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Darina [25.2K]
3 years ago
14

Work-in-process that is being transferred into a department is debited to that work-in-process account, while work-in-process th

at is being transferred out of a department is credited to that work-in-process account True False
Business
1 answer:
oksian1 [2.3K]3 years ago
4 0

Answer:

True

Explanation:

Work in process refers to those goods which require further processing. When a department transfers work in process(WIP) to another department, the recipient department's stock of WIP is debited i.e debit the receiver principle.

Similarly work in process that is being transferred out of a department would be recorded like Purchase return i.e credit what goes out.

A debit in WIP account increases it's balance whereas a credit in WIP account reduces it's balance.

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Where does AJ’s dad find AJ’s phone? A. Floor B. Board C. Passenger Side D. Behind the dashboard
Lunna [17]

Answer:

The AJ's dad finds AJ's phone:

D. Behind the dashboard

Explanation:

  • This question is from Impact Texas Young Drivers Program's video to raise the awareness in the younger generation about driving carefully.
  • In this program, real life examples are shown via video that how distractions can lead to sever accidents and one of the video show that AJ's dad finds AJ's phone behind the dashboard.
3 0
3 years ago
Jane Hernandez owns and operates a women’s clothing shop. Her product mix
natulia [17]

Answer: Our group will suggest strategy of Contraction of product mix

<u>Explanation:</u>

Our group will suggest a contraction of the product mix strategy. As per this strategy, we can eliminate one or more product lines or product items from the product mix. This will contract our product mix. The products like medical uniforms and women jeans which are having no sale and are not profitable now can be eliminated.

A company can target the customer for those products which are still in the product mix.

8 0
3 years ago
On January 1, 20X1, Beard Company purchased a machine for $620,000. The machine is expected to have a 10-year life, with no salv
Vinil7 [7]

Answer:

1. Why is this an operating lease for Child Company?

The life of the asset is 10 years while the lease is only 3 years long, so it cannot be classified as a financial lease.

2. What are the amounts of the right-of-use asset and lease liability that Child Company should report on its balance sheet at December 31, 20X1?

annual lease payment = $128,000 (ordinary annuity)

PVIFA, 9%, 3 periods = 2.5313

present value = $128,000 x 2.5313 = $324,006.40

3. How much lease expense should Child Company recognize in 20X1?

lease expense = PV of lease x interest rate = $324,006.40 x 9% = $29,160.58

6 0
2 years ago
The following two assets and payout data are given​ below: Asset A​: Pays a return of​ $2,000 20% of the time and​ $500 80% of t
andrew-mc [135]

Answer:

I would prefer Asset B

Explanation:

A risk averse investor is the one who prefers lower amount of returns with known or specific risks instead of the higher amount of returns with unknown risks. So, from among the various level of risks, the investor will be preferring the alternative with the least interest.

So, in this case,

In Asset A: pay a return of $2,000 and at 20% of time and the $500 at 80% of time.

In Asset B: pay a return of $1,000 and at 50% of time and the $600 at 50% of time.

So, I would prefer, Asset B as it has low return but have a known risk that is of 50 -50.

6 0
3 years ago
@ranga @lulu22 @amistre64 . . Which of these would appear in the Debits column of a bank statement for a checking account?. . A.
Kruka [31]

Answer:

ATM withdrawal

Explanation:

I got it by guessing and i got it right.

6 0
3 years ago
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