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vovikov84 [41]
3 years ago
8

A schedule listing account balances for the current and previous years, and columns for adjusting and reclassifying entries prop

osed by the auditors to arrive at the final mount that will appear in the financial statement, is referred to as a: _______.
A) Working trial balance.
B) Lead schedule.
C) Summarizing schedule.
D) Supporting schedule.
Business
2 answers:
g100num [7]3 years ago
4 0

Answer:working trial balance

Explanation:

A trial balance is a statement prepared to test the mechanical accuracy of ledger transactions

GREYUIT [131]3 years ago
3 0

Answer:A) Working trial balance

Explanation: A working trial balance is a trial balance which has not been adjusted,it is still in the process of being adjusted. A working trial balance is added any adjustments before the accounting period is to be closed. A working trial balance contains a schedule which lists account balances for the current and previous years, and columns for adjusting and reclassification etc.

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At the end of the year, overhead applied was $42,000,000. Actual overhead was $40,300,000. Closing over/underapplied overhead in
scoundrel [369]

Answer:

Hence, closing over  overhead into Cost of Goods Sold would cause net income to increase by $ 1,700,000

Explanation:

Overheads are charged to units produced by the means of using an estimated overhead absorption rate. This rate is computed using budgeted overhead and budgeted activity level.

As a result of this, overhead charged to total units product might be over or under absorbed compared to the actual amount incurred.

Over applied overhead = Applied overhead - Actual overhead

                                     = 42,000,000 - 40,300,00 =  1,700,000

Over applied overhead = $ 1,700,000

The adjustment required is to reduce the cost of gods sold by the amount of over-applied overhead because the cost of goods sold figure is would have over charged.

Hence, closing over  overhead into Cost of Goods Sold would cause net income to increase by $ 1,700,000 because net income and cost of Goods Sold are inversely related.

4 0
2 years ago
An investor set up his own IRA several years ago and has now decided to get professional advice from an investment adviser. When
Nezavi [6.7K]

Answer:

Municipal bond fund

Explanation:

He should be most concerned about this fund because these investments are in the investors IRA, the investment aadviser should be immediately concerned about the municipal bond fund investment.

We have seen that this is a tax deferred account, so a tax free investment is not going to be suitable.

8 0
3 years ago
Variable Input Fixed Input Output Marginal Physical Product of Variable Input Total Fixed Cost Total Variable Cost Marginal Cost
weqwewe [10]

Answer:

$21.67

Explanation:

Exhibit 21-3 is attached with the answer .Please find it.

Total cost of production includes the fixed cost and variable cost. Fixed Cost remains constant as $500 in the exhibit, but the variable cost changes with each production level.

Cost of producing 60 units

Variable cost = $800

Fixed cost = $500

Total cost = $800+500 = $1,300

Product cost per unit = Total cost / numbers of unit = $1,300 / 60 = $21.67

7 0
2 years ago
Ivory is listening to a manager present statistics that they believe supports a new initiative. Which type of critical thinking
ioda

The type of Critical Thinking Questions that Ivory should ask at this point are:

  • What are the assumptions?
  • what are the issues and the conclusions?
  • Are there fallacies in the reasoning?
  • How authentic is the data presented?

<h3>What are Critical Thinking Questions?</h3>

Critical  Thinking Questions are questions that make inquiries into the veracity of a claim.

They help the evaluator to maintain a logical and rational line of thoughts so that they are able to connect clearly the relationship between facts and ideas.

Learn more about Critical Thinking Questions at:
brainly.com/question/6034421

3 0
2 years ago
Southern Rim Parts estimates its manufacturing overhead to be $495,000 and its direct labor costs to be $900,000 for year 1. The
Zarrin [17]

Answer:

Job 301    $   11,000

Job 302   $  16,500

Job 303   $ 22,000

Explanation:

\frac{Cost\: Of \:Manufacturing \:Overhead}{Cost \:Driver}= Overhead \:Rate

To calculate the overhead rate <u>we divide the estimated overhead cost by the estimated cost driver:</u>

\frac{495,000}{900,000}= Overhead \:Rate

0.55 overhead rate

Job 301 $20,000 labor cost x 0.55 overhead rate

11,000

Job 302 $30,000 labor cost x 0.55 overhead rate

16,500

Job 303 $40,000 labor cost x 0.55 overhead rate

22,000

8 0
3 years ago
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