Answer:
The preparation is presented below:
Explanation:
The preparation of the retained earnings statement for the year ended July 31, 2018 is presented below:
Cali Communications'
Retained Earning statement
For the year ended July 31, 2018
Beginning balance of retained earning $0
Add: Net income $5,150
Less: Cash Dividend paid -$0
Ending balance of retained earning $5,150
Answer:
Dana
Explanation:
According to my research on different bank responsibilities, I can say that based on the information provided within the question the bank is completely liable to Dana. This is because the bank has a responsibility to Dana since she is the one who signed to open the account, which in term is her. They must now let her know why they dishonored the check and provide a solution.
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Answer:
the portfolio's return will be Ep(r)= 9.2 %
Explanation:
if the stock lies on the security market line , then the expected return will be
Ep(r) = rf + β*( E(M)- rf)
where
Ep(r) = expected return of the portfolio
rf= risk free return
E(M) = expected return of the market
β = portfolio's beta
then
Ep(r) = rf + β*( E(M)- rf)
E(M) = (Ep(r) - rf ) / β + rf
replacing values
E(M) = (Ep(r) - rf ) / β + rf
E(M) = ( 17.2% - 3.2%) /1.4 + 3.2% = 13.2%
since the stock and the risk free asset belongs to the security market line , a combination of both will also lie in this line, then the previous equation of expected return also applies.
Thus for a portfolio of β=0.6
Ep(r) = rf + β*( E(M)- rf) = 3.2% + 0.6*(13.2%-3.2%) = 9.2 %
Ep(r)= 9.2 %
Answer:
The entries are as follows
To record estimated returns on Sales
Debit: Sales Refund Payable Account $131,400
Credit: Accounts Receivables $131,400
To record estimated Cost of Sales returns
Debit: Inventory Returns Estimated Account $77,700
Credit: Inventory on Sales on Returns $77,700
Explanation:
To derive the figure for Sales Refund payable for the year
6% of $2,190,000
= 
= $131,400
To derive the figure for Inventory cost on Sales Refund payable for the year
6% of $1,295,000
= 
= $77,700
Answer:
a. $21
b. $1,890,000
Explanation:
a. The computation of the predetermined overhead rate is shown below:
Predetermined overhead rate = (Total estimated manufacturing overhead) ÷ (estimated computer hours)
= $2,100,000 ÷ 100,000 hours
= $21
b. Now the applied overhead which equals to
= Actual computer hours × predetermined overhead rate
= 90,000 hours × $21
= $1,890,000
