Answer:
Items a) and b)
a) items used currently in the production of goods to be sold items
b) held for resale items currently in production for future
Explanation:
Inventory consists of current assets to be used in production of final goods or are the ones which are final goods and held for sale.
In the given case also, statement a includes raw materials, which are used to make the final good to be sold, which is a part of inventory.
Further, statement b includes work in production or final goods which are currently in production but would be resold.
The items which are kept for their use as like machinery or furniture or which shall be disposed are not inventory but are in fixed assets category.
Net pay refers to the amount what you actually get to take home. we can say that it’s your gross pay from which taxes are deducted. For example, if your gross pay is $3,000 and you paid $600 in taxes, benefits and other deductions, that would make your net pay $2,400.
YTD is an abbreviation which is used for year-to-date. So if you get your paycheck on June 1, your year-to-date earnings will reflect everything you’ve earned since January 1.
Answer:
Emotion, Cultural superstitions, Perceived value, First Impressions, A Home That Tells a Story, Social Proof, The Ideal Lifestyle
Explanation:
There’s no denying that buying a home is a big decision and yet you may be surprised by the number of people who are influenced by factors other than price, resale value and location. From the number of a house to a lick of new paint on the walls, it seems we are influenced by emotion and aesthetic much more than we think
Answer:
Explanation:
The journal entries are shown below:
(a) a $415 credit balance before the adjustment.
Bad debt expense A/c Dr $685
To Allowance for Doubtful Accounts $685
(Being bad debt expense recorded)
Since the allowance for doubtful debts have a credit balance so this amount will be deducted. The computation is shown below?:
= (Outstanding accounts receivable × uncollectible rate) - credit balance
= ($55,000 × 2%) - $415
= $1,100 - $415
= $685
(b) a $291 debit balance before the adjustment.
Bad debt expense A/c Dr $1,391
To Allowance for Doubtful Accounts $1,391
(Being bad debt expense recorded)
Since the allowance for doubtful debts have a debit balance so this amount will be added. The computation is shown below?:
= (Outstanding accounts receivable × uncollectible rate) + debit balance
= ($55,000 × 2%) + $291
= $1,100 -+$291
= $1,391
Answer:
c) $2,760,000
Explanation:
Computation of the amount of overhead assigned to Slime.
First step
Ordering and Receiving=Cost/Expected use of Driver×Additional Expected use of Driver
$1,200,000/2,000×1,600
=600×1,600
=$960,000
Mixing= Cost/Expected use of Driver×Additional Expected use of Driver
=1,500,000/50,000×30,000
=30×30,000
=$900,000
Testing=Cost/Expected use of Driver×Additional Expected use of Driver
= 1,350,000/1,500×1,000
=900×1,000
=$900,000
Second step
Addition of the total of :
Ordering and Receiving $960,000
Mixing $900,000
Testing $900,000
=$2,760,000
Therefore the amount of overhead assigned to Slime will be $2,760,000
