Expenses follows the same rule of the debit and credit as that of the Drawing account.
<h3>What is Drawing Account?</h3>
The Drawing account is the account in which the transactions of the money withdrawn from the business is recorded. The money is withdrawn by the owner of the business.
The golden rule of the accounting says that the debit the expenses and losses and credit the income and gains.
A debit to the drawing account and a credit to the cash account constitute the standard accounting entry for the drawings account (or whatever asset is being withdrawn).
It reflects the capital's deductibility from the overall equity of the company.
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Answer : Andrew Carnegie and John Rockefeller.
Andrew Carnegie owned and operated the largest iron and steel company in the United States.
John.D. Rockefeller is credited with establishing the oil industry in the United States. His astuteness, efficiency and clear vision helped him to steer through the glut in oil drilling in the early 1860s and establish the oil industry.
Storyboard. This is used as a conceptual touchpoint prior to putting any investment into filming. It ensures the project is tracking favorably to the customer's expectation.
Answer:
The correct answer is D
Explanation:
Computation of allocation of factory overhead cost for the Job NO 117:
Now, computing the rate of overhead allocation as:
Pre- determined rate of overhead allocation = Estimated aggregate overhead / estimated number of labor hours
where
Estimated aggregate overhead is $95,000
Estimated number of labor hours is 9,500 hours
Putting the values above:
= $95,000 / 9,500 hours
= $10 per hour.
Computing the overhead cost to be allocated to Job No 117 as:
Overhead cost to be allocated to Job No 117 = Number of direct labor hours × pre- determined rate of overhead
where
Number of direct labor hours is 2,300 hours
Pre- determined rate of overhead allocation is 10 per hour
Putting the values above:
= 2,300 hours × $10 per hour
= $23,000
Answer:
Price of share= $112.496
Explanation:
According to the dividend valuation model , the current price of a stock is the present value of the expected future dividends discounted at the required rate of return.
So we will discount the steams of dividend using the required rate of 16.0% as follows
Year Present Value
1 2.95× 1.28× 1.16^(-1)= 3.178
2 2.95× 1.28^2 × 1.16^(-2)= 3.591
3 2.95× 1.28^3 × 1.16^(-3)= 3.963
Year 4 and beyond
Present Value in year 3 =(2.95× 1.28^3× 1.064)/(0.28-0.064)= 68.568
Present value in year 0 = 68.56813227
× 1.16^(-3)= 43.92
Price of share =3.1788 + 3.591 + 3.963 +43.928
= 112.496
Price of share= $112.496