The correct answer is A The bank could sell the car.
The bank could take back the car and sell it to recover its money.
Answer:
d. Work in Process Inventory and Factory Overhead.
Explanation:
Direct labor is labor that is directly involved in the production process, for example a machine operator in a factory is supplying direct labor. So when recording direct labor we do so under work in process inventory as that is where the labour is applied.
Indirect labour is one that is not directly involved in the production process, for example office cleaners, building maintenance. Since their contribution is not directly impacting production, indirect labor is recorded under factory overhead.
Answer:
Credit of $80,000
Explanation:
Big-Mouth Frog Corporation Calculation for Retained earnings
Using this formula
Retained earnings =Revenue- Expenses
Where,
Revenue =$200,000
Expenses =$180,000
Let plug in the formula
Retained earnings =$200,000-$180,000
Retained earnings =$80,000
Therefore when the Income Summary is closed to Retained Earnings, the amount of the credit to Retained Earnings will be $80,000
Answer and Explanation:
The computation is shown below:
The Price level in the normal case
= Money supply ÷ Real GDP × Velocity
= $6,000 ÷ 10,000 units × $5
= $3
Now in the case when the money supply doubled i.e $12,000
So, the price level is
= Money supply ÷ Real GDP × Velocity
= $12,000 ÷ 10,000 units × $5
= $6
When the money supply doubles, the price level is also doubled that indicated the direct relationship between the price level and money supply
