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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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Antoine recently received an email from a fraudulent organization that sought his personal financial account information. Recogn
Airida [17]

Answer:

The answer is: Phishing

Explanation:

Phishing is carried out by individuals who are trying to scan users. This is done by sending emails to try to collect someone else's credit card information, online banking accounts, or other type of login information. Phishing can also be done through web pages that are designed to illegally collect their users' information.

3 0
2 years ago
Pie Corporation paid $319,500 to acquire 90 percent ownership of Slice Company on April 1, 20X2. At that date, the fair value of
Brums [2.3K]

Answer and Explanation:

As per situation the Journal entries with narrations is here below:-

As per requirement of a

1. Slice Co. investment Dr, $319,500  

        To Cash $319,500

(Being cash paid is recorded)

2. Slice Co. investment Dr, $27,000  

      To  Income from Slice Co. $27,000

(Being investment is recorded)

3 Cash Dr, $13,500  

       To Slice Co. investment $13,500

(Being cash is recorded)

As per requirement b

1. Sales Dr, $90,000  

    To Total Expenses $80,000

     To Dividends Declared $5,000

      To Retained Earnings $5,000

(Being sales is recorded)

2. Common stock Dr, $160,000  

Additional paid-in capital Dr, $40,000  

Retained earnings Dr, $155,000  

Income from Slice Co. Dr, $27,000  

NCI in NI of Slice Co. Dr, $3,000  

       To Dividends declared $15,000  

            ($1,500 + $13,500)

        To Investment in Slice Co. $333,000  

             ($319,500 + $27,000 - $135,00)

         To NCI in NA of Slice Co. $37,000

(Being acquisition is recorded)

5 0
3 years ago
Open-market operations involve _____ and _____ securities to influence the money supply.
Akimi4 [234]
Open market operations involve buying and selling securities to influence the money supply. The correct answer is C. 
8 0
2 years ago
Read 2 more answers
The employees of Neat Clothes work Monday through Friday. Every other Friday the company issues payroll checks totaling $37,000.
Allushta [10]

Answer:

June 30                   Dr.            Cr.

Salary Expense    $14,800

Salary Payable                     $14,800

Explanation:

Total Weekly Salary Expense = $37,000

Number of working days in week = 5 days

Salary expense per day = $37,000 / 5

Salary expense per day = $7,400

As 3 days lie in July and year end is June 30

Number of days Accrued = 5 - 3 = 2 days

Salary Expense Accrued = 2 x $7,400

Salary Expense Accrued = $14,800

3 0
3 years ago
Consider the following capital budgeting problem, you invest 100 and expect to receive $50 in each of the next three years. The
Zanzabum

Answer:

What is the initial cost of the project?

the initial cost or initial outlay = $100

how much value is created?

the NPV of the project = -$100 + $50/1.1 + $50/1.1² + $50/1.1³ = $24.34

the NPV basically gives us how much value or wealth is created by the project

and what would you be willing to sell the project for?

selling price = $124.34 (= initial outlay + NPV)

6 0
2 years ago
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