Answers
Answer:
b)At the top of T account
Explanation:
The account name is always written at the top of a T account. The account name is also the account title.
A T account has a standard format. The title or the name is what differentiates them.
Related Questions
Lyme Home has 5,000 bonds outstanding with a face value of $1,000 each and a coupon rate of 7.65 percent. Interest is paid semiannually. What is the amount of the annual tax shield on debt if the tax rate is 23 percent
Which of the following is not an important question to ask when developing a data collection plan?a. Who will be responsible for collecting the data?b. What is the source of the data?c. What is the reason for collecting the data?d. Is it possible to make decisions without collecting data?
The cost of speeding relates crashed in 2008 accounted for per second
Mixed Costs and Cost Formula Ben Palman owns an art gallery. He accepts paintings and sculpture on consignment and then receives 20% of the price of each piece as his fee. Space is limited, and there are costs involved, so Ben is careful about accepting artists. When he does accept one, he arranges for an opening show (usually for 3 hours on a weekend night) and sends out invitations to his customer list. At the opening, he serves wine, soft drinks, and appetizers to create a comfortable environment for prospective customers to view the new works and to chat with the artist. On average, each opening costs $600. Ben has given as many as 20 opening shows in a year. The total cost of running the gallery, including rent, furniture and fixtures, utilities, and a part-time assistant, amounts to $120,000 per year.Required:1. Assume that the cost driver is number of opening shows. Develop the cost formula for the gallery's costs for a year.2. Using the cost formula developed above, what is the total cost for Ben in a year with 12 opening shows?$Using the cost formula developed above, what is the total cost for Ben in a year with 14 opening shows?$
Answers
Answer: 161.1%
Explanation:
Given that,
Direct labor costs for Chester = $32,680
Labor costs could have been $20,000 higher
Productivity index shows the ratio between the labor costs with improvements and labor costs without improvement in production.
Productivity Index =
=
= 161.1%
Final answer:
The productivity index for Chester, which measures the savings in labor costs due to productivity improvements, is approximately 62.06%. This suggests that, without the investments in training, Chester's labor costs would have been about 38% higher.
Explanation:
In order to calculate the productivity index for Chester, we need to understand that the productivity index essentially measures the savings in labor costs resulting from production improvements, expressed as a percentage. In this particular case, Chester was able to save $20,000 in labor costs due to investments in productivity-enhancing training.
The original direct labor costs for Chester was $32,680. Had Chester not made any productivity improvements, the labor costs would have been $32,680 plus an additional $20,000, for a total of $52,680. Therefore, the productivity index is calculated by dividing the original labor cost by what the labor cost would have been without the productivity improvements, and multiplying by 100, as follows: ($32,680 / $52,680) * 100. This equation gives a productivity index of approximately 62.06%. This means that Chester's labor costs would have been approximately 38% higher without the productivity improvements.
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i. the classic look of traditional wingtips
ii. the savings that would come from buying the wingtips the money
iii. the no-lace convenience of slip-ons
iv. the pride that comes with wearing the more expensive shoes
Answers
Final answer:
Opportunity Cost refers to potential gain given up by choosing one option over others. For Sean, this includes the vintage look of wingtips and the saved $50 if he chooses slip-ons instead of wingtips. The convenience and pride Sean gets from the slip-ons don't count as Opportunity Cost since they are benefits, not losses.
Explanation:
The concept of Opportunity Cost in economics and business refers to the loss of potential gain from other options when one option is chosen. In Sean's case, the Opportunity Cost of buying the more expensive slip-ons shoes includes:
- The classic look of traditional wingtips: Sean gives up the vintage statement a lace-up wingtips may offer;
- The savings that would come from buying the wingtips: Sean would spend $50 extra buying the slip-ons than if he chose the wingtips;
However, the last two points: 'the no-lace convenience of slip-ons' and 'the pride that comes with wearing the more expensive shoes' do not fit into the Opportunity Cost. They instead are perceived benefits of the chosen slip-ons and not what is given up when he chooses that option.
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Answers
Answer:
Dr interest expense $7,000
Dr notes payable $7,238
Cr cash $14,238
Explanation:
The first task is to compute interest expense on the loan in year 1 which is shown below:
interest expense=$100,000*7%
interest expense=$7,000
Principal repayment=repayment-interest repayment
Principal repayment=$14,238-$7,000=$7,238
The double entries are to debit interest expense and notes payable with $7,000 and $7,238 respectively while cash is credited with $14,238 as an outflow of cash.
Answers
Answer:
The weight of equity in to be use to calculate the firm's WACC is 0.48 or 48%
Explanation:
The weight of equity to be used in firm's WACC computation is market value of equity divided by the sum of market value of equity ,preferred stock and bonds.
Market value of equity=44,000*$32 =$1,408,000.00
Market value of preferred stock=7,500*$92 =$690,000
Market value of bonds=$825,000*$989/$1000=$815,925.00
Sum of market values =$ 2,913,925.00
Weight of equity=market value of equity/Sum of market values=$1,408,000.00/$2,913,925.00= 0.48 =48%
1. Assume the firm can sell these 800 loaves at $1 per unit, will it continue to produce banana bread?2. What is the firm's total revenue?3. What is the firm's total cost?4. What is the firm's profit or loss?
Answers
Answer:
1. No
2. $800
3. 820
4. Loss = $-20
Explanation:
Total revenue = price x quantity = 800 x $1 = $800
Total cost = ( 6 x $40) + (5 × $60) + (4 × $60) + (2 × $20) = $820
Profit / loss = Total revenue - Total cost
$800 - $820 = $-20
Because the firm is earning a loss, the firm would not continue to produce.
I hope my answer helps you.
Answers
Answer: $550,000
Explanation:
From the question, we are informed that Barney and Betty sold their home (sales price $750,000; cost $200,000) and that all the closing costs were paid by the buyer.
Since no unusual or hardship circumstances apply and all the closing stocks were paid by the buyer, the amount of the gain that will be included in gross income will be:
= $750,000 - $200,000
= $550,000