Answer: the row designations in the Stockholders' Equity section of the balance sheet.
Explanation: In simple words, statement of changes in equity refers to the financial statement of an organisation that represents the changes that occurred in the company's share capital , accumulated reserves and retained earnings over a specified period time, generally a year.
The columns of such a statement usually deficits the data for which the statement is made and the period for which the capricious is done or forecasting is done for future. These columns depicts the nature of amounts that are recorded with in rows with their titles in the first row.
Answer:
J. Gladwin has a capital balance = $106,000
R. Selleck has a capital balance = $94,000
The Journal entry is as follows:
On October 1,
J. Gladwin Capital A/c Dr. $53,000
To R. , Capital $53,000
(To record admission of R.)
Working Notes:
J. Gladwin Capital:
= Capital balance of J. Gladwin ÷ 2
= $106,000 ÷ 2
= $53,000
Therefore, the J. Gladwin capital is $53,000.
Answer:
Overhead rate= 17.97
Explanation:
Giving the following information:
It estimated that 34,000 direct labor-hours would be required for the period’s estimated level of production.
The company also estimated:
Fixed manufacturing cost= $543,000
Variable manufacturing cost= $2.00 per direct labor-hour.
Harris’s actual manufacturing overhead cost:
Total= $678,635
Actual total direct labor was 34,500 hours.
Overhead rate: Estimated total overhead cost/Estimated total amount of the allocation base
Overhead rate= (543000+2*34000)/340000
Overhead rate= 17.97
Answer:
<em>Before setting your prices, it's wise to research industry standards- B.</em>