Answer:
b.$12,990
Explanation:
Calculation to determine the amount debited to Work in Process for factory overhead in August, assuming a factory overhead rate of 30% of direct labor costs
Using this formula
Overhead applied = Direct labor cost * Predetermined overhead rate
Let plug in the formula
Overhead applied= 43,300 * 30%
Overhead applied= $12,990
Therefore the amount debited to Work in Process for factory overhead in August, assuming a factory overhead rate of 30% of direct labor costs is $12,990
Explanation:
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Answer:
The Journal entry with their narrations is shown below:-
Explanation:
The Journal entry is shown below:-
Cash Dr, $1,200
Notes Receivable Dr, $2,800
To Accounts Receivable -R. Roy $4,000
(Being office supply of Vikram is recorded)
Therefore for recording the office supply we simply debited cash and notes receivable and credited the accounts receivable
Answer:
b
Explanation:
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Answer:
The option which is not a task of the bankruptcy trustee is;
Represent the debtor when meeting with creditors
Explanation:
In a case of bankruptcy a bankruptcy trustee is assigned by the court and to whom the case information is handed to perform the following tasks
1) Converts the collected company assets to money
2) Assess the creditors (owed by the debtor) proof of claims
3) Allocate monetary refunds to the creditors
4) Upholds or refuse claimants to specific debts
5) Completes tax and other financial reports that are submitted to government agencies
