Answer:
ans-b
Explanation:
The ans is b, hope it helped you.Have a nive day
Answer:
Journal Entry
Explanation:
The Journal Entry is shown below:-
Materials Dr, $190,000
Accounts Payable 190,000
(Being Material repurchase is recorded)
Therefore for recording the material purchase we debited the materials and credited the accounts payable.
So, as per the question, the correct entry is above. The option is not available.
Answer:
The correct answer is "-$7200 (Unfavorable)".
Explanation:
Given:
Actual quantity,
= 54000 pounds
Standard price,
= $3 per pound
Standard quantity,
=
=
As we know,
⇒ By substituting the values, we get
⇒
⇒
⇒
Answer:
$49.137 million
Explanation:
The accounting equation gives the relationship between the elements of a balance sheet as
Assets = Liabilities + Equity
Equity is further divided into common stock and retained earnings which is the accumulated net income over the years net of dividends declared and settled.
Equity = Common stock + Retained earnings
Equity = $127.921 million - $74.974 million
= $52.947 million
Retained earnings = $52.947 million - $3.810 million
= $49.137 million