A document that totals what the customer owes is called ____

Adair Valley issued $20,000,000 of general obligation bonds to construct a multipurpose arena. These bonds will be serviced by a

Arlecino [84]

Answer: Please see explanation column for answer.

Explanation:

a) Journal entry to record the budget

Account Debit Credit

Estimated Revenues $2,500,000

Appropriation $2,000,000

Budget fund $500,000

Calculation

Budget fund= Estimated Revenues-Appropriation = $2,500,000- $2,000,000= $500,000

b) Journal entry to record the the expenditure when the interest comes due for payment.

Account Debit Credit

Expenditure Interest $2,000,000

Matured Interest payable $2,000,000

7 0

2 years ago

Chaurice has a lot of friends and was elected president of her class. Before she was elected, she volunteered as a peer mentor f

bulgar [2K]

Answer: C. Extraversion and Agreeableness

Explanation:

Extraversion is described as the quality of enjoying the company of people as opposed to be alone. A person that scores high on Extraversion charts is an EXTROVERT and enjoys being the centre of attention as well.

Chaurice had a Lot of Friends and was outgoing enough to help students adjust as a Peer Mentor. This shows that she is an EXTROVERT.

Agreeableness is the quality of being nice. An Agreeable person is compassionate, friendly, polite and empathetic. Such people tend to make good friends and are good team players.

Chaurice caring for Freshmen and having a lot of friends puts her in this category as well.

8 0

2 years ago

Read 2 more answers

On January 1, 2017, Doone Corporation acquired 70 percent of the outstanding voting stock of Rockne Company for $672,000 conside

bogdanovich [222]

Answer:

Question a:

The non-controlling interest of Rockne´s 2018 net income is $111,000.- calculated by taking 30% of Rockne´s net income of $370,000.-

Question B:

There are 3 entries required to eliminate te sale of goods form rochne to doone.

The first entry eliminates the sales recorded by rockne against te inventory or cost of goods sold by recorded by doone. To consider, the 60% of the purchases went trhough cost of good sol d and 40% of the purchases remain in inventory until the following year. Here is the engru:

Debit/sales/$530

Credit/COGS/ ($318) 60%

Credit inventory ($212) 40%

The next entry has to do with the amount of inventory that remained from the last intercompany transaction. This is caclulated usin 40% of 2017 sales, which were $430. So:

Debit inventory $172

Credit Cogs ($172)

The last part is to eliminate the recievable on the book of rockne when they made te sale

Debit Payable $530

Credit receivable ($530)

6 0

2 years ago

Carlos Consulting Inc. provides financial consulting and has collected the following data for the next year’s budgeted activity

ipn [44]

Answer:

1. 40%

2. $1140

Explanation:

1. The material loading charge usually covers the costs of purchasing, receiving, handling, and storing materials, plus any desired profit margin on the materials themselves and expressed as a percentage of the total estimated costs of parts and materials for the year.

Step 1

Compute the supply cost:

Supply cost = Supply clerk’s wages + Fringe benefits of supply + Related overhead of supply

Supply cost = $18,000 + $4,000 + $20,000 = $42,000

Step 2

Calculate the material loading charge:

material loading charge = ((supply costs/Total estimated material cost)×100) + Profit margin on materials

Material loading charge = (($42,000/$168,000)×100) + 15%

Material loading charge = 25% + 15% = 40%

The material loading charge is 40%

2. Calculating the Client's bill

Step 1

Calculate the estimated consultant cost (ECC):

ECC = Consultants’ wages + Fringe benefits for consultant + Related overhead for consultant

ECC = $90,000 + $22,500 + $17,500 = $130,000

estimated consultant cost = $130,000

Step 2

Calculate the total price per consulting hours (PCH)

Cost per consulting hour = estimated consultant cost /Total estimated consulting hours

Cost per consulting hour = $130,000/5,000 = $26

Price per consulting hours = Cost per consulting hour + Profit margin per hour

Price per consulting hours = $26 + $20 = $48

total price per consulting hours = Price per consulting hours × 20

total price per consulting hours = $48 × 20 = $960

Client's bill = total price per consulting hours + $180 of materials

Client's bill = $960 + $180 = $1140

The client's bill is $1140

3 0

2 years ago

Where does the management accounting function fit into an organization's structure?

LUCKY_DIMON [66]

Management accounting is the process of measuring and analyzing financial and non-financial information that is relevant to the company. This is an important part of the Controller’s function in an organization since the Controller directly reports to the chief financial officer. The report contains pieces of information which contributes in making strategic decisions to achieve the goal of the organization.

6 0

2 years ago

A document that totals what the customer owes is called _____.