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tatyana61 [14]
3 years ago
8

The purchase of raw materials on account in a process costing system is recorded with a:A. Debit to Purchases and credit to Cash

.B. Debit to Purchases and a credit to Accounts Payable.C. Debit to Raw Materials Inventory and a credit to Accounts Payable.D. Debit to Accounts Payable and a credit to Raw Materials Inventory.E. Debit to Goods in Process Inventory and a credit to Accounts Payable
Business
1 answer:
Mashcka [7]3 years ago
6 0

Answer: The purchase of raw materials on account in a process costing system is recorded with a "C. Debit to Raw Materials Inventory and a credit to Accounts Payable.".

Explanation: The purchase of raw materials must reflect an increase in the inventory of raw materials and an increase in the liability generated by the purchase on account.

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he income statement columns in the end-of-period spreadsheet show that debits are equal to $26,754 and credits are $68,142. what
neonofarm [45]

The information that the statement columns in the end-of-period spreadsheet mean to the accountant is the accounts have not been updated and a net income of $41,388. The correct option is b and c.

<h3>Who is an accountant?</h3>

An accountant is a person who manages and calculates the accounts or finance of a company, a firm, or a person. He calculates the capital of the person, manage taxes and give advice about the finance of the person.

Given that, debits are $26,754 and credits are $68,142. If we subtract the debit from the credit. We see a net income of $41,388.

Thus, the correct option is b. the accounts have not been updated. c, net income of $41,388.

To learn more about accountants, refer to the link:

brainly.com/question/13341312

#SPJ4

4 0
2 years ago
To transform resources into profits, organizations combine type types of work - operations and ___________.
Vlad [161]

Answer: Apart from the resources, there are three important factors for production, these are work (people or man hours available), investment (machinery and equipment needed) and organization (business planning).

Explanation: The first three factors were selected by the classical economy where Adam Smith and David Ricardo appeared, to these other organizational factors have been added, however their objective is the same, so that a company achieves the goals set, it has the task of combining these factors in the best way possible. Example: maximize man hours, use the best machinery, that the land or resources are prepared for production.

4 0
3 years ago
Which of the following is true about finding the present value of cash flows? Finding the present value of cash flows in future
Neko [114]

Answer:

The correct answer is A: %70,154

Explanation:

Giving the following information:

True: Finding the present value of cash flows in future years tells you how much you would need to invest today so that it would grow to equal the given future amount.

What is the value today of a $158,000 cash flow expected to be received 12 years from now based on an annual interest rate of 7%?

We need to use the following formula:

PV= FV/(1+i)^n

FV= final value

i= interest rate

n= number of years

PV= 158000/(1.07^12)= $70,154

3 0
3 years ago
On December 31, the balance in the office supplies account is $1,300. A physical count shows $510 worth of supplies on hand. Req
madam [21]

Answer:

Date                    Account title                                               Debit          Credit

December 1        Office Supplies Expense                           $790

                            Office Supplies                                                             $790

Explanation:

Office supplies is an asset but when it is used it should be debited to the office supplies expense account because it becomes an expense that should be catered for in the Income statement.

The office expense that is used for the year is:

= Book balance - Physical inventory

= 1,300 - 510

= $790

3 0
3 years ago
Bond A and Bond B both have 16 years to maturity and a face value of $1,000. Bond A has a 2.50% coupon while Bond B has a 5.5% c
r-ruslan [8.4K]

Answer:

Bond's A price will decrease by 27.09%

Bond's B price will decrease by 24.25%

Explanation:

Bond's A current price: should be 1,000, since he market price = coupon rate

Bond's B current price: using an excel spreadsheet we can calculate the net resent value: =NPV(2.5%,55... fifteen times,1055) = $1,391.65

If the market rate increases to 5%

Bond's A current price: using an excel spreadsheet we can calculate the net resent value: =NPV(5%,25... fifteen times,1025) = $729.06

Bond's B current price: using an excel spreadsheet we can calculate the net resent value: =NPV(5%,55... fifteen times,1055) = $1,054.19

Bond's A price will decrease by: [($729.06 - $1,000) / $1,000] x 100 = -27.09%

Bond's B price will decrease by: [($1,054.19 - $1,391.65) / $1,391.65] x 100 = -24.25%

3 0
3 years ago
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