Beta Company reported the following operating data for its baking division for the year: Sales $560,000 Contribution margin 308,000 Direct fixed costs 47,000 Average operating assets 230,000 How much is controllable margin for the year

Answers

Answer 1

Answer: $261000

Explanation:

Based on the information given in the question, the controllable margin for the year will be calculated thus:

Contribution margin = $308000

Less: Direct fixed cost = $47000

Controllable margin = $261000

Therefore, the controllable margin is $261000.


Related Questions

For March, sales revenue is $1,000,000, sales commissions are 5% of sales, the sales manager's salary is $80,000, advertising expenses are $65,000, shipping expenses total 1% of sales, and miscellaneous selling expenses are $2,100 plus 1% of sales. Total selling expenses for the month of March are

Answers

Answer:

$217,100

Explanation:

total selling expenses = sales commission + sales manager's salary + shipping expense + advertising expenses + miscellaneous selling expenses

sales commissions = 50,000

advertising expenses = 65,000

shipping expenses = 10,000

sales manager's salary= 80,000

miscellaneous selling expenses = 10,000 + 2100

On December 31, the trial balance of Cubico Company included the following accounts with debit balances: Prepaid Advertising $1,500 Advertising Expense 5,400 If it is determined that the cost of advertising applicable to future periods is $3,300, the correct adjusting entry would:_____.
A. Debit Advertising Expense $1,800; credit Prepaid Advertising $1,800.
B. Debit Prepaid Advertising $1,800; credit Advertising Expense $1,800.
C. Debit Prepaid Advertising $3,300; credit Advertising Expense $3,300.
D. Debit Advertising Expense $3,300; credit Prepaid Advertising $3,300.

Answers

Answer:

Cubico Company

The correct adjusting entry would be:

B. Debit Prepaid Advertising $1,800; credit Advertising Expense $1,800.

Explanation:

a) Data and Calculations:

Debit balances on December 31:

repaid Advertising $1,500

Advertising Expense 5,400

Determined future advertising cost = $3,300

The correct adjusting entry would be:

B. Debit Prepaid Advertising $1,800; credit Advertising Expense $1,800.

This will increase the prepaid advertising by $1,800 to $3,300 ($1,500 + $1,800) and reduce the advertising expense by $1,800 to $3,600 ($5,400 - $1,800).

Oceanic, a venture capital firm, has the opportunity to invest in one of two firms that are in the process of globalizing. Macmillan, an air-conditioner manufacturer, faces intense pressure from its home market. Rent a Swag, a dog-toy manufacturer, has encountered little competition in its country of origin. In which company should Oceanic invest?

a. Macmillan, because air conditioners cost more to ship than dog toys do
b. Macmillan, because firms that face stiff competition at home tend to do better abroad
c. Rent a Swag, because firms that face little or no competition at home tend to do better abroad
d. Rent a Swag, because dog toys cost less to ship than air conditioners do

Answers

Answer: B. Macmillan, because firms that face stiff competition at home tend to do better abroad

Explanation:

Following the information given, it can be deduced that Oceanic should invest in Macmillan, because firms that face stiff competition at home tend to do better abroad.

The fact that Macmillan, which is an air-conditioner manufacturer, faces intense pressure from its home market will have resulted in the company making quality sure conditioners in order to sustain the pressure and have an edge over its local competitors. Therefore, the company will do better abroad as a result of this.

The correct option is B.

"Rogue Corp. has sales of​ $4,250,000; the​ firm's cost of goods sold is​ $2,500,000; and its total operating expenses are​ $600,000. The​ firm's interest expense is​ $250,000, and the corporate tax rate is​ 40%. What is​ Rogue's tax​ liability"

Answers

Answer:

$360,000

Explanation:

Calculation to determine Rogue's tax​ liability

Step 1 is to calculate the gross profit

Using this formula

Gross profit=Sales - Cost of Goods Sold

Let plug in the formula

Gross profit=$4,250,000-$2,500,000

Gross profit=$1,750,000

Step 2 is to calculate operating income

Using this formula

Operating income=Gross Profit -Total operating expenses

Let plug in the formula

Operating income=$1,750,000-$600,000

Operating income=$1,150,000

Step 3 is to calculate the EBT

Using this formula

EBT=Operating income - Interest expense

Let plug in the formula

EBT=$1,150,000-$250,000

EBT=$900,000

Now let calculate the Tax liability

Using this formula

Tax liability=EBT x Corp Tax

Let plug in the formula

Tax liability=$900,000*$40%

Tax Liability=$360,000

Therefore Rogue's tax​ liability is $360,000

2018

Feb. 2 Recorded credit sales of $97,000. Ignore Cost of Goods Sold.
Nov. 1 Loaned $18,000 to Jess Price, an executive with the company, on a one-year, 7% note.
Dec. 31 Accrued interest revenue on the Price note. 2019
Nov. 1 Collected the maturity value of the Price note.

Required:
Journalize the entries.

Answers

Answer:

Feb 6

Dr Account receivable $97,000

Cr Sales revenue $97,000

Jul 1

Dr Notes receivable $18,000

Cr Cash $18,000

Dec 31

Dr Interest receivable $630

Cr Interest revenue $630

July 1

Dr Cash $19,260

Cr Notes receivable $18,000

Cr Interest receivable $630

Cr Interest revenue $630

(To record collection)

Explanation:

Preparation of the journal entries

Feb 6

Dr Account receivable $97,000

Cr Sales revenue $97,000

(To credit sales)

Jul 1

Dr Notes receivable $18,000

Cr Cash $18,000

(To record loan given)

Dec 31

Dr Interest receivable ($18000*7%*6/12) $630

Cr Interest revenue $630

(To record accrued interest)

July 1

Dr Cash $19,260

($18,000+$630+630)

Cr Notes receivable $18,000

Cr Interest receivable $630

Cr Interest revenue $630

(To record collection)

XYZ Company provides the following activity-based costing information: Activities Total Costs Activity-cost drivers Account inquiry $320,000 16,000 hours Account billing $160,000 3,200,000 lines Account verification costs $138,600 60,000 accounts Correspondence letters $19,200 4,000 letters Total costs $637,800 The above activities are used by Product A and B as follows: Product A Product B Account inquiry hours 2,700 hours 1,800 hours Account billing lines 820,000 lines 630,000 lines Account verification accounts 23,000 accounts 24,000 accounts Correspondence letters 1,500 letters 2,000 letters How much of the account verification costs will be assigned to Product B

Answers

Answer:

XYZ Company

Account verification costs assigned to Product B are:

= $55,400.

Explanation:

a) Data and Calculations:

Activities                           Total Costs    Activity-cost drivers  Activity Rates

Account inquiry                  $320,000      16,000 hours          $20 per hour

Account billing                    $160,000       3,200,000 lines     $0.05 per line

Account verification costs $138,600        60,000 accounts   $2.31 per account

Correspondence letters     $19,200         4,000 letters         $4.80 per letter

Total costs                        $637,800

Usage by Products

                                                     Product A              Product B

Account inquiry hours                 2,700 hours             1,800 hours

Account billing lines               820,000 lines         630,000 lines

Account verification                 23,000 accounts    24,000 accounts

Correspondence letters             1,500 letters          2,000 letters

Costs assigned to Product B

Account inquiry              $36,000 (1,800 * $20)

Account billing                $31,500 (630,000 * $0.05)

Account verification      $55,400 (24,000 * $2.31)

Correspondence letters $9,600 (2,000 * $4.80)

Total costs assigned   $132,500

Wasilko Corporation produces and sells one product The budgeted selling price per unit is $114. Budgeted unit sales for February is 9,900 units. Each unit of finished goods requires 6 pounds of raw materials. The raw materials cost $4.00 per pound. The direct labor wage rate is $24.00 per hour. Each unit of finished goods requires 2.4 direct labor-hours. Manufacturing overhead is entirely variable and is $9.00 per direct labor-hour. The variable selling and administrative expense per unit sold is $1.60. The fixed selling and administrative expense per month is $70,000. The estimated net operating income (loss) for February is closest to:

Answers

Answer: $21,080

Explanation:

First calculate the contribution margin per unit

= Sales - Variable costs

= Selling price - Raw materials - Direct labor cost - Manufacturing overhead - Variable selling and administrative expense

= 114 - (6 * 4) - (2.4 * 24) - (9 * 2.4) - 1.60

= $9.20

The Contribution margin is:

= 9.20 * 9,900 units

= $91,080

Net operating income = Contribution margin - fixed cost

= 91,080 - 70,000

= $21,080

On January 1, Parson Freight Company issues 7.0%, 10-year bonds with a par value of $4,500,000. The bonds pay interest semiannually. The market rate of interest is 8.0% and the bond selling price was $4,194,222. The bond issuance should be recorded as:

Answers

Answer: Debit Cash $4,194,222; Debit Discount on bonds payable $305,778; Credit Bonds payable $4,500,000

Explanation:

Based on the information given in the question, the journal entry will be prepared as follows:

Debit Cash $4,194,222

Debit Discount on bonds payable $305,778

Credit Bonds payable $4,500,000

Note that the discount on Bonds Payable was calculated as:

= $4,500,000 - $4,194,222

= $305,778

If a company spends $80 million to build facility space sufficient to hold 5 million pairs of footwear-making equipment at a site in Latin America, then the company's annual depreciation costs for this facility space will be

Answers

Answer: $8,000,000

Explanation:

From the question given, the cost of the building facility is $80 million. Also, it should be noted that the default rate for depreciation is given as 10%, therefore, the company's annual depreciation costs for this facility space will be:

= Depreciation rate × Cost of building

= 10% × $80,000,000

= 0.1 × $80,000,000

= $8,000,000

Firm A has a 21 percent marginal tax rate, and Firm Z has a 28 percent marginal tax rate. Firm A owns a controlling interest in Firm Z. The owners of Firm A decide to incur a $9,500 deductible expense that will benefit both firms.

Required:
Compute the after-tax cost of the expense assuming that:
a. Firm A incurs the expense
b. Firm Z incurs the expense

Answers

Answer:

a. $7,505

b.$6,840

Explanation:

a. Computation for the after-tax cost of the expense assuming that Firm A incurs the expense

Using this formula

After-tax cost = Deductible Expense - (Firm A Marginal tax rate* Deductible Expense)

Let plug in the formula

After-tax cost = ($9,500 - ($21%*9500)

After-tax cost = ($9,500 - $1,995)

After-tax cost=$7,505

Therefore the after-tax cost of the expense assuming that Firm A incurs the expense is $7,505

B. Computation for the after-tax cost of the expense assuming that Firm Z incurs the expense

Using this formula

After-tax cost = Deductible Expense - (Firm Z Marginal tax rate*Deductible Expense)

Let plug in the formula

After-tax cost =$9,500 -(28%*$9500)

After-tax cost =($9,500 - $2,660 )

After-tax cost=$6,840

Therefore the after-tax cost of the expense assuming that Firm Z incurs the expense is $6,840

Local marketing is an effective tool used by marketers to reach intended market segments. Groupon has capitalized on this concept by tailoring brands and marketing to the needs and wants of local customer segments—cities, neighborhoods, and even specific stores. According to its website, Groupon “offers a vast mobile and online marketplace where people discover and save on amazing things to do, see, eat, and buy. By enabling real time commerce across local businesses, travel destinations, consumer products, and live events, shoppers can find the best a city has to offer. Groupon is redefining how small businesses attract and retain customers by providing them with customizable and scalable marketing tools and services to profitably grow their businesses.” This concept lies at the heart of Groupon’s mission: “to connect local commerce, increasing consumer buying power while driving more business to local merchants through price and discovery.” To help consumers make those connections, Groupon offers a mobile app, online marketplace, and social media touchpoints where customers can readily access information on its daily deals. Questions: Q1. How does Groupon use target marketing? Provide examples. Q2. Discuss the ways in which small businesses can utilize local social media marketing in your community. Q3. Have you heard about Groupon? Explain their business Q4. Do you use Groupon? Q5. Is it effective in helping local businesses to meet the challenges of local marketing? Why or why not?

Answers

Answer:

hdhwhhdndnjsjndbxhhdhshhshxhx

Concord Company has recently tried to improve its analysis for its manufacturing process. Units started into production equaled 18900 and ending work in process equaled 1000 units. Concord had no beginning work in process inventory. Conversion costs are applied uniformly throughout production, and all materials are applied at the beginning of the process. How much is the materials cost per unit if ending work in process was 30% complete and total materials costs equaled $86940

Answers

Answer:

the material cost per unit is $4.60 per unit

Explanation:

The computation of the material cost per unit is shown below:

= Total material cost ÷ equivalent units of material

= $86,940 ÷ (18,900 - 1,000) × 100% + 1,000 × 100%

= $86,940 ÷ (17,900 + 1,000)

= $86,940 ÷ 18,900

= $4.60 per unit

Hence, the material cost per unit is $4.60 per unit

The same should be considered and relevant

On whom the trade bill drawn ?​

Answers

The bill of exchange is drawn by the seller of the goods and is accepted by the buyer.

Investing $2,000,000 in TQM's Channel Support Systems initiative will at a minimum increase demand for your products 3.0% in this and in all future rounds. Looking at the Round 0 Inquirer for Andrews, last year's sales were $163,189,230. Assuming similar sales next year, the 3.0% increase in demand will provide $4,895,677 of additional revenue. With the overall contribution margin of 34.1%, after direct costs this revenue will add $1,669,426 to the bottom line. For simplicity, assume that the demand increase and margins will remain at last year's levels. How long will it take to achieve payback on the initial $2,000,000 TQM investment, rounded to the nearest

Answers

Answer:

the payback period is 14 months

Explanation:

The computation of the payback period is shown below:

Profit is

= $2,000,000 - $1,669,426

= $330,574

Now payback period is

= 1 + $330,574 ÷ $1,669,426

= 1 +0.198 years

= 1.198 years

= 14.37 months

= 14 months

Hence, the payback period is 14 months

odson Company manufactures a product with a standard direct labor cost of 2.3 hours of labor per unit at $10.60 per hour. Last month, 170 units were produced using 90 hours at $11.60 per hour. What was the company's labor quantity variance

Answers

Answer:

Direct labor time (efficiency) variance= $3,190.6 favorable

Explanation:

To calculate the direct labor quantity variance, we need to use the following formula:

Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate

Direct labor time (efficiency) variance= (391 - 90)*10.6

Direct labor time (efficiency) variance= $3,190.6 favorable

Standard quantity= 2.3*170= 391

MC Qu. 147 Luker Corporation uses a process... Luker Corporation uses a process costing system. The company had $165,500 of beginning Finished Goods Inventory on October 1. It transferred in $842,000 of units completed during the period. The ending Finished Goods Inventory balance on October 31 was $163,200. The entry to account for the cost of goods manufactured during October is:

Answers

Answer:

Debit cost of goods sold $844,300

Credit finished goods inventory $844,300

Explanation:

Based on the information given The Appropriate journal entry to account for the cost of goods manufactured during October is:

Debit cost of goods sold $844,300

Credit finished goods inventory $844,300

($165,500 + $842,000 - $163,200 = $844,300)

(To record cost of goods manufactured)

Short-term investments are intended to be converted into cash within the longer of one year or the operating cycle of the business, and are readily convertible to cash. True or False

Answers

Answer:

True

Explanation:

The reasons why many companies invest in other companies includes

1. Due to excess cash not needed immediately, so invested to earn additional income to use for operations

2. Long- term strategic reasons etc

The criteria for a current asset is that the investment must be liquid and be able to convert to cash within one year (or become a long-term investment).

Short-term investments

This is a current assets. It is also called marketable securities. This is a form of an investments made in marketable securities that can be converted easily to cash which a company plans to hold for 1 year or less than one year.

The 3 categories of short-term investments. They includes:

1. Trading securities

2. available-for-sale securities

3. Held to maturity investment.

A small business owner visits his bank to ask for a loan. The owner states that she can repay a loan at $1,500 per month for the next 3 years and then $500 per month for three years after that. If the bank is charging customers 10 percent APR, how much would it be willing to lend the business owner?

Answers

Answer:

The bank will be willing to lend $ 28,800 to the business owner.

Explanation:

Given that a small business owner visits his bank to ask for a loan, and the owner states that she can repay a loan at $ 1,500 per month for the next 3 years and then $ 500 per month for three years after that, since the bank is charging customers 10 percent APR, to determine how much the business owner would be willing to lend the following calculation must be performed:

1500 x 12 x 3 + 500 x 12 x 3 = X

18000 x 3 + 6000 x 3 = X

54000 + 18000 = X

72000 = X

10 x 6 = 60

100 - 60 = 40

100 = 72000

40 = X

40 x 72000/100 = X

28800 = X

Therefore, the bank will be willing to lend $ 28,800 to the business owner.

Forner, Inc., manufactures and sells two products: Product Z1 and Product Z8. The company has an activity-based costing system with the following activity cost pools, activity measures, and expected activity:
Estimated Expected Activity
Activity Cost Pools Activity Measures Overhead Cost Product Z1 Product Z8 Total
Labor-related DLHs $112,190 600 2,000 2,600
Machine setups setups 40,440 500 700 1,200
Order size MHs 609,770 3,000 3,200 6,200
$762,400
The activity rate for the Machine Setups activity cost pool under activity-based costing is closest to:
$203.26 per setup
$190.55 per setup
$122.97 per setup
$33.70 per setup

Answers

Answer:

Machine setups= $33.7 per setup

Explanation:

Giving the following information:

Activity Cost Pools Activity Measures Overhead Cost Product Z1 Product Z8 Total

Machine setups setups 40,440 500 700 1,200

To calculate the activity rate for Machine setup, we need to use the following formula:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Machine setups= 40,440 / 1,200

Machine setups= $33.7 per setup

The Wood Valley Dairy makes cheese to supply to stores in its area. The dairy can make 250 pounds of cheese per day (365 days per year), and the demand at area stores is 180 pounds per day. Each time the dairy makes cheese, it costs $125 to set up the production process. The annual cost of carrying a pound of cheese in a refrigerated storage area is $12. Determine the optimal order size and the minimum total annual inventory cost.

Answers

Answer: 1. 1170 units

2. $14039

Explanation:

The optimal order size will be:

= ✓2AO/C

where,

A = Annual demand = 180 × 365 days = 65,700

O = Ordering cost = 125

C = Carrying cost = 12

EOQ = ✓(2AO/C)

= ✓(2 × 65700 × 125/12)

= ✓ 1368750

= 1170 units

Therefore, the optimal order size is 1170 units.

2. The minimum total annual inventory cost will be calculated as:

C = (Q /2)(H) +(D/Q)(S)

where,

Q = 1170 pounds

H = holding cost = $12

D = annual demand = 65,700

S =set up cost = $125

Therefore, the minimum total annual inventory cost will be:

C = (Q /2)(H) +(D/Q)(S)

C = {(1170) /2] × 12} + {(65,700 /1170) × 125}

= 7020 +7019

= 14,039

Therefore, the minimum total annual inventory cost is $14,039.

The two most important goals for government policy involve a​ trade-off between​ __________ and​ __________. A. big​ government; small government. B. ​taxation; government spending. C. direct​ regulation; indirect regulation. D. ​equity; efficiency.

Answers

Answer:

D

Explanation:

The country of Bolivia had a Gross Domestic Product of $79 billion in 2016 and a population of 11 million people, the GDP per capita would be ________.

Answers

Answer:

The GDP per capita of country of Bolivia would be $7,181.82.

Explanation:

GDP Per capita refers to a measure that calculates a country's economic output per person by dividing its GDP by its population.

Therefore, we have:

GDP per capita = GDP / Population = $79 billion / 11 million = $79,000,000,000 / $11,000,000 = $7,181.82

Therefore, the GDP per capita of country of Bolivia would be $7,181.82.

Is scented candle harmful to dogs?

Answers

Answer:

Scented candles are not harmful to dogs for normal use, but high concentrations in a confined space for a long time would have an impact on the dog's sense of smell.

Because the candles you use will cause a lot of burnt smoke which is harmful to dogs. And aromatherapy ingredients contain a lot of chemical substances. If the windows are opened, it will be ok, if not the more chemical substances accumulate, the more it will be harmful to dogs, or even to the health of people.

Here are several ways to avoid the harm caused by aromatherapy to dogs:

Do not ignite the two types of aromatherapy in a short time or at the same time, to avoid the two types of aromatherapy, which are mutually ineffective and produce toxic gas.

Try not to light candles in a closed bedroom when you sleep.

Keep air circulation.

Keep all kinds of aromatherapy out of reach of dogs.

Use Home Lights scented candles in the right way.

Explanation:

https://hlcandles.com/

g Find the monthly payment and estimate the remaining balance (to the nearest dollar). Assume interest is on the unpaid balance. 5-year car loan for $9700 at 5%; remaining balance after 4 years.

Answers

Answer:

Monthly payment $102.88

Outstanding balance after year 4 $1,201.76

Explanation:

First and foremost, the car loan amount of $9,700 is the present value of all monthly payments for 5 years as shown below:

PV=monthly payment*(1-(1+r)^-n/r

PV=car loan amount=$9,700

monthly payment=unknown

r=monthly interest rate=5%/12=0.004166667

n=number of monthly payments in 5 years=5*12=60

$9700=monthly payment*(1-(1+0.004166667)^-120/0.004166667

$9700=monthly payment*(1-(1.004166667)^-120/0.004166667

$9700=monthly payment*(1-0.607161016 )/0.004166667

$9700=monthly payment*0.392838984 /0.004166667

$9700=monthly payment*94.28134862

monthly payment=$9700/94.28134862

monthly payment=$102.88  

The outstanding balance after year 4 is the present value of monthly payments for the remaining 1 year(12 months)

PV=$102.88*(1-(1+0.004166667)^-12/0.004166667

PV=$102.88*(1-(1.004166667)^-12/0.004166667

PV=$102.88*(1-0.951328238 )/0.004166667

PV=$102.88*0.048671762 /0.004166667

PV=$1,201.76

Which of the following is a major difference between a budget constraint and production possibilities frontier?

a. A production possibilities frontier conveys the relative prices of the two goods, whereas a budget constraint accounts for diminishing returns.
b. A production possibilities frontier is usually straight, whereas a budget constraint is typically curved.
c. A budget constraint typically has a constant slope, whereas the slope of a production possibilities frontier is usually different at various points.
d. There is no difference. They convey the same information.

Answers

Answer:

c

Explanation:

The Production possibilities frontiers is a curve that shows the various combination of two goods a company can produce when all its resources are fully utilised.  

The PPF is concave to the origin. This means that as more quantities of a product is produced, the fewer resources it has available to produce another good. As a result, less of the other product would be produced. So, the opportunity cost of producing a good increase as more and more of that good is produced.  

So, the PPF exhibits diminishing return. The slope of the PPF is different at different points. this makes the PPF a curve

the budget constraint is a straight line that shows the various combinations of goods a consumer can consume given her income. the budget constraint is a straight line because the slope is constant at each point on the curve

Also, the slope of the budget constraint is the relative prices of the two goods

Select the market segment that looks the most promising?
1. Luxury trenfollowers
Segment size 5,000(5%)
Growth rate 7%

2. School children
Segment size 35,000 (35%)
Growth rate 1%

3. University students
Segment size 24,099(24%)
Growth rate 5%

4. Outdoor enthusiasts
Segment size 14,000 (14%)
Growth rate 5%

5. Urban commuters
Segment size 20,000 (20%)
Growth rate 3%

Answers

Answer:

Luxury Trend followers

Explanation:

The consider which market segment shows the most or higest level of promise, we may have to the growth rate of each segment, which is the percentage change in earnings or revenue over a specific period of time. From the data given, the market segment with the greatest growth rate is the trend followers segment with a growth rate of 7%

Luxury trend followers : 7%

School children : 1%

University students : 5%

Outdoor enthusiasts : 5%

Urban Commuters : 3%

Selected accounts with a credit amount omitted are as follows: Work in Process Apr. 1 Balance 7,500 Apr. 30 Goods finished X 30 Direct materials 60,000 30 Direct labor 191,000 30 Factory overhead 57,300 Finished Goods Apr. 1 Balance 13,500 30 Goods finished 307,300 What was the balance of Work in Process as of April 30? a.$307,300 b.$13,500 c.$57,300 d.$8,500

Answers

Answer:

the balance in work in process in april 30 is $8,200

Explanation:

The computation of the balance in work in process in april 30 is as follows:

Balance of Work in Process as of April 30 is

= Apr 1 Balance + Direct material + direct labor + overhead - goods finished

= $7,500 + $60,000 + $191,000 + $57,000 - $307,300

= $8,200

Hence, the balance in work in process in april 30 is $8,200

This is the answer but the same is not provided in the given options

Good afternoon. Kindly assist on the following please. Assignment due by 4:30pm Mike bookshop had the following structure. Share capital 500000 ordinary shares of $1 each. 300000 10% preference of $1 each. Reserves Share premium 200 000 General reserves 100 000 Retained earnings 400 000 8% debenture 100 000 During the year the following transaction took place. 01 January issue of 200 000 $1 ordinary shares at$1,20 and 100 000 preference shares at $2 each. 01 June a 1 for 4 right issue at a premium of $0,10c each per share. 01 December 1 for 5 bonus shares fully paid. All shares issued during the year qualified for bonus and the company wishes to leave the reserves in their flexible form. Required. Balance sheet extract.​

Answers

Answer:

Mike Bookshop

Balance Sheet Extract as at December 31

Share capital:

1,050,000 ordinary shares of $1 each    $1,050,000

400,000 10% preference of $1 each           400,000

Total share capital                                   $1,450,000

Reserves:

Share premium                                            357,500

General reserves                                         100,000

Retained earnings                                      225,000

Total reserves                                          $682,500

8% debenture                                           $100,000

Explanation:

a) Data and Analysis:

Share capital:

500000 ordinary shares of $1 each.

300000 10% preference of $1 each.

Reserves:

Share premium 200 000

General reserves 100 000

Retained earnings 400 000

8% debenture 100 000

During the year the following transaction took place.

01 January Cash $240,000 Ordinary share capital $200 000 Share Premium $40,000

$1 ordinary shares at$1.20 and

01 January Cash $200,000 Preferred share capital $100 000 Share Premium $100,000

01 June Cash $192,500 Ordinary share capital $175,000 Share Premium $17,500

a 1 for 4 right issue at a premium of $0.10c each per share.

01 December Retained Earnings $175,000 Ordinary share capital $175,000

1 for 5 bonus shares fully paid.

Ordinary share capital:

Beginning balance         $500,000

January 1 issue                 200,000

June 1 rights issue            175,000

Dec. 1 bonus issue            175,000

Ending balance           $1,050,000  

Preferred share capital:

Beginning balance          $300,000

January 1 issue                  100,000

Ending balance              $400,000

Share Premium:

Beginning balance        $200,000

January 1 issues               140,000

June 1 rights issue             17,500

Ending balance            $357,500

General reserves         $100,000

Retained Earnings:

Beginning balance      $400,000

Dec. 1 Bonus issue        (175,000)

Ending balance          $225,000

Chicotti Company has 6,000 units in beginning work in process, 30% complete as to conversion costs, 75,000 units transferred out to finished goods, and 2,000 units in ending work in process 20% complete as to conversion costs. The beginning and ending inventory is fully complete as to materials costs. How much are equivalent units for materials if the FIFO method is used

Answers

Answer:

71,000

Explanation:

Calculation to determine How much are equivalent units for materials if the FIFO method is used

Using this formula

Equivalent units for materials=(Units transferred out to Finished goods + Units in ending work in process – Units in beginning work in process)

Let plug in the formula

Equivalent units for materials=75,000 + 2,000 – 6,000

Equivalent units for materials= 71,000

Therefore the equivalent units for materials if the FIFO method is used will be 71,000

How many BTU's are in a ton

Answers

Answer:

12.000

Explanation:

Because 1 ton equals 12,000 BTU.

For example, 48,000 BTU equals 4 tons, and 60,000 BTU equals 5 tons.

Other Questions
Can a result that contains road maps for European countries have a highly meets rating Use the coordinates of the labeled point to find the point-slope equation of the line.(12, -1) which of the following union territories is located along the West Coast of India given f(x)=2x-4 and g(x)=x213, determine gf[x]] James Buchanan Was widely known in the 18th century as the best president is this true 1. Identify the taxa labeled A, B, C, andDin the chart.A.B.C.D. From what you know about "get, what does "Did you get how to do that math- problem?' mean?OA. Understand how to do the math problemB. Buy a program to help you with mathC. Pick up the math notesD. Keep up with the math notes PLEASE HELP ME FAST!!!QUESTION IN ATTACHMENTS To create a land breeze Group of answer choices the cool air over the land rises, creating low pressure. Warm air over water sinks, creating high pressure. This creates an offshore breeze. the warm air over the land rises, creating low pressure. Cool air over water sinks, creating high pressure. This creates an offshore breeze. the warm air over the land sinks, creating high pressure. Warm air over water rises, creating low pressure. This creates an offshore breeze. the cool air over the land sinks, creating high pressure. Warm air over water rises, creating low pressure. This creates an offshore breeze. Salma invested $8000 in a fund for 6 years and was paid simple interest. The total interest that she received on the investment was $1400. As a percentage, what was the annual interest rate of her investment? In the United States, if the price of imported oil rises so that the prices of gasoline and heating oil rise, then the a. consumer price index rises much more than does the GDP deflator. b. consumer price index rises slightly more than does the GDP deflator. c. GDP deflator rises much more than does the consumer price index. d. GDP deflator and the consumer price index rise by about the same amount. bob swarm 4/9 killometers to an island .then he swam 2/9 killometers to a boat how far did he swim in all Lines AB and CD (if present in the picture) are straight lines. Find x. Give reasons to justify your solutions. Considering the complex process of communication, discuss the relationship between language and culture? Suppose you deposit $500 in a savings account where the interest earned is compoundedcontinuously at a rate of 10%. How many years will it take the balance in the account to reach$8000 (round your answer to the nearest year)? FIND THE EQUATION OF THE LINE SHOWN: QUICK I NEED TO SUMBIT MY HW Sipho buys a bread on Monday and eats a third of it. On Tuesday he eats half of what is left over. If the bread is cut in 21 slice how many slice are left for Wednesday? riya writes a letter,.tag question 4.a. The total area of the model is 130 m2. Write an equation to find x. b. Solve the equation by completing the square.A. (x + 2)(2x + 2) = 130; x = 5.12 mB. (x + 2)(2x + 2) = 130; x = 6.70 mC. (x + 2)(x + 2) = 130; x = 9.40 mD. (x + 2)(2x + 2) = 130; x = 6.58 m please solve both match the following and true or false i need to submit