Answer:
The journal entries alongwith its explanation are as under:
Explanation:
Journal entry at Jan 3, to record purchase of treasury stock would include the recording of treasury stock at the price paid to the shareholders for purchase of the stock, the journal entry is as under:
Dr Treasury Stock (1800 share*$8 per share) $14,400
Cr Cash $14,400
Journal entry at Jan 30, of selling treasury stock would include the elimination of the treasury stock at the amount purchased and the remainder will will be the Paid-In Capital, the journal entry is as under:
Dr Cash (1200*9) $10,800
Cr Treasury stock (1200*8) $9,600
Cr Paid in capital from sale of treasury stock $1,200
True, an ethics officers' role is to act as a counsellor for employees as well as an investigator for the firm.
The Ethics Officer is the company's inner or internal control point for ethical and improper conduct, allegations, objections, and improprieties, as well as providing leadership and guidance on corporate governance problems.
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Based on the information given the number of shares outstanding after the split will be: 160,000 shares.
Using this formula
Outstanding shares=Current shares outstanding × Number of the split
Where:
Current shares outstanding =40,000 shares
Number of the split =4
Let plug in the formula
Outstanding shares=40,000 shares×4
Outstanding shares=160,000 shares
Inconclusion the number of shares outstanding after the split will be: 160,000 shares.
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Answer:
1. Favorable
2. Unfavorable
3. Unfavorable
4. Favorable
5. Favorable
6. Unfavorable
7. Favorable
8. Favorable
Explanation:
1. Favorable
Less Profit is now being earned per sale
2. Unfavorable
More Debt more Financial risk
3. Unfavorable
Less Profit is now being earned per sale
4. Favorable
A lower ratio is good shows efficiency utilization of resources
5. Favorable
The company is efficient in collection of debt
6. Unfavorable
The earning per share is lower
7. Favorable
More efficient in inventory management
8. Favorable
More return given to investors
Answer:
The correct answer is C.
Explanation:
Giving the following information:
Fixed manufacturing overhead cost of $497,000, variable manufacturing overhead of $2.40 per direct labor-hour, and 70,000 direct labor-hours.
T 498:
Total direct labor-hours 80
First, we need to calculate the estimated manufacturing overhead rate for the period:
Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Estimated manufacturing overhead rate= (497,000/70,000) + 2.4= $9.5 per direct labor hour.
Now we can allocate the overhead to Job 498:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 9.5*80= $760