Answer
1. Answer for part one and two are added in attachment.
Explanation:
1. For part one , process summary cost is attached in files.
2. Answer for section two is :
Date Title of accounts Total Debit ($) Total Credit ($)
31-Oct Work In Process Inventory - Assembly 1,143,100.00
Work In Process Inventory - Cutting 1,143,100.00
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Answer:
5%
Explanation:
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
Real GDP is GDP calculated using base year prices. Real GDP has been adjusted for inflation.
Output growth can be calculated by finding the changes in real GDP over the years
Output growth = $52,500 / $50,000 - 1 = 0.05 = 5%
Answer:
(i) The trial balance of Monroe Entertainment Co. is as shown below.
Amounts in $
Accounts Debits Credits
Accounts Payable 486.00
Fees Earned 2,807.00
Accounts Receivable 854.00
Insurance Expense 405.00
Prepaid Insurance 1,698.00
Land 2,275.00
cash 1,878.00
Wages Expense 519.00
Drawing 751.00
Capital <u> </u> <u> 5,087.00</u>
Balances <u> </u><u>8,380.00 </u> <u>8,380.00 </u>
(ii) Total debits is c.$8,380
Explanation:
The trial balance shows the balances of all accounts in terms of debits and credit and is used to check the mathematical accuracy of posted entries. The debits are the assets and expenses while the credits are the equity, income and liabilities.
Total debits is $8,380
