In recording the cost of goods sold for cash, based on data available from perpetual inventory records, the journal entry is debit Cost of Goods Sold; credit Inventory.
<h3>What are inventory?</h3>
Inventory include taken records of goods that are sold and the once that are available.
For goods that are sold they are removed from the available goods including the cost and added to the inventory as sold.
Therefore, In recording the cost of goods sold for cash, based on data available from perpetual inventory records, the journal entry is debit Cost of Goods Sold; credit Inventory.
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Answer:
a. Calculate the predetermined overhead rate based on capacity.
- predetermined overhead rate = $26,190 / 279 hours = $93.87 per hour
b. Calculate the manufacturing overhead applied.
- applied manufacturing overhead = $93.87 per hour x 240 hours = $22,528.80 ≈ $22,529
c. Calculate the cost of unused capacity.
- cost of unused capacity = (279 hours - 240 hours) x $93.87 per hour = 39 x $93.87 per hour = $3,660.93 ≈ $3,661
or
- $26,190 - $22,529 = $3,661
Answer:
The answer is: A) affects the amount of cash interest the borrower pays each year
Explanation:
The market interest rate is the rate that investors demand to earn for lending their money. It affects the interest rate of every type of loan (including the stated interest rate of bonds, car loans, credit cards, etc.) because when it increases (because investors want to earn more money), the general level of interest rate for loans also increases.
Answer:
S type corporation is difficult to register as it has a particular eligibility restriction, which many businesses are unable to meet.
Explanation:
There are specific pre-requisites before a company may apply as an S corporation
- It implies that corporation shareholders must be U.S. residents only who directly own the shares.
- Maximum 100 shareholders can be part of S corporation.
- The stock options are restricted to one class only.
The limited stock options, no foreign investment challenges and limitation of maximum shareholders create a barrier to open S type corporation. So the answer is S type corporation is difficult to register as it has a particular eligibility restriction, which many businesses are unable to meet.
