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Rashid [163]
2 years ago
12

On January 1, 2022, Swifty Corporation had Accounts Receivable of $ 51,900 and Allowance for Doubtful Accounts of $ 3,400. Swift

y Corporation prepares financial statements annually. During the year, the following selected transactions occurred.
Jan. 5 Sold $ 4,200 of merchandise to Rian Company, terms n/30.
Feb. 2 Accepted a $ 4,200, 4-month, 9% promissory note from Rian Company for balance due.
12 Sold $ 12,600 of merchandise to Cato Company and accepted Cato’s $ 12,600, 2-month, 10% note.
26 Sold $ 5,500 of merchandise to Malcolm Co., terms n/10.
Apr. 5 Accepted a $ 5,500, 3-month, 8% note from Malcolm Co.
12 Collected Cato Company note in full.
June 2 Collected Rian Company note in full.
15 Sold $ 2,200 of merchandise to Gerri Inc. and accepted a $ 2,200, 6-month, 12% note.
Journalize the transactions.
Business
1 answer:
tatyana61 [14]2 years ago
6 0

Answer: nothing

Explanation:

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Roberson Corporation manufactured 30,000 ice chests during September. The overhead cost-allocation base is $11.25 per machine-ho
Paha777 [63]

Answer:

$165,000

Explanation:

Data provided in the question;

variable overhead data

                                                                           Actual                   Budgeted

Production                                                       30,000 units          24,000 units

Machine-hours                                                15,000 hours         10,800 hours

Variable overhead cost per machine-hour        $11.00                   $11.25

Now,

The actual variable overhead cost will be

= Actual machine hour × Actual Variable overhead cost per machine-hour

= 15,000 × $11.00

= $165,000

Hence,

The actual variable overhead cost for the Roberson Corporation is $165,000

5 0
3 years ago
Following are financial data for Syke and Under Shield. Syke Under Shield $ millions Current Year 1 Year prior Current Year 1 Ye
Rus_ich [418]

Answer:

For Skye - 15.85%

For under shield - 5%

Skye is using its asset more efficiently because its ROA is higher

Explanation:

Return on total assets =  Net income / Average total assets

For Skye

$3192 /  [(18,764 + 21,512)/2] = 0.1585 = 15.85%

For under shield

$ 649 / [(10,252 + 15,659)/ 2] = 0.05 = 5%

Skye is using its asset more efficiently because its ROA is higher

7 0
3 years ago
Grace Co. had a Chinese yuan payable resulting from imports from China and a Mexican peso receivable resulting from exports to M
bogdanovich [222]

Answer:

Possible options:

A. Yuan increase, Peso increase

B. Yuan increase, Peso decrease

C. Yuan decrease, Peso increase

D. Yuan decrease, Peso decrease

Answer is B

Explanation:

8 0
3 years ago
Which of the following is not true about commission-only compensation plans for sales persons? Sales personnel are only compensa
jolli1 [7]

Answer:

It is the first one you typed

4 0
3 years ago
The income statement reports changes in fair value for which type of investment securities?a. Securities reported under the equi
sveticcg [70]

Answer: trading securities

Explanation:

An income statement is a company's financial statement and simply shows the revenues and the expenses of a company for a particular period. It shows how the company is doing whether it's running a loss or making profit.

The income statement reports changes in fair value for trading securities.

3 0
3 years ago
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