Answer:
Journal Entry
Explanation:
The Journal Entry is shown below:-
Cash Dr, $150,000
To Unearned sales revenue $150,000
(Being receipt of cash in advance is recorded)
Therefore to record the inflow funds we debited cash and to record the liability/obligation to deliver such goods we credited unearned sales revenue.
.
Businesses and corporations relocate to developing nations so they
don't have to pay the wages that developed nations pay their workers.
Many of these nations do not have the same regulations in regards to
workers' rights, benefits, safety, and environmental impact. Because
companies aren't subject to these regulations, they are able to save
millions of dollars. As a result, businesses shut down operations in the
U.S. and other developed nations and move those jobs abroad.
Answer:
The manufactured overhead was under-estimated.
Explanation:
Giving the following information:
The actual manufacturing overhead costs incurred were $515,000.
Estimated Manufacturing overhead was $500,000.
Overhead allocation is the distribution of indirect costs to produced goods. When the administration has undervalued and under-funded the amount of money needed for non-production costs, they have under-allocated overhead.
<u>Over applied manufacturing overhead:</u>
<u></u>
Applied overhead>Actual overhead
<u>Under applied manufacturing overhead:</u>
Applied overhead<Actual overhead
In this exercise:
Actual manufacturing overhead - Estimated Manufacturing overhead= 515000- 500000= 15000
The manufactured overhead was under-estimated.
Answer:
B. discharged
Explanation:
Based on the information provided within the question it can be said that Bottling's contractual obligation to Chug is breached. This term refers to when a party in a contract does not meet the obligations that they agreed upon for whatever reason. Which, since Bottling decided to not perform their part of the contract due to prices becoming to high then they are breaching the contract, regardless whether or not it is due to external factors.
Answer:
Retained earnings on the December 31, 2019: $253,000
Explanation:
Ending balance in retained earnings is calculated by using following formula:
Ending balance in retained earnings = Beginning balance in retained earnings + Net income - Cash dividends - Stock dividends
Grizzly Company had Retained Earnings at December 31, 2018 of $210,000. Beginning balance in retained earnings at January 01, 2019 is $210,000
Net income = Revenues - Expenses = $410,000 - $355,000 = $55,000
Ending balance in retained earnings = $210,000 + $55,000 - $12,000 = $253,000
