All categories

3 years ago

Property rights are the right of the government to own, use, and dispose of resources in an economy.

1 answer:

8 0

The statement above is false.

Property rights allude to the hypothetical and lawful responsibility for property by people and the capacity to decide how such property is utilized. In numerous nations, including the United States, people for the most part practice private property rights – the privileges of private people to collect, hold, delegate, lease or offer their property. In financial matters, property rights shape the reason for all market trade, and the allotment of property rights in a general public influences the productivity of asset utilize.

You might be interested in

John Noble speculated that Howie really didn’t know much about his employees, including the types of rewards that they found mea

Fed [463]

Nobles thoughts referred to is B. Expectancy theory. The expectancy theory refers to someone knowing how someone else will react based on motivators. If there is a specific motivator that an employer knows an employee refers to with positive behaviors, there is a good chance the employeer will be able to guesstimate what the end result of the situation would be. In this case, Howie needs to spend more time learning what his employees like and dislike to figure out a way to keep them motivated long term.

7 0

3 years ago

Budgeting material purchases budget. The Howell Company has prepared a sales budget of 42,000 finished units for a 3- month peri

tangare [24]

Answer:

The number of Gallon materials Howell company should buy is 166000 Gallons

Explanation:

Finished goods

opening inventory 11000

produced

closing inventory 13000

finished goods sold 42000

using the bottom up approach to get goods produced

sold goods + closing goods - opening goods = produced =44000 goods

Direct material ( Gallons)

opening materials 66000

purchased 166000

available for use 232000

used in production 176000

closing gallons 56000

We use the bottom up approach to get the materials to be purchased

closing stock plus used in production to get available for use then subtract opening material to get purchased = 166000

4 0

3 years ago

Department G had 3,600 units 25% completed at the beginning of the period, 11,000 units were completed during the period; 3,000

dlinn [17]

Answer:

Total Cost of Work in Process

$57,854

Total cost of the units

d. $120,060

Total cost of beginning inventory

c. $62,206

Explanation:

Department G has 3,600 units which were 25% completed. The units completed during the period are 11,000.

3,600 * 25% = 900

Units completed 11,000

total units 11,900

Cost per unit is $10.08.

Total cost of units completed = 11,900 * 10.08 = $120,060.

4 0

3 years ago

Percent of Sales Method At the end of the current year, Accounts Receivable has a balance of $430,000; Allowance for Doubtful Ac

denpristay [2]

Answer:

1. Determine the amount of the adjusting entry for uncollectible accounts. $850

Dr Bad debt expense 850

Cr Allowance for doubtful accounts 850

2. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense.

accounts receivable $430,000
allowance for doubtful accounts $4,850
bad debt expense $4,850

3. Determine the net realizable value of accounts receivable.

$430,000 - $4,850 = $425,150

Explanation:

accounts receivable balance $430,000

allowance for doubtful accounts balance $4,000

total sales for the year $1,940,000

total bad debt expense = 0.25% x $1,940,000 = $4,850

adjusting entry = $4,850 - $4,000 = $850

8 0

4 years ago

A company allocates overhead at a rate of 160% of direct labor cost. Actual overhead cost for the current period is $1,020,000,

murzikaleks [220]

Answer:

(A) $180,000 (B) A journal entry was prepared for over- or under applied overhead to cost of goods sold.

Explanation:

Solution

Now,

Let us recall from the statement from the example as follows:

A company gives an overhead at =1 60% rate

The actual overhead cost for the present period is =1020,000

Direct cost of labor = $525,000

Then,

(a) For the under applied overhead using T account we have the following:

The direct labor cost overhead = 525,000 * 160% (allocated overhead)

=$ 840,000

Thus

The Under applied overhead becomes,

Under applied overhead =The actual overhead - applied overhead

In other words we deduct the actual overhead for applied overhead

=$1020,000 - $840,000 = $180,000

(B) A Journal entry is carried out for the close over or under applied overhead.

Date Particulars Debit Credit

Cost of goods sold A/c $180,000

Manufacturing overheads $180,000

5 0

3 years ago