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kupik [55]
3 years ago
11

Bonita Company assigns overhead based on machine hours. The Milling Department logs 2350 machine hours and Cutting Department sh

ows 3990 machine hours for the period. If the overhead rate is $7 per machine hour, the entry to assign overhead will show a _______.
Business
1 answer:
Y_Kistochka [10]3 years ago
5 0

Explanation:

The computation of the overhead amount is shown below:

= (Milling department machine hours + cutting department machine hours) × overhead rate per machine hour

= (2,350 machine hours + 3,990 machine hours) × $7

= 6,340 machine hours × $7

= $44,380

So for assigning the overhead cost we have to credited the manufacturing overhead for $44,380

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When a salesperson calls on a new business prospect, A) the salesperson may have trouble identifying all of the buying center me
vovikov84 [41]

Answer:

Option(D) is the correct answer to the given question .

Explanation:

Whenever a salesperson led to a new business point of view then following are the point he always doing for  the good business prospective .

  • Promotional tools are the trump card for the salespeople. Individuals or the user can obtaining the consumer 's objective and its use as well as it helps the influence a line of inquiry.
  • Salesperson could have trouble recognizing all members of the purchasing center.
  • The salesperson will check the list of the purchasing list of members .
  • The salesperson must maintain the relationship  that is the important step in creating the confidence to their possibilities.

4 0
3 years ago
Eli Lilly is very excited because sales for his nursery and plant company are expected to double from $600,000 to $1,200,000 nex
Nata [24]

Answer:

ending cash balance = -$84,000

Since the profits are not enough to cover asset buildup, he will probably need to borrow money to cover them. Even though his company will be more profitable, its cash position will not be very healthy.

Explanation:

current sales $600,000

net assets = equity = $300,000

return = $600,000 x 8% = $48,000

next year's sales $1,200,000

net assets = equity = $600,000

return = $1,200,000 x 8% = $96,000

asset buildup = $600,000 - $300,000 = $300,000

ending cash balance = beginning cash balance + profit - asset buildup = $120,000 + $96,000 - $300,000 = -$84,000

3 0
3 years ago
The balance sheet of Indigo Company at December 31, 2019, includes the following. Notes receivable $54,600 Accounts receivable 1
Alchen [17]

Answer:

Prepare the journal entries for above accounts

Explanation:

1. Cash   Dr.147,000

   Sales Discount Dr.1,314

   A/R                                   Cr.148,314    

2. Account  Receivable     Dr.5,620

    Disallowance for Bad debts        Cr.5,620

3.  Allowance for Doubtful Accounts  Dr.26,900

    Account Receivable                        Cr.26,900

4.  Bad Debts Expense    Dr.26,900

    Allowance for Doubtful Accounts   Cr.26,900

             

8 0
3 years ago
Arctic Cat sold Seneca Motor Sports a shipment of snowmobiles. The snowmobiles were delivered on January 1, 2021, and Arctic rec
WITCHER [35]

Answer:

Assume the note indicates that Seneca is to pay Arctic the $39,700 due on the note on December 31, 2021. Prepare the journal entry for Arctic to record the sale on January 1, 2021.

Dr Notes receivable 39,700

    Cr Sales revenue 36,759.26

   Cr Discount on notes receivable 2,940.74

Discount on notes receivable is a contra asset account that decreases the net amount of notes receivable.

Assume the same facts as in requirement 1, and prepare the journal entry for Arctic to record collection of the payment on December 31, 2021.

Dr Cash 39,700

    Cr Notes receivable 36,759.26

    Cr Interest revenue 2,940.74

Assume instead that Seneca is to pay Arctic the $39,700 due on the note on December 31, 2022. Prepare the journal entry for Arctic to record the sale on January 1, 2021.

Dr Notes receivable 39,700

   Cr Sales revenue 34,036.35

   Cr Discount on notes receivable 5,663.65

Discount on notes receivable is a contra asset account that decreases the net amount of notes receivable.

Assume instead that Arctic does not view the time value of money component of this arrangement to be significant, and that the note indicates that Seneca is to pay Arctic the $39,700 due on the note on December 31, 2021. Prepare the journal entry for Arctic to record the sale on January 1, 2021.

Dr Notes receivable 33,900

    Cr Sales revenue 33,900

Explanation:

Non interest bearing notes must be recorded at present value, so we need to determine the present value of the payment:

Payment due December 21, 2021, PV = $39,700 / (1 + 8%) = $36,759.26

Payment due December 21, 2022, PV = $39,700 / (1 + 8%)² = $34,036.35

We use the discount on notes receivable account (contra asset account) to decrease the net value of notes receivable.

8 0
3 years ago
if you are interested in a career in the hospitality industry, it is important that you enjoy the following:
Nezavi [6.7K]

if you are interested in a career in the hospitality industry, it is important that you enjoy the following:

  • working with people
  • an upbeat work environment
  • traveling
  • opportunity for growth and career advancement.

<h3>What are pros and cons of working in hospitality industry?</h3>

Pros -

  • Opportunities for Many Benefits, Not a 9-to-5 Job, Diverse Jobs that Travel
  • It is dynamic, ever-evolving, and collaborative.

Cons -

  • a worldwide industry-wide five-day workweek. Employee happiness leads directly to better service, which will surely have long-term benefits.
  • Weekend work is compensated in addition to the regular weekend off.
  • using technology more effectively to forecast the requirement for personnel during peak season
  • Depending on its practicality, automation at the front desk and in restaurants during peak hours

To learn more about hospitality from given link

brainly.com/question/618712

#SPJ4

7 0
1 year ago
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