Answer and Explanation:
The computation is shown below
1. The adjusted balance in the retained earning is shown below:
= beginning balance of retained earning + adjusted net income
where,
beginning balance of retained earning is $860,000
And, the adjusted net income is
= $68,000 × (1 - 0.35)
= $44,200
So, the adjusted balance in the retained earning is
= $860,000 + $44,200
= $904,200
2. Now the journal entry is
Inventory $68,000
To Retained earning $44,200
To Tax payable $23,800 ($68,000 × 35%)
(Being the adjustment of ending inventory is recorded)
It increased the inventory and along with it it also increased the equity and liabilities so the respective account is debited and credited
Answer:
Exploitative Devices: Management did not share benefits of increased productivity and so economic welfare of workers was not increased. 2. Depersonalized work: Workers were made to repeat the same operations daily which led to monotony
Answer:
See below
Explanation:
Raw materials purchased is computed as;
Raw material purchase = Ending inventory + required for production - beginning inventory
= 50,000 + ((80,000 + 770,000 - 30,000) × 3) - 60,000
= 50,000 + 2,460,000 - 60,000
= 2,450,000 grams
Answer:
If American produces the new compound, profit will increase by $88,000
Explanation:
increase in selling price = selling price of new variant of chemical - selling price of chemical compound
= $83 - $52
= $31
Net increase in profit = total increase in selling price - additional processing cost
= $31*8000 - $160000
= $248000 - $160000
= $88,000
Therefore, If American produces the new compound, profit will increase by $88,000.
net increase in profit =
Answer:
A) the demand for peanuts is inelastic
Explanation:
Since in the question it is given that the price of peanuts is fall fro $3 to $2 per bushel which shows the decreased in price while at the same time the revenue received is also decreased from $16 to $14 that results in demand for peanuts is inelastic
As we know that
Inelastic = When elasticity is less than one
So in the given case since the price and revenue received is decrease therefore the demand is inelastic
