Answer:
False.
Explanation:
To close the underapplied Manufacturing Overhead account requires that the Cost of Goods Sold is debited, say with $100 while the Manufacturing Overhead account is credited with the same amount. Underapplied Manufacturing Overhead account means that a debit balance is left after applying the overhead to production. To close this debit, therefore, a credit entry is required to the manufacturing overhead account. The corresponding debit entry goes to the Cost of Goods Sold, or this may be apportioned among Cost of Goods Sold, Finished Goods Inventory, and Work-in-Process, as may be the case.
Answer:
$37,100
Explanation:
Calculation for what Vaughn should report as cash and cash equivalents
Cash in bank $36,200
Petty cash 300
Short-term paper with maturity of 2 months 600
Cash and cash equivalents $37,100
Therefore Vaughn should report cash and cash equivalents of:$37,100
<h3>
<u>Answer -</u></h3>
If one has been running a successful art and framing shop for three years and has decided to allow others to use his/her business name materials and methods in operating their own business for a fee. It may be called as a franchise agreement.
<h3>
<u>Explanation -</u></h3>
A franchise agreement allows the business owner to use the licensor's brand and method of doing business. The franchisor is the original or existing business owner who allows the other one to use his/her business name materials and methods in operating their own business.
A certain amount of fees is to be paid by the franchisee that may be called in the layman’s language as the licensee, who is supposed to pay the fee to the licensor (franchisor) are exchanged for the rights to use the franchisor's name is for a specific number of years.
Answer and Explanation:
E.lowest equivalent annual cost
Answer:
The solution is shown in the table of the file attached herewith
Explanation:
