Answer:
Fixed budget.
Explanation:
A fixed budget can be regarded as financial plan which is not been modified for any variations that could come up in actual activity. In most times some companies may have experience of substantial variations as regards their expected activity levels within the encompassed period of budget as well as the amounts in that budget. The budget cost allowances in a fixed budget for each cost item cannot be changed as regards the variable items. It should be noted that in Fixed budget the master budget is based on a single prediction for sales volume, and the budgeted amount for each cost essentially assumes that a specific amount of sales will occur.
Answer:
Amount to be borrowed $18,040
Explanation:
The computation of the amount that should be borrowed is given below:
Opening cash balance $29,500
Add Cash Receipts $98,000
Less Cash Disbursements -$122,540
Balance before adjustment $4,960
Desired ending cash balance $23,000
Amount to be borrowed $18,040
Answer:
April 1. Paid six months of rent, $4,800
Requires Deferred expense-type of adjusting entry
April 10. Received $1,200 from customer for six month service contract that began April 1.
Requires Deferred revenue-type of adjusting entry
April 15. Purchased a computer for $1,000.
Requires Deferred expense-type of adjusting entry
April 18. Purchased $300 of office supplies on account
Requires Deferred expense-type of adjusting entry
April 30. Work performed but not yet billed to customer, $500
Requires Accrued revenue-type of adjusting entry
April 30. Employees earned $600 in salaries that will be paid May 2.
Requires Accrued expenses-type of adjusting entry
Answer:
Economic profit will be $40
So option (d) will be correct option
Explanation:
We have given number of units produced = 20 units
Price of per unit = $10 per unit
So revenue = 20×$10 = $200
Revenue :20 units * $10 = 200
Fixed cost is given $100
Variable cost: 20 units ×$3 = 60
So total cost= Fixed cost + Variable cost = 100 + 60 =$160
So economic profit = Revenue - Total cost = 200 - 160 = $40
So option (d) will be correct answer
