Answer:
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Explanation:
Answer:
C. when they are incurred, whether or not cash is paid.
Explanation:
In accrual accounting, expenses are recorded in the moment they are incurred, even if they have not been paid for.
In fact, the term "accrued expense" means an expense that has been incurred, but not yet paid.
One common example of an accrued expense is accrued wages:
Suppose that a firm hires a worker on March 1, for a wage of $1,000 dollars per month, that is due to be paid at the end of the month (March 31). This worker is earning $33 per day. By March 4, the firm should have recorded accrued wages for $132 ($33 x 4 days) even if no payments will be made until March 31.
Answer:
Design Capacity Utilization= 75%
Production efficiency = 120%
Explanation:
Okay, so the question is to determine both the design and the effective capacity utilization measures and make a conclusion from there
1. The Capacity Utilization = The Actual Output/ Design Capacity
Actual Output= 300 hamburgers a day
Design Capacity = 400 Hamburgers a day
Therefore Capacity Utilization = 300 hamburgers/400 hamburgers x 100
= 75%
2. The Efficiency of the production = The Actual Output / The Effective Capacity
Actual Output = 300 Hamburgers a day
Effective Capacity = 250 hamburgers
= 300 Hamburgers/ 250 Hamburgers x 100
= 120%
Conclusion
First we see that the actual utilization of capacity is more better than the effective capacity and this is good. Also, the Design Capacity is higher than the actual capacity utilization which should also be expected as design capacity is a calculation based on ideal conditions that may be not realistic in real life conditions.
Answer:
The entries are made as follows;
Explanation:
Service Revenue Dr.$4,350
Income Summary Cr.$4,350
(To close revenue account)
Income Summary
Supplies expense Dr.$910
Insurance Expense Dr.$540
Salaries and Wages Expense Dr.$1,770
Income Summary Cr.$3,220
(To close expenses)
Income Summary (4,350-3,220) Dr.$1,130
Retained Earnings Cr.$1,130
Measuring the impact of a quota or tariff on the u.s. economy is an example of positive analysis. S<span>tating that a quota or tariff should be eliminated is an example of normative analysis.
</span><span>Positive analysis are analysis that are objectives and fact based. </span><span>
Normative analysis on the other hand are analysis that are opinions. This means that they cannot be proved or disproved.</span>
