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pychu [463]
2 years ago
11

If Henry and Kate's Company has $300,000 of sales revenue, pays $50,000 in dividends, and has net income of $100,000, how much w

ere the expenses for the year?
Business
1 answer:
True [87]2 years ago
5 0

Answer:

$205,000

--

Stockholders' equity = ($300,000 - $180,000) + ($375,000 - $240,000) - $50,000.

Explanation:

SE = (Total Assets - Total Liabilities) + (Revenues - Expenses) - Dividends

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Larned Corporation recorded the following transactions for the just completed month. $80,000 in raw materials were purchased on
sesenic [268]

Answer and Explanation:

The Journal entry is shown below:-

a. Raw material Dr, $80,000

                To Account payable $80,000

(Being purchase of raw material is recorded)

Here we debited the raw material as it increased the assets and we credited the accounts payable as  it also increased the liabilities

b. Work in process Dr, $62,000

   Manufacturing overhead Dr $9000

           To Raw material $71,000

(Being raw material used is recorded)

Here we debited the work in progress ,  the manufacturing overhead as it increased the assets and expenses and credited the raw material as  it decreased the assets

c. Work in process Dr, $101,000

   Manufacturing overhead Dr, $11,000

                       To Cash $112,000

(Being paid to labor is recorded)

Here we debited the work in progress ,  the manufacturing overhead as it increased the assets and expenses and credited the cash as  it decreased the assets

d. Manufacturing overhead Dr, $175,000

          To Accumulated depreciation-Equipment $175,000

(Being manufacturing overhead is recorded)

Here we debited the manufacturing overhead as it increased the expenses and we credited the accumulated depreciation of depreciation as it reduced the assets

5 0
3 years ago
(a) Argue whether or not a firm should continue production if its MR is lower than its AVC. (b) Support your argument with expla
Delvig [45]

Answer: A firm should not continue production when its MR is lower than its AVC.

Explanation:

The goal of every firm is to minimize cost and also maximize profits and therefore the firm will operate at the output level where the marginal revenue and the marginal cost equates.

A firm should not continue production when its MR is lower than its AVC. Here, the firm will incur a higher loss during production as producing will not offset the variable cost. Therefore, it's better to shut down.

4 0
3 years ago
20 points easy …………………….
dlinn [17]

Answer:

D.....................................

7 0
2 years ago
After the delivery of the condominium documents in the TREC Residential Condominium Contract the buyer may terminate the contrac
sweet-ann [11.9K]

Answer:

The buyer would have a 12-day option to terminate the contract. Otherwise, he or she might not have any other option than to stick to the contract. (That is, the buyer will not have the unrestricted right to terminate the contract again.)

Explanation:

7 0
3 years ago
Target Profit Beard Company sells a product for $15 per unit. The variable cost is 10 per unit, and fixed costs are 1,750,000. D
lakkis [162]

Answer:

a. Break-even point in sales units = 350,000 units

b. Break- even point in sales units to achieve a target profit of $400,000 = 430,000 units

Explanation:

a. Break-even point in sales units = Fixed cost ÷ Contribution margin per unit

= $1,750,000 ÷ $5

= 350,000 units

Working note:- Contribution margin = $15 - $10 = $5

b. Break- even point in sales units to achieve a target profit of $400,000 = fixed cost + Targeted profit ÷ Contribution margin per unit

= $1,750,000 + $400,000 ÷ $5

= $2,150,000 ÷ $5

= 430,000 units

8 0
3 years ago
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