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4 years ago

Hahn Flooring Company uses a perpetual inventory system. Journalize the December 31 adjusting entries based upon the following:

Business

1 answer:

harina [27]4 years ago

4 0

Answer:

Date Accounts titles Debit Credit

Dec. 31 Sales returns and allowances $125,000

Accounts receivable $125,000

Merchandise Inventory $80,000

Cost of Good sold $80,000

Dec. 31 Cost of Good sold $23,250

Merchandise Inventory $23,250

Note: Inventory Shrinkage = Account balance of inventory - Physical inventory on hand

= $1,333,150 - $1,309,900

= $23,250

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Miller Co. classifies its selling and administrative expense budget into variable and fixed components. Variable expenses are ex

Kobotan [32]

Answer:

Budgeted selling and administrative expense= $38,600

Explanation:

Giving the following information:

Variable expenses are expected to be $13,400 in the first quarter, and $3,900 increments are expected in the remaining quarters of 2017. Fixed expenses are expected to be $21,300 in each quarter.

We need to determine the budgeted selling and administrative expense for the second quarter:

Budgeted selling and administrative expense= (13,400 + 3,900) + 21,300

Budgeted selling and administrative expense= $38,600

3 0

3 years ago

X Company's degree of operating leverage (DOL) at the current sales volume level is calculated to be:

slava [35]

Answer:

Explanation:

Note: The complete question is attached as picture below

Degree of Operating Leverage = Contribution/Operating Income

Degree of Operating Leverage = $48000 / $12000

Degree of Operating Leverage = 4

So. X Company's degree of operating leverage (DOL) at the current sales volume level is calculated to be 4

5 0

3 years ago

Lacy's Linen Mart uses the average cost retail method to estimate inventories. Data for the first six months of 2021 include: be

faust18 [17]

Answer:

Best estimate for inventory =$70,764.85

Explanation:

The closing inventory value at retail

= (Opening inventory + Purchases - sales) all in retail prices

= $123,000 + $483,000 - 493,000.

= 113000

Closing inventory value at cost

=113,000 × (64,500 + 315,000)/(123,000 + $483,000)

=70,764.85

Best estimate for inventory =$70,764.85

4 0

3 years ago

The ________ is used to study the course of a product's sales and profits for the duration that it is produced and sold in the m

Eva8 [605]

Answer:

The correct word for the blank space is: product life cycle.

Explanation:

The product life cycle is the period of time during which a product is conceived and developed, brought to market and late removed from the market. The cycle includes four (4) stages: <em>research and introduction, promotion and growth, maturity, </em>and <em>decline</em>.

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4 years ago

Police policies and practices have also undergone a transformation in order to adapt to the economic changes brought about by th

kupik [55]

Answer:

E. all of the above are examples of this adaptation.

Explanation:

Based on the information and answers provided it can be said that all of the above are examples of this adaptation. All of these cut backs were done in order to save money for more important aspects within the police policies and practices. While expanded use of technology systems and joint forces with other county governments were done in order to facilitate the jobs and cut down on time needed for certain practices which in term saved money.

7 0

4 years ago