The answer is: Balance sheet
The balance sheet on the financial statements will show the total amount of each accounts that the company manages to accumulate throughout its operational years. The amount of the balance sheet on current year will be used as a starting point when calculating the balance sheet for the next year
Answer:
e. under-applied by $4,000
Explanation:
The overhead rate was calcualte considering labor cost:
144,000 / 240,000 = 0.60
Each dollar of labor cost applies 60 cent of overhead
applied overhead:
$220,000 labor cost x 0-60 each = 132,000 applied overhead
now we compare against the 136,000 actual overhead
as we didn't met the value and fell short, we have underapplied the overhead.
Answer:
unconstitutional under the "dormant" commerce clause.
Explanation:
The Commerce Clause (Article 1, Section 8, Clause 3 of US Constitution) state that Congress has the power <em>"to regulate commerce with foreign nations, and among the several states, ..."</em>
The dormant commerce clause refers to limitations on state powers, which cannot pass any law that excessively burdens or discriminates against interstate commerce. Only Congress has the power to regulate interstate commerce.
I think this is an example of repositioning.
Answer:
B. Increase both assets and equity by $180
Explanation:
Since Global cleaning service performed cleaning services for a departmental store for account for $180
So this transaction would be recorded as
Account receivable $180
To Service revenue $180
(Being the service performed is recorded)
By passing this journal entry, it increases the balance of the asset and together with it the equity balance is also increases due to an increase in service revenue