After graduation, you plan to work for Dynamo Corporation for 12 years and then start your own business. You expect to save and

Answer:

Journal Entries

1) Debit Salary Expense $6,667 Credit Bank $6,667

2) Debit Fuel and Maintenance Expense $600, Credit Bank $600

3) Debit Depreciation Expense $amount Credit Accumulated Depreciation $amount

4) Debit Insurance Expense $amount Credit Bank $amount

5) Debit Benefit Expense $amount Credit Accrued Benefit Expense $amount

6) Debit Accounts Receivable (total of all trips) $amount Credit Service Revenue $amount

Explanation:

The prompt is not complete, but I will create typical journal entries for the transactions without numerical figures.

1) The salary represents one month, and the in brackets is a $80,000*1/12 calculation showing that the $80,000 is annual; should this have been already recorded, we would debit salaries payable $6,667 and credit bank $6,667

4) Insurance expense is debited if paid as incurred, but if there's a Prepaid Insurance account, we credit the Prepaid Insurance account instead of Bank.

$0.20 Explanation: To determine the adjustment in the future price, the initial step is calculating the loss, as follows: Loss = Initial Margin - Maintenance Margin = $4,000 - $3,000 = $1,000. The future price adjustment will then be Loss divided by the size of the contract, returning to $1,000 ÷ 5,000 ounces = $0.20. Thus, the future price rises by $0.20. If the margin call isn't satisfied, the broker will step in at the maximum price to prevent additional losses.

Answer:

Espinoza Company

The activity rate for the order fulfillment cost pool:

Expenses associated with fulfilling orders divided by the number of orders

= $130,500/3,500

= $37.29 per order

Explanation:

a) Relevant data and calculations:

Overhead expenses:

Salaries and wages: 220,000

Other expenses: 150,000

Total: $510,000

Distribution of resource usage:

Filling Orders Activity Cost Pools

                                    Filling Orders  Customer Support  Other  Total

Wages and salaries             35%                      55%              10%     100%

Other expenses                  35%                    50%              15%     100%

Fulfilling orders: 3,500 orders

Customer support: 15 customers

Overhead Allocation:

                              Filling Orders  Customer    Other        Total

                                                       Support

Salaries and wages: $77,000        $121,000      $22,000     $220,000

Other expenses:        $53,500           $75,000        $22,500        $150,000

Total:                       $130,500       $196,000      $44,500     $370,000

The activity rate for fulfilling orders is determined as $130,500/3,500, giving $37.29 per order.

Activity Based Costing (ABC) is a costing method that uses activity pools to gather and allocate overhead expenses based on the level of engagement for each activity pool.

Answer:

The available options are:

a. 4,800

b. 6,000

c. 5,400

d. 54,000

The correct option is D, $54,000.

Explanation:

The value of the award each year is calculated by multiplying the number of shares granted by the share's closing price at the year's end.

To clarify, the value of Collen's 900 shares awarded by her employer is $54,000 (900*$60).

Hence, option D, $54,000 is the right choice. The other options are incorrect as multiplying any closing price by 900 would yield an amount around $54,000, excluding figures like $4,800, $6,000, or even $5,400.