The journal entry to be made to accrue wages expense at September
30 would be:
(Computation for the accrued salaries: 35,000/5 = 7,000 x 3
= 21,000)
Debit
Salaries and Wages Expense 21,000
Credit
Salaries and Wages Payable 21,000
At the next payday which is October 2, the entry would be:
Debit
Salaries and Wages Payable 21,000
Salaries and Wages Expense 14,000
Credit
Cash 35,000
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Answer:
$846,000
Explanation:
Paid in capital = Par value of shares + Share premium paid or Additional paid in capital
So,
Par value of total issued shares = (54000 + 36000) * 7 = $630,000
Premium can be calculated as
for 54000 shares = 9 - 7 = $2/share
or 36000 shares = 10 - 7 = $3/share
this gives us a total additional paid in capital of
= (54000 * 2) + (36000 * 3) = $216,000
Paid in capital = 216000 + 630000 = $846,000
Note that capital dividends are deducted from the premium account where as cash dividends are deducted from retained earnings leaving no impact on paid in capital. We are assuming cash dividends.
Answer:
c. reduction strategy
Explanation:
Based on the situation being described within the question it can be said that Wayth is using a reduction strategy. This is a strategy used by companies who are struggling with sales and may or may not be losing money. With this strategy they reduce costs in many aspects of the business in order to try to increase profits and survive. Which is what Wayth is doing by closing the most under-performing facilities and laying off unessential staff.
Answer: Requitred units =34,285.7 units
Explanation:
GIVEN
Total Per Unit Sales
$ 300,000 $ 10
Variable expenses 180,000 <u> $6 </u>
Contribution margin 120,000 $ 4
Fixed expenses 100,000
Net operating income $ 20,000
New selling price=Old price - prosed price
=$10-$0.5 = $9.5
Revised contribution margin= Selling price-Variable costs
= $9.5-$6=$3.5
Proposed Contribution margin=Net operating income + Fixed expenses.
=(100,000 +20,000)= $120,000
Required units to be sold=Proposed Contribution margin/Contribution margin per unit
= $120,000/$3.5
=34,285.7 units
