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8_murik_8 [283]
3 years ago
14

The following information is available for Moiz Company:________.

Business
1 answer:
notsponge [240]3 years ago
8 0

Answer and Explanation:

1. Interest Revenue $23,000  

 Sales Revenue $510,000  

              To Income Summary $533000

(Being closing of revenues accounts are closed)

2. Income Summary $453,000

  To Sales returns $20,000

      To Sales Discounts  $7,000

     To Cost Of goods sold $310,000

     To Freight out $2,000

      To Advertise Exp $15,000

      To Interest Exp  $19,000

      To Salaries & Wages $55,000

      To Utility  $18,000

      To Depreciation $7,000

(Being closing of expenses accounts are closed)

3. Income Summary $80,000

      To Retained Earning $80,000

(Being profit is recorded)

4. Retained Earning $30,000

        To Dividends  $30,000

(Being closing of dividend is recorded)

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This is a False Statement.

Generally Accepted Accounting Principles (GAAP) need not be followed by managerial accountants when preparing management reports.

Specifically, management accounting aims to

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Hide or show questions Progress:10/40 items Roman Industries' plant operates five days per week with a daily payroll of $6,000.
Stels [109]

Answer:

$12,000

Explanation:

Calculation to determine the amount of Wages Expense recorded on the next payday, Saturday, April 3

Wages Expense =$6,000*2days

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2 years ago
A car dealer acquires a used car for $12,000, with terms FOB shipping point. Compute total inventory costs assigned to the used
bagirrra123 [75]

Answer:  

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Explanation:  

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Shipping insurance    $170

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8 0
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qaws [65]

Answer:

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The very first step in the decision tree (below) was ignored. Disregarding local laws is ignoring the question of legality.

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3 years ago
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