Answer:
Total job Costs added to Work In Process in October=$ 21, 700
Explanation:
Jaycee Corporation
Direct Materials requisitioned $3,200
Direct labor $4,700
Over head = 150% 0f $ 4700= $ 7050
Total Costs Added During September = $ 3,200+ $ 4,700+ $ 7050= $ 14950
Costs Added During October
Direct Materials $3,700
Direct labor $7,200
Overhead = 150 % 0f $ 7,200 = $ 10,800
Total job Costs added to Work In Process in October= $ 3,700+ $ 7,200 + $10,800= $ 21, 700
Answer:
- 1-a. Complete the Accounts Receivable and Allowance for Doubtful Accounts T-accounts to determine the balance sheet values. Disregard income tax considerations.
Accounts Rec T-Account
$ 306.673 Debit
$ 290.750 Credit
$ 7.059 Credit
$ 8.864 Debit Balance
Allowance for Doubtful Accounts T-Account
$ 7.059 Debit
$ 4.775 Credit
$ 2.284 Debit Balance
- 1-b. Complete the amounts related to Accounts Receivable and Bad Debt Expense that would be reported on the income statement for the current year.
$ 4.775 Dr Bad Debt Expense
- 1-c. Complete the amounts related to Accounts Receivable and Bad Debt Expense that would be reported on the balance sheet for the current year.
$ 2.284 Dr (Debit) Allowance for Uncollectible Accounts
$ 8.864 Dr (Debit) Accounts Receivable
Explanation:
Dr Accounts Receivable $ 306.673
Cash $ 290.750
Cr Accounts Receivable $ 290.750
Dr Allowance for Uncollectible Accounts $ 7.059
Cr Accounts Receivable $ 7.059
- Bad debt expense adjustment
Dr Bad Debt Expense $ 4.775
Cr Allowance for Uncollectible Accounts $ 4.775
- 1-b. Complete the amounts related to Accounts Receivable and
Bad Debt Expense that would be reported on the INCOME STATEMENT for the current year
Dr Bad Debt Expense $ 4.775
- 1-c. Complete the amounts related to Accounts Receivable and
Bad Debt Expense that would be reported on the BALANCE SHEET for the current year.
Dr Allowance for Uncollectible Accounts $ 2.284
Dr Accounts Receivable $ 8.864
Answer:
The statement is: True.
Explanation:
Sales entities with <em>optimal employee practices</em> are not only in charge of <em>recruiting qualified personnel</em> that could help them reach their profit objectives. Those firms are characterized by<em> involving the sales representatives in activities at all levels of the marketing department. </em>
From the first day the new hires for the sales department start operations, they are <em>informed about the corporate culture</em> of the company which is likely to be related to customer satisfaction. Also, best sales organizations worry about the <em>salesclerks' skills development</em> by providing them training. All those factors increase <em>workers' commitment </em>to the firm wanting them to keep their job position for long periods.
Answer:
Approval and the declaration by the board of directors
Explanation:
The three key requirement for a company to pay dividends are adequate retained earnings , adequate cash and the declaration and approval of the board of directors.
Looking at the provided information for Tesla incorporation ,what is missing is the Approval of the board through declaration of payment.
It was still an intention , so the declaration is still necessary for payment. Other conditions like adequate cash balance and retained earning are are already met
Answer and Explanation:
The Journal entries are shown below:-
Office equipment Dr, RM8,000
To Cash RM3,000
To Accounts payable RM5,000
(Being purchase of office equipment is recorded)
Here we debited the office equipment as it increased the assets and credited the cash and account payable as it decreased the assets and increased the liabilities
