Explanation:
i think it is best to state my credentials very clear.
I'll have to bring out all profiles and information about me .
I'll show them what I have knowledge about . I don't have to take about the Catholic aspect, except if I'm asked to , and I'll honestly state that I'm not a Catholic member .
Giving preference doesn't mean they can't still check my abilities and experience , I might be a pro in that aspect of what they need in the company.
Answer:
Hie your question has missing information, i tried to look it up online but i could not find it.
Here below is some explanation on the g part of your question on the treatment of over or under applied overhead on the financial statements.
At the end of the reporting period, the entity compares its actual manufacturing overhead to its applied manufacturing overhead (used in determining product cost)
<u>under- applied or over- applied</u>
If actual manufacturing overhead > applied manufacturing overhead, the overheads are under- applied.
and
If actual manufacturing overhead < applied manufacturing overhead, the overheads are over- applied.
<u>reporting on the financial statements</u>
under- applied are added to the cost of sales in the trading account. this increases the costs of sales amount.
under- applied are deducted from the cost of sales in the trading account. this decrease the costs of sales amount
<em>Alternatively,</em>
under -applied overheads are allocated to inventory balances including cost of sales and added to the total of the balances as the end of the period.
and
over -applied overheads are allocated to inventory balances including cost of sales and deducted from the total of the balances as the end of the period.
Answer:
An adjustment to retained earnings is necessary when when there is a change from LIFO to FIFO.
Calculating the effect on retained earnings:
- In the year 1 company followed LIFO and recorded ending inventory at $177500. Had it followed FIFO it would have recorded at $195000. So there would be increase in income of $17500 (195000 - 177500).
- In year 2 it followed LIFO and recorded opening inventory at $177500 and closing inventory at $355000 and thereby recording Net closing stock of $177500 (355000 - 177500). Had it followed FIFO it would have recorded a net stock of $195000.(390000-195000). So there would be increase in income by of $17500 (195000 - 177500).
So in total of 2 years there would be an increase of $35000 Net income i.e., Retained earnings and increase in stock value of $35000.
The journal entry is:
Inventory A/c Dr $35,000
To Retained earnings A/c $35,000
Explanation:
A listing contract that spells out terms and conditions for the seller and broker is a Written or Expressed agency agreement.
Express agency is an agreement that is signed in writing and is made between the principal and the agent. The contracts give the agent authority granted by the principal through an agency agreement.
An Express agency is a real agency established by a verbal or written agreement between the agent and the principal. The Principal hereby appoints the Agent hereunder to act as the Principal's agent. An express agency, for instance, is a documented listing agreement between a broker and a real estate seller. An agency agreement outlines the conditions of the agency, including what the agent is allowed to do and how much is paid for the agent's services. The agreement also grants the agent the power that the principal specifies, such as the only able to act in her place.
To know more about agency agreement refer to: brainly.com/question/14093696
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