Answer:
Rent expense debit and credit prepaid rent
Explanation:
Prepaid expense refers to those expenses that have been paid in advance before they are accrued. Some examples prepaid expenses are prepaid rent and prepaid insurance.
Prepaid expenses are debited and cash is credited at the time expenses are paid in advance. At the end of the year, adjustment entry is made when the expense expires. Following is the adjustment entry made at the end of the year:
Date Particulars Debit($) Credit($)
December Rent expense 45,600
31'2017 Prepaid expenses 45,600
(To record expired prepaid
rent)
Answer:
Explanation:
A) Lean production basically focuses on using all of the waste that a company produces in all of its processes so that no actual resources are left unused.
B) In this scenario, this can be achieved by using all of the excess baking mixtures and combining them into extra products as well as recycling used containers.
C) Carlos could either lower costs by using cheaper materials or hire more employees.
D) Batch production allows Carlos to produce large quantities of his products at a much faster and therefore more efficient pace. This also increases profits as they have more supply to match the demand.
E) This depends on whether or not Carlos has sufficient demand for his products. Otherwise, he would waste large amounts of money on implementing a flow production method and then not have enough demand to sell all of his products, which will therefore cost him even more money in losses.
Answer:
c. cease production immediately, because it is incurring a loss.
Explanation:
When a business engages in production it looks to make profit. That is for the production price to be higher than cost incurred in producing the good.
However when the price is lower than the average variable cost as is indicated in the scenario then the firm needs to shut down production in the short term.
Factors that will adversely affect a firm in the short term are price, average total cost, and average variable cost.
Once price is less than average total cost or average variable cost it is better to stop production.
As they are incurring an economic loss
Becoming aware of your assumptions and becoming open to different points of view can help you demonstrate respect for various approaches to work tasks and styles, making it easier for you to build relationships and be successful with others in your career.
Answer:
The answer is Letter C
Explanation:
Water World can recover the loss of profit from the delayed opening.
