Answer:
they are debited to a Work in Process account
Explanation:
The journal entry to record the assignment of manufacturing overhead costs to production in a process cost system is done as follows:
Work - In Process (debit)
Overheads (credit)
Answer:
B. Available for sale securities
Explanation:
Available for sale securities refer to debt or equity instrument. They are purchased with a pre defined aim of selling them before their maturity, for profit earning. Such profit is usually a 'quick capital gain'. Apart from profit, they also assist for liquidity, repaying needs of companies.
These equities are reported at 'fair value'. This implies that unrealised gains & losses are not included in earnings. They are rather recorded in a specific segregated item head 'accumulated other comprehensive income' of shareholder's equity.
Answer:
b. inventory for $1516.
Explanation:
Term 2/10, n/30 means there is a discount of 2% is available on payment of due amount within discount period of 10 days after sale and net credit period of 30 days.
Purchase value = $83,000
Purchases return = $7,200
Amount Due = $83,000 - $7,200 = $75,800
As the $75,800 is paid within discount period, so discount will be given to customer
Discount = $75,800 x 2% = $1,516
Payment Made = $75,800 - $1,516 = $74,284
Gross method does not record the discount value it recognise the inventory at its gross amount and discount is adjusted in the inventory account after that.
Answer:
D. All of the above
Explanation:
Saving means setting funds that you don’t want to spend now for future purposes. On the other hand, investing has to do with the purchase of assets such as stocks, real estates, bonds etc. Investment in most cases makes more money for an individual, in that it generates interest at the long run.
Therefore all the reasons listed i.e (1. need for funds to meet emergencies 2. retirement income 3. desire to leave an estate for children ) are all reasons for saving and investments
The double declining-balance is a depreciation method generally results in the lowest net income for the first year a plant asset is utilized.
<h3>What is double declining balance (DDB) method all about?</h3>
The double declining balance method can e explained as type of declining balance method that uses double the normal depreciation rate.
Some of the Depreciation rates used are;
- 250% of the straight-line rate.
Learn more about double declining balance (DDB) method at:
brainly.com/question/15418098
