Answer:
Dr. Freight-in $28
Dr. Supplies Expense $42
Dr. Entertainment of Clients $65
Dr. Postage Expense $30
Dr. Cash Short/over $3
Cr. Cash (200-32) $168
Explanation:
Petty cash is kept to deal with the day to day expense of the business. It is kept separate from the cash balance of the company.
To replenish the fund we, need to record the petty cash expenses in their respective accounts and deduct the amount from petty cash account.
If the cash is short or over the balance shown in the account we also need to record it.
The technique that the artist is using could be described as the alla prima technique in which it is often used in paintings such as the oil paintings. It is a painting technique that uses wet paint to be able to give out its spontaneous and fuzzy look. The wet paints that are being applied to the portrait has many layers to show its structure or the beauty of the technique.
Answer:
C. Bonus Depreciation only covers new equipment.
Explanation:
Bonus depreciation is the depreciation provided on additional capital investment. This is depreciation for tax base calculation, where any purchase of eligible asset is depreciated extra that means the purchase price is allowed as standard deduction in first year of it's purchase.
There is no such primary condition that the asset shall be new equipment only.
Therefore, incorrect statement is C
Answer:
5,275
Explanation:
The targeted pretax income is the difference between the targeted total sales and the estimated total cost.
The total cost is the sum of the fixed and variable cost. The sales and variable cost are dependent on the level of activities or number of units produced and sold.
Contribution margin is the difference between the sales and variable cost.
Let the number of units to be sold be F
114F - 34F - 222,000 = 200,000
80F = 422,000
F = 422,000/80
= 5,275
Answer:
Total variable cost if 4 units were produced
= $33.75 x 4 units = $135
Total fixed cost = Total cost - Total variable cost
Total fixed cost = $175 -$135
Total fixed cost = $40
Average fixed cost = Total fixed cost/No of units
Average fixed cost = $40/10 units
Average fixed cost = $4
The correct answer is B
Explanation:
In this case, we need to calculate the total variable cost on the ground that 4 units were produced. Then, we will determine the total fixed cost by deducting the total variable cost from total cost. Finally, we will divide the total fixed cost by 10 units in order to obtain the average fixed cost.
