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2 years ago

Companies typically prepare ______ financial statements each accounting period.

1 answer:

6 0

Companies typically prepare 4 financial statements because there’s:
- Balance Sheets
- Income Statements
- Cash Flow Statements
- Statements of Shareholders’ Equity

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Wind Productions uses flexible budgets. Items from the budget for March in which 3,000 units were produced and sold appear below

ladessa [460]

Answer:

$40,000

Explanation:

For computing the total variable cost, first we have to determine the variable cost per unit which is shown below:

= (Direct materials cost + Indirect materials - variable + Direct labor cost) ÷ (number of units produced and sold)

= ($18,000 + $2,000 + $10,000) ÷ (3,000 units)

= ($30,000) ÷ (3,000 units)

= $10 per unit

Now the total variable cost would be

= $4,000 units × $10 per unit

= $40,000

5 0

3 years ago

Testbank Multiple Choice Question 81 At the beginning of 2020, Sunland Company issued 8% bonds with a face value of $5700000. Th

laila [671]

Answer:

$527,737

Explanation:

The Bond Payment or Coupon always includes the Interest Portion and the the Capital Potion. The question only requires the Interest Portion of the Bond.

The Bond Parameters can be set as :

PV = - $5,259,870

FV = $5,700,000

PMT = ($5,700,000 x 8%) ÷ 2 = $228,000

N = 5 x 2 = 10

YTM = 10 %

P/YR = 2

Constructing an amortization schedule for 2020 gives :

Date Capital Portion Interest Balance

June 30 $34,994 $262,994 $5,294,864

Dec 30 $36,743 $264,743 $5,331,607

Total $71,737 $527,737 $5,331,607

therefore,

The amount of interest expense to be reported for 2020 is $527,737

7 0

3 years ago

What is one way to begin saving start up capital?

Stella [2.4K]

Answer:

A - Set aside a portion of your income each month.

Hope This Helps

8 0

3 years ago

Alpha Computing is a U.S. company that specializes in IT research. It has formed a joint venture with Microchips Inc., a Belgium

hichkok12 [17]

Answer:

The answer is: A) strategic alliance

Explanation:

A strategic alliance is an agreement between two or more independent companies to participate in a mutually beneficial project. The companies share resources for this specific project while remaining independent in all their other business activities.

This is usually done to try to enter a new market or to develop a new product.

3 0

3 years ago

Read 2 more answers

The gross earnings of the factory workers for Larkin Company during the month of January are $91,000. The employer's payroll tax

cestrela7 [59]

Answer:

Explanation:

The journal entry is shown below:

(a) Factory Labor/Expenses A/c Dr $103,800

To Factory wages payable $91,000

To Employer payroll taxes payable $7,700

To Fringe benefits payable $5,100

(Being labor expenses are recorded)

(b) Direct labor A/c Dr $87192 ($103,800 × 84%)

Indirect labor A/c Dr $16,608 ($103,800 × 16%)

To Factory Labor $103,800

(Being factor labor is assigned)

7 0

3 years ago