Answer:
Units Produced in the month of March: 10,810 Units
Explanation:
Production for the month of march can be estimated using the following formula:
Productions units for the month of March = Projected Sales for the month + 10% of the following months's sales as ending inventory - Opening Inventory
Units Produced for the month Units
Projected Sales for the month 10,500
Add: 10% of the following month's sales as ending inventory 1,360
(13,600 x 10%)
Less: Opening inventory (1,050)
Units produced for the month of March 10,810
The type of interest Andrea has earned is compound interest.
Simply put, compound interest is given on the principal sum of the deposit, along with the interest given on it.
This means that it is an interest on interest.
In the second year, Andrea reinvested her interest rather than taking it out.
So, in the next year, she earned interest on the principal amount deposited, plus the interest she accumulated in the first year.
Employees who are paid a set annual wage regardless of the number of hours worked or the amount of work completed are paid on a(n) salary basis.
Answer:
Correct answer is D. Credit to Salaries Payable for $8,000
Explanation:
Based on the basic underlying guideliness in accounting, specifically matching principle. All income and expenses should be reported during the period it incurred. Thus, all expenses incurred during the period even though it wasn't paid yet shoud be recorded to the book and that's the moment that the year-end adjusting entry is necessary.
On the above given problem, the salaries paid of $24,000 is presumed to have been recorded in the book already. Because it incurred and paid within the calendar period. In addition, the salaries accrued by the year end needs year-end adjustment<em> to recognize the salaries expense applicable for the period</em>. Journal entry of it is to debit salaries expense and credit salaries payable in the amount of $8,000.
Businesses/producers make the goods and services that exist in the economy. Producers create goods or services that are available for consumers to purchase so that they are making a profit. Consumers need to be interested in the goods or services available so that the companies stay in business and help drive the economy.