1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
jok3333 [9.3K]
3 years ago
8

Department 1 completed work on 500 units and transferred them to Department 2. The cost of the units wasâ $750. What is the jour

nal entry to record theâ transfer? Date Accounts and Explanation Debit Credit A. Work-in-Process Inventory-Dept. 1 750 Work-in-Process Inventary-Debit. 2 750 B. Work-in-Process Inventory-Dept. 2 750 Work-in-Process Inventary Debit. 1 750 C. Work-in-Process Inventary-Dept. 2 750 Cost of Goods Sold 750 D. Cost of Goods Sold 750 Work-in-Process Inventory-Dept. 1 750
Business
1 answer:
horsena [70]3 years ago
4 0

Answer:

B. Work-in-Process Inventory-Dept. 2 750 Work-in-Process Inventary Debit. 1 750

Explanation:

The journal entry to record this transaction is shown below:

Work-in-Process Inventory A/c - Department 2 $750

               To Work-in-Process Inventory A/c - Department 1 $750

(Being the completed units are transferred)

For recording this transaction we debited the work in process department 2 and credited the work in process department 1

You might be interested in
At the time of his death on July 9, Aiden held rights in the following real estate: Fair Market Value (on July 9) Apartment buil
VladimirAG [237]

Answer:

The answer is \$1,200,000"".

Explanation:

\to [\$500,000 (\frac{1}{3} \times \$1,500,000) + \$250,000 (\frac{1}[3}  \times \$750,000 + \$450,000 (\frac{1}[2}  \times \$900,000]\\\\\\to \$1,200,000

Though this tree farm is jointly held, Aiden is assumed to have given 1/3 of the treatment because his mother gave her a gift to create the lease. The tenancy of the major chunk is subjected to the fifty percent spouse exclusion rule. None of the structures is included as Chloe does not escape Aiden.

6 0
3 years ago
On August 5, 2021, Blossom Furniture shipped 50 dining sets on consignment to Furniture Outlet, Inc. The cost of each dining set
Gennadij [26K]

Answer:

$15,960

Explanation:

The total profit on units sold for the consignor:

= Sales Value - Cost of Goods Sold - Shipping Expenses - Commission - Advertising Expenses - Installation and setup costs

= (40 × $720) - (40 × $220) - [$1,850 × (40/50)] - ($28,800 × 5%) - $470 - $650

= $28,800 - $8,800 - $1,480 - $1,440 - $470 - $650

= $15,960

5 0
3 years ago
Coronado Industries had the following accounts and balances:
AysviL [449]

Answer:

15250

Explanation:

efgyyuhhfdfujhhjhhrfdfghuikjhgfdfj

7 0
3 years ago
Read 2 more answers
Universal Containers requires that the organization-wide default for opportunities be set to public read/write. However, sales u
____ [38]

Answer: The correct answer is "D. Use the show filter to filter report results and reduce records returned".

Explanation: If sales users are complaining that opportunity reports return too many results, making it difficult to find their team’s opportunities in the report results it would be convenient <u>use the show filter to filter report results and reduce records returned.</u>

7 0
3 years ago
Terrance has just signed a contract with a bank to get a loan to buy a new house. What is TRUE about this contract? A. Both the
borishaifa [10]

Answer: C. Both parties now have an obligation to their agreement.

Explanation:

When parties get into a contract, they have a legal obligation to each other to fulfill their part of the agreement or the other party will be able to seek redress in a court of law.

Terrance and the bank are now parties to an agreement to provide Terrence with a loan to buy a house. The bank will have to fulfill this obligation by giving Terrence the loan and Terrence will fulfill his side of the agreement by making payments as stipulated in the loan covenant.

5 0
3 years ago
Other questions:
  • The following information was available from the inventory records of Sunland Company for January: Units Unit Cost Total Cost Ba
    12·1 answer
  • When they are first​ born, Grandma gives each of her grandchildren a ​$4 comma 000 savings bond that matures in 18 years. For ea
    10·1 answer
  • Which of the following is not a typical adjustment made to the income statement for projection purposes?
    7·1 answer
  • The smartphone market is in​ long-run equilibrium. Then the demand for smartphones increases. Describe what happens in the marke
    12·1 answer
  • The total cost of Jurislon to be purchased in August is: Multiple Choice $1,839,600 $1,208,700 $1,014,300 $1,017,000
    6·1 answer
  • On june 15, 2018, sanderson construction entered into a long-term construction contract to build a baseball stadium in washingto
    11·1 answer
  • Analyze product, price and cost in relationship in the market<br><br>​
    12·2 answers
  • Select the correct answer. Which term describes the ability to use different types of reasoning for different situations and ana
    10·2 answers
  • 5. Refer to the original data. By automating, the company could reduce variable expenses by $3 per unit. However, fixed expenses
    6·1 answer
  • I NEED HELP ;((((((<br><br> please someone
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!