Consumer protection is the movement to protect the valid interests of consumers and is a major force in small business today
Answer: $15,614.68
Explanation:
Sales are projected to grow by 4.8% the next year.
= 387,000 * ( 1 + 4.8%)
= $405,576
The Projected addition to Retained Earnings = Expected Sales * Profit Margin * Retention ratio ( amount that is not paid as Dividend)
= 405,576 * 0.055 * ( 1 - 0.3)
= $15,614.68
Answer:
The number of units the company would have to manufacture during the year would be 780,000 units
Explanation:
To find out how much purchase is made, first we have to calculate the production level. The equation for production level is shown below:
Production level = Closing stock of finished goods + Sales - Opening stock of finished goods
= 76,000 + 730,000 - 26,000
= 780,000 units
Rest cost like opening and ending balance of raw material , required gram is irrelevant for computation part. Thus, it is not considered.
Hence, The number of units the company would have to manufacture during the year would be 780,000 units
Answer and Explanation:
The Journal entry is shown below:-
Amount should be capitalized for new vehicle = Cost + Painting and new logo cost + Deluxe Roof rack and trailer hitch
= $15,600 + $6,600 + $2,900
= $25,100
We took the cost of painting and deluxe roof and trailer hitch costs into account as they are supposed to increase the vehicle's future benefits.
Depreciation = (Cost - Salvage Value) ÷ Number of Years
= ($25,100 - $6,300) ÷ 5
= $3,760 per year
In the year 2022 vehicle is used only for 6 months (July to Dec), depreciation expense for the year ended December 31, 2022 is
= $3,760 × 6 ÷ 12
= $1,880
So, the Journal entry is
Depreciation expense Dr, $1,880
To Accumulated Depreciation $1,880
(Being depreciation provided for the year 2022 is recorded)
Therefore for recording the depreciation provided for the year 2022 we simply debited the depreciation expenses while we credited the accumulated depreciation.
Answer:
Uptown industries have to deposit today $4,145.
Explanation:
To find the final capital at the end of the third year, we use the compound interest formula:
Final Capital (FC)= Initial Capital (IC)*[(1+interest(i))]^(number of periods(n))
FC=$3000*[1+2.75%]^(12)
FC= $4,145.35
Then, Uptown industries have to deposit today $4,145.
