Answer:
Accounts Receivable 3,400
Consulting Revenue 3,400
Supplies 1,000
Accounts Payable 1,000
Cash 2,400
Accounts Receivable 2,400
Accounts Payable 1,000
Cash 1,000
Utilities expense 800
Cash 800
Explanation:
The services are earned and were only billed not collected. So the company should reocgnize the receivable
The purchase of supplies is con credit, the company will recognize a liability
When the company collects from the account, it will decrease and cash will increase
When paying the supplier, their cash decrease and the liability is write-off
The utilities expense are cost of the period, so are recognize as expense.
Answer:
d.$500
Explanation:
Economic order quantity is the quantity at which business incur minimum cost. This is the level of order where the holding cost equals to the ordering cost of the business.
As per given data
Annual Demand = 5,000 cases
Ordering cost = $250
Carrying cost = $10
EOQ = 
EOQ = 
EOQ = 500
Answer:
$375
Explanation:
If Johnson will use the desired gross margin percentage to determine the selling price of its products, they must use the following formula:
selling price per unit = total manufacturing costs per unit / (1 - gross margin)
Total manufacturing costs = variable manufacturing costs + total fixed costs + batch level fixed overhead = $2,350,000 + $1,200,000 + $200,000 = $3,750,000
total manufacturing cost per unit = $3,750,000 / 20,000 units = $187.50
selling price per unit = $187.50 / (1 - 50%) = $187.50 / 50% = $375
Answer:
Date General Journal Debit Credit
Debt investment 8850
Cash 8850
Dec 30 Cash 7000
Debt investment 6500
Gain on sale of investment 500
Explanation:
