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3 years ago

Which of the following journal entries is recorded correctly and in the standard format?

Business

1 answer:

Zanzabum3 years ago

3 0

Answer:

D. Salaries and Wages Expense 530

Advertising Expense 910

Cash 1440

Explanation:

Salaries and wages expense, and advertising expense, are expenses, therefore, when they increase, they are debited.

Cash is an asset account, when it decreases, as in this case, it is debited.

The entry would be:

Account Debit Credit

Salaries and Wages Expense 530

Advertising expense 910

Cash 1440

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A two-year bond with par value $1,000 making annual coupon payments of $100 is priced at $1,000. a. What is the yield to maturit

amm1812

Answer: 10%

Explanation:

When the price of a bond is at par, it means that the coupon rate and the Yield to Maturity are the same.

The Coupon rate is the interest rate that the Issuer of the bond pays the bond holders as a percentage of Par.

The Coupon payment here is $100 and the rate is;

= 100/1,000

= 10%

Coupon Rate = 10% = Yield to Maturity

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3 years ago

Lower-level public agency employees who take actions outlined in law are known as ______.

NISA [10]

Lower-stage public employer personnel who take moves mentioned in regulation are recognized as Street-Level Bureaucrats.

These are public personnel who have interaction immediately with residents and feature good sized discretion withinside the execution in their work (1980:3). Examples are teachers, police officers, widespread practitioners and social employees. These street-stage bureaucrats enforce public policies. Street-stage bureaucrats act as liaisons among authorities coverage-makers and residents and those civil servants enforce coverage selections made with the aid of using senior.Street-Level Bureaucrats in Perspective.

“Street-stage bureaucrats” are public provider employees “who have interaction immediately with residents withinside the direction in their jobs, and who've good sized discretion withinside the execution in their work. A few examples include police officers, border guards, social employees and public faculty teachers. These civil servants have direct touch with individuals of the overall public, in assessment with civil servants who do coverage evaluation or financial evaluation, who do now no longer meet the public.

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9 months ago

The Assembly Department produced 5,000 units of product during March. Each unit required 2.20 standard direct labor hours. There

insens350 [35]

Answer:

The journal entry is as follows:

Explanation:

Work in Progress A/c............................................Dr $198,000

Labor efficiency variance(unfavourable)...........Dr $9,000

Labor rate variance A/c........................Cr $4,600

Wages Payable A/c.................................Cr $202,400

Working Note:

Standard hour = Standard direct labor hours × (Standard hour - Actual hour)

= $2.2 × 5,000

= $11,000

Labor efficiency variance = $18 × (11,000 - 11,500)

= $18 × 500

= $9,000

Standard cost = Standard rate × Standard hour

= $18 × 11,000

= $198,000

Actual Cost = Actual rate × Actual hour

= $17.6 × 11,500

= $202,400

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3 years ago

If people lost confidence in the government which money would have the least value

slamgirl [31]

Flat money, commodity money, the gold standard and representative money is the money that would have the least value if people lost confidence in the government. Flat money is the currency that the government has declared as legal tender but it is not backed by a physical commodity. Representative money is any money that its face value is greater than its actual value. Commodity money is money whose value comes from the commodity in which it is made of. The gold standard is economic unit of account which is based on the fied amount of gold.

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3 years ago

Match the phrase that follows with the term (a-e) it describes. integrated set of operating and financing budgets for a period o

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1. Master budget: it is an integrated set of operating and financing budgets for a period of time.

2. Production budget: it estimates the number of units to be manufactured to meet sales and inventory levels.

3. Flexible budget: it shows expected results at several activity levels.

4. Sales budget: it begins by estimating the quantity of sales.

5. Static budget: it shows expected results at only one activity level.

A budget can be defined as a financial plan that is used for the estimation of revenue and expenditures of an individual, organization or government, especially for a specified period of time, often one (1) year.

Basically, there are different types of budget and this include:

1. Master budget: it comprises an integrated set of both investing, operating and financing budgets for a specified period of time, often one (1) year.

2. Production budget: it estimates the number of units to be manufactured by a business firm, so as to meet budgeted sales and inventory levels.

3. Flexible budget: it shows expected results of a business firm (responsibility center) at several activity levels.

It is also referred to as variable budget and it's used both before and after a period's activities are completed.

4. Sales budget: it begins by estimating the quantity of sales.

Once the quantity of sales are estimated, the sales revenue that are expected is calculated by multiplying the expected unit sales price by the volume.

5. Static budget: it shows expected results of a business firm (responsibility center) at only one activity level.

A static budget is usually based on a predicted amount of sales or any other measure of activity.

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