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3 years ago

When the value of a country's exports exceed the value of its imports, the country is experiencing:

1 answer:

6 0

D.a trade deficit
When the value of a country's exports exceed the value of its imports, the country is experiencing:a trade deficit

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You have been asked to help King Company make the necessary journal entry to record the purchase of office furniture for a $170

Marina CMI [18]

Answer:

Debit Office Furniture account $710

Credit Cash account $170

Credit Accounts payable $710

Being entries to recognize office furniture partly paid for.

Explanation:

When items are purchased using cash, the corresponding credits in such transactions are recorded in the cash account. Where the item is purchased on account (or credit), the credit is posted to accounts payable.

Total worth of the office furniture = $170 + $540 = $710

The total debit for this will be recorded in the office furniture account.

Hence to recognize the transaction,

Debit Office Furniture account $710

Credit Cash account $170

Credit Accounts payable $710

Being entries to recognize office furniture partly paid for.

3 0

3 years ago

Entry for Issuing Materials Materials issued for the current month are as follows: Requisition No. Material Job No. Amount 201 A

Svetradugi [14.3K]

Answer:

The journal entry is as follows:

Work in process A/c Dr. $158,700

Manufacturing overhead A/c Dr. $2,250

To Raw material inventory $160,950

(To record the issuance of materials)

Workings:

Work in process is debited with direct material:

= 88,700 + 27,600 + 3,650 + 38,750

= $158,700

Manufacturing overhead debited with indirect material cost = $2,250

5 0

3 years ago

According to the Level-5 leadership pyramid, managers can become executives who are capable of building lasting greatness into t

notsponge [240]

Answer:

Level 5

Explanation:

pyramid organizational structure is structure usually from 1 to 5 having , one leader at the top, along with

small executive leadership team which is at below level with tiers of managers that have their leading down to the bottom level of team of employees.

Level 5 leaders always shows

powerful mixture of personal humility as well as indomitable will. These set of people that fall under this heirachy are incredibly ambitious, though

their ambition comes as first and foremost as regards the cause, for the organization as well as its purpose and not themselves. It should be noted that According to the Level-5 leadership pyramid, managers can become executives who are capable of building lasting greatness into the organization through a combination of willpower and humility. This occur At

level 5 of the pyramid.

7 0

3 years ago

Read 2 more answers

On June 1 of the current tax year Elisha and Ezra (who are equal partners) contribute property to form the Double E Partnership.

Helga [31]

Solution:

The relationship is called the deal to run the company by adding money, by distributing the business risk, etc. We share profit and loss from their relationship and the net profit is the partner's profits.

Calculating the basis of partners

Elisa's basis in partnership :

Particulars Amount $

Cash contribution 200,000

Add:

Share of the liability on the contributed land 70,000

Share of the construction debt 10,000

Share of the accounts payable debt 4,100

Share of partnerships taxable income 15,000

Hence, Elisha's basis in the partnership on December 30. $299,100

Ezra's basis in partnership

Particular Amount $

Land and building 340,000

Less: Debt assumed by the partnership 140,000

Add:

Share of liability on contributed land 70,000

Share of construction debt 10,000

Share of accounts payable debt 4,100

Share of partnerships taxable income 15,000

Ezra's basis in partnership on December 30. $299,100

8 0

4 years ago

Rankine Company estimates its bad debts expense by aging its accounts receivable and applying percentages to various age groups

guapka [62]

Answer:

Net amount of accounts receivable that should be included in current assets:

= Accounts receivable - Allowance for doubtful accounts

= $256,000 - $8,000

= $248,000

The journal entry is as follows:

Bad debt expense[$8,000 - $1,000] A/c Dr. $7,000

To Allowance for doubtful accounts $7,000

(To record the bad debt expense)

4 0

3 years ago