Answer:
The beginning raw materials inventory balance is $10,900
Explanation:
In this question, we apply the formula ending balance of raw material which is shown below:
Ending balance of raw material = Beginning balance of raw material + purchase of material - material requisitions
$24,900 = Beginning balance of raw material + $58,600 - $44,600
$24,900 = Beginning balance of raw material + $14,000
So, the beginning balance of raw material
= $24,900 - $14,000
= $10,900
The best way to establish good credit is to open a savings account and a checking account, and manage them both well. Another good way to establish credit is to get a credit card and make small purchases with it.
What is credit card?
A credit card is a type of payment card that is given to customers (cardholders) to allow them to pay a merchant for products and services according to the amount of debt they have accumulated. The card issuer (typically a bank or credit union) establishes a revolving account and provides the cardholder with a line of credit from which they can borrow money to pay for purchases or receive a cash advance. Consumer credit cards as well as business credit cards are the two types of credit cards. The majority of cards are made of plastic, but some are made of metal (<u>stainless steel, gold, palladium, titanium</u>), while others have gemstones embedded in the metal.
To learn more about credit card
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Answer and Explanation:
The journal entries are shown below:
On Mar 12
Account receivable Dr $9,100
To Service revenue $9,100
(Being the service provided on the account is recorded)
For recording this we debited the account receivable as it increased the assets and credited the service revenue as it also increased the revenue
On Mar 20
Cash $8,918
Sales discount ($9,100 × 2%) $182
To Accounts receivable $9,100
(Being cash received recorded)
For recording this we debited the sales discount and cash as it increased the discount and assets and credited the account receivable as it reduced the assets
Answer:
First the bank will collect its $150,000 and then the county will collect $2,500 in unpaid property taxes.
Explanation:
Generally, liens get in line depending on the time that they were recorded (contractor then credit card) but property taxes have superiority over other liens even f they were recorded before. After the foreclosure, the liens cease to exist, but not the debt. The property will still owe $500 in taxes and the previous owner will still owe $3,000 to the contractor and $12,000 in credit card debt.
Answer:
A. an unadjusted credit balance at the end of the period if the write-offs during the period were less than the beginning balance.
Explanation:
