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Triss [41]
3 years ago
9

Purchased 18-month insurance policy for cash.Prepaid Insurance 2. Paid weekly payroll. 3. Purchased supplies on account. 4. Rece

ived utility bill to be paid at later date Selaries and Wages Expense Prepaid Insurance Supplies Utilities Expense Cash Accounts Payable Utilities Expense Accounts Payable Accounts Payable Cash Utilities Expense Prepaid Insurance salaries and wages Expense ? Utilitics Expensc Accounts Payable Prepaid Insurance Salaries and Weges Expense Supplies Salaries and USlities Expense Utilities Expense Accounts Payable Supplies Debit Debit Prepaid Insurance h Prepaid Insurance Salaries and wages Expense ? Salaries and Wages Expense Accounts Payable Prepaid Insurance Utilities Expense Cash Salaries and Wages Expense Supplies Cash Supplies ar Prepaid Insurance Utilities Expense Salaries and Woges Expense
Business
1 answer:
FinnZ [79.3K]3 years ago
8 0

Answer:

1) Debit Prepaid insurance, Credit Bank

2) Debit wages, credit Bank

3) Debit Supplies Account , Credit Accounts payable

4) Debit Utility account credit Accounts payable

Explanation:

The Question requires that for each of the transaction identify account to be debited and account to be credit.

clear transactions end at the 4th transaction. After the 4th its just terms and accounts

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Perez Corporation’s computer services department assists two operating departments in using the company’s information system eff
ollegr [7]

Answer:

Production department $440,000

Sales department $143,000

Explanation:

The allocation of the total cost to the operating departments is proportional to the number of employees. In other words, as the number of employees increases, so does the allocated cost and vice versa.

Hence,

Cost allocated to the production department

= 40/(40 + 13) × $583,000

= 40/53 × $583,000

= $440,000

Cost allocated to the sales department

= 13/(40 + 13) × $583,000

= 13/53 × $583,000

= $143,000

3 0
3 years ago
Several employees at a fast-food restaurant call in sick at the last minute. The manager tries to fill in but doesn't know how t
VikaD [51]

Answer:  Trained incapacity

Explanation: In simple words, it refers to the idea that after gaining a certain kind of education, skill or experience etc. the level of thinking of an individual cannot go beyond a certain limit.

In the given case, the manager was the upper level employee and was not habitual to the work that was performed by the workers in the restaurant.

Therefore this position in the workplace limited his skills of performing only the managerial work.

Hence from the above we can conclude that the above case depicts trained incapacity.

3 0
3 years ago
True or false: you should measure the inputs to a restaurant process in customers and the outputs in dollars.
kondor19780726 [428]

You  should measure the inputs to a restaurant process in customers and the outputs in dollars is a false statement.

<h3>What is the flow of a restaurant?</h3>

This is known to be called the patron's flow and it is one that tends to originate from the entrance to the table of the host, and also   to the restrooms as well as the back out.

Note that Flow is seen as a form of volumetric flow rate and it is one that is  simply known to be the volume of fluid that moves per unit of time.

Therefore, saying that you should measure the inputs to a restaurant process in customers and the outputs in dollars is a false statement.

Learn more about restaurant process from

brainly.com/question/14672240

#SPJ1

3 0
1 year ago
Efforts by the federal reserve bank (the fed) to control the money supply and interest rates are known as:
Sindrei [870]
Efforts by the federal reserve bank to control the money supply and interest rates are known as monetary policies.
7 0
3 years ago
Dexter Industries purchased packaging equipment on January 8 for $116,600. The equipment was expected to have a useful life of t
Luden [163]

Answer:

  • Straight-line method: $36,667 yearly depreciation expense for 3 years.
  • Unit-of-production method: Year 1 - $47,850, Year 2 -  $40,590, Year 3 - $21,560
  • Double-declining method: Year 1 - $77,737, Year 2 -  $25,910, Year 3 - $6,353

Total for 3 years is $110,000 for all the depreciation methods.

Explanation:

(A) Under straight-line method, depreciation expense is (cost - residual value) / Estimated useful life = ($116,600 - $6,600) / 3 years = $36,667 yearly depreciation expense.

Accumulated depreciation for 3 years is $36,667 x 3 years is $110,000.

(B) The unit-of-production method is used when the asset value closely relates to the units of output it is able to produce. It is expressed with the formula below:

(Original Cost - Salvage value) / Estimated production capacity x Units/year

At Year 1, depreciation expense (DE) is: ($116,600 - $6,600) / 20,000 operating hours x 8,700 hours = $47,850

At Year 2, depreciation expense (DE) is: ($116,600 - $6,600) / 20,000 operating hours x 7,380 hours = $40,590

At Year 3, depreciation expense (DE) is: ($116,600 - $6,600) / 20,000 operating hours x 3,920 hours = $21,560

Accumulated depreciation for 3 years is $47,850 +$40,590 + $21,560 = $110,000.

Note that this depreciation method results in higher depreciation charge when the asset is heavily used, at this time, it was in Year 1.

(C) The double-declining method is otherwise known as the reducing balance method and is given by the formula below:

Double declining method = 2 X SLDP X BV

SLDP = straight-line depreciation percentage

BV = Book value

SLDP is 100%/3 years = 33.33%, then 33.33% multiplied by 2 to give 66.67% or 2/3

At Year 1, 66.67% X $116,600 = $77,737

At Year 2, 66.67% X $38,863 ($116,600 -  $77,737) = $25,910

At Year 3, 66.67% X $12,953 ($38,863 -  $25,910) = $8,636. This depreciation will decrease the book value of the asset below its salvage value $12,953 - $8,636 = $4,317 < $6,600. Depreciation will only be allowed up to the point where the book value = salvage value. Consequently the depreciation for Year 3 will be $6,353.

Accumulated depreciation for 3 years is $77,737 + $25,910 + $6,353 = $110,000.

6 0
3 years ago
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