All of the above. If your going to make a product manufacturing then you have to make sure you have all of your resources.
Answer:
The statement is: True.
Explanation:
The disposal of assets implies removing assets from a company's accounting books. By doing so, the company must record the gain or loss over the asset when the disposal happens. That is determined by comparing the book value of the disposed asset with the market value of the acquired assets -if any.
Answer:
The correct option is (b)
Explanation:
Accrual refers to income or expense that is accrued (service is delivered) but cash is not received in the current period. In accrual accounting, revenue is recorded at the time it is accrued irrespective of the time period it is received.
In this case, recording revenue that will be received in future is an example of accrual.
Answer:
The journal entries are as follows:
(i) On March 31,
Finished Goods A/c Dr. $56,400
To Work in Process $56,400
(To record the completion of the two jobs)
(ii) On March 31,
Cash A/c Dr. $38,000
To sales $38,000
(To record the sale Job 10)
(iii) On March 31,
Cost of goods sold A/c Dr. $21,400
To finished goods $21,400
(To record the cost of the job sold)
Answer:
Brainliest pls
Explanation:
When a tax is imposed on a good for which the supply is relatively elastic and the demand is relatively inelastic, Buyers of the good will bear most of the burden of the tax. More, and sellers receive less than they did before the tax.