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3 years ago

Raw Materials Inventory, beginning to balance $36,000

Business

1 answer:

lesya692 [45]3 years ago

3 0

Answer:

1. Journal Entry Debit Credit

Raw materials inventory $73,400

($72,000 + $1,400)

Accounts payable $73,400

(Being raw materials purchase on credit)

2. Journal Entry Debit Credit

Work in process $64,300

($64,000 + $300)

Raw materials inventory $64,300

Raw Material Inventory Account

Beginning balance $36,000 | Work in process $64,300

Purchase $73,400 |

| Ending balance $45,100

| ($36,000 + $73,400 - $64,300)

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Crane purchases equipment by signing a note payable with the equipment dealer for $10,000. The accounts affected for Crane are _

maxonik [38]

Answer:

Equipment and notes payable

Explanation:

Since the equipment is purchased by signing the note payable which affected the two accounts i.e equipment and the note payable. In this, the cash transaction is not involved, so cash should not be considered

The journal entry would be

Equipment A/c Dr $10,000

To Notes payable $10,000

(Being the equipment is purchased by signing a note payable)

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3 years ago

Why would the federal reserve enact an easy money policy

kirza4 [7]

Answer:

Easy money is a representation of how the Fed can stimulate the economy using monetary policy. The Fed looks to create easy money when it wants to lower unemployment and boost economic growth, but a major side effect of doing so is inflation.

Explanation:

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2 years ago

Suppose that a company needs new equipment, and that the machinery in question earns the company revenue at a continuous rate of

julia-pushkina [17]

Answer:

a-The present value of revenue in the first year is $61,085.92.

b-The total time it would take to pay for its price is 2.44 years of 29.33 months.

Explanation:

Let the function of the revenue earned is given as

$S(t)=\left \{ {{66000t+38000} {\ \ 0The present value is given as [tex]PV=\int\limits^a_b {S(t)e^{-rt}} \, dt$

Here

a and b are the limits of integral which are 0 and 1 respectively
r is the rate of interest which is 5% or 0.05

S(t) is the function of value which is $S(t)=\left \{ {{66000t+38000} {\ \ 0So the equation becomes[tex]PV=\int\limits^0_1 {S(t)e^{-0.05t}} \, dt\\PV=\int\limits^{0.5}_0 {(66000t+38000)e^{-0.05t}} \, dt+\int\limits^{1}_{0.5}{(71000)e^{-0.05t}} \, dt\\PV=\int\limits^{0.5}_0 {(66000t)e^{-0.05t}} \, dt+\int\limits^{0.5}_0 {(38000)e^{-0.05t}} \, dt+\int\limits^{1}_{0.5}{(71000)e^{-0.05t}} \, dt\\PV=8113.7805+18764.4669+34207.6751\\PV=61085.9225$
So the present value of revenue in the first year is $61,085.92.
b-
The time in which the machine pays for itself is given as
$PV=\int\limits^0_1 {S(t)e^{-0.05t}} \, dt+\int\limits^t_1 {S(t)e^{-0.05t}} \, dt\\PV=61085.9225+\int\limits^{t}_{1}{(71000)e^{-0.05t}} \, dt$
The present value is set equal to the value of machine which is given as
$160,000 so the equation becomes:
$PV=61085.9225+\int\limits^{t}_{0}{(71000)e^{-0.05t}} \, dt\\160000=61085.9225+\int\limits^{t}_{0}{(71000)e^{-0.05t}} \, dt\\\int\limits^{t}_{0}{(71000)e^{-0.05t}} \, dt=160000-61085.9225\\\int\limits^{t}_{1}{(71000)e^{-0.05t}} \, dt=98914.07\\\\t=-\dfrac{\ln \left(0.93034\right)}{0.05}\\t=1.44496$
So the total time it would take to pay for its price is 2.44 years of 29.33 months.

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3 years ago

What is ethical behavior?

iren [92.7K]

Answer:

Ethical behavior includes honesty, integrity, fairness and a variety of other positive traits. Those who have others' interests in mind when they make decisions are displaying ethical behavior. In the workplace, there might be a standard for ethics set throughout the company.

Explanation:

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3 years ago

Colombo Enterprises has a defined benefit pension plan. At the end of the reporting year, the following data were available: beg

nordsb [41]

Answer:

The correct answer is $12,400.

Explanation:

According to the scenario, the computation of the given data are as follows:

We can calculate the pension expense by using following formula:

Pension expense = Interest cost + Service cost - Expected return on plan assets.

Where, Interest cost = $6,400

service cost = $17,000

Expected return on plan assets = $11,000

So, by putting the value, we get

Pension expense = $6,400 + $17,000 - $11,000 = $12,400

Hence, Journal entry for the following are as follows:

Pension Expense A/c Dr. $12,400

To Cash $12,400

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3 years ago