Answer:
Orion Flour Mills Journal entry
Dr Equipment 62,400
Dr Prepaid Insurance 500
Cr Cash 2,900
Cr Accounts Payable 60,000
Explanation:
Calculation for cost of equipment
Purchase price 55,000
Add: Sales tax 5,000
Add: Shipment of machine 800
Add: Installation 1,600
Total Cost of Equipment 62,400
Calculation for Cash
Shipment of machine 800
Add Insurance on the machine for the first year 500
Add Installation 1,600
Total Cash 2,900
Calculation for Accounts Payable
Purchase price 55,000
Add: Sales tax 5,000
Total Account payable 60,000
The name of the sources of the funds are : General Revenue related funds which includes the general revenue funds, available school funds, state technology and instructional material fund.
<u>Explanation:</u>
Educational institutions are the institutions which provide education to the students which is very important for the development of the child. For getting educated, there is requirement of the funding to pay for the education.
In Texas, for funding the public higher education institutions, there are some sources of funding. Those sources are General revenue related funds which belong to the states. This also includes the General revenue fund, the available school fund, the state technology and instructional material fund. There is also Foundation School General Revenue dedicated account.
Based on the beginning work in process and the costs added in the period, the Equivalent Units of Production for direct materials is $342,000.
<h3>What is the EUP for direct materials?</h3>
This can be found by the formula:
= Beginning WIP for raw materials + Costs added this period
Solving gives:
= 49,000 + 293,000
= $342,000
Find out more on Equivalent Work in Process at brainly.com/question/16259709.
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Answer:
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