Answer:
The correct options are:
A. Debit to Factory Overhead
D. Credit to Factory Utilities Payable
Explanation:
The debit entry of the use of utilities in a factory would be recorded in factory overhead since cost of utilities is a not a direct factory cost.
However, the corresponding credit would be in the factory utilities payable as an obligation awaiting payment to be made to the supplier of the service being enjoyed by the factory in order to run on daily basis
Answer: b. 233,500
Explanation:
The expected cashflow is;
= (EBIT * (1 - tax) ) + Depreciation - change in net working capital - capital expenditure
= (270,000 * (1 - 25%)) + 85,000 - 19,000 - 35,000
= $233,500
Answer:
(a) His AGI is $103,300.
$2,000 since only one of your daughters qualifies for the child tax credit (must be under 17 at year end).
(b) His AGI is $426,200.
$2,000 - (27 x $50) = $2,000 - $1,350 = $650
For 2018, the income threshold to qualify for the child tax credit increased to $400,000, and it starts to fade away up to $440,000. It phases out $50 per each $1,000 of additional AGI.
(c) His AGI is $428,900, and his daughters are ages 10 and 12.
($2,000 x 2 children) - (29 x $50 x 2 children) = $4,000 - $2,900 = $1,100
Answer: A. Reserves ↓: Excess reserves ↓; Loans ↓; Deposits ↓; Money supply ↓
Explanation:
The discount rate is the rate at which the Fed lends money to banks and other depository type institutions. Normally banks have a reserve requirement that the Fed requires of them which states how much they are to leave with the Fed as a reserve. Banks tend to fall short of this reserve sometimes and so can borrow from the Fed to balance it off.
If the Fed increase the rate at which these banks can borrow, they will not want to do so thus leaving their Reserves at the Fed lower than it should be. They will then use their excess reserves which is money kept in reserve more than the Fed requires, to balance off their reserve at the Fed.
As a result of this reduction in their Excess reserve, they will have less money to give out as loans. With less loans being made, people will not have as much money to deposit after taking the loans. Money supply will then fall as a whole.
Answer:
True
Explanation:
It's True because you have to deduct from the total Accounts Receivable the balance in the Cr Allowance for Uncollectible Accounts estimated.
The company estimate that 2% of the total Credit Sales will be uncollectible, which is, $4,000, if we deduct this value of the balance of accounts receivable of $38,000, we have a Net Realizable Value of Accounts Receivable of $34,000
Credit Sales $ 200,000
Cr Allowance for Uncollectible Accounts $ 4,000
Dr Accounts receivable $ 38,000
Net Realizable Value of Accounts receivable $ 34,000