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Makovka662 [10]
2 years ago
12

What is the safetest way to dispose of old bank account statements?

Business
1 answer:
julia-pushkina [17]2 years ago
7 0
The safest way to dispose of old bank statements - or anything with sensitive information - is shredding them.
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On March 1, the Mixing Department had 550 rolls of paper in process. During March, the Mixing Department completed the mixing pr
inn [45]

For the Mixing Department, the following journal entries are prepared.

Journal Entries:

1. Debit Work in Process $13,095

Credit Direct materials $5,720

Credit Direct labor $4,125

Credit Manufacturing overhead $3,250

  • To record costs of materials, labor, and manufacturing overhead allocated.

2. Debit Transfer out $13,630

Credit Work in Process $13,630

  • To record the cost of units completed and transferred out.

Data and Calculations:

                                       Direct       Direct     Mfg o/h       Total

                                     Materials    Labor    Allocated     Costs

Beginning inventory        $280        $365        $180        $825

Costs added in March    5,720        4,125      3,250      13,095

Total costs                   $6,000    $4,490    $3,430    $13,920

                                            Physical         Direct       Conversion

                                               Units        Materials         Costs

<u>Units to account for:</u>

Beginning Work in process    550

Started in March                  4,650

Total units to account         5,200

Completed & transferred    4,700

Ending work in process         500

<u>Units accounted for:</u>

Ending work in process       500            100 (20%)         100 (20%)

Completed & transferred  4,700        4,700 (100%)    4,700 (100%)

Total equivalent units                         4,800                4,800

                                            Direct       Conversion     Total

                                         Materials         Costs         Costs

<u>Costs to account for:</u>

Beginning inventory          $280               $545        $825

Costs added in March      5,720               7,375      13,095

Total costs                     $6,000            $7,920    $13,920

Total equivalent units      4,800              4,800

Cost per equivalent unit $1.25              $1.65

                          ($6,000/4,800)             ($7,920/4,800)

<u>Costs accounted for:</u>

Completed & transferred $5,875           $7,755        $13,630

                              (4,700 x $1.25)        (4,700 x $1.65)

Ending inventory                  $125              $165               $290

                                 (100 x $1.25)         (100 x $1.65)

Total costs accounted    $6,000            $7,920       $13,920

Learn more: brainly.com/question/24246457

7 0
2 years ago
if a bank reconciliation included a deposit in transit of $765, the company's journal entry for this reconciling item would incl
Olin [163]

If a bank reconciliation included a deposit in transit of $765 the company's journal entry for this reconciling item would contain nothing because the deposit has already been tracked and recorded. The complete question can be seen in attachment.

Bank reconciliation can be described as the process of comparing data on cash books with the corresponding data on the bank statements. It is a important process for the CFO's office and ensures the accuracy of accounting records. Reconciliation also says the process of matching transactions that have been recorded internally against monthly statements from external sources such as banks to see if there are differences in the records and to correct any discrepancies.

Learn more about Bank reconciliation at brainly.com/question/15525383

#SPJ4

7 0
1 year ago
Suppose you and a classmate are playing a game where your classmate proposes a division of​ $1.00. ​ Then, you either accept or
pochemuha

Answer: The correct answers are "A. Accept" and "$ 0.01".

Explanation: Given that we talk about optimal strategy when maximizing the expected profit by the player:

In the first case It is convenient to accept the proposal and keep $ 0.12, instead of rejecting it and running out of nothing.

And in the second case it is convenient to give the classmate as little as possible so that he accepts and we have a greater profit.

4 0
3 years ago
Hghbgfgdffhjjghgfj,kjn,kghj
Rudiy27

Answer:

Hdshjabsjjjabzizvxivww

8 0
2 years ago
Read 2 more answers
On January 1, 2009, Coronado Industries purchased for $690000, equipment having a useful life of ten years and an estimated salv
JulijaS [17]

Answer:

There is not gain in this operation so the answer is $0

Explanation:

There are some journal entries that needs to be done to have a full picture of the statement

* Purchase

Fixed Assets                        690.000

Cash                                                        690.000

* Monthly depreciation

Since, the FA was depreciated during 8 years. Firstly you have to calculate the amount that can be depreciate on a monthly basis

Amount to be depreciated = (Cost of the FA - Salvage value) = (690.000-48.600) = 641.400

Then calculate the yearly depreciation

Yearly depreciation = ((amount to be depreciated/useful life) * years used) =

(641.400/10*8) = 513.120

then the journal entry to record the monthly depreciation for 8 years is

Depreciation expense          513.120

Acc Depreciation                                   513.120

* Post the Journal Entry to record the sell of FA

You have to reverse the Acc Depreciation and credit the FA

Cash                                     152.500

Fixed assets                                         690.000

Acc depreciation                   513.120

Loss on sale of FA                   24.380

6 0
3 years ago
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