When raw materials are purchased on account for use in a process costing system, the corresponding journal entry that should be recorded will include <u>A debit to the Work in Process Inventory</u>.
An easy journal entry is accounting access in which simply one account is debited and one is credited. using easy magazine entries is encouraged as a pleasant exercise since it's far easier to apprehend these entries.
In a nutshell: debits (dr) record all the money flowing into an account, whilst credits (cr) report all the cash flowing out of an account.
A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that indicates an organization's debit and credit balances. The journal entry can consist of several recordings, every of that is either a debit or a credit score.
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According to the circular flow model of the economy, a person's job in a shoe factory is within a [Resource] market. Resource market is a market in which the business can buy a resources which is a person that works for them to be able to produce goods and services
Answer
The correct answer is C. 362
Explanation
The formular for calculating the number of shares will follow the below step
Number of Xyz share for Nick=Total dividend paid per year/the dividend on a single share
Total divident paid=$1567.46
Divived on a single share=$4.33
Total number of shares=$1567.46/$4.33=362 shares
The impact of financial accounting information on investors' and creditors' decisions is closely related to the concept of materiality. In auditing and accounting, the term "materiality" refers to the importance or "significance" of a sum, a transaction, or a discrepancy.
According to the general accepted accounting principles (GAAP) criterion known as "materiality," all items that are conceivably likely to have an influence on investors' decision-making must be documented or disclosed in full in a company's financial statements. The significance of information in financial accounts of a corporation is referred to as materiality. A transaction or business decision is "material" to the business if it necessitates reporting to investors or other users of the financial statements and cannot be excluded.
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