40. If you could live anywhere, where would it be?

The city of Brittainville’s Special Revenue Fund levied $350,000 in taxes, of which 1% was expected to be uncollectible during t

Arturiano [62]

Answer:

fund balance will increase by $404,000

Explanation:

Given data:

Fund levived in taxes $350,000

1% of fund expected to be uncollectible

Amount of fund collected $7500 as interest revenue

$ 50,000 transferred to general fund

As it is given 1% is uncollectible , remaining value would be

= $350,000- $3,500 (1% * $350,000)

= $346,500

The other inflows are $7,500 + $50,000,

Total inflow is = $57,500.

Total transaction = $346,500 + $57,500 = $404,000

8 0

3 years ago

Part E14 is used by M Corporation to make one of its products. A total of 22,000 units of this part are produced and used every

murzikaleks [220]

Answer:

(29,800)

Explanation:

The computation of the financial advantage or disadvantage is shown below:

As we know that

Financial disadvantage = Cost of making - Cost of buying

where,

Cost of making is

= [(Direct material per unit + direct labor per unit + variable manufacturing overhead per unit) × units produced] + additional segment margin

= [($4.7 + $9.30 + $9.80 + $5.20) × 22,000 units] + $34,000

= ($29 × 22,000 units ) + $34,000

= $672,000

And, the Cost of buying is

= Units produced × offered price

= 22,000 units × $31.90

= $701,800

So,

Financial disadvantage is

= Cost of making - Cost of buying

= $672,000 - $701,800

= (29,800)

6 0

3 years ago

Electric, Inc. was incorporated on January 1, 2016. Electric issued 4,000 shares of common stock and 1,200 shares of preferr

S_A_V [24]

Answer:

$57,600

Explanation:

The computation of the total amount paid to preferred shareholders are shown below:

= Number of shares for preferred stock × par value × dividend rate × number of years

= 1,200 shares × $100 × 12% × 4 years

= $57,600

In case of cumulative, the number of years would be four years for dividend paid

All other information which is given is not relevant. Hence, ignored it

8 0

3 years ago

Jamal has owned his home for about 5 years. his refrigerator needs to be replaced and jamal is thinking about buying an energy s

ipn [44]

Answer - A (7 years)

WORKINGS

To calculate how long it would take for the new refrigerator to pay for itself in lower utility costs, the cost of new refrigerator will be divided by lower utility cost per year

Cost of new refrigerator = $598

TO CALCULATE LOWER UTILITY COST PER YEAR

At a cost of only 12 cents per day

Annual cost will be 12 X 365 = 4380 Cents ($43.8)

Cost saved annually = Cost of old refrigerator – Cost of new refrigerator.

Lower utility cost per year = $132 – $43.8

Lower utility cost per year = $88.2

How long would it take for the new refrigerator to pay for itself in lower utility costs?

$598 ÷ $88.2

= 6.78 years

Approximately 7 years

7 0

3 years ago

Read 2 more answers

If a $4,000 debit to Equipment in a journal entry is incorrectly posted to the ledger as a $4,000 credit and the ledger account

Dovator [93]

Answer:

The totals of Trial balance have a difference of $8,000. The credit balance totals of Trial balance is higher than the debit totals because the original entry of debit is mission and there is an wrong posing on the credit side which reduce the debit balance by $4,000 and Increase the credit balance by $4,000 at the same time. Net effect will be $8,000 in totals of trial balance.

4 0

3 years ago