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Korolek [52]
2 years ago
5

Tamara is a Managerial Accountant at Everything New. Everything New manufactures furniture. Tamara purchased leather to be used

on some of the furniture. Into which inventory account should she record the purchase?
A. Finished Goods Inventory
B. Raw Materials
C. Merchandise Inventory
D. Goods-In-Process
Business
1 answer:
Murrr4er [49]2 years ago
4 0

Answer:

B. Raw Materials

Explanation:

Raw materials are the basic components of manufacturing and production process in a goods manufacturing entity.  Raw Materials  are used in the production of a finished products (such as Crude Oil is a raw material for Petrol, Milk is a raw material for Yogurt, Yarn is a raw material for Garment whereas  Petrol, Yogurt and Garment are the finished products).

Keeping in view the above discussion, the leather purchased by the Tamara, to be used on some of the furniture to be manufactured by the Everything New, shall be classified as Raw Materials.

Answer is B. Raw Materials

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Answer:

The correct answer is letter "B": social entrepreneur.

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8 0
3 years ago
You have just received notification that you have won the $3 million first prize in the Centennial Lottery. However, the prize w
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Answer:

Present Value= $1,772.115

Explanation:

Giving the following information:

You have won the $3 million first prize in the Centennial Lottery.

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7 0
3 years ago
The printer ran out of preprinted sales invoice forms and several sales invoices were not printed. The best internal control to
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Answer:

Printer set up error

Explanation:

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8 0
3 years ago
Parent Co. invested $1,000,000 in Sub Co. for 25% of its outstanding stock. Sub Co. pays out 40% of net income in dividends each
yawa3891 [41]

Answer:

(A) $110,000

(B) $44,000

(C) $440,000

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Explanation:

Parent corporation invested $1,000,000 in sub corpora tion for 25% of its outstanding stock

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(B) Parent's Co's share of Sub's Co's share of dividend for the year is $44,000

(C) The total net income can be calculated as follows

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= 440,000 × 0.4

= $176,000

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3 years ago
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Answer:

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   Watch Your Tenses.

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