Answer:
She should report $2400.00
Explanation:
She has a contract for 64 hours and she gets $3200.00 Just by aritmethics, this is doing a division we can find that she gets $50.00 for every hour, therefore if she gives 48 hours in 2019 we multiply $50.00 for 48 hours and we get $2,400.00
Any inventory not yet received
Reduced by an amount that is equal to an individual's income from other sources
Answer:
1,350 units; 918 units
Explanation:
Ending inventory:
= Beginning inventory + Units started - Units completed and transferred
= 750 + 9,500 - 8,900
= 1,350
Equivalent units of ending work in process for Materials:
= 100% complete × Ending inventory
= 100% × 1,350
= 1,350 units
Equivalent units of ending work in process for Conversion:
= 68% complete × Ending inventory
= 68% × 1,350
= 918 units
Answer:
b) cash 1000
account receivable 1000
Explanation:
Since in the question it is given that the company received payment from one of his customers on August 5 for the service performed on July 21
So under the accrual basis accounting, the journal entry is as follows
Cash Dr $1,000
To Account receivable $1,000
(Being the payment received is recorded)
While debiting the cash and credited the account receivable