To find all accounts whose current due amounts are greater than $2,500.00 and whose account manager is manager 31, enter each criterion on the same row.
The best answer for this question, would be:
True
B<span>ecause entering each criterion helps track all of the accounts of the exact amount given.</span>
Answer:
the formation of wholly owned affiliates.
Explanation:
Based on the information provided within the question it can be said that in this scenario it seems that Leodan has used the formation of wholly owned affiliates. This term refers to a company that has been completely bought by another company, where they now own 100% of it and take full responsibility for all the losses and profit of that subsidiary. Which is what Leodan has with the several glass manufacturing facilities located all over the world.
Answer:
1. Journal - Closing Entries
Date Account Titles Debit Credit
Sales Revenue $970,000
Income summary $970,000
(Closing of revenue account)
2. Closing the expenses accounts as necessary
Journal - Closing Entries
Date Account Titles Debit Credit
Income summary $888,000
Cost of goods sold $670,000
Salary expenses $150,000
Rent expenses $47,000
Interest expenses $21,000
(Closing of expenses account)
3. Closing net Income
Journal - Closing Entries
Date Account Titles Debit Credit
Income summary $82,000
Retained earning $34,000
Dividends $48,000
(Closing of net income)
Answer: barter
Explanation:
Barter is an exchange system whereby money isn't used as the medium of exchange but rather, there's a direct exchange of goods or services.
From the question, we are given the information that Italy agrees to buy 5,000 cars from Comfort Cars Inc. in exchange for 5,000 barrels of oil. This shows that a barter system took place.
Answer:
COGS 3807 debit
FG 7896 debit
WIP 2397 debit
Factory Overhead 14,100 credit
--to record the underapplication of overhead--
Explanation:
overhead rate:
$515,000 overhead / 515,000 labor cost = $1
each labor cost generates a dollar of overhead.
221,400 x 1 = 221,400 overhead in COGS
459,200 x 1 = 459,200 overhead in Finished Goods
139,400 x 1 = 139,400 overhead in WIP inventory
Total applied 820,000
Actual 805,900
Underapplied 14,100
Now we weight each concept and determiante the portion underapplocated in each concept