Hey there,
A benefit of using a debit or credit card instead of cash is that it provides a paper record of a purchase. A proof of purchase is often needed in all of the following situations except: Equipment rental
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~Jurgen
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Answer: c. 530,000 grams
Explanation:
Finished goods that should be produced in the year;
= Units to be sold + ending inventory - beginning inventory
= 170,000 + 32,000 - 22,000
= 180,000 units of finished goods.
Each unit of finished good requires 3 grams of raw material;
= 180,000 * 3
= 540,000 grams
Raw materials to be purchased;
= Raw materials needed + ending inventory - beginning inventory
= 540,000 + 42,000 - 52,000
= 530,000 grams
Answer: 4,375 units
Explanation:
The budgeted production for July will be;
= July sales + Ending inventory - Beginning inventory
Ending inventory = 25% * August sales =25% * 4,900 = 1,225
Budgeted production = 4,200 + 1,225 - 1050 = 4,375 units
Answer:
Revenues are Credited, Expenses are Debited and the difference of Revenue and Expenses is credited in the Retained Earnings.
Explanation:
The revenue and retained earnings account are credit in nature and expenses are debit in nature.
This can be Explained from the following equation:
Closing Equity = Opening Equity + (Revenue - Expenses)
Closing Equity - Opening Equity = (Revenue - Expenses)
Earnings Retained by the Company = (Revenue - Expenses)
So the difference of the revenues and expenses goes to retained earnings. If the answer of the difference is positive then the retained earnings are credited otherwise it is credited. So as I said that revenues are credit in nature so if their is profit (credit is in access of debit or in other words revenues are in excess of expenses) then the retained earnings will be credited and if their is a loss then the retained earnings account will be debited.
A change in demand will cause a shift to the right for increase and left for decrease.
