Answer:
$12,800
Explanation:
This can be calculated as follows:
November sales in unit = 64,000
Since Wisdom Toys requires that 20% of the next month’s sales in units are on hand at the end of each month, we have:
Number of video games in inventory at October 31 = November sales in unit * 20% = 64,000 * 20% = 12,800
Therefore, 12,800 video games in inventory at October 31.
Answer:
4.500
Explanation:
According with the information say that the $120.000 correspond to overhead to the rate of 75% of direct labor force, so you have to calculate the portion that is directed to the direct labor cost:
Direct labor cost: $120.000 * 75%
Direct labor cost: $ 90.000
Now you know that the average wages per hour of the direct labor force is $20. Now you have to divide the direct labor cost by the average salary per hour to calculate the number of hours worked in June.
Number of hours = $ 90.000/$20
Number of hours = 4.500
Answer: Return the car and pay for the damage(D)
Explanation:
To disaffirm a contract means to avoid the obligations in a contract. A contract can be disaffirmed by a minor when he shows an intent that he or she isn't bound by it. Contracts can be disaffirmed by minors before they reach eighteen years. When a minor disaffirms a contract, all properties transferred to the minor can be gotten back.
In the scenario explained in the question, even though Eddie had damaged the car, he can disaffirm the contract and satisfy his duty if restitution by returning the car and paying for damage.
Amount to be recorded for accounts receivable would be $15000.
<u>Explanation:</u>
Accounts receivable are lawfully enforceable cases for installment held by a business for products provided as well as administrations rendered that clients/customers have requested yet not paid for. These are for the most part as solicitations raised by a business and conveyed to the client for installment inside a concurred time span.
Accounts receivable (AR) is the balance of money due to a firm for goods or services delivered or used but not yet paid for by the customers till now. So they will go in the accounts to still be receivable.
Answer:
The answer is false.
Explanation:
The $6,500 received for two seasons ticket is unearned revenue at September 1.
Unearned revenue have been received in advance but the customer has not enjoyed the service.
As the company enjoys this service monthly till the subscription finishes, revenue will be recognized and unearned revenue which is a liability in the balance sheet will reduce by the same value.
Two seasons ticket is 2 years(24 months).So what will be recognized monthly will be $270.83 ($6,500/24months)
September 1 through December 31 is 4 months.
So the adjusting entry at December 31 is 4 x $270.83
=$1,083.32
