Answer: The March 31 adjusting journal entry shoud include $1200
Explanation: Given that the
Supplies on hand = $500
Candy purchased supplies of $1200 and used supplies of $500
The unused supplies will be:
1200 - 500 = 700 dollars
The March 31 adjusting journal entry shoud include the addition of the supplies on hand and the unused supplies. That is,
500 + 700 = 1200 dollars
First, he wanted to do something he enjoyed.
second, he wanted a business that would give back tot he community.
third, he wanted a business that would grow and be more successful every year.
fourth, realizing that he was going to have to work very hard, Micheal wanted a business that would generate a minimum income of 25,000 annually.
<u>Solution and Explanation:</u>
a)
Date Account Head & Description Debit Amount Credit Amount
Land Debit (62 multiply 25000) 1550000
Treasury Stock Credit (53 multiply25000) 1325000
Paid - in Capital from treasury stock Credit
(1550000 minus1325000) 225000
(To record purchase of land)
b) One might use the cost of treasury stock. However, this is not a relevant measure of this economic event. Rather, it is a measure of a prior, unrelated event. The appraised value of the land is a reasonable alternative (if based on appropriate fair value estimation techniques). However, it is an appraisal as opposed to a market-determined price. The trading price of the stock is probably the best measure of fair value in this transaction.
Answer:
A product-management organization is sometimes characterized as a hub-and-spoke system because the brand or product manager is figuratively at the center, with spokes leading to various departments representing working relationships.
Explanation: This statement is made because a product manager is one who is in constant research on the different components that interfere in the development of a product and its behavior in the market, so there is communication with the different departments of a company and it is said which is the center of the business.
Example: In a chocolate factory a product manager would be responsible for ensuring that the chocolate meets the requirements of the target market, for this he must constantly contact the purchasing department to include the best ingredients and offer the best packaging, as well. such as transport, so that they do not melt on the road to establishing sales.
Answer:
$275,000
Explanation:
The <em>lease liability</em> is recorded at the Present Value amount of the lease payments based on the incremental borrowing rate.
The <em>lease asset</em> is recorded at the same amount of lease liability including other costs of placing the assets in location and condition intended for use by management.
