: ____ refers to all of the pay and benefits provided to employees for the completion of work.

Consider the following transactions for Huskies Insurance Company:

PilotLPTM [1.2K]

Answer:

31-Dec

Dr Depreciation expense $7,000

Cr Accumulated Depreciation - Equipment $7,000

31-Dec

Dr Interest receivable $1,750

Cr Interest revenue $1,750

31-Dec

Dr Deferred Revenue $4,000

Cr Revenue or Service Revenue $4,000

Explanation:

Preparation of the necessary adjusting entry for Huskies Insurance at its year-end of December 31.

31-Dec

Dr Depreciation expense $7,000

Cr Accumulated Depreciation - Equipment $7,000

(Being to adjust 12 month depreciation)

31-Dec

Dr Interest receivable ($50,000 x 7% x 6/12) $1,750

Cr Interest revenue $1,750

(Being to adjust 6 month interest revenue accrued)

31-Dec

Dr Deferred Revenue ($16,000 x 3/12) $4,000

Cr Revenue or Service Revenue $4,000

(Being to record earned revenue for 3 months)

6 0

2 years ago

a process cost system, the cost of completed production in Department A is transferred to Department B by which of the following

oee [108]

Answer:

C. Debit Work in Process—Dept. B; credit Finished Goods—Dept. A

Explanation:

It is known that during continuous production, businesses find it difficult to isolate each individual unit and calculate a cost. Process costing systems accumulate the materials, labor and overhead costs for the period along with the total number of units produced. The total number of units produced includes both completed units and partially completed units. The company determines the percentage of completion for each partially completed unit and adds these amounts to the total number of completed units to determine the equivalent units.

4 0

3 years ago

Suppose that fertilizerfertilizer is necessary to produce wheatwheat. if the price of fertilizerfertilizer fallsfalls, the supp

asambeis [7]

Answer: Shift to the right

Explanation:

Fertilizers are an important input in wheat production. When the price of fertilizers fall, it leads to a decrease in cost of producing wheat. Thus, producers will supply more wheat in the market. As a result the supply curve for wheat will shift to the right leading to a fall in the price of wheat and an increase in the quantity of wheat sold in the market.

4 0

3 years ago

Which of the following can be classified as data flow for a book store?

marishachu [46]

<span>C.) The amount of money earned in a week being invested in new book purchase

Hope this helps!</span>

5 0

2 years ago

Lata is writing a message to her boss. She has discovered a source for office supplies that carries name brands but whose prices

Triss [41]

Answer:

The correct answer is Direct order.

Explanation:

Many times a day we receive and give orders. When we entrust a specific function to our employee or subordinate, how do we do it? By giving a direct order to execute it or we use what we call delegation. Through the delegation, we entrust this employee not only to do what has been communicated to him, but also to take responsibility from start to finish, reporting once the order has been executed to whoever has given it.

7 0

2 years ago