Answer:
Contract manufacturing.
Explanation:
A domestic firm may decide to contract for the production of its goods by established foreign manufacturer. Such private-label manufacturing by a foreign company is called contract manufacturing.
Contract manufacturing involves the process of outsourcing a company's manufacturing business, such that a foreign company engages in the production of a private-label product which are then primarily marketed or distributed by a domestic company under its own brand name.
This ultimately implies that, it is a manufacturing process which involves the production of goods by a company under the brand name of another company.
It allows workers to transfer, update, or share files within seconds.
Answer:
c. debit to Interest Expense of $1,000.
Explanation:
The adjusting entry is as follows:
Interest expense Dr ($50,000 × 6% × 4 months ÷ 12 months) $1,000
To Interest payable $1,000
(Being the interest expense is recorded)
Here interest expense is debited as it increased the expense and credited the interest payable as it also increased the liabilities
Therefore the correct option is c.
The design is shown in the attached picture. An equilateral triangle has sides that have equal measurements. On the other hand, a vertex is the terminal point of at least two line segments. Therefore, when you join three equilateral triangles sharing a common vertex, that simply means that they have a common point.
Answer:
1. $31,000
2. $40,000
Explanation:
1. Computation of bad debt expenses for the year
Bad debt expenses = Credit sales × Bad debts expenses
= $1,550,000 × 2%
= $31,000
2. Computation of year end balance
Year end balance = Beginning balance + Bad debt expense - Written off
= $31,000 + $31,000 - $22,000
= $40,000
Therefore for computing the bad debt expenses and year end balance we simply applied the above formula.
