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3 years ago

Define nationalization.

Business

1 answer:

Alisiya [41]3 years ago

6 0

Answer:

the process of transforming privately owned assets into public assets by bringing them under the public ownership of a national government or state.

Explanation:

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Bushard Company (buyer) and Schmidt, Inc. (seller) engaged in the following transactions during February 2019:

Allisa [31]

Answer:

Bushard Company (buyer) and Schmidt, Inc. (seller)

Journal Entries:

Bushard Company

Feb. 10 Debit Inventory $5,000

Credit Accounts payable (Schmidt, Inc.) $5,000

To record the purchase of goods on account, via Invoice 1980, terms 1/10, n/30.

13 Debit Accounts payable (Schmidt, Inc.) $200

Credit Inventory $200

To record the return of damaged goods and received Credit Memorandum 230.

19 Debit Accounts payable (Schmidt, Inc.) $4,800

Credit Cash $4,752

Credit Cash Discounts $48

To record the payment on account and discounts.

Schmidt, Inc.

Feb. 10 Debit Accounts receivable (Bushard Company) $5,000

Credit Sales revenue $5,000

To record the sale of goods on account, Invoice 1980, terms 1/10, n/30.

13 Debit Sales returns $200

Credit Accounts receivable (Bushard Company) $200

To record the return of damaged, issuing Credit Memorandum 230.

19 Debit Cash $4,752

Debit Cash Discounts $48

Credit Accounts receivable (Bushard Company) $4,800

To record the receipt of cash from customer, including discounts.

Explanation:

a) Data and Analysis:

Bushard Company

Feb. 10 Inventory $5,000 Accounts payable (Schmidt, Inc.) $5,000, Invoice 1980, terms 1/10, n/30.

13 Accounts payable (Schmidt, Inc.) $200 Inventory $200 Credit Memorandum 230, damaged merchandise.

19 Accounts payable (Schmidt, Inc.) $4,800 Cash $4,752 Cash Discounts $48

Schmidt, Inc.

Feb. 10 Accounts receivable (Bushard Company) $5,000 Sales revenue $5,000, Invoice 1980, terms 1/10, n/30.

13 Sales returns $200 Accounts receivable (Bushard Company) $200 Credit Memorandum 230, damaged merchandise.

19 Cash $4,752 Cash Discounts $48 Accounts receivable (Bushard Company) $4,800

7 0

3 years ago

Universal Waste Disposal sold 1,350,000 shares of stock at $24.62 per share. The investment banker's commission was 5% of the va

Gre4nikov [31]

The proceeds that UWD received will be as follows:
Number of shares 1,350,000
share price $24.62
Amount realized from the shares:
1,350,000×24.62
=33,237,000

Total amount to be deducted will be:
(Commission+Accounting fees+legal fees+printing costs+selling expenses)
commission=$1,661,850
Accounting fees=$450,000
legal fees=$1,225, 000
printing cost=$275,000
selling expenses=$300,000

Total=(1,661,850+450,000+1,225,000+275,000+300,000)
=$3,911,850

The amount received will be:
33,237,000-3,911,850
=$29,325,150

4 0

3 years ago

The standard quantity allowed for the units produced was 4000 pounds, the standard price was $2.50 per pound, and the materials

Anika [276]

Answer:

Unites actually produced = 4,000 units

Explanation:

M<em>aterial quantity variance occurs when the actual quantity used to achieved a given level of output is more or less than the standard quantity. </em>

<em>It is determined by the difference between the actual and standard quantity of material for the actual level of output multiplied by the the standard price </em>

Material quantity variance in unit = Materials quantity variance in value /standard price

Material quantity variance in unit = 350/2.50 =140 pounds

Actual quantity used (in pounds) = standard quantity allowed - Material quantity variance

= 4000 - 140 = 3,860 pounds

Actual units produced = Standard quantity allowed/ standard quantity per unit

= 4,000/1 = 4000 units

Unites actually produced = 4,000 units

6 0

4 years ago

At December 31, 2017, Hawke Company reports the following results for its calendar year.

arsen [322]

Answer:

Hawke Company

1. Adjusting Entries to recognize bad debts under the following independent assumptions:

A. Bad debts are estimated to be 1.5% of credit sales:

Debit Bad Debts Expense $73,400

Credit Allowance for Doubtful Accounts $73,400

To record bad debts expenses and bring the allowance for doubtful accounts balance to $56,820.

B. Bad debts are estimated to be 1% of total sales:

Debit Bad Debts Expense $92,450

Credit Allowance for Doubtful Accounts $92,450

To record bad debts expenses and bring the allowance for doubtful accounts balance to $75,870.

C. An aging analysis estimates that 5% of year-end accounts receivable are uncollectible:

Debit Bad Debts Expense $80,085

Credit Allowance for Doubtful Accounts $80,085

To record bad debts expenses and bring the allowance for doubtful accounts balance to $63,505.

2. Balance Sheet as of December 31, 2015:

A. Accounts Receivable $1,270,100

less allowance for doubtful accounts 56,820

Net balance $1,213,280

3. Balance Sheet as of December 31, 2015:

C. Accounts Receivable $1,270,100

less allowance for doubtful accounts 63,505

Net balance $1,206,595

Explanation:

a) Data:

Cash sales $1,905,000

Credit sales 5,682,000

Accounts Receivable $1,270,100

Allowance for doubtful accounts $16,580 debit

1. Bad debts = 1.5% of $5,682,000 = $56,820

2. Bad debts are estimated to be 1% of total sales:

Bad debts = 1% of $7,587,000 = $75,870

3. An aging analysis estimates that 5% of year-end accounts receivable are uncollectible:

Bad debts = 5% of $1,270,100 = $63,505

3 0

3 years ago

40 POINTS!! Decorative text available to include in a document is known as _____.

enyata [817]

4. word art, I believe is the correct answer

5 0

3 years ago

Read 2 more answers

Define nationalization.​

Define nationalization.