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frutty [35]
3 years ago
6

Physical capital differs from raw materials in the sense that raw materials A. have a longer useful life in production B. are co

nsidered human capital C. cannot be used to produce goods and services D. are used up in production E. are not a resource used in production
Business
1 answer:
Komok [63]3 years ago
4 0

Answer:

D. are used up in production

Explanation:

Raw materials can be seen as the "ingredients" required to produce a good and, thus, are consumable (used up in production). Physical capital refers to lasting goods that are assist the production process like buildings or machinery and are not consumable.

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Pam Erickson Construction Company changed from the completed-contract to the percentage-of-completion method of accounting for l
Brilliant_brown [7]

Answer:

a. $478,450

b.Dr Construction in Process $165,500

Cr  Deferred tax liability  $49,650

Cr   Retained earnings  $115,850

Explanation:

A. Calculation for the amount of net income that would be reported in 2015 for Pam Erickson Construction Company

Using this formula

Net income =(Income before income tax ) Income before income tax-Tax rate

Let plug in the formula

Net income= $683,500 - (683,500 × 30%)

Net income= $683,500 - $205,050

Net income= $478,450

B. Preparation of the Journal entry(ies) that are necessary to adjust the accounting records

For Pam Erickson Construction Company

Dr Construction in Process $165,500

Cr  Deferred tax liability  $49,650

($165,500 × 30%)

Cr   Retained earnings  $115,850

($165,500 × (100%-30%)

5 0
3 years ago
Kite Sales. Wendy is president of a business that manufactures kites. The kites of her company, ABC Kites, are sold to large toy
LuckyWell [14K]

Answer:

She violated the duty of loyalty

Explanation:

One of the fiduciary duties of a director is to always act in the best interest of the company .

Similar to this is the duty of loyalty that prevents the director from acting against the interest of the company and also guide the director against activities that could bring conflict of interest whereby he is involved in reaping personal benefits from the position she occupies .

This describes Wendy's action of personal dealing based on her position as the president of Kite sale

5 0
3 years ago
Which statement below best describes the accounting equation? Multiple Choice The change in retained earnings equals net income
8_murik_8 [283]

Answer:

The correct answer is Resources of the company equal creditors' and owners' claims to those resources.

Explanation:

It can be used to determine that the income or income of the consumer is exactly equal to the expense (purchase) of goods, for the determined period of consumption. In other words, by adding the value spent on the acquisition of goods "x" and goods "y". To have such values it is enough to multiply the number of possible units to acquire - in each of the points - by their respective price and then add them; This can be done at any point in the price line.

4 0
3 years ago
A change in the quantity demanded of a good is: a. represented by a shift to a new demand curve. b. represented by a movement al
Radda [10]

Answer:

It's represented by a movement along the demand curve

3 0
3 years ago
Messana Corporation reported the following data for the month of August: Inventories: Beginning Ending Raw materials $36,000 $24
Wittaler [7]

Answer:

$217,000

Explanation:

                           Begining   Purchases   Ending  

Raw Materials  $ 36,000 $ 69,000 $ 24.000

Work in Process  $ 23,000 $ 17,000         $ 6.000

Finished Goods  $ 37,000  $ 55,000 -$ 18.000

Direct Lab Costs  $ 94,000 $ 94,000

Manuf Overhead $ 54,000 $ 54,000

 Total  

Raw Materials  $ 81.000

Work in Process  $ 6.000

Finished Goods  -$ 18.000

Direct Labor Costs  $ 94.000

Manufacturing Overhead  $ 54.000

Costo of Goods Manufactured  $ 217.000

5 0
3 years ago
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