Answer:
An <u>account</u> is maintained for each financial statement item, whereas a(n) <u>general ledger</u> contains all of the accounts of the company.
Explanation:
Financial statements refers to a statement that that provides formal records of all financial activities and standing of a company or any entity in a structured and easily understandable manner.
For each item of financial statement, an account is kept with the aim of giving a an accurate record of all business activities that are germane to that specific financial statement item.
The purpose of a general ledger is to show individual transactions and resulting account balance of each account of a company as a single collection.
Therefore, an <u>account</u> is maintained for each financial statement item, whereas a(n) <u>general ledger</u> contains all of the accounts of the company.
Answer:
Cash payments:
March $30,300
April $51,660
May $58,490
Explanation:
The following costs amounting to $9,000 should be deducted from the projected expenses per month
A. Insurance costs (it had been prepaid in February)
B. Depreciation (it doesn't involve any cash movement)
C. Property tax (it won't be due for payment until June)
This leaves each month expense as shown in the attached schedule. And based on the 70 : 30 rule, the table reflects the full payment structure.
Answer:
Sale of plant assets. If the company<u> sales an equipment it will receive cash </u>for it. We are not given with any information of this transaction not being in cash, so we should assume it was a sale in cash or cash equivalent.
Explanation:
<u>Conversion of bonds into common stock.</u> The bonds, which are outstanding and represent a promise to pay, are converted into common stock, this transaction doesn't involve cash.
<u>Issuance of common stock to purchase land. </u>The land is acquire in exchange of common stock, the company is not using cash. the owner of the land can later sold the stock to a third party but it won't affect the cash flow of the company.
<u>Issuance of debt to purchase equipment </u>Like singing a note to purchase a machine, no cash is involve.
Answer:
Allocated administrative cost for mixing is $81000
And allocated administrative cost for for bottling is $81000
Explanation:
We have given total number of employs for mixing = 350
And total number of employs for bottling = 350
Administrative cost = $162000
So total number of employs = 350+350 = 700
So allocation base for mixing 
So allocated amount for mixing = 0.5×$162000 = $81000
Allocation base for bottling =
So allocated amount for bottling = 0.5×$162000 = $81000
