How do you know that is playing within a relationship that they act strange?

The accountant for Eric's Plumbing Equipment Company recently made a journal entry consisting of a debit to Work in Process and

lara31 [8.8K]

Answer:

The use of raw material in the production process

Explanation:

The journal entry for recording the raw material used for the production process is shown below:

Work in Process Inventory A/c Dr XXXXX

To Raw Materials Inventory A/c XXXXX

(Being the raw material used for the production process is recorded)

For recording this transaction, we debited the Work in Process inventory account and credited the Raw Materials Inventory account

5 0

3 years ago

Coworkers Yvonne and Rodney are trying to finish cleaning the store by washing dishes and sweeping the floors. To finish both ta

Lynna [10]

Answer: True- The comparative advantage in the dish washing

Explanation:

Yes, the given statement is true that both the coworkers that is Rodney and Yvonne determining the comparative advantages in the store by washing all the dishes.

The comparative advantages is one of the term that is used to refers to the economical ability that helps in providing the various types of products and also reflecting the overall production opportunity in terms of cost.

Accordion to the given scenario, we use the comparative advantages for determining the person for washing the dishes from both the co-workers.

Therefore, The given answer is correct.

3 0

4 years ago

20kg of beans at #150/kg are mixed with 15kg of beans at #180/kg , if the mixture is sold at #200/kg , calculate the percentage

pychu [463]

Answer: 18.6%

Explanation:

Cost of 20 kg of beans at #150 per kg is:

= 20 * 150

= #3,000

Cost of 15 kg of beans at #180 per kg is:

= 15 * 180

= #2,700

Total cost is:

= 3,000 + 2,700

= #5,700

Mixing both beans results in a weight of:

= 20 + 15

= 35 kg

This 35kg is sold at #200 per kg so the revenue is:

= 35 * 200

= #7,000

Percentage profit is:

= (Revenue - Cost) / Revenue * 100%

= (7,000 - 5,700) / 7,000 * 100%

= 18.6%

8 0

3 years ago

Wells Technical Institute (WTI), a school owned by Tristana Wells, provides training to individuals who pay tuition directly to

Vlada [557]

Answer:

See explanation Section

Explanation:

Adjusting Entries

Req. A, B

A. Since the partial amount of insurance policy has been expired-

Debit Insurance Expense $3,203

Credit Prepaid Insurance $3,203

An expense will be appeared and the current assets will be decreased.

B. Debit Teaching supplies Expense $7,528

Credit Teaching supplies $7,528

As the company has $2,776 supplies available from $10,304, teaching supplies expense will appear as $7,528 = (10,304 - 2,776)

Req. C, D, and E

C. Debit Depreciation expense-equipment $12,814

Credit Accumulated depreciation-equipment $12,814

D. Debit Depreciation expense-professional library $6,407

Credit Accumulated depreciation-professional library $6,407

E. Debit Unearned revenue $5,600

Credit Service revenue $5,600

Note: Monthly fee of $2,800 from November to December. Therefore, 2 months fee = $2,800*2 = $5,600 has been earned.

Req. F, G and H

F. Debit Accounts receivable $8,750

Credit Service revenue $8,750

Note: As WTI has not yet received any payment from October 15 to December 31, there will be 2 and a half months bill due. Each month = 3,500. Therefore, 2 months = $7,000, and a half-month = $(3,500 ÷ 2) = $1,750. Total receivable = $7,000 + $1,750 = $8,750.

G. Debit Salaries expense $400

Credit Salaries payable $400

Note: As there are two employees and two days salary have been accured, total salaries payable = $100 per day × 2 employees × 2 days = $400

H. Debit Rent Expense $2,062

Credit Prepaid rent $2,062

7 0

4 years ago

Category Prior Year Current Year Accounts payable ??? ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750 Additional

Aleks04 [339]

Answer:

22.98%

Explanation:

Here, the current entry means the ratio between the long term debt and the total assets

In mathematically,

= Long term debt ÷ total assets

where,

Total assets = Account receivable + cash + inventories + net fixed assets

= $397,400 + $47,500 + $288,000 + $999,000

= $1,731,900

And, the long term debt is $398,024

Now put these values to the above formula

So, the ratio would equal to

= $398,024 ÷ $1,731,900

= 22.98%

6 0

3 years ago