The great disparity in economic prosperity between north and south korea can best be explained by the ____________

On January 1, Kirk Corporation had total assets of $864,000. During the month, the following activities occurred: Kirk Corporati

Whitepunk [10]

Answer:

The amount of total assets of Kirk Corporation at the end of the month is $ 871,400

Explanation:

Total assets at January 1 = $864,000

Equipment purchased = $ 7,400

Supplies purchased = $ 3,640

Cash paid for supplies = $ 3,640

Cost of land sold = $16,400

Cash received from Land sold = $16,400

Therefore total amount of cash out = $ 16,400 + $3,640 = $ $20,040

Total amount of cash in = $ 7,400 + $ 3,640 + $16,400 = $27,440

Amount of total assets at the end of the month = $864,000 + $27,440 - $20,040 = $ 871,400

4 0

3 years ago

Which of the following statements accurately brings out the difference between a perfectly competitive industry and a monopolist

rewona [7]

Answer:

its d

Explanation:

industry has the freedom to raise prices

5 0

4 years ago

Altoid Company sold most of its inventory produced during the period. The manager needs to close the $1,200 balance of Manufactu

Likurg_2 [28]

Explanation:

The journal entry to close the books is

Cost of Goods sold A/c Dr $1,200

To Manufacturing Overhead A/c $1,200

(Being the under-applied overhead is recorded)

Since the jobs were undercosted, that means the overhead is applied under overhead so we debited the cost of goods sold account and credited the manufacturing overhead account. Both the items are recorded for $1,200

5 0

4 years ago

Northstar Company uses ABC to account for its chrome wheel manufacturing process.

Gwar [14]

Answer:

Instructions are below.

Explanation:

First, we need to calculate the predetermined overhead rate for each activity:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Materials handling= 12,000/3,000= $4 per part

Machine setup= 3,400/10= $340 per setup

Insertion of parts= 48,000/3,000= $16 per part

Finishing= 80,000/2,000= $40 per finishing direct labor hour

Job 420 used 150 parts, required 2 setups and consumed 100 finishing hours.

Job 510 used 500 parts, required 4 setups and consumed 310 finishing hours.

To allocate costs, we need to use the following formula:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Job 420:

Materials handling= 4*150= $600

Machine setup= 340*2= $680

Insertion of parts= 16*150= $2,400

Finishing= 40*100= $4,000

Total allocated cost= $7,680

Job 510:

Materials handling= 4*500= $2,000

Machine setup= 340*4= $1,360

Insertion of parts= 16*500= $8,000

Finishing= 40*310= $12,400

Total allocated cost= $23,760

6 0

3 years ago

During her visit to a beauty salon, Lily browsed through Inner Beauty, a magazine dedicated to working women, while she was wait

katovenus [111]

Answer:

C, pass-along readership

Explanation:

A pass-along reader is an individual that does not purchase a magazine or newspaper to read but rather reads a paper or magazine after someone else has purchased.

Pass-along readership accounts for most parts of the readership that we have today.

In the case of Lily, reading a magazine that she did not pay for while waiting at the reception is a clear case of pass-along readership because she did not purchase the magazine but rather read it after the salon has purchased it.

Cheers.

8 0

3 years ago

The great disparity in economic prosperity between north and south korea can best be explained by the​ _____________.

The great disparity in economic prosperity between north and south korea can best be explained by the _____________.