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Sergio039 [100]
4 years ago
15

Which of the following statements about adjusting entries is NOT true?

Business
1 answer:
vfiekz [6]4 years ago
8 0

Answer:

4. Adjusting entries are typically recorded on the last day of the accounting period.

Explanation:

They aer recorded on the last day of the accounting period as we do adjustment for accrual accounting like:

expired prepaid rent, expired prepaid insurance, accrued wages payable, accrued revenues, accrued interest revenues or interest expense, depreication on assets, amortization and other.

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Customer loyalty to a business is
kari74 [83]
Good for the company cause the more loyal a customer is the more they will want to spread your sells advertisemants and recommend you to other company.
4 0
3 years ago
Read 2 more answers
Discuss 5 Ghanaian companies and their business portfolios
Akimi4 [234]

There are many companies in Ghana and some of those companies and what they do include:

Accra Brewery Limited

  • Founded in 1931 as Overseas Breweries Limited
  • Offers brewery products such as CLUB Premium Lager
  • Saw huge expansion after the second World War
  • Currently under Anheuser-Busch InBev (ABInBev)

<u>Agricultural Development Bank </u><u>of </u><u>Ghana</u>

  • Founded in 1965 and is owned entirely by the government
  • Offers loans and agricultural credit to boost agriculture
  • Also offers corporate, international, and commercial banking

Clydestone Ghana

  • Founded in June 1989 and is located in Nigeria, Kenya, UK, and Ghana
  • Offer products in the information and communication industry including transaction processing
  • Listed on Ghana Stock Exchange

Produce Buying Company

  • Founded in 1981
  • Are major players in the cocoa industry in West Africa
  • Are also players in other cash crops such as sheanuts

Suretrack Contracts Services

  • Founded in 2007
  • Offers construction services such as engineering and construction management.
  • Is a privately owned company.

<em>Find out more at brainly.com/question/25130784. </em>

5 0
3 years ago
Cost Flow Relationships The following information is available for the first year of operations of Creston Inc., a manufacturer
babunello [35]

Answer:

The answer is

A. $955,700

B. $570,900

C. $734,400

Explanation:

A. Cost of sales

Gross profit = Sales - Cost of sales.

Therefore, Cost of sales will now be:

Sales - Gross profit

$1,309,200 - $353,500

=$955,700

B. Direct materials cost

Direct materials cost = material purchased - indirect materials - ending material Inventory

$667,700 - $48,400 - $48,400

=$570,900

C.Direct labor cost

Direct labor cost = manufacturing costs for the period - Direct materials cost - Other factory overhead - Indirect labor

$1,445,400 - $570,900 - $22,300 - $117,800

=$734,400

7 0
4 years ago
If overhead is applied using traditional costing based on direct labor hours, the overhead application rate is:
serious [3.7K]

Answer:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Explanation:

If overhead is applied using traditional costing based on direct labor hours, the overhead application rate is:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

<u>For example:</u>

Total estimated overhead= $150,000

Allocation base= direct labor hours

Estimated Total number of direct labor hours= 10,000

Predetermined manufacturing overhead rate= 150,000/10,000

Predetermined manufacturing overhead rate= $15 per direct labor hour

5 0
4 years ago
A machine operates with the following production cycle:
raketka [301]

Answer:

The capacity of the machine in parts per minute is 3 parts per minute

Explanation:

The Total time = 29 + 90

The Total time = 119 minutes

Total production = 4*90

Total production = 360 units

The capacity = 360/119

The capacity = 3.02521

The capacity = 3 parts per minute

Thus, the capacity of the machine in parts per minute is 3 parts per minute

6 0
3 years ago
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