Answer:
Cash 18,450 debit
Common Stock 18,450 credit
rent expense 923 debit
cash 923 credit
suplies 1,333 debit
cash 1,333 credit
Accounts receivables 1,948 debit
Services Revenue 1,948 credit
Cash 718 debit
Unearned services 718 credit
Cash 2,870 debit
Accounts Receivables 2870 credit
salaries expense 308 debit
cash 308 credit
Explanation:
To record the entries we must rembember that debit = credit
we should put the assets we acquire on debit.
as well as expenses.
Liabilities, equity and revenues will go in credit side
The advance is considered unearned revenue and a liability as Ayala now has the obligation to perform to client M- Jason
Answer:
Controlling
Explanation:
Controllingnis a management function that focuses on the goals of the organisation. It is the process of comparing actual performance with set procedures and standards.
If there is variance in performance and management expectations there will be need for corrective action or improvement.
In this instance Yuri has been given the task of evaluating how well his company, Comfy Shoes, Inc., has implemented its new line of slippers and how this implementation could be improved. This is engaging in controlling function.
Answer: a) unfavorable direct labor price (rate) variance of $2,085.
Explanation:
The purpose of calculating variance is to see if a company is being efficient in it's production of goods and services or in it's general affairs. The variance is calculated by subtracting the actual amount that was used to do something from it's budgeted amount.
If the actual amount is higher then the Variance is said to be Unfavourable. The reverse holds true.
Calculating the Direct Labor price (rate) Variance will give us,
Direct Labor Price (rate) Variance = (Actual Price - Standard price)*Actual Hour
NB - Figures are given for 30 minutes so need to be converted.
Direct Labor Price (rate) Variance = (111,285/9,100 *2 - 115,200/9,600 * 2 ) * 9100/2
= $2,085
Actual Price (rate) variance was higher than Standard Price (rate) variance which led to an Unfavourable balance of $2,085
Answer:
The forecast for September using exponential smoothing with alpha = 0.4 is 62.
Explanation:
Forecasting Formula
Forecasting the next point is determined using the forecasting formula is the basic equation
S(t+1)=αy(t)+(1−α)S(t), 0<α≤1,t>0.
α = alpha =0.4
New forecast S(t+1) is previous forecast S(t) plus an error adjustment. This can be written as:
S(t+1)=S(t)+αϵ(t),
where ϵ(t) is the forecast error (actual - forecast) for period t.
In other words, the new forecast is the old one plus an adjustment for the error that occurred in the last forecast.
New forecast for August S(t+1) = 0.4×60 + (1-0.4)×70
= 66
New forecast for September S(t+1) =0.4×56 + (1-0.4)×66
=62