​laura and alan are a married couple with three small children. alan earns $60,000 a year, but laura has no earned income. what

Response:

cash   110,000 debit

  land                   100,000 credit

  gain from disposal  10,000 credit

--to document the land sale--

accounts payable 80,000 debit

               cash               80,000 credit

--to record the settlement of debts--

gain from disposal 10,000 debit

                Morgan           7,500 credit

                Halsted          2,500 credit

--to allocate gains from sale--

Morgan 22,500

Halsted    7,500

   Cash                30,000

--to dissolve the partnership--

Clarification:

ratio 3:1 (3+1=4)

Morgan  15,000 share of 3/4 = 75%

Halsted   5,000 share of 1/4 = 25%

a gain of 10,000 from the sale is shared as follows

Morgan 10,000 x 75% =  7,500

Halsted 10,000 x 25% =   2,500

Next, we close the accounts against cash

Answer:

Explanation:

(1) Recording the Transactions:-

Heritage Designs

General Journal

For November, 20Y9

Date            Accounts             Debit                Credit

Nov. 1            Cash                   $50,000

                          Common Stock                          $50,000

Nov. 1             Rent Expense     $4,000  

                           Cash                                   $4,000

Nov. 6            Office Equipment    $15,000  

                          Accounts Payable                   $15,000

Nov. 8            Truck                      $38,500  

                           Cash                                    $5,000

                           Notes Payable                           $33,500

Nov. 10             Supplies              $1,750  

                           Cash                                    $1,750

Nov. 12             Cash                     $11,500  

                            Fees Earned                            $11,500

Nov. 15           Prepaid Insurance     $2,400  

                           Cash                                   $2,400

Nov. 23           Accounts Receivable  $22,300  

                         Fees Earned                            $22,300

Nov. 24            Truck Expense         $1,250  

                            Cash                                    $1,250

Nov. 29          Utilities Expense           $4,500  

                              Cash                                    $4,500

Nov. 29   Miscellaneous Expense      $1,000  

                               Cash                                   $1,000

Nov. 30                Cash                  $9,000  

                         Accounts Receivable                        $9,000

Nov. 30          Wages Expense              $6,800  

                                 Cash                                 $6,800

Nov. 30             Accounts Payable         $3,000  

                                   Cash                                 $3,000

Nov. 30                  Dividends                   $2,500  

                                    Cash                                    $2,500

(2) Posting Transactions to the General Ledger:-

Cash

Date               Items                   Debit                 Credit                Balance

Nov. 1 Common Stock  $50,000                         $50,000

Nov. 1 Rent Expense                                $4,000        $46,000

Nov. 8 Truck                                        $5,000             $41,000

Nov. 10 Supplies                                        $1,750              $39,250

Nov. 12 Fees Earned           $11,500                                 $50,750

Nov. 15 Prepaid Insurance                        $2,400        $48,350

Nov. 24 Truck Expense                        $1,250              $47,100

Nov. 29 Utilities Expense                        $4,500             $42,600

Nov. 29 Miscellaneous Expense               $1,000              $41,600

Nov. 30 Accounts Receivable   $9,000                                 $50,600

Nov. 30 Wages Expense                        $6,800              $43,800

Nov. 30 Accounts Payable                        $3,000              $40,800

Nov. 30 Dividends                                $2,500              $38,300

Accounts Receivable

Date    Items               Debit                      Credit               Balance

Nov. 23 Fees Earned    $22,300                                   $22,300

Nov. 30 Cash                                         $9,000        $13,300

Supplies

Date    Items               Debit                      Credit               Balance

Nov. 10   Cash              $1,750                                $1,750

Prepaid Insurance

Date    Items               Debit                      Credit               Balance

Nov. 15    Cash               $2,400                                 $2,400

Equipment

Date    Items               Debit                      Credit               Balance

Nov. 6 Accounts Payable $15,000                              $15,000

Truck

Date    Items               Debit                      Credit               Balance

Nov. 8 Cash               $5,000                              $5,000

Nov. 8 Notes Payable $33,500                              $38,500

Notes Payable

Date    Items               Debit                      Credit               Balance

Nov. 8 Truck                                      $33,500          $33,500

Accounts Payable

Date    Items               Debit                      Credit               Balance

Nov. 6 Equipment                             $15,000           $15,000

Nov. 30 Cash               $3,000                                          $12,000

Common Stock

Date    Items               Debit                      Credit               Balance

Nov. 1 Cash                                     $50,000    $50,000

Dividends

Answer:

A) 10,000 units = 15.75 dollars each

15,000 units = 10.5 dollars each.

B) 10,000 units = 1,260,000 in variable costs

15,000 units = 1,875,000 in variable costs

Explanation:

To determine the first figure, simply divide the fixed costs, which include operational and administrative expenses from the production of goods, by the total units produced, computed as follows:

157,500/10,000= 15.75

157,500/15,000=10.5

To calculate the difference regarding variable costing, multiply the per-unit cost by the total units expected to be produced:

126x10,000=1,260,000

126x15,000=1,875,000

Response:

Steve Jobs' return, new innovations, and Tim Cook assuming the COO role

Clarification:

Stock price variations are linked to the company’s success in achieving its goals and the belief that it will continue to thrive.

Initially, there was a notable rise in Apple’s stock from $27.97 to $702.10, marking a 25-fold increase.

This surge is attributed to Steve Jobs returning as CEO, which instilled confidence. Innovations such as the iPhone, iMac, iPod, and iTunes also contributed to enhanced performance and, subsequently, stock value.

However, after Tim Cook became COO, production was cut by 50%, leading to a decline in stock by 37% from its peak in September 2012 to $442.66 by the end of March 2013, down from $702.10.