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3 years ago

Number the following activities from 1 to 3 in the order corresponding to the typical flow of cost in a CPA firm.

Business

1 answer:

LUCKY_DIMON [66]3 years ago

6 0

Answer:

1. Record the time worked on a client project by professional staff.

The first thing is do is to record the time the client was worked on by a professional staff because CPAs should be charging by the hour.

2. Record the completion of a client project.

The record the completion of a client project so that the project can be considered finished. The total hours worked will be totalized here.

3. Record the application of office overhead.

After the completion of the project the overhead costs are now apportioned and recorded.

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Tatiana [17]

Explanation:

The journal entries are shown below:

a. Inventory Dr $23,500

To Account payable $23,500

(Being inventory purchased on credit)

b. Account payable Dr $4,200

To Purchase return $4,200

(Being the return of the inventory is recorded)

c. Account payable Dr $19,300

To Cash $19,300

(Being the payment of the invoice is recorded)

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3 years ago

Which of the following roles is responsible for writing programming code?

jok3333 [9.3K]

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3 years ago

Burger Buddies restaurant chain is attempting to bring back their fried fish sandwich. It is an

worty [1.4K]

The marketing firm need to focus their efforts on

product modification.

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Learn more on marketing here,

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2 years ago

Read 2 more answers

Because General Electric is a ____ corporation, Todd Barrow can purchase stock with the help of an account executive through the

dexar [7]

The correct answer is : Public

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3 years ago

The U.S. Department of Agriculture guarantees dairy producers that they will receive at least $1.00 per pound of butter they sup

Tamiku [17]

Answer:

a) he equilibrum quantity is 95 million pounds of butter and the equilbrum price is $1.20 per pound. At this level, both demand and supply is 95 million.

b) 0 or no surplus.

Explanation:

The question is in three parts

a) a. In the butter market, the monthly equilibrium quantity is million pounds and the equilibrium price is $ per pound

The equilibrum price and quantity refers to that point in sales where the quantity demanded = the quantity supplied.

Looking at the schedule, the equilibrum quantity is 95 million pounds of butter and the equilbrum price is $1.20 per pound. At this level, both demand and supply is 95 million.

b) What is the monthly surplus created in the wholesale butter market due to the price support (price floor) program?

First, what is the price floor fixed by the government = $1.00 per pound and at this rate, the demanded quantity is 101 million and the quantity supplied is 79 million pounds.

Hence, the monthly surplus = 79 million pounds - 101 million pounds = -22 million pounds

At this price, there is no surplus

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3 years ago