Answer:
Explanation:
The adjusting entries are shown below:
1. Inventory A/c Dr $386,100
To Accounts payable $386,100
(Being the purchase of inventory is made on credit and discount basis)
2. Accounts payable $386,100
To Cash A/c $386,100
(Being the amount is paid for cash)
The computation of inventory after applying the discount is shown below:
= Number of units purchased × price of each satellite uplink system × (100 - discount rate)
= 15 units × $26,000 × (100 - 1%)
= $386,100
VTC's purchase total was $390,000. They received a discount of $3,900 and paid a net amount of $386,100 on January 6, 2022. The inventory and payable accounts were debited and credited respectively on the purchase date, followed by clearing the payable account and crediting the cash account on the payment date.
The first step is to calculate the purchase cost of the satellites. The purchase total is 15 units at $26,000 each, which equals $390,000.
Next, compute the discount amount. The terms 1/10, and n/30 mean that if VTC pays the invoice within 10 days, they receive a 1% discount. Therefore, calculate 1% of $390,000 which is $3,900.
On January 6, 2022, VTC paid the net-of-discount amount. So, subtract the discount from the total to find out how much was paid. That means $390,000 - $3,900 = $386,100.
Now, let's prepare the necessary journal entries. On the purchase date, December 28, 2021:
On the payment date, January 6, 2022:
In this scenario, there's no need for an entry to account for Purchase Discounts as the amounts were already accounted for under the net method.
#SPJ12
Answer:
Break-even point in units= 2,000
Explanation:
Giving the following information:
Fixed costs= $6,000
Selling price= $6 each
Unitary variable cost= $3
To calculate the break-even point in units, we need to use the following formula:
Break-even point in units= fixed costs/ contribution margin per unit
Break-even point in units= 6,000 / 3
Break-even point in units= 2,000
Activities not on the critical path cannot become critical after crashing.
Crashing shortens the project duration by assigning more resources to one or more of the critical tasks.
Crashing a project often reduces the time it takes for lengthy or complex, but noncritical activities.
Answer:
The correct answer is letter "A": Crashing is not possible unless there are multiple critical paths.
Explanation:
Project crashing is a technique used to reduce the duration of a project to the least amount of extra cost by decreasing one or more critical activities. All of this is usually arranged in multiple entry charts where each critical activity receives the name of "critical path". It is imperative to have several critical paths so the crashing can be the most effective possible.
1. Prepare a schedule of depreciation expense, accumulated depreciation, and book value per year for the equipment under the three depreciation methods: straight-line, units-of-production, and double-declining-balance. Show your computations. Note: Three depreciation schedules must be prepared.
2. Which method tracks the wear and tear on the equipment most closely?
The straight-line method applies a consistent depreciation expense every year, the units-of-production method correlates depreciation with actual usage, and the double-declining-balance method accelerates depreciation. The units-of-production method tracks wear and tear on the equipment most closely.
Straight-Line Method:
Depreciation expense per year = (Cost - Residual value) / Useful life = ($33,000 - $6,000) / 4 = $6,750
Accumulated depreciation per year = Depreciation expense × Number of years
Book value per year = Cost - Accumulated depreciation
Units-of-Production Method:
Depreciation expense per hour = (Cost - Residual value) / Total estimated hours = ($33,000 - $6,000) / 6,750 = $3.26
Depreciation expense per year = Depreciation expense per hour × Number of hours operated
Accumulated depreciation per year = Sum of depreciation expenses each year
Book value per year = Cost - Accumulated depreciation
Double-Declining-Balance Method:
Depreciation expense = Book value at beginning of year × (2 / Useful life)
Accumulated depreciation per year = Sum of depreciation expenses each year
Book value per year = Cost - Accumulated depreciation
#SPJ12
The straight-line, units-of-production, and double-declining-balance depreciation methods result in different depreciation expenses which are based on the cost, salvage value, and usage of the equipment. The units-of-production method is the most accurate in tracking the wear and tear of the equipment as it considers the actual hours of operation.
The depreciation schedules for the three different methods; straight-line, units-of-production, and double-declining-balance, can be calculated as follows:
The units-of-production method most accurately tracks the wear and tear on the equipment as it directly ties the depreciation expense to the hours of the equipment's operation.
#SPJ11
Answer:
Debit Supplies expense $9200
Credit Supplies account $9200
Explanation:
The adjustment required is for the recognition of supplies used. When supplies are purchased, Debit Supplies account, credit cash or accounts payable. On use of supplies, Debit Supplies expense, credit Supplies account
The movement in the balance of supplies at the start and end of a period is as a result of usage and purchases. While usage reduces the balance in supplies, purchases increases the balance. This may be expressed mathematically as
Opening balance + purchases - units used = closing balance
$2,700 + $9,600 - Units used = $3,100
Units used = $2,700 + $9,600 - $3,100
= $9,200
Answer:researchers should use caution when accessing information from Wikipedia, online forums and blogs.
In conducting research for homework or an academic paper, you are basically conducting a search for facts: little tidbits of truth that you will assemble and arrange in an organized fashion to make an original point or claim. Your responsibility as a researcher is to understand the difference between fact and fiction, as well as the difference between fact and opinion.
When beginning your next assignment that requires sources, consider the credibility of those sources before including them in your final project.
Here are some common sources to avoid; each of these may include opinions and works of fiction disguised as facts.
Blogs
As you know, anyone can publish a blog on the Internet. The problem with using a blog as a research source is there no way to know the credentials of many bloggers or to get an understanding of the writer’s level of expertise.
People often create blogs to give themselves a forum to express their views and opinions. And many of these people consult less than reliable sources to form their beliefs. You could use a blog for a quote, but never use a blog as a serious source of facts for a research paper.
Wikipedia is not a reliable source. Wikipedia can be edited by anyone at any time. This means that any information it contains at any particular time could be vandalism, a work in progress, or just plain wrong. ... Wikipedia generally uses reliable secondary sources, which vet data from primary sources.
Same also goes with online forum
Answer:
200
Explanation:
you will get 200 dollars