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3 years ago

50 POINTS

1 answer:

4 0

Nothing will change. Upper management must enthusiastically pursue the plan and create a culture for employees to follow

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Zen Arcade paid the weekly payroll on January 2 by debiting Salaries and Wages Expense for $47,000. The accountant preparing the

hram777 [196]

Answer:

Salaries and wages payable...................Dr $20,000

Salaries and wages expense $20,000

Explanation:

As per accrual system, an expense is incurred when it is accrued irrespective of when it is paid. So, $20,000 was accrued in December 31, salary and wages expenses would have been debited then amounting to $20,000.

In order to rectify the mistake of double counting, the entry passed by the accountant would be reversed to nullify the effect.

Adjusting Journal entry:

Particulars Debit Credit

Salaries and wages payable $20,000

Salaries and wages expense $20,000

(Being double counting of salaries and

wages expense rectified)

4 0

3 years ago

Prepare a direct materials purchasing plan for January, February, and March, based on the following facts. Lana Gonzales owns a

larisa [96]

Answer:

January cost $702,200

February cost $812,200

March cost $950,400

Total Purchase cost

Particulars January February March

Purchase cost of blades $ 207,200.00 $ 227,200.00 $ 230,400.00

Purchase cost of motor $ 495,000.00 $ 585,000.00 $ 720,000.00

$ 702,200.00 $ 812,200.00 $ 950,400.00

Explanation:

R.M budget - blades

Particulars January February March April

Planned production 11000 13000 16000 12000

Blades req. per unit 4 4 4 4

Material req. for prod. 44000 52000 64000 48000

Add: Desired ending inventory 20800 25600 19200 0

Less: Beginning inventory 13000 20800 25600

Net units of blades req. 51800 56800 57600

Cost per blade $ 4.00 $ 4.00 $ 4.00

Purchase cost of blades $ 207,200.00 $ 227,200.00 $ 230,400.00

R.M budget - motor

Particulars January February March April

Planned production 11000 13000 16000 12000

Motor req. per unit 1 1 1 1

Material req. for prod. 11000 13000 16000 12000

Cost per motor $ 45.00 $ 45.00 $ 45.00

Purchase cost of motor $ 495,000.00 $ 585,000.00 $ 720,000.00

6 0

4 years ago

If a firm in a purely competitive market can differentiate its product or service, it becomes part of a(n) ________ market.

k0ka [10]

If a firm in a purely competitive market can differentiate its product or service, it becomes part of a monopolistic competition market.

Monopolistic competition is a type of imperfect competition in which many manufacturers compete with each other, but sell different products, so they are not perfect substitutes.

These sellers can calculate their prices based on the uniqueness of the products they are offering, so you cannot compete on price. Also, this company that

has full control or is trying to have full control of something, especially has areas of business that no one else is involved with. She didn't think the fines would be a sufficient deterrent to monopoly practices by large manufacturers. The company has been accused of monopolistic conduct.

Learn more about monopolistic here

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5 0

1 year ago

An increase in the price of gasoline will

Brums [2.3K]

Answer:

Shift the gasoline supply curve to the right.

Explanation:

in economy , A shift to the right in supply curves indicates that the supply of the product increased, a shift to the left indicates that the supply of the product decreased.

When the price of gasoline increases, the amount of profit that the sellers can obtain by selling the product also increased. This encouraged them to supply more of that product in the market.

4 0

3 years ago

The adjusted trial balance of Norton Company contained the following information. Assume the tax rate is 25%:

const2013 [10]

Answer:

b. $65,000

Explanation:

Particulars Amount

Revenues

Service Revenue $390,000

Less: Sales Return and allowance $10,000

Less: Sales Discount $5,000

Net Sales Revenue $375,000

Less: Cost of Goods Sold $200,000

Gross Profit $175,000

Less: Operating Expenses $110,000

Operating Income $65,000

Thus, income from operation is $65,000

6 0

4 years ago