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Norma-Jean [14]
2 years ago
6

Assume that Jones Company has an unadjusted balance in Merchandise Inventory of $100,000. Due to shrinkage, a physical inventory

shows that Merchandise Inventory is actually $99,000. The journal entry to record the needed adjustment would be:
Business
1 answer:
Liono4ka [1.6K]2 years ago
6 0

The journal entry that is needed to record the needed adjustment is;

Cost of Goods sold: 1,000 debit

Merchandise Inventory: 1,000 credit

When making the journal entry the company needs to adjust for the lower amount of merchandise that they have. Then the cost of the goods that were sold needs to be debited. Lastly, the merchandise inventory is credited.

It is imperative that all companies keep an updated journal. This helps to keep the balances correct. If the company has an audit and the adjustments aren't made correctly they could be fined.

Learn more merchandise inventory at brainly.com/question/13414269

#LearnwithBrainly

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The emirates group has a workforce comprised of individuals with 160 different nationalities. Suppose that one individual is con
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The individual is being Ethnocentric.

Ethnocentrism, whether conscious or unconscious, is a term that applies to cultural or ethnic bias, where individuals see the world from the perspective of their own group and establish their own group as a prototype. And evaluate all other groups in relation to that ideal.

People with ethnocentrism judge other cultures by comparing them with their immediate culture. Ethnocentrism Americans may overlook the unique charm of any city in the world compared to New York City. If you use the standards of your own culture to judge another culture, you are ethnocentric.

"Ethnocentrism" is a commonly used word in circles where ethnicity, interethnic relationships, and similar intergroup issues are important. The usual definition of this term is "think your group is better than the other" or "decide that the other group is inferior to your group".

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8 0
2 years ago
Crystal Charm Company makes handcrafted silver charms that attach to jewelry such as a necklace or bracelet. Each charm is adorn
Arturiano [62]

Answer and Explanation:

The computation is shown below:

1.

Direct Material Price Variance = Actual material cost - Actual Quantity × Standard Price

For Silver

= $13848 - 577 × 23

= $577 (U)

For Crystal

= $2926 - 7700 × 0.40

= $154 (F)

Direct Material Quantity Variance = (Actual Quantity - Standard Quantity) × Standard Price

For Silver

= (577 - 1530 × 0.40) × 23

= $805 (F)

For Crystal

= (7700 - 1530 × 5) × 0.40

= $20 (U)

2.

Direct Labor Rate Variance = Actual Cost - Actual Hours × Standard Rate

= $36915 - 3210 × 12

= $1605 (F)

And,

Direct Labor efficiency Variance = (Actual hours - Standard hours) × Standard Rate

= (3210 - 1530 × 2) × 12

= $1800 (U)

6 0
2 years ago
_____ leadership seeks information, opinions, and preferences, sometimes to the point of meeting with the group, leading discuss
never [62]
The democratic style of leadership seeks information, opinions, and preferences, sometimes to the point of meeting with the group, leading discussions, and using consensus <span>or majority vote to make the final choice.</span>
4 0
2 years ago
maximum amount willing to payGenesis Scents has two divisions: the Cologne Division and the Bottle Division. The Bottle Division
Bezzdna [24]

Answer: $2.60

Explanation:

Based on the information given in the question, the maximum amount that the Cologne Division would be willing to pay for each bottle transferred would be the amount that the company can purchase the containers in the external market which is given in the question as $2.60.

That's the highest amount that they can but the containers for. Therefore, the answer is $2.60

8 0
2 years ago
Read the Leading Innovation and Change: Best Practices Case Study and answer the following in the Lesson Forum: What elements of
4vir4ik [10]

The correct answer to this open question is the following.

Although there is no further information about the case of study, we can say that the question possible refers to the case where the name of the company is just "The Client." The name of the document is "Leading Innovation Change - The Kotter Way."  

This case refers to the challenges faced by an organization when it is time to innovate. Many members want to innovate but the culture of the company or the lack of proper leadership from managers often hinders the innovation efforts of the company.

So some of the elements of Kotter's Eight Stages of Leading Change that were included in the case were the following.

Create Urgency. The creation of new products of the company was limited and was not enough to compete in the future. A sense of urgency was needed to implement innovation.

Form a Powerful coalition. The company had to be very selective about the kinds of products that could help it to successfully compete in the future. The company had to use the best it had to establish priorities.

Create a vision for change. It was critical for the company to establish a new vision to get the results it needed. A renovation of the processes to face new necessities was imperative. Change has to be part of every member's mind.

Communicate the vision. This new vision had to be shared through the entire company. The members had to understand the importance of the innovative practices and each and every one of them had to be part of this new mentality.  

6 0
2 years ago
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