Most private enterprise mainly run to gain profit
I believe the answer is D. Bank
Answer: C - Jenny pays Abe $300 to give the dog to his parents who live on an isolated farm.
Explanation: Since the benefit of owning the dog is worth $200 to Abe and Jenny is willing to pay him $300 to send the dog to his parents who lives on an isolated farm. Abe stand to gain an extra $100 above his initial benefit of keeping the dog for $200.
Answer:
Year end journal entries are given below in explanation
Explanation:
a. Company provided service to customer which means that company has earned revenue
Account Dr Cr
Accounts Receivable 2200
Sales/Revenue 2200
b. Wages expense have incurred but are not paid yet. Thus, its Liability should be booked.
Wages Expense 1200
Wages payable / Liability 1200
c. The company has taken loan from the bank. Interest due on the loan is 416 but are not paid yet.
Interest Expense 416
interest Payable 416
d. The company had contract for lawn service. To book the expense of lawn service
Lawn Service Expense 520
Lawn Service Payable 520
e. The company has also made some investment. $ 220 is earned on that investment. to book the non operating income
Interest revenue receivable 220
Interest revenue - Non operating income 220
f. Salaries of Supervisor is due on 31 st December but are not paid yet.
Salaries Expense 920
Salaries payable 920
Answer:
correct option is d. $4800 U
Explanation:
given data
product requiring = 3 direct labor hours
standard rate = $ 16 per direct labor hour
produced using = 8700 direct labor hours
actual payroll = $135720
to find out
labor quantity variance
solution
we get here labor quantity variance that is express as
Direct labor quantity variance = (standard hours worked for actual production - actual hour worked) × standard rate per direct labor hour ...................1
here standard hours worked for actual production will be as
standard hours worked = standard hours required per unit of production × actual units produced
standard hours worked = 3 × 2800
standard hours worked = 8400 hours but we have given actual work hour 8700 direct labor hours
so put all value is equation 1 we get
Direct labor quantity variance = ( 8400 - 8700 ) × $16
Direct labor quantity variance = $4800 unfavorable
so correct option is d. $4800 U
