Entries by Hannah Wangui

Our company earned a net income of $150,000 for 2017. On January 3, 2018, we declared a $1.20 per share dividend on our 100,000 outstanding shares of common stock to shareholders of record as of January 15, 2018. We will pay the dividend on February 3, 2018. Which account and amount should we credit when we journalize the entry needed on the date of declaration (January 3)

August 13, 2019 in /by

Our company earned a net income of $150,000 for 2017. On January 3, 2018, we declared a $1.20 per share dividend on our 100,000 outstanding shares of common stock to shareholders of record as of January 15, 2018. We will pay the dividend on February 3, 2018. Which account and amount should we credit when […]

 

Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"

1.1.Our company sells its product for $60 per unit and has a variable cost of $30 per unit. Total fixed costs equal $20,000. What would be the breakeven point in units if the fixed costs decreased by $2,000? a. 500 b. 600 c. 1,000 d. 1,200 2.Our company sells its product for $100 per unit and has a variable cost of $40 per unit. Total fixed costs equal $18,000. The breakeven in units is 300, and we expect to sell 350 units. What is the margin of safety in dollars? a.($5,000) b. 3,000 c.($3,000) d.$5,000 3.What are costs that do not change in total over a wide range of volume? a.variable costs b.fixed costs c.mixed costs d.relative costs 4.Fixed costs per unit will: A.increase as volume increases b. remain the same regardless of changes in volume c. decrease as volume increases d.decrease as volume decreases 5.Which of the following is a fixed cost? a.direct materials b.wages of production workers c.salary of production manager d. sales commission. What would be the breakeven point in units if the fixed costs decreased by $2,000? a. 500 b. 600 c. 1,000 d. 1,200 2.Our company sells its product for $100 per unit and has a variable cost of $40 per unit. Total fixed costs equal $18,000. The breakeven in units is 300, and we expect to sell 350 units. What is the margin of safety in dollars? a.($5,000) b. 3,000 c.($3,000) d.$5,000 3.What are costs that do not change in total over a wide range of volume? a.variable costs b.fixed costs c.mixed costs d.relative costs 4.Fixed costs per unit will: A.increase as volume increases b. remain the same regardless of changes in volume c. decrease as volume increases d.decrease as volume decreases 5.Which of the following is a fixed cost? a.direct materials b.wages of production workers c.salary of production manager d. sales commission

August 13, 2019 in /by

1.Our company sells its product for $60 per unit and has a variable cost of $30 per unit. Total fixed costs equal $20,000. What would be the breakeven point in units if the fixed costs decreased by $2,000?  a. 500 b. 600 c. 1,000 d. 1,200 2.Our company sells its product for $100 per unit […]

 

Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"

1.1.Our company sells its product for $60 per unit and has a variable cost of $30 per unit. Total fixed costs equal $20,000. What would be the breakeven point in units if the fixed costs decreased by $2,000? a. 500 b. 600 c. 1,000 d. 1,200 2.Our company sells its product for $100 per unit and has a variable cost of $40 per unit. Total fixed costs equal $18,000. The breakeven in units is 300, and we expect to sell 350 units. What is the margin of safety in dollars? a.($5,000) b. 3,000 c.($3,000) d.$5,000 3.What are costs that do not change in total over a wide range of volume? a.variable costs b.fixed costs c.mixed costs d.relative costs 4.Fixed costs per unit will: A.increase as volume increases b. remain the same regardless of changes in volume c. decrease as volume increases d.decrease as volume decreases 5.Which of the following is a fixed cost? a.direct materials b.wages of production workers c.salary of production manager d. sales commission. Total fixed costs equal $20,000. What would be the breakeven point in units if the fixed costs decreased by $2,000? a. 500 b. 600 c. 1,000 d. 1,200 2.Our company sells its product for $100 per unit and has a variable cost of $40 per unit. Total fixed costs equal $18,000. The breakeven in units is 300, and we expect to sell 350 units. What is the margin of safety in dollars? a.($5,000) b. 3,000 c.($3,000) d.$5,000 3.What are costs that do not change in total over a wide range of volume? a.variable costs b.fixed costs c.mixed costs d.relative costs 4.Fixed costs per unit will: A.increase as volume increases b. remain the same regardless of changes in volume c. decrease as volume increases d.decrease as volume decreases 5.Which of the following is a fixed cost? a.direct materials b.wages of production workers c.salary of production manager d. sales commission

August 13, 2019 in /by

1.Our company sells its product for $60 per unit and has a variable cost of $30 per unit. Total fixed costs equal $20,000. What would be the breakeven point in units if the fixed costs decreased by $2,000?  a. 500 b. 600 c. 1,000 d. 1,200 2.Our company sells its product for $100 per unit […]

 

Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"

On Jan 1, How Co. issued 9,000 shares of $3 par common stock for $7 per share. On Feb 1, the company purchased 3,000 shares for Treasury Stock for $18,000 total. On Mar 1, the company’s Board declared a 33% stock dividend on all outstanding shares. Stock on Mar 1 was selling for $7 per share. The journal entry for Mar 1 would include which one of the following components? A. a CREDIT to Cash for 14,000 B. a CREDIT to Retained Earnings for 6,000 C. a DEBIT to Additional Paid in Capital for 6,000 D. a CREDIT to Common Stock for 9,000 E. a DEBIT to Additional Paid in Capital for 24,000 On Feb 1, the company purchased 3,000 shares for Treasury Stock for $18,000 total. On Mar 1, the company’s Board declared a 33% stock dividend on all outstanding shares. Stock on Mar 1 was selling for $7 per share. The journal entry for Mar 1 would include which one of the following components? A. a CREDIT to Cash for 14,000 B. a CREDIT to Retained Earnings for 6,000 C. a DEBIT to Additional Paid in Capital for 6,000 D. a CREDIT to Common Stock for 9,000 E. a DEBIT to Additional Paid in Capital for 24,000

August 13, 2019 in /by

On Jan 1, How Co. issued 9,000 shares of $3 par common stock for $7per share. On Feb 1, the company purchased 3,000 shares for Treasury Stock for $18,000 total. On Mar 1, the company’s Board declared a 33% stock dividend on all outstanding shares. Stock on Mar 1 was selling for $7 per share. […]

 

Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"