Answers
Answer:
20% is your best answer choice.
Explanation:
We are looking at the people who will be willing to buy sandwiches from $4.01 to $5, or the purple color.
The purple color takes up just a little less than a quarter of the circle (25%). The closest answer to 25% that is still less than 25% is 20%, so B. is your best answer.
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Answer:
It would be 20%
Explanation:
1+2+7+4+6 = 20
20%
Related Questions
Picayune company purchased 40,000 of Stewart Company's 100,000 shares for $400,000 on 1/1/X1 when Stewart's equity consisted of $500,000 capital stock and $500,000 of retained earnings. An appraisal of Stewart's assets failed to identify any mis-valued assets. Picayune designated the Investment as a fair value investment. During year X1, Stewart earned a $100,000 net income and paid $50,000 of dividends. On 12/31/X1, Stewart's stock traded at $10.20 per share. How much investment income should Picayune recognize in year X1?
Answers
Answer:
a. $8,000
b. $20,000
c. $28,000
d. $40,000
The correct answer is B,$20,000
Explanation:
The investment income attributable to entire shareholders of Picayune is the amount of dividends paid,which is $50,000.
Out of which Picayune is entitled to 40% (40,000/100,000) based on the shareholding of Picayune in Stewart Company.
Dividends received by Picayune =40%*$50,000=$20,000
The investment income of Picayune to be recognized in year X1 is $20,000
A company had the following purchases and sales during its first year of operations: Purchases Sales January: 22 units at $180 14 units February: 32 units at $185 12 units May: 27 units at $190 16 units September: 24 units at $195 15 units November: 22 units at $200 28 units On December 31, there were 42 units remaining in ending inventory. Using the Perpetual LIFO inventory valuation method, what is the cost of the ending inventory
Answers
Answer:
$7,815
Explanation:
As per Perpetual LIFO inventory valuation method the inventory purchased at last will be sold first and the value of ending inventory can be calculated as follows. The inventory sold has been deducted from the purchased inventory in that period first and then has been deducted from the previous period to arrive at the cost of ending inventory;
January: 8 units x $180 = $1,440
February: 20 units x $185 = $3,700
May: 11 units x $190 = $2,090
September: 3 units x $195 = $585
Cost of Ending Inventory of 42 units is $7,815
Samco signed a 5-year note payable on January 1, 2018, of $ 475 comma 000. The note requires annual principal payments each December 31 of $ 95 comma 000 plus interest at 9%. The entry to record the annual payment on December 31, 2021, includes A. a debit to Interest Expense for $ 17 comma 100. B. a debit to Interest Expense for $ 42 comma 750. C. a credit to Cash of $ 137 comma 750. D. a credit to Notes Payable for $ 95 comma 000.
Answers
Answer:
Option A, a debit to Interest Expense for $ 17 comma 100 is correct
Explanation:
The principal amount on 1st January 2021 needs to be established since that would be the amount left after 2018,2019,2020 principals have been repaid
Principal at 1st January 2021=$475,000-($95,000*3)=$190000
Interest on principal in 2021=$190000 *9%=$17100
Total repayment in 2021=principal plus interest=$95,000+$17,100=$ 112,100.00
The $95,000 would be a debit to notes payable not credit hence option is wrong.
Only option A,a debit of $17,100 to interest expense is correct
Martin Services Company provides its employees vacation benefits and a defined contribution pension plan. Employees earned vacation pay of $49,000 for the period. The pension plan requires a contribution to the plan administrator equal to 6% of employee salaries. Salaries were $500,000 during the period. a. Provide the journal entry for the vacation pay. b. Provide the journal entry for the pension benefit.
Answers
Answer:
a. Provide the journal entry for the vacation pay
Debit Vacation and Holiday expense $49,000
Credit Vacation and Holiday payable $49,000
(To record earned Vacation and Holiday expenses)
b. Provide the journal entry for the pension benefit
Debit Pension expense $30,000
Credit Pension liability $30,000
(Being pension benefit recognition)
Explanation:
The earned vacation and holiday expense has to be recognized in line with the accrual principle of accounting.The pension benefit was also recognized in line with the accrual principle of account. The pension plan is a contribution of 6% of employee salaries, which amounted to $500,000. So, 0.06 x 500,000 = $30,000.Department G had 2,400 units 25% completed at the beginning of the period, 13,300 units were completed during the period; 2,000 units were 20% completed at the end of the period, and the following manufacturing costs debited to the departmental work in process account during the period:
Work in process, beginning of period $32,200
Costs added during period:
Direct materials (12,900 units at $9) 116,100
Direct labor 75,000
Factory overhead 25,000
All direct materials are placed in process at the beginning of production and the first-in, first-out method of inventory costing is used. What is the total cost of the units started and completed during the period (round unit cost calculations to four decimal places and round your final answer to the nearest dollar)?
a. $197,947
b. $181,306
c. $164,665
d. $98,100
Answers
Answer:
The total cost of the units started and completed during the period is $181,306. The right answer is b
Explanation:
In order to calculate the total cost of the units started and completed during the period we would have to calculate the Equivalent units as follows:
Equivalent units:
Whole units material conversion
Beginning units 2,400 0 1,800(75%)
Units started and complete 10,900 10,900 10,900
(13,300-2,400)
Total transferred 13,300 10,900 $ 12,700
Ending units 20,00 2,000 400(20%)
Equivalent units 15,300 12,900 13,100
Equivalent cost per unit:
Material conversion
Cost incurred this period $116,100 $100,000
÷ equivalent units ×12,900 ÷13,100
Cost per equivalent unit $9 $7.6336
Therefore, the total cost of the units started and completed during the period =10,900 units×($9+7.6336)
=$181,306
On January 1, Year 1, Bryson Company obtained a $147,750, four-year, 7% installment note from Campbell Bank. The note requires annual payments of $43,620, beginning on December 31, Year 1. Prepare an amortization table for this installment note, similar to the one presented in Exhibit 4. Journalize the entries for the issuance of the note and the four annual note payments. Describe how the annual note payment would be reported in the Year 1 income statement.
Answers
Answer and Explanation:
According to the scenario, computation of the given data are as follow:-
1) The amortization schedule is presented on the attachment below:
2).
Journal Entry
1 Jan Cash A/c Dr. $147,750
To Notes payable A/c $147,750
(Being the cash received is recorded)
31 Dec Interest expense A/c Dr. $10,342.50
Notes payable A/c $33,277.50
To Cash A/c $43,620
(Being the annual payment of installment including interest is recorded)
31 Dec Interest expense A/c Dr. $8,013.08
Notes payable A/c $33,606.93
To Cash A/c $43,620
(Being the annual payment of installment including interest is recorded)
31 Dec Interest expense A/c Dr. $5,520.59
Notes payable A/c $38,099.41
To Cash A/c $43,620
(Being the annual payment of installment including interest is recorded)
31 Dec Interest expense A/c Dr. $2,853.83
Notes payable A/c $40,766.17
To Cash A/c $43,620
(Being the annual payment of installment including interest and setting off liabilities is recorded)
3).
Bryson Company
Income Statement
Particular Amount ($)
Revenue -
Expenses
Less - Interest expense 10,342.50
Less - Other expenses -
Net Income -
Please help ASAP giving BRAINLIEST , Did I get this correct?
Answers
Answer:
Yes you are correct on this researched it
Answer:
YEAH:)
Explanation:
