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Rudik [331]
3 years ago
5

Jayda started a corporation that creates software products for clients. Which statement correctly reflects Jayda’s role in the c

orporation.
A. Jayda owns the company’s assets.
B. Jayda bears all of the liabilities of the company.
C. Jayda may choose to trade the corporation’s shares as common stock.
D. Jayda assumes responsibility for all of the debts of the company.
Business
1 answer:
Scilla [17]3 years ago
4 0

Answer:

C. Jayda may choose to trade the corporation’s shares as common stock.

Explanation:

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If manufacturing overhead has been underallocated during the period, then which of the following is true?(a) the jobs produced d
Alecsey [184]

Answer:

The correct answer is B: the jobs produced during the period have been under-costed

Explanation:

Giving the following information:

If manufacturing overhead has been under-allocated during the period, then which of the following is true?

(a) the jobs produced during the period have been over-costed

(b) the jobs produced during the period have been under-costed

(c) the jobs produced during the period have been costed correctly

(d) none of the above

When manufacturing overhead has been under-allocated means that the actual costs incurred where superior that the estimated cost for the period.

7 0
3 years ago
Jameson Corporation was organized on May 1. The following events occurred during the first month. Received $68,000 cash from the
monitta

Answer:

Explanation:

The journal entries are shown below:

1.  Cash A/c Dr $68,000

                  To Common stock                      $5,150

                   To Additional paid-in capital     $62,850

(Being the cash is received)

The common stock value is computed by

= Number of investors × number of shares × par value

= 5 investors  × 103 shares × $10

= $5,150

And, the remaining balance is transferred to additional paid-in capital

2. No journal entry required

3.  Cash A/c Dr $17,000

            To Long term note payable A/c $17,000

(being cash is borrowed for long term payable)

4.  Equipment A/c Dr $18,000

        To Cash A/c                         $1,500

        To Short term note payable $16,500

(Being equipment is purchased for cash and short term note payable)

5.  Short term Notes receivable A/c Dr $1,600

           To Cash                                                       $1,600

(Being cash is paid)

6. Store fixtures A/c Dr $19,000

            To Cash A/c                       $19,000

(being cash is paid for store fixtures)

7 0
3 years ago
Kearney, Inc., makes kitchen tools. Company management believes that a new model of coffee grinder would sell well at a price of
IRINA_888 [86]

Answer:

$0.15 hours per unit

Explanation:

Given that

Direct material cost = $16

Assume Direct labor cost = X

Manufacturing overheads = $18

Profit margin = 20%

Direct labor per hour cost = $28

The computation of direct labor-hour input is shown below:-

Total manufacturing cost = X + $34

Total cost of goods sold = (X + $34) × 1.7 = $66

Direct labor cost per unit

= (X + $34) = $38.82

= $38.82 - $34

= $4.32

Direct labor hours per unit = Direct labor cost per unit ÷ Direct labor per hour cost

= $4.32 ÷ $28

= $0.15 hours per unit

3 0
3 years ago
Which of the following statements regarding a 30-year monthly payment amortized mortgage with a nominal interest rate of 8% is C
sertanlavr [38]

Answer:

C. A smaller proportion of the last monthly payment will be interest, and a larger proportion will be principal, than for the first monthly payment.

Explanation:

I prepared a summary of an amortization schedule to explain this:

principal = $100,000

r = 8% annual

n = 360 months

first payment = $733.76: $666.67 are interests and only $67.09 reduces principal

second payment = $733.76: $665.95 are interests and only $67.54 reduces principal

last payment = $733.76: $4.90 are interests and only $728.86 reduces principal to $0

6 0
3 years ago
Sarafiny Corporation is in the process of preparing its annual budget. The following beginning and ending inventory levels are p
I am Lyosha [343]

Answer:

See below

Explanation:

Raw materials purchased is computed as;

Raw material purchase = Ending inventory + required for production - beginning inventory

= 50,000 + ((80,000 + 770,000 - 30,000) × 3) - 60,000

= 50,000 + 2,460,000 - 60,000

= 2,450,000 grams

8 0
2 years ago
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