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Semenov [28]
3 years ago
9

For each of the following​ companies, specify whether each company would be more likely to use job costing or process costing. a

. Janitorial services company ▼ Job costing Process costing b. Soup manufacturer ▼ Job costing Process costing c. Commercial plumbing contractor ▼ Job costing Process costing d. Toothpaste manufacturer ▼ Job costing Process costing e. Catering service
Business
1 answer:
Oduvanchick [21]3 years ago
7 0

Answer: For each of the following​ companies, each company would be more likely to use:

a. Janitorial services company - <u>Job costing.</u>

b. Soup manufacturer - <u>Process costing.</u>

c. Commercial plumbing contractor - <u>Job costing.</u>

d. Toothpaste manufacturer - <u>Process costing.</u>

e. Catering service - <u>Job costing.</u>

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Blue Spruce Architects incorporated as licensed architects on April 1, 2022. During the first month of the operation of the busi
dlinn [17]

Answer and Explanation:

The Journal entry is shown below:-

1. Cash Dr,                             $26,100

         To Common stock               $26,100

(Being Cash in exchange of common stock is recorded)

2. No Journal Entry is required

3. Office rent expenses Dr,   $1,305

           To cash                                $1,305

(Being is office rent is recorded)

4. Accounts receivable Dr,    $1,885

          To Accounts payable           $1,885

(Being architectural supplies is recorded)

5. Accounts receivable Dr,   $2,755

         To Service revenue                $2,755

(Being  service revenue is recorded)

6. Cash Dr,                              $1,015

           To Unearned revenue       $1,015

(Being cash is recorded)

7. Cash Dr,                              $4,060

         To Service revenue               $4,060

(Being cash is recorded)

8. Salary expenses Dr,            $2,176

          To Cash                                  $2,176

(Being salary expenses is recorded)

9.Accounts payable Dr,           $435

             To Cash                              $435

(Being accounts payable is recorded)

3 0
3 years ago
The following items are reported on a company's balance sheet: Cash $160,000 Marketable securities 75,000 Accounts receivable (n
marusya05 [52]

Answer and Explanation:

a. The current ratio is

We know that

Current ratio = Current Assets ÷ Current Liabilities

= $440,000 ÷ $200,000

= 2.2

Cash $160,000

Marketable Securities $75,000

Account receivable $65,000

Inventory $140,000

Current Assets $440,000

Account Payable $200,000

current liabilities $200,000

b

Quick ratio =( Current assets - inventory ) ÷ Current Liabilities

= ($440,000 - $140,000 ) ÷ $200,000

= 1.5

7 0
2 years ago
What would be the consequences if managers of a firm evaluated a project based on its actual dollar cash flows, but used a real
matrenka [14]

Answer:

Real rate of returns are lower than nominal rates of return, therefore, using a real discount rate would overestimate a project's net present value. This could result in unprofitable projects being accepted because the NPV was erroneously calculated. If you want to use a real discount rate, you must first convert cash flows to real dollars.

For example, nominal discount rate is 10%, inflation rate is 5%, real discount rate is 5%.

Initial outlay $100

NCF year 1 = $40

NCF year 2 = $40

NCF year 3 = $40

Using the real discount rate, the NPV = $8.93

Using the nominal discount rate, the NPV = -$0.53

6 0
2 years ago
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