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ryzh [129]
4 years ago
14

Which property classification would include tools?

Business
2 answers:
Nady [450]4 years ago
8 0
The answer is durable. According to AR 735-5 (Policies and Procedures for Property Accountability), a durable property is a property that is not consumed in use, does not require property book accountability, but because of its unique characteristics requires control when issued to the user. The best example for this is hand tools.  Hand tools are measured durable because they are not used up by Soldier unlike cleaning supplies. Hand tools are not on the property book. They do require a signature when issued, whether from the tool room or the supply room. When hand tools break, they must be turned in for replacements. Soldiers who misplace hand tools pay for the lost tools in order to implement supply discipline. We must have supply discipline to save Army resources for deployments, training exercises and other mission requirements. Leaders involve periodic inventories and the correct hand receipt procedures for the same reason. Hand tools are costly and Soldiers use millions of them. So, hand tools are durable because they do not get used up, unlike consumable supplies such as hand soap or motor oil, and also require some type of control when issued.
Oliga [24]4 years ago
4 0

Answer:

Function and classification

Explanation:

The function and classification would determine whether a substance, or resource is a tool. For example, an IT resource is a tool in information transmission and technology.

In addition, the software used in such processes are also referred as tools. Furthermore, the human resources are also referred to as tools of development.  

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Andrews [41]
The answer is D. Click on the star or favorites icon.
5 0
3 years ago
The following selected transaction were completed by gourmet company during January of the current year:
Eduardwww [97]

Answer:

January 1.

Merchandise $65,000 (debit)

Accounts Payable -  ALMIS Co.  $65,000 (credit)

January 2.

Merchandise $65,000 (debit)

Freight Charges Paid in Advance $650 (debit)

Accounts Payable -  AlFA. Co.  $65,000 (credit)

Cash $650 (credit)

January 3.

Merchandise $91,000 (debit)

Accounts Payable -  fogel Co.  $91,000 (credit)

January 4.

Accounts Payable -  fogel Co.  $7,000 (debit)

Merchandise $7,000 (credit)

January 5.

Accounts Payable -  AlFA. Co.  $65,000 (credit)

Discount Received $1,300 (credit)

Cash $63,700 (credit)

January 6.

Accounts Payable -  fogel Co.  $84,000 (credit)

Discount Received $1,600 (credit)

Cash $82,400 (credit)

January 7.

Merchandise $82,900 (debit)

Freight $750 (debit)

Accounts Payable -  u I trust Co.  $82,900 (credit)

Accounts Payable - Carrier Service Provider $750 (credit)

January 19

Accounts Payable - Carrier Service Provider $750 (debit)

Cash $750 (credit)

January 9

Merchandise $10,000 (debit)

Accounts Payable -  Lenn Co.  $10,000 (credit)

January 10

Accounts Payable -  Lenn Co.  $10,000 (credit)

Discount Received $100 (credit)

Cash $9,900 (credit)

January 31

Accounts Payable -  u I trust Co.  $82,900 (debit)

Cash $82,900 (credit)

Explanation:

When Merchandise is Purchased on Account, Recognize the Assets of Merchandise and Recognize the Liability owing to the Supplier.

When Merchandise is finally paid for, De-recognize the Liability owing to the supplier (less discount applicable) and also De-recognize the Assets of Cash.

4 0
3 years ago
During its first year of operations, the McCormick Company incurred the following manufacturing costs:_______. Direct materials,
notka56 [123]

Answer:

Net income= $432,000

Explanation:

Giving the following information:

Fixed overhead, $224,000.

The company produced 28,000 units, and sold 19,000 units, leaving 9,000 units in inventory at year-end.

Income calculated under variable costing is determined to be $360,000.

The difference between absorption costing and variable costing method is that the first one includes the fixed manufacturing cost in the unitary production cost. <u>Some of the fixed overhead is allocated into ending inventory increasing the net income for the period.</u>

Unitary fixed overhead= 224,000/28,000= $8

Fixed overhead in ending inventory= 8*9,000= $72,000

Net income= 360,000 + 72,000= $432,000

6 0
3 years ago
True or False: Cutting advertising expenses often causes an erosion of profit
cupoosta [38]

Answer:

So True

Explanation:

8 0
2 years ago
What is salary system?
Murljashka [212]

Answer:

Salary systems – also referred to as compensation plans or pay structure – are a collection of steps, policies and practices employers use to pay employees for their work. Salary systems consist of more than producing a weekly, biweekly or bimonthly paycheck.

Explanation:

4 0
3 years ago
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