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Masteriza [31]
3 years ago
10

9) Napier Co. provided the following information on selected transactions during 2018: Purchase of land by issuing bonds $1,000,

000 Proceeds from issuing bonds 3,000,000 Purchases of inventory 3,800,000 Purchases of treasury stock 600,000 Loans made to affiliated corporations 1,400,000 Dividends paid to preferred stockholders 400,000 Proceeds from issuing preferred stock 1,600,000 Proceeds from sale of equipment 300,000 The net cash provided (used) by investing activities during 2018 is
Business
1 answer:
4vir4ik [10]3 years ago
7 0

Answer:

($1,100,000)

Explanation:

Given that

Loans made to affiliated corporations = $1,400,000

Proceeds from sale of Equipment = $300,000

The computation of net cash provided (used) by investing activities is here below:-

Net cash provided(used) by investing activities = (Loans made to affiliated corporations) - Proceeds from sale of Equipment

= ($1,400,000) - $300,000

= ($1,100,000)

So, for computing the cash provided(used) by investing activities we simply applied the above formula.

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During January, Luxury Cruise Lines incurs employee salaries of $2.1 million. Withholdings in January are $160,650 for the emplo
almond37 [142]

Answer:

a. The journal entries for the employee salary expense, withholdings, and salaries payable are the following:

                                                       Debit                           Credit

Salaries expenses account    $2,100,000

    Federal Income tax payable                                       $315,000

    State income tax payable                                           $131,250

   FICA social security tax payable                                 $160,650

   Blue shield payable                                                       $21,000

  Cash account                                                               $1.472.1000

b. The journal entries for the employer-provided fringe benefits is the following:

                                                                           Debit                           Credit

Salaries expenses (Fringe benefit account)    $63,000

    Blue shield payable                                                                      $63,000

c. The journal entries for the employer payroll taxes is the following:

                                                       Debit                           Credit

Payroll Tax expense account    $290,850

    FICA Social security tax payable                                   $160,650

    Unemployment tax payable                                          $130,200

Explanation:

a. The journal entries for the employee salary expense, withholdings, and salaries payable are the following:

                                                       Debit                           Credit

Salaries expenses account    $2,100,000

    Federal Income tax payable                                       $315,000

    State income tax payable                                           $131,250

   FICA social security tax payable                                 $160,650

   Blue shield payable                                                       $21,000

  Cash account                                                               $1.472.1000

b. The journal entries for the employer-provided fringe benefits is the following:

                                                                           Debit                           Credit

Salaries expenses (Fringe benefit account)    $63,000

    Blue shield payable                                                                      $63,000

c. The journal entries for the employer payroll taxes is the following:

                                                       Debit                           Credit

Payroll Tax expense account    $290,850

    FICA Social security tax payable                                   $160,650

    Unemployment tax payable                                          $130,200

3 0
3 years ago
Sawaya Co., Ltd, of Japan, is a manufacturing company whose total factory overhead costs fluctuate considerably from year to yea
coldgirl [10]

Answer:

Explanation:

1. Indirect Material variable cost Per Direct Labor HR 5000000/50000=100

Indirect Material (variable) 100*75000 =7500000

Rent Fixed 6000000

Hence total Maintenace Fixed =17625000-7500000-600000= 4125000

2.

                   Low            High      Change

Cost 3250000 4125000 875000 [4125000-3250000]

Activities 50000          75000   25000

variable Portion of Maitencance cost =875000/25000= 35.00

Fixed cost=4125000-75000*35=1500000

Variable cost=35

cost formula for maintenance= 1500000+35b

3.

Indirect Material (variable) 100*70000 = 7000000

Rent Fixed                      6000000

Maintenance cost = 1500000+35*70000=3950000

5 0
2 years ago
Job 101 was completed and sold for $60,000. Job 102 was completed but not sold. Job 103 is still in process. Actual overhead cos
castortr0y [4]

Answer:

Required 1

Debit : Finished Goods  $53,600

Credit : Work In Process $53,600

Required 2

Debit : Cash $60,000

Debit : Cost of Goods Sold $55,000

Credit : Sales $60,000

Credit : Finished Goods $55,000

Required 3

Debit : Overheads $4,000

Credit : Cost of Sales $4,000

Explanation :

Hi, I have attached the full question as a pdf below

<u>Manufacturing Costs Calculations :</u>

Job 101  = $19,200 + $28,800 + ($420,000/60,000 x1,000) = $55,000

Job 102  = $14,400 + $11,200 + ($420,000/60,000 x4,000) = $53,600

<u>Closing Overheads :</u>

Actual Overheads = $45,000

Applied Overheads = $420,000/60,000 x 7,000 hours = $49,000

Therefore,

Overheads are over-applied ( by $4,000) and must be deducted from cost of sales

Download pdf
7 0
3 years ago
Bates Company plans to add a new item to its line of consumer product offerings. Two possible products are under consideration.
ivolga24 [154]

Answer:

differential revenue = $7

so correct option is a.$7

Explanation:

given data

Product A costs = $6

contribution margin = $3

Product B costs = $12

contribution margin = $4

to find out

the differential revenue for this decision

solution

we get here the differential revenue for this decision that is express

so first we get here selling price for both product that is

selling price product A = Product A costs + contribution margin

selling price product A  = $6 + $3 = $9

and

selling price product B   = $12 + $4 = $16

so now we get differential revenue that is

differential revenue = selling price product B - selling price product A

differential revenue = $16 - $9

differential revenue = $7

so correct option is a.$7

4 0
3 years ago
What aspect of project management was omitted from the PMI definition that is included in the definition proposed by Meredith an
Illusion [34]

Answer:

Fulfilling client expectations

Explanation:

Fulfilling client's expectations is one of the potent ways an organization can achieve its long term corporate objective. If I were on the PMI decision making body, I would not have outrightly voted for its inclusion. What I will do, however, is to:

1. fully gain an understanding of best practices and procedures that could be applied to achieve the client's expectations.

2. Prototype such procedures, practices and processes and assess its impact on the long term corporate objective.

3. The results from the foregoing will inform my decision.

6 0
3 years ago
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