Answer:
chart of accounts. a list of all account names used to record transactions of a company.
external transactions. transactions the firm conducts with a separate economic entity.
general ledger. all accounts used to record the company's transactions.
journal
posting
T-account
trial balance
accounts
Answer:
See below
Explanation:
Basic models Deluxe models
Sales price $44 $54
Variable costs $25 $25
Contribution margin $9 $29
×
Sales mix 1 3
Total contribution margin $9 $87
Contribution margin per unit = $9 + $87 = $96
Weighted contribution margin= Total contribution margin / Units
= $96 / $4
= $24
Break even point = Total fixed costs / Weighted contribution margin
Break even point = $1,441 / $24
Break even point = 60 units
•Basic units = 60 × 63.33% = 38 units of basic
•Deluxe units = 60 × 43.33% = 26 units of Deluxe units
Answer:
Charlotte has the priority to claim Autumn as her dependent even though William covered 70% of her living expenses during the year. In order for a parent to be able to claim a child as a dependent, he/she must live with the child for more than half the year. In this case, since William left the house, Charlotte has preference over claiming Autumn as her dependent (even though William lived with Autumn for 10 months). Also, a parent always has priority over other relatives including a grandparent.
Answer:
$6.25 per ton of coal
Explanation:
the depletion base = purchase cost + restoration costs
- purchase cost = $20 million
- restoration costs = $6 million
depletion base = $26,000,000
depletion rate per ton of coal = (depletion base - salvage value) / estimated reserves = ($26,000,000 - $1,000,000) / 4,000,000 = $6.25 per ton of coal
The depletion rate follows the same concepts as depreciation of fixed assets, but instead of using a fixed asset, you are extracting materials and decreasing the value of the deposits.
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