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Nataliya [291]
3 years ago
15

1. The closing entry for the Loss on Plant Assets account includes a debit to (A) Retained Earnings. (B) Income Summary. (C) Los

s on Plant Assets. (D) Gain on Plant Assets.
Business
1 answer:
kotykmax [81]3 years ago
7 0

Answer:

The correct answer is (B) Income Summary

Explanation:

The income summary is a procedure that allows us to glimpse, globally, all the entries that existed in a period. It provides very valuable generalized information, which lets you know how business, work or some investment is going.

To ensure that our results are accurate, we must close all income and expense accounts, and take stock to obtain our conclusions. If the results have not been favorable, we must make the necessary adjustments so that in the next income summary we can obtain better results.

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The Charade Corporation is preparing its Manufacturing Overhead budget for the fourth quarter of the year. The budgeted variable
melisa1 [442]

Answer:

The options are not correct;

Find below question as well:

The Charade Company is preparing its Manufacturing Overhead budget for the fourth quarter of the year.

Budgeted variable factory overhead $5.00 per direct labor hour

Budgeted fixed factory overhead $75,000 per month, of which $15,000 is factory depreciation

Required:

1. If the budgeted direct labor time for November is 7,000 hours then the total budgeted factory overhead for November is:

a) $ 95,000.

b) $110,000.

c) $ 75,000.

d) $125,000.

The answer to your question is $132,500(not one of the options)

The answer to my question is $110,000,option B

Explanation:

The total manufacturing overhead is made of budgeted fixed manufacturing overhead of $90,000 and the budgeted variable manufacturing overhead of $5 per direct labor hour multiplied by budgeted direct labor hours of 8,500 hours.

Total manufacturing overhead=$90,000+($5*8500)

                                                  =$90,000+$42,500

                                                  =$132,500

Answer based on my question

Total manufacturing overhead=$75,000*($5*7000)

                                                  =$110,000

The correct option is B,$110,000

7 0
3 years ago
freeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee pointsssssssssssssssssssssssssssssssssssssssssssssssssssssssssssssssssssssssssssssssss
Elan Coil [88]
Ufgziraruzgix thank you:)
3 0
3 years ago
Read 2 more answers
The numerator in the calculation of the ratio of liabilities to stockholders' equity is a.Total Assets. b.Total Stockholders' Eq
xxMikexx [17]

Explanation:

a.Total Assets

The numerator in the calculation of the ratio of liabilities to stockholders' equity is Total Assets

4 0
3 years ago
Net exports are negative when: A) a nation's imports exceed its exports. B) the economy's stock of capital goods is declining. C
puteri [66]
I think it’s d chose d and let me know!!
8 0
3 years ago
When managerial accountants assign costs to the production of specific products, the costs that are easiest to assign are
MAXImum [283]
<span>When managerial accountants assign costs to the production of specific products, the costs that are easiest to assign are direct labor and direct materials costs.


I hope this helps!</span>
3 0
4 years ago
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