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3 years ago

Required Information

Business

1 answer:

shusha [124]3 years ago

5 0

Answer:

Cash 57,750 debit

Account receivables 57,750 credit

--------------------------------------------

Equipment 41,500 debit

cash 11,500 credit

note payable 30,000 credit

--------------------------------------------

Advertising Expense 14,300 debit

cash 14,300 credit

--------------------------------------------

supplies 5,300 debit

account payables 5,300 credit

------------------------------------------

cash 150,000 debit

service revenue 150,000 credit

-------------------------------------------

account payables 5,300 debit

cash 5,300 credit

---------------------------------------------

cash 129,350 debit

account receivables 129,350 debit

services revenue 258,700 credit

---------------------------------------------

wages expense 380,000 debit

cash 380,000 credit

--------------------------------------------

utilities expense 6,260 debit

account payable 6,260 credit

Explanation:

To make thge jounral entries we must follow the basic principles:

debit = credit

and one value per account

Is important to comment that A state the income has been earned so we deduct from account recievables

then. we again receive cash for service earned

In none ofthe case we are doing the recognition of hte deferred revenue so this, stays untouched.

G) 19,900 x $13 each = $258,700

half cash-half credit : 258,700 / 2 = 129,350

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Option A

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3 years ago

A company produces and sells a consumer product and is able to control the demand for the product by varying the selling price.

Yuki888 [10]

A company produces and sells a consumer product and is able to control the demand for the product by varying the selling price. The approximate relationship between price and demand is 50 units.

p = 38 + (2,700 / D) - (5,000 / D2)

Marginal (variable) cost (MC) = 40

(a) Profit is maximized by equality of Marginal revenue (MR) and MC.

Total revenue (TR) = p x D = 38D + 2,700 - (5,000 / D)

MR = dTR / dD = 38 + (5,000 / D2)

Equating MR with MC,

38 + (5,000 / D2) = 40

5,000 / D2 = 2

D2 = 2,500

Taking positive square root on each side,

D = 50

(b) When D = 50, from demand function we get

p = 38 + (2,700 / 50) - (5,000 / 2,500) = 38 + 54 - 2 = $90 (Profit-maximizing price)

Profit (\pi) ($) = Total Revenue - Total Costs = TR - (Fixed cost + Total variable cost) = (p x D) - (1,000 + 40D)

= 38D + 2,700 - (5,000 / D) - 1,000 - 40D

= 1,700 - 2D - (5,000 / D)

Profit is maximized when d\pi/dD = 0 and d2\pi/dD2 < 0.

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Second order condition: d2\pi/dD2 = d/dD(d\pi/dD) = - 2 x (5,000 / D3) = - 10,000 / D3

Since D > 0, (- 10,000 / D3) < 0, which proves that profit is maximized when company produces = 50 units.

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2 years ago

Which of the following is NOT a characteristic of long-run equilibrium for a perfectly competitive firm? Select one:

adelina 88 [10]

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3 years ago

Eunice buys a worm farm. She plans to sell a small carton of worms to people who want to fish for $3. Her fixed costs are $1,201

Evgesh-ka [11]

Answer:

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Explanation:

The formula to compute the break-even point is shown below:

= (Fixed cost) ÷ (Contribution margin per unit)

where,

Contribution margin per unit = Selling price per unit - Variable expense per unit

= $3 - $0.75

= $2.25

So, the break-even point would be

= $1,201 ÷ $2.25 per unit

= 534 units

Simply we divide the fixed cost by the contribution margin per unit so that the accurate units can come.

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3 years ago

Herr Corporation has 3,000 shares of 8%, $120 par value preferred stock outstanding at December 31, 2017. At December 31, 2017,

Sliva [168]

Answer:

1. $28,800

$103,200

2. $28,800

$103,200

3. $86,400

$45,600

Explanation:

1. The dividend paid to preferred stockholders = Shares × Par value × Percentage

= 3,000 shares × $120 × 8%

= $28,800

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= $103,200

2. The dividend paid to preferred stockholders = Shares × Par value × Percentage

Note :- Because preferred stocks are non-cumulative in nature, the company is not allowed to pay last two years' dividends and preferred stocks are liable for payment only for the current year.

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The dividend paid to Common stockholders = Cash dividend - Dividend paid to preferred stockholders

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= $103,200

3. The dividend paid to preferred stockholders = Shares × Par value × Percentage × Number of years

Note: Since preferred stocks are cumulative in nature, the company is forced to pay last two years' dividends along with the current year's dividend.

= 3,000 shares × $120 × 8 % × 3 years

= $86,400

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= $132,000 - $86,400

= $45,600

4 0

4 years ago