1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
labwork [276]
4 years ago
5

The Physical Inventory Worksheet is used when: Multiple Choice inventory items are physically placed in the warehouse All of the

choices are correct the computer system goes down taking a physical count of inventory on hand
Business
1 answer:
maw [93]4 years ago
7 0

Answer:

taking a physical count of inventory on hand

Explanation:

The Physical Inventory Worksheet is used when taking a physical count of inventory on hand. This is the only way to tell how many items are really available for sale and allows a business to do it efficiently. An example would be counting the number of steaks the restaurant has on hand on a Saturday afternoon. This also allows the business to analyze the expected sales with the actual inventory in order to determine whether or not they need more.

You might be interested in
When Patey Pontoons issued 6% bonds on January 1,2016, with a face amount of $600,000, the market yield for bonds of similar ris
SashulF [63]

Answer:

Journal Entry

                             Dr.             Cr.

Jan 1,2016

Cash                $600,000

Bond Payable                     $600,00

Explanation:

On Jan 1, 2016 the bond is issued on the face value, so the straight value of $600,000 recorded as debit to cash and credit to bond payable. The cash is received against the a liability. The interest accrued transaction will be recorded on each year end.

3 0
3 years ago
Listed below are the transactions that affected the shareholders' equity of Branch-Rickie Corporation during the period 2021-202
Zina [86]

Answer:

a)

dividends    55.5 million debit

  dividends payable  55.5 million credit

--Nov 1st, 2021--

dividends payable 55.5 million debit

                cash             55.5 million credit

b)

dividends 2,600,000 debit

    dividends distributable 2,600,000 credit

--March 1st--

dividends distributable 2,600,000 debit

        Warner Securities 2,300,000 credit

        Gain on Investment 300,000 credit

--April 5th--

c)

dividends   119.88 million debit

  cash                            11.88 million credit

 common stock            18 million credit

 additional paid-in CS 90 million credit

d)

dividends 58.5 debit

      Dividends Payable 58.5 credit

--Nov 1st

Dividends payable 58.5 million  debit

              cash             58.5 million credit

--Dec 1st--

e) NO ENTRY REQUIRED

f)

dividends 61.425 debit

      Dividends Payable 61.425 credit

--Nov 1st

Dividends payable 61.425 million  debit

              cash             61.425 million credit

--Dec 1st--

Explanation:

a) 111 millions shares x $0.50 = $55.5 millions

c)

111 millions x $18 per share x 6% = 119.88 millions

660,000 x $18 = 11.88 millions

net: 119.88 - 11.88 = 108 millons on shares

$108 millons / $18 per share = 6,000,000 shares

d)

111  + 6 new shares = 117 shares

$117 x $0.50 = $58.5 millons

f) 3-2 split gives 3 shares for every 2 shares

117 x 3/2 = 175.5 millons

175.5 millions x 0.35 per share = 61.425 million cash dividends

7 0
3 years ago
Pureform, Inc., uses the weighted-average method in its process costing system. It manufactures a product that passes through tw
NeTakaya

Answer:

Part 1

The first department's equivalent units :

Materials  = 649,600 units

Labor = 635,200 units

Overheads = 635,200 units

Part 2

The first department's cost per equivalent unit :

Materials  = $1.50

Labor = $0.12

Overheads = $0.45

Explanation:

It is important to note that the weighted-average method is being used in Pureform, Inc process costing system.

This method focuses on the units completed and transferred and units in closing work in process to calculate the equivalent units of production.

The total cost on which to base the unit cost comprises of cost in Opening Work In Process and the Manufacturing cost incurred during the production period

<u>The first department's equivalent units</u>

<em>Equivalent units = Units Completed and transferred + Units in Closing Work in Process × Percentage of Completion</em>

Therefore,

Materials  = 610,000 + 72,000 × 55% = 649,600 units

Labor =  610,000 + 72,000 × 35% = 635,200 units

Overheads =  610,000 + 72,000 × 35% = 635,200 units

<u>The first department's cost per equivalent unit for materials, labor, and overhead</u>

<em>Cost per equivalent unit = Total Cost ÷ Total Equivalent Units</em>

Therefore,

Materials = ($ 68,500 + $ 905,900) ÷ 649,600 units

               = $1.50

Labor = ($ 5,700 + $ 70,524) ÷ 635,200 units

               = $0.12

Overheads = ($ 21,400 + $ 264,440) ÷ 649,600 units

               = $0.45

8 0
3 years ago
What is the best definition of income tax?
Troyanec [42]
Taxes paid by employees to federal and state government. Collected or withheld from one’s paycheck.
5 0
3 years ago
Off-balance sheet activities involving guarantees of securities and back-up
elena-14-01-66 [18.8K]

Answer:

B) increase the risk a bank faces.

Explanation:

Off-balance sheet activities include all the bank's activities regarding assets, debts or other financing activities that are not presented in the bank's balance sheet, e.g. issuance of guarantees, commitments to make loans, etc.

Banks incur in this type of activities because generally they charge fees for them (increase revenue) without affecting measures of indebtedness like debt to equity ratio.

6 0
3 years ago
Other questions:
  • Need help on some questions.. easy points...
    14·2 answers
  • The product development team of a company conducts a meeting to discuss the worthiness of launching a new product in the market.
    13·1 answer
  • What is the role for a clothing factory
    9·1 answer
  • Which of the following is not included in a typical financial plan?
    13·1 answer
  • Suppose that hot dogsarean inferiorgood. Suppose further that firms that sell hot dogs pay their workers the minimum wage. What
    7·1 answer
  • Oprah just inherited a house with a market value of ​$100 comma 000​, and she does not expect the market value to change. Each​
    11·1 answer
  • Since the costs of producing an intermediate product do not change regardless of whether the intermediate product is sold or pro
    11·1 answer
  • In the end, businesses that use teams tend to have ______. a. fewer sick leaves b. more profits c. more management d. fewer prod
    8·1 answer
  • Homebuyer nancy has made an offer to purchase a house and has plans to schedule a home inspection. how can her agent assist her
    13·1 answer
  • Which component of an environmental scan pertains to the income, expenditures, and resources affecting the cost of running a bus
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!