Answer:
Sr. No Particulars Debit Credit
1 Finished Goods $135,600
Work In Process- Assembly department $135,600
Transferred completed goods from the Assembly department to finished goods inventory. The goods cost $135,600.
2 Account Receivable $315,000
Sales $315,000
Cost Of Goods Sold $ 175,000
Merchandise Inventory $ 175,000
Sold $315,000 of goods on credit. Their cost is $175,000.
This answer explains how to record the journal entries for the transfer of completed goods, sale of goods on credit, and cost of goods sold.
To record the transfer of completed goods from the Assembly department to finished goods inventory, you would debit Finished Goods Inventory and credit Work in Process Inventory. The journal entry would be:
Finished Goods Inventory: $135,600
Work in Process Inventory: $135,600
To record the sale of goods on credit, you would debit Accounts Receivable and credit Sales Revenue. The journal entry would be:
Accounts Receivable: $315,000
Sales Revenue: $315,000
To record the cost of goods sold, you would debit Cost of Goods Sold and credit Finished Goods Inventory. The journal entry would be:
Cost of Goods Sold: $175,000
Finished Goods Inventory: $175,000
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Answer:
No
Explanation:
In a competitive market, price should be a function of variable/marginal costs not fixed costs.
Answer:
Line Stretching
Explanation:
A company normally makes an up-market stretch to obtain higher profit margins, achieve market growth, or position itself as a complete producer.
if the tax rate is 23%, the amount of the annual tax shield on debt will be $87,975.
Total Interest = Total Bonds * Face Value * Coupon Rate
Total Interest = (5,000 bonds*$ 1,000) * 7.65%
Total Interest = $5,000,000 * 7.65%
Total Interest = $ 382,500
Annual Tax Shield =Total Interest * Tax Rate
Annual Tax Shield = $382,500*23%
Annual Tax Shield = $87,975
In conclusion, if the tax rate is 23%, the amount of the annual tax shield on debt is $87,975.
Read more about Annual Tax Shield
b. Labuk does not have a harassment claim based on national origin because the Fair Labor Standards Act (FLSA) allows employers to discriminate in favor of U.S. citizens.
c. Labuk has a harassment claim based on national origin because Title VII of the Civil Rights Act of 1964 provides protection against discrimination based on country of citizenship.
d. Labuk has a harassment claim based on national origin under Title VII of the Civil Rights Act of 1964 because he belongs to a protected racial class.
Answer:
a. Labuk does not have a harassment claim based on national origin because these two incidents, although offensive, do not create a hostile work environment.
Explanation:
In order for Labuk to have a valid harassment claim, his supervisor must have created an offensive and hostile work environment. Apparently, the supervisor's bad attitude is not shared by Labuk's colleagues, at least it doesn't say so in the question.
The supervisor's attitude might not have been appropriate, but two incidents in 20 years is something can happen to anyone and not just Labuk. Imagine how many times an employee might argue or have some type of dispute with a supervisor during 20 years. Labuk should have reported both incidents to a company's manager.
Revenue Expenses
(A) $18,600,000 $18,750,000
(B) $4,650,000 $ 4,687,500
(C) $4,650,000 $ 5,250,000
(D) $4,687,500 $ 4,687,500
Answer:
(C) $4,650,000 $ 5,250,000
Explanation:
total contract price is $ 18,600,000
season construction using percentage of completion method.
Amount of revenue & construction expense for the year ended december 31, 2020 will be
25% of $ 18,600,000 revenue = $ 4,650,000
25% of $ 18,750,000 total cost = $5,250,000
Answer:
disposable income minus consumption expenditure
Explanation: