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german
3 years ago
6

During June, Briganti Corporation purchased $81,000 of raw materials on credit to add to its raw materials inventory. A total of

$66,000 of raw materials was requisitioned from the storeroom for use in production. These requisitioned raw materials included $6,000 of indirect materials. Required:
Prepare journal entries to record the purchase of materials and their use in production.
(If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Business
1 answer:
-BARSIC- [3]3 years ago
5 0

Answer:

Explanation:

The journal entries are shown below:

1. Raw material inventory A/c Dr $81,000

           To Accounts payable A/c  $81,000

(Being the raw material is purchased on account)

2. Work in process inventory A/c Dr $66,000

   Manufacturing overheads A/c Dr $6,000

              To  Raw material inventory A/c Dr $72,000

(Being the use of the material is recorded)

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Fiat money: Group of answer choices has advantages over commodity-backed money. is currency from Italy.can include currency back
butalik [34]

The correct answer is A) has advantages over commodity-backed money.

Fiat money has advantages over commodity-backed money.

There was a time when money in the United States was backed by gold. Not any more. Fiat money, as the US dollar is backed by the US government, This is the case in other countries, For instance, the European Union's currency, the Euro, is also fiat money. Governments issue fiat money through their central banks and can exert certain kinds of control on it.

4 0
3 years ago
Supply chain management refers to Question 13 options: A) how the firm compensates the employees who work on the firm's internal
Elden [556K]

Answer:

C

Explanation:

The decisions around which stages of production to handle internally and which to buy from others

5 0
3 years ago
Read 2 more answers
Sale of partnership interestThe partners in the Biz Partnership have agreed that partner Mandy may sell her $100,000 equity in t
ddd [48]

Answer:

Mandy Capital                                                Debit: 100,000

Brittney Capital                                               Credit: 100,000

Explanation:

The journal entry will be recorded as above. Mandy sold equity worth $100,000, so we will record the entry on transfer of equity by the equity value sold. Now, for this equity value both partners can decide the amount in which one will sell to other, which in this scenario is $85,000.

5 0
3 years ago
What is one specific requirement of a negotiable instrument?
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B

Explanation:

4 0
2 years ago
. El Capitan Foods has a capital structure of 36% debt and 64% equity, its tax rate is 35%, and its beta (leveraged) is 1.4. Bas
almond37 [142]

Answer:

The firm's unleveraged beta is 1.0251

Explanation:

Hamada's equation  is used to separate the financial risk of a levered firm from its business risk.

The Hamada equation:

Bu= Bl/(1 + (1 − T)(D/E))

Bl = 1.4

wd = 0.36

Tax rate = 35%

D/E = wd / (1 – wd) = 0.5625 = 56.25%

= 1.4/ (1+(1-0.35)(0.5625))

=1.4/ 1 + (0.65)(0.5625)

=1.4/1.36

= 1.0251

5 0
3 years ago
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