Calculate Net Pay

Alex invested $30,000 in cash in his business. How will this entry be posted in the ledger accounts? (You may select more than o

Over [174]

Answer:

The $30,000 will be posted to the debit side of the Cash account

The $30,000 will be posted to the credit side of the Common Stock account

Explanation:

The journal entry is shown below:

Cash A/c Dr $30,000

To Common stock A/c $30,000

(Being the cash is invested)

We simply debited the cash account and credited the capital account for $30,000 so that the correct posting can be done. So while preparing the ledger accounts we post the amount to the debit side of the cash account and credit side of the common stock account

7 0

4 years ago

The following are budgeted data: January February March Sales in units 16,900 23,800 19,900 Production in units 19,900 20,900 20

horrorfan [7]

Answer:

Purchases= 20,675 pounds

Explanation:

Giving the following information:

Production:

Feb= 20,900

Mar= 20,000

One pound of material is required for each finished unit.

Desired ending inventory= 25% of the following month's production needs.

To calculate the purchase required for February, we need to use the following formula:

Purchases= production + desired ending inventory - beginning inventory

Purchases= 20,900 + (20,000*0.25) - (20,900*0.25)

Purchases= 20,675

7 0

3 years ago

The information economy embodies the ____________ sector of a nation's economy.

sineoko [7]

Hello!

The correct answer for the blank is: Quaternary.

I really hope this helped you out! :)

5 0

4 years ago

During the year, Octagon produced 8,000 units, used 24,000 direct labor hours, and incurred variable overhead of $120,000. Budge

Naily [24]

Answer:

Variable manufacturing overhead rate variance= $48,000 unfavorable

Explanation:

Giving the following information:

Actual direct labor= 24,000 direct labor hours

Actual variable overhead of $120,000.

The standard variable overhead rate is $3.00 per direct labor hour.

To calculate the variable overhead spending variance, we need to use the following formula:

Variable manufacturing overhead rate variance= (standard rate - actual rate)* actual quantity

Actual rate= 120,000/24,000= $5

Variable manufacturing overhead rate variance= (3 - 5)*24,000

Variable manufacturing overhead rate variance= $48,000 unfavorable

6 0

4 years ago

Power deriving from one's personal attraction is called ______ power.

Oksanka [162]

The correct answer to the question is (B) referent power.

Referent power refers to a type of power that a person attains through his or her interpersonal relationship skills.

Though personalized power seems like an answer it is actually not, it is a type of motive that a person has for power. Legitimate, reward, and coercive all stem from external sources, and thus they do not fit the description in the question.

5 0

3 years ago