<u>Calculation of Cash Dividend;</u>
It is given that at the end of 2010, Washington corporation reported a $40,000 balance in its common stock account (par value $1 per share) and the treasury stock account balance was $720 (cost $6 per share). It means the number of equity shares outstanding were 40,000 – (720/6) = 39,880 Shares
Further we are given that during 2010, the company declared and paid a cash dividend at $1.50 per share.
Hence, the total amount of the 2010 cash dividend shall be 39,8880 shares * $1.50 = <u>$59,820</u>
Answer:
The correct answer is letter "D": Depreciation should not be recorded in years in which the market value of the asset has increased.
Explanation:
Depreciation indicates how much the value of the asset has been used. It also aims to match the cost of the asset to the income that the asset helps the company to earn. Used as an income tax deduction, the depreciation calculation provides businesses with an annual allowance for the use and deterioration of tangible assets such as machinery, equipment, and buildings.
<em>Depreciation is recorded throughout all the useful life of an asset until its disposal.</em>
Answer:
<u>False</u>
Explanation:
<em>There is no such thing</em> as community engagement graduation requirements. However there is internship as a requirement for college graduation.
Therefore , Orlando can use this internship to only fulfill his internship graduation requirements having learnt practical knowledge from the animal shelter for six weeks.
Answer:
Sherlok asked him wasssupppp and got job.
Explanation:
Question
Ellis Television makes and sells portable televisions. Each television regularly sells for $210. The following cost data per television is based on a full capacity of 10,000 televisions produced each period.
Direct material - $80
Direct Labour -$60
Manufacturing overhead(70% variable, 30% unavoidable fixed cos) -$40
A special order has been received by Ellis for a sale of 2,000 televisions to an overseas customer. The only selling costs that would be incurred on this order would be $6 per television for shipping. Ellis is now selling 6,000 televisions through regular channels each period. What should be the minimum selling price per television in negotiating a price for this special order?
Answer:
The minimum selling price = $174.
Explanation:
The minimum selling price to be acceptable for the special order be the same as the relevant variable cost of producing a unit.
The relevant variable cost = marginal cost of a unit
Marginal cost = Direct material + Direct labour + Variable manufacturing overhead + shipping cost
Marginal cost = 80 + 60 + (70%× 40) + 6
= 174
The minimum selling price = $174.
Note : The 30% balance of manufacturing overhead which represents unavoidable fixed costs is irrelevant for this decision. These are costs that would be incurred either way whether or not the special order is accepted.