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lutik1710 [3]
3 years ago
15

At the end of the year, a company has a $1,200 debit balance in Manufacturing Overhead. As a result, the company:a.makes an adju

sting journal entry by debiting Manufacturing Overhead for $1,200 and crediting Manufacturing Overhead for $1,200. b.makes no adjusting journal entry because the difference between actual overhead and the amount applied are a normal part of job order costing and will average out over the next year. c.makes an adjusting journal entry by debiting Manufacturing Overhead Expense for $1,200 and crediting Manufacturing Overhead for $1,200. d.makes an adjusting journal entry by debiting Cost of Goods Sold for $1,200 and crediting Manufacturing Overhead for $1,200.
Business
1 answer:
Nonamiya [84]3 years ago
5 0

Answer:

d. makes an adjusting journal entry by debiting Cost of Goods Sold for $1,200 and crediting Manufacturing Overhead for $1,200.

Explanation:

The debit balance of $1,200 in the Manufacturing Overhead account represents under-applied overhead.  To ensure that the Cost of Goods Sold is accurate, the debit balance is debited to the Cost of Goods Sold while the corresponding credit goes to the Manufacturing Overhead account.

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Shahia Company bought a building for $89,000 cash and the land on which it was located for $107,000 cash. The company paid trans
kramer

Answer:

Explanation:

The net book value of the property(land and building) at the end of year 2

Building(89,000 + 7,000 + 16,000)            112,000  

Less; Depreciation for 2 years(10,200*2)  (20,400)          91,600

Land(107,000 + 3,000)                                                  110,000

Net book value of property                                        201,600

8 0
3 years ago
The accounting records of Compass Point Wireless include the following as of December​ 31, 2016​:
uysha [10]

Answer:

1,               Compass Point Wireless

                  Balance sheet (partial)

Current Liabilities:                                $

Accounts Payable                            71,000

Interest Payable                               17,000

Salaries Payable                               10,500

Unearned Revenue                          2,400

Current Portion of Bonds payable  24,000

Total current Liabilities                 $ 124,900

Long term Liabilities                               $

Mortgage Payable                              80,000

Bonds Payable                                    64,000

Premium on Bonds Payable               10,000

Total long term liabilities                 $154,000

Total liabilities = Total current Liabilities + Total long term liabilities

=  $ 124,900 + $154,000

= 278900

2. Debt        Stockholders' equity           Debt to equity ratio

 278,900             160,000                             1.74

Note: Debt to equity ratio = Debt / Stockholders' equity

6 0
3 years ago
Colliers, Incorporated, has 100,000 shares of cumulative preferred stock outstanding. The preferred stock pays dividends in the
VladimirAG [237]

a. The amount that will go to the preferred stockholders is $400,000.

b. The amount of the declared dividend that will be available for common stock dividends is $200,000 ($600,000 - $400,000).

Data and Calculations:

Cumulative Preferred Stock Outstanding = 100,000 shares

Dividends per share = $2

Cumulative Preferred Dividend last year = $200,000 (100,000 x $2)

Preferred Dividend this year = $200,000 (100,000 x $2)

Total preferred dividend to be paid this year = $400,000

Thus, the Preferred Stockholders will be paid $400,000 ($200,000 for last year and $200,000 for this year).

Learn more: brainly.com/question/24297088

6 0
2 years ago
The more data you can collect and analyz,the more accurately you can predict the probability of various destructive event
vampirchik [111]

True

Larger sample size equals more accuracy

7 0
3 years ago
Anthony is putting together an employee group to help add new technology to his company's existing products. He is seeking emplo
Zarrin [17]

Answer:

True

Explanation:

True, but to achieve full success Anthony should manage his millennials properly. Despite being labeled as 'tech savvy, flexible, adaptable,  they need to feel their voices are being heard,  they're part of a team, so they will generate a stronger and stronger sense of commitment.

7 0
3 years ago
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