A
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Answer:
d. Salaries and Wages Expense 550, Advertising Expense 950, Cash 1,500
Explanation:
Whenever a new entry is posted firstly the accounts which are debited are entered.
Secondly the accounts which are credited are posted.
And, the total of debit and total of credit shall always be same, so that the entry is recorded properly.
As an expense, it reduces income and is always debited.
And as for settling the expenses cash is paid, cash being an asset when reduced will be credited.
Total expenses debited = Salaries and Wages + Advertising Expense = 550 + 950 = 1,500
Therefore, as against it cash paid = $1,500 shall be credited.
Cash = $1,500
Thus, correct option is d.
Answer:
Information richness.
Explanation:
<u>Information richness</u> is the amount of information a communication medium can carry and the extent to which the medium enables the sender and receiver to reach a common understanding. This is the correct answer to your question.
Hope this helps!!!
Kyle.
Answer:
The effect the entry to recognize the uncollectible accounts expense for Year 2 will have on the elements of the financial statements are that it will reduce Accounts Receivable to $15,560 and the Allowance for Doubtful Accounts to $1,900 at the end of Year 2.
Explanation:
Credit sales estimated to be uncollectable = Credit sales * Estimated percentage uncollectable = $215,000 * 1% = $2,150
Ending account receivable = Beginning accounts receivable + Credit sales - Cash collected - Receivales written off as uncollectable - Credit sales estimated to be uncollectable = $76,000 + $215,000 - $271,100 - $2,100 - $2,150 = $15,560
Ending Allowance for Doubtful Accounts = Beginning Allowance for Doubtful Accounts - Allowance for Doubtful Accounts - Receivales written off as uncollectable = $4,000 - $2,100 = $1,900
Therefore, the effect the entry to recognize the uncollectible accounts expense for Year 2 will have on the elements of the financial statements are that it will reduce Accounts Receivable to $15,560 and the Allowance for Doubtful Accounts to $1,900 at the end of Year 2.
Answer and Explanation:
a. The computation of cost of ending work in process inventory for materials, conversion, and in total is shown below:-
For material = 2,080 × $15.66
= $32,572.80
For conversion = 930 × $6.23
= $5,793.90
For total cost of work in process inventory = $32,572.80 + $5,793.90
= $38,366.70
b. The computation of cost of the units completed and transferred out for materials, conversion, and in total is shown below:-
For material = 21,700 × $15.66
= $339,822
For Conversion = 21,700 × $6.23
= $135,191
For total cost of completed and transferred units = $339,822 + $135,191
= $475,013
