Answer:
Four of the concepts are external decision makers and the other four are internal decision makers.
Explanation:
a. customer E
b. pany manager I
c. Internal Revenue Service I
d. lender E
e. investor E
f. controller I
g. cost accountant I
h. SEC E
Answer:
Mountain and Meadow Tree services prepaid rent $6,600 on December 1 for 6 months rent.
Note for asset and expense accounts when they increase you debit and when they reduce you credit.
The first entry
On December 1 : Debit Prepaid Rent account for $6,600
Narration: Prepaid rent for 6 months
Balance: $6,600
Since the rent is for 6 months, monthly payment will be= 6,600/6= $1,100
On December 31 post the following adjusting entries
December 31 : Debit Rent Expense $1,100
Narration: Rent for December
Balance: $1,100
December 31 : Credit Prepaid Rent $1,100
Narration: Rent for December
Balance: $5,500
Answer: D. Debit to Accounts Receivable of $1,620 and a debit to Cash of $1,080.
Explanation:
Route 66 Gift Shop records sales and sales tax separately so we would have to account for both of them in the amount recorded in the Journal Entry.
For the Accounts Receivables therefore the figure we would record is,
= 1,500 + 1500(0.08)
= $1,620
For the Cash Sales would be
= 1,000 + 1000(0.08)
= $1,080
Therefore option D is correct.
Capacity is constrained when demand exceeds supply and the flow rate is equal to process capacity. The capacity constraint<span> is a factor that prevents a business from achieving more output. </span><span>
If capacity is constrained, we should raise the staffing level to lower capacity.</span>
Answer: $1,800,000
Explanation:
The merchandise inventory of Glaus at December 31, 2017 will be:
Begining Inventory = $1,600,000
Add: Purchases = $3,200,000
Less: Cost of goods sold = $4,000,000
Add: Gross profit = 25% × $4,000,000 = $1,000,000
Ending Inventory = $1,800,000
The answer is $1,800,000.
