Answer:
Debit Petty cash $200 and credit cash $200
Explanation:
Accountants evaluate business activities and put them in record using journal entries such as debit-credit rules as a guide. Normally, an accountant will use specific journals for numerous journal entries of the same type – like sales journals, cash journals and purchases journals. Businesses which are large usually use specialized journals, while businesses which are smaller tend to only use a general journal that has all transactions. Recording journal entries is only the first step in the accounting.
Answer:
e. Debit Retained earning $49,280 Credit Common stock dividend distributable $35,200
Credit Paid in capital in excess of par value(Common stock) $14,080
Explanation:
The journal entry is as follows:
Retained earnings (3,520 shares × $14)
Dr $49,280
_______ Common stock dividend distributable (3,520 shares × $10)
Cr $35,200
_______ Paid in capital in excess of par value ($49,280 - $35,200)
Cr $14,080
Answer:
$3,270
Explanation:
Total machine-hours 80,000
Total fixed manufacturing overhead cost $ 624,000
Overhead absorption rate = 624,000/80,000 = $7.8
Variable manufacturing overhead per machine-hour $ 3.10
Total machine-hours 300
Fixed overheads = $7.8
Total Fixed overheads = 300 X 7.8 = $2,340
Total variable overheads = 300 X 3.1 = $930
Total overheads = $2,340 + $930 = $3,270
The plan to evacuate the Outer Banks of North Carolina was a(n) action plan.
Explanation:
An action plan is a document that lists what steps need to be taken to achieve a specific objective. An action plan is a series of actions that need to be taken or tasks that need to be performed well, for a successful strategy.
An action plan seeks to explain what resources are needed to accomplish the goal, to formulate a timetable for when certain activities need to be accomplished and to decide what resources are needed.
Answer:
Higher unemployment, lower wage share of output, and higher Gini coefficient in the long run.
Explanation:
Since less labor will be used, total unemployment will increase. Besides less labor being used, more capital will be used, so the share of labor in total output will decrease. Labor efficiency increases, since you need less labor to produce the same or even a larger amount of output.
New technologies tend to increase the wages of high skilled labor and management. Since the Gini coefficient measures income inequality, then higher wages for a few will increase inequality.
This is an example of what is happening in the US, where highly trained labor is getting paid better every time while unskilled labor is getting paid the same as many years ago or their wage has even decreased with time. This shows how important a college education is, and the difference will only keep increasing.