Answer:
The correct answer is letter "C": The owners' equity that has accumulated as a result of profitable operations.
Explanation:
Retained Earnings are the part of the company's net profits it does not pay out as dividends to shareholders. The company retains the money and reinvests it in the company, or uses it to pay off a part of its debt. To see how much profits a corporation has kept, look under the Shareholder's equity in the Balance Sheet.
Answer:
- Don't Chew Gum
- Listen Attentively
- Sound Enthusiastic and Sincere
- Use proper language and enunciate clearly
Explanation:
(Avoid Clarifying vague questions might be an answer but not sure. I'm sorry if I am wrong)
Answer:
A. The amount of fixed overhead deferred in inventories is $60,000
Explanation:
Unit product cost
Year 1 Year 2
Direct materials $12 $12
Direct labor $5 $5
Variable manufacturing
overhead $5 $5
Fixed overhead
$48 $36
($432,000 ÷ 9,000) ($432,000 ÷ 12,000)
unit product cost $70 $58
Fixed overhead deferred (1,000 × $48) $48,000
Fixed overhead released -$48000
Fixed overhead deferred (3000 × $36) $108,000
Net $48,000 $60,000
The amount of fixed overhead deferred in inventories is $60,000
The right answer for the question that is being asked and shown above is that: "C) Mark will not be able to write checks from a money market account, which will encourage him to save money." This an issue that he needs to be aware of when comparing a money market account to a checking <span>account</span>
Answer:
Explanation:
The journal entry is shown below:
Cash A/c Dr $2,200
To Service revenue $2,200
(Being cash is received)
Since the cash is received so we debited the cash account and credited the service revenue account as the service is completed which create an income for the business organization.
We do not write unearned service revenue as the amount is actually received from the customer
