Answer:
cash 7,600
nearned revenue 7,600
cash 7,300
refundable deposist 7,300
cash 57,100
refundable deposist 7,300
unearned revenue 7,600
service revenue 76,000
sales tax expense 45,600
state tax payable 30,400
local tax payable 15,200
Explanation:
(1) as the services are not yet perform, this is a liability for Chicago Glass Corportation. It assumes to obligation of do this services.
(2)This will be refund once the job are complete and the containers returned in good form
(3) 72,000 - 7,600 = 64,400 - 7,300 = 57,100
Chicago deduct rom the invoince the previous payment and the refundable deposits once the transaction is finished.
(4)
760,000 x 4% = 30,400
760,000 x 2% = 15,200
30,400 + 15,200 = 45,600
Answer:
38880
Explanation:
Budgeted sales -870 boxes
Each box requires 44 pounds of clay
Opening inventory of clay = 3900 pounds
Closing inventory of clay = 4500 pounds
Clay mix cost - $0.40
Labor rate = $12/hr
Monthly purchase = budgeted sales + closing inventory - opening inventory
(870*44) + 3900 - 4500
38280 +4500 - 3900 = 38,880
Answer:
One would have to invest 55%
Duration of 3-year bond is 2.78
Then 5wZ + 2.78(1 - wZ) = 4
2.22wZ = 1.22
wZ = .5495
Explanation:
To properly understand the concept behind the above calculation, let us define some basic concept:
Portfolio: This can be refereed to as a phrase in finance. It refers to the collection on investment that is being held by an investment company, a financial institution such as a bank ,persons or an individual.
Zero coupon bond: A zero-coupon bond is a bond where the nominal or return on investment (ROI) value is repaid at the time of maturity. This definition usually reflects a positive time value of money.
We should also recall that the formula for zero coupon bond as:
price = M / (1 + i)^n
where: M = maturity value
i = required interest yield divided by 2
Applying this formula, we were able to arrive at the investment percentage.
Answer: $125,000
Explanation: In simple words, owner's equity refers to the funds that are contributed by the owners of the capital for effectively conduction the operations of the business.
Any profit that the organisation made during a year is treated as a return to the capital and is added to the initial capital while drawing from the capital results in decrease in the available fund for operations.
Hence the year end balance of the capital in given case is, $1000,000 + $50,000 - $25,000 = $ 125,000
Answer:
Process Costing
Explanation:
Process Costing allows so many units to be in production at the same time which are identical. The cost of each unit can be determined by calculating the average price using to total units produced.