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3 years ago

Assessment

Business

1 answer:

faust18 [17]3 years ago

6 0

Answer:

false cause people they alr on the stock market

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Moira Company has just finished its first year of operations and must decide which method to use for adjusting inventory account

Scrat [10]

Answer:

The Cost of good sold will decrease by 10,000

The other accounts balance will be the same.

<em>Missing Information:</em>

Ending balances in the relevant accounts were:

Work-in-Process 40,000

Finished Goods 80,000

Cost of Goods Sold 680,000

Explanation:

The company applied overhead for the amount of 435,000

This was charged into finished good which latter become cost of goods sold.

Then, as the actual overhead was 425,000 we have to adjust for the over-applied overehad. We applied more than it cost so we have to reduce it.

435,000 - 425,000 = 10,000

<u>We will decrease our COGS against the factory overhead account.</u>

COGS 10,000 debit

factory overhead 10,000 credit

8 0

3 years ago

Mortar Corporation acquired 80 percent of Granite Corporation's voting common stock on January 1, 20X7. On December 31, 20X8, Mo

Lubov Fominskaja [6]

Answer:

The debit adjustment to equipment would be $30,000.

Explanation:

Amount received for the equipment by Mortar from Granite - $370,000

Purchase price of the equipment = $400,000

Debit adjustment to equipment = Purchase price of the equipment - Amount received for the equipment by Mortar from Granite = $400,000 - $370,000 = $30,000

Therefore, the debit adjustment to equipment would be $30,000.

8 0

3 years ago

a. Invest all $15,000 in the stock, buying 100 shares. b. Invest all $15,000 in 1,500 options (15 contracts). c. Buy 100 options

GREYUIT [131]

Answer:

See attached picture.

Explanation:

See attached picture for explanation.

3 0

3 years ago

Identify the correct order of the four steps used to prepare a production cost summary (report). 1)Summarize the cost flow of ph

Veronika [31]

Answer:

The answer is "Option C".

Explanation:

The Costs of production relate to the price of a company producing or producing a service, which can include the range of expenditures, like labor, manufactured goods, supplies of items, and expenses. It has mainly four steps that can be defined as follows:

Complete the physical unit flow.
Measure the production unit's equivalent.
Compare the value per unit for output equivalent.
Assign costs to finished units and manufactured units.

5 0

3 years ago

If a donut shop sells a dozen donuts for $6.00, what would the cost of 9 donuts be at the same rate?

larisa86 [58]

To solve this question, first we need to find out the price of a single donut.

12 donuts = $ 6.00
1 donuts = $6.00 / 12

1 donuts = $ 0.50

After that, we just need to multiply the price for a single donut with the required amount (9), which will be:

9 x $ 0.50 = $ 4.50 . . . . for 9 donuts

3 0

4 years ago