minimum required rate of return, which in this case is 10%. Any income above 10% return is considered as residual income. In this case the investment is 1,800,000 and 10% of that is 180,000 (0.1*1,800,000). So any income made above $180,000 will be residual income. In order to find the residual income we subtract the minimum income required from the actual income.
In this case the minimum income required is 180,000 and the actual operating income is 216,000 so residual income=
216,000-180,000= $36,000
<u>The grant available to third-or fourth-year college student:</u>
The National Science & Mathematics Access to Retain Talent Grant (National SMART Grant) is the grant given to the third or fourth year college students who want to do major in scientific or mathematical fields like physical, life, engineering, mathematics, medical, languages, etc.
To apply for the SMART grant students apply through free application of federal student aid and then if they receive the grant they can do their higher studies in their preferable fields which come under SMART grant.
Answer:
It is more profitable to continue processing.
Explanation:
Giving the following information:
A company has inventory that cost $50,000. Its scrap value is $65,000. The inventory could be sold for $150,000 if manufactured further at an additional cost of $80,000.
Sell for scrap= 65,000 - 50,000= 15,000
Continue processing= 150,000 - 80,000 - 50,000= 20,000
