All categories

2 years ago

Any purchased materials that will go into the finished product are first recorded in the.

1 answer:

3 0

Any material purchased will be recorded in the Raw material inventory account. The option for the first blank is raw and second blank is material.

<h3>What is Inventory Account?</h3>

Inventory Account refers to the account which records all the transactions related to the stock. It records the purchased of the stocks, work in progress, closing stock, opening stock etc.

The complete question is attached below.

The raw material inventory account is where all materials that will be used to create the final product are first registered.

Learn more about raw material here:

brainly.com/question/13376768

#SPJ1

You might be interested in

Someone with dollar bills to lend will never agree to make a loan with a nominal interest rate of less than zero because:

saw5 [17]

<span>Having a nominal interest rate less than 0 would mean that a depositor pays a bank to hold its money. If the annual nominal interest rate is negative 1 percent, a deposit of $1000 dollar would come out $10 dollar short the following year which is why someone with dollar bills will never agree to loan with a nominal interest rate that is negative percent.

</span>

7 0

3 years ago

Admire County Bank agrees to lend Givens Brick Company $300,000 on January 1. Givens Brick Company signs a $300,000, 8%, 9-month

Harlamova29_29 [7]

Answer:

The correct option is C.

Cash A/c Dr $300,000

To Notes Payable $300,000

(Being notes payable issued)

Explanation:

As brick company has sign a $300,000 note which consist 7% interest rate and the duration of note is 9 month on January 1

The question has asked the journal entry on January 1 date.

So, the journal entry is

Cash A/c Dr $300,000

To Notes Payable $300,000

(Being notes payable issued)

The interest part should be ignored because in the question they asked the journal entry of January 1 not in the end of the month. According to the date of asking the journal entry, the amount is to be calculated. Thus, interest should not be considered.

Hence, the correct option is C.

Cash A/c Dr $300,000

To Notes Payable $300,000

(Being notes payable issued)

5 0

3 years ago

_____ can be useful in analyzing how a choice affects a particular market and shapes the economic system as a whole.

ololo11 [35]

Answer:

A. Opportunity Cost

Explanation:

Choice affecting an economic system, market can be studied by : Macro Economics which studies Economy as 'a whole'.

On contrary, Microeconomics studies individual units of economy & marginal analysis is a tool used frequently in it. And ,Normative Economics reflects subjective non verifiable statements about how economy 'should be'.

So , all of three are not apt to analyse the above statement.

However, Opportunity Cost reflects cost of next best alternative sacrifised while making an economic choice. So ,it is useful to analyse 'choice' affecting an economic system, market. Eg :Opportunity cost is an important tool used in determining comparative advantage of a country in producing a good based on its opportunity cost (other good sacrifised to produce it).

7 0

3 years ago

"Ginny sells bottled water from a small stand by the beach. On the last day of summer vacation, many people are on the beach, an

konstantin123 [22]

Answer:

Explanation:

Once out of Ginny sight, Alex faces a dilemma: Work very hard (put in all effort) or shirk (put in little effort). If he works hard, he'll sell enough water to generate $90 in earnings (not including his personal cost). If he shirks, he'll only generate $50 in earnings. After the end of the work, he'll split his earnings with Ginny and also get half of what she earns at her stand. In terms of Eric's total utility, it is worse for him to work hard. Close A If Alex works hard, Alex and Sunita together earn $270 ($180 + $90), of which Eric keeps $120. However, he loses $20 worth of utility by working hard. Therefore his net earnings is $100. If he shirks, Eric and Ginny together earn $270 ($200+ $70), of which Eric will keeps $120, while his personal cost is zero. Therefore Alex, individually, is better off when he shirks. A more better way of finding the solution to the problem is to note that from Eric's view, the amount of money he gets from Ginny's sales from the stand does not rely on his own sales.

3 0

4 years ago

Stevenson Company purchased equipment for $250,000 on January 1, 2010. The estimated salvage value is $50,000, and the estimated

evablogger [386]

Answer:

The answer is loss of $10,000 on the sale of the equipment

Explanation:

The formula for straight-line depreciation is:

(Cost of asset - salvage value) ÷ number of useful life.

Cost of asset is $250,000

Salvage value is $50,000

Useful life is 5 years

So depreciation for the year is:

($250,000 - $50,000) ÷ 5 years

$200,000 ÷ 5 years

=$40,000

January 1 2010 through June 30 2013 is 3 years and 6months

Accumulated depreciation will be:

3.5 years( 3 years + 6months/12 months) x $40,000

$140,000

Carrying value or net book value at this date is $250,000 - $140,000

=$110,000.

The equipment was sold for $100,000.

Selling price - carrying value

=$100,000 - $110,000

= - $10,000

We have a loss of $10,000 on the sale of equipment

8 0

3 years ago