Answer:
Multi-purpose credit is the answer
Explanation:
Answer:
$105,260 lower than under absorption costing
Explanation:
The computation of the net operating income for the year is shown below;
Change in units in inventory is
= Units produced - Units sold
= 30,140 units - 24,600 units
= 5,540 units
Now the fixed overhead per unit is
= Fixed manufacturing overhead ÷ Units produced
= $572,660 ÷ 30,140
= $19 per unit
Now the total amount would be
= 5,540 units × $19 per unit
= $105,260
Since the units produced is more than the units sold that means the net income under absorption costing is more than the net income under variable costing
hence, $105,260 lower than under absorption costing
Answer:
Four (4)
Explanation:
The normal balances of the listed accounts are as follows.
Accounts Payable: credit balance
Cash: debit balance
Prepaid Rent: debit balance
Common Stock: credit balance
Salaries Payable: credit balance
Equipment: debit balance
Supplies: debit balance
Rent Expense: debit balance
Four of the eight accounts have credit balances.
The loss of Sony on Playstation is covered by the gain on PS+ sales. The profit from PS+ is interdependent on sale of Playstation.
<h3 /><h3>What is interdependence?</h3>
Interdependence is the state of being dependent on a thing. In the scenario provided the sale of PS+ that is the games can only be sole when the Playstation is sold. This makes the sale of PS+ interdependent on the sale of Playstation.
Interdependent goods are dependent on other product for sale and a sale of one would result in the sale for the interdependent good.
The loss made on sale of Playstation of $60 can be recovered easily by the sale of PS+ as all the purchaser of Playstation will be spending a good amount on the purchase of PS+ which makes the loss profitable for Playstation Company.
Learn more about interdependence at brainly.com/question/27251361
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Answer and Explanation:
a) Discount:
Carrying Value:$106,554
Face Value:($118,000)
Discount:($11,446)
Calculate Gain/Loss:
Carrying Value:$106,554
Redemption Price:($120,360)
[118,000*102]
Loss:(13,806)
April 30 2022
Dr Bonds Payable $118,000
Dr Loss on Redemption $13,806
Cr Discount on Bonds Payable $11,446
Cr Cash $120,360
(Record retirement of bond at loss.)
(b)Calculate Premium:
Carrying Value:$271,021
Face Value:($250,400)
Premium:$20,621
Calculate Gain/Loss:
Carrying Value:$271,021
Redemption Price:($240,384)
[$250,400*96]
Gain$30,637
June 30, 2022
Dr Bonds Payable $250,400
Dr Premium on Bonds Payable $20,621
Cr Gain on Redemption $30,637
Cr Cash $240,384
(Record retirement of bond at gain.)
