Answer:
a. asset (A)
b. liabilities (L)
c. equity (E)
d. asset (A)
e. liabilities (L)
f. equity (E)
g. equity (E)
h. liabilities (L)
Explanation:
A Balance sheet shows the balance of assets, liabilities and equity at the reporting date.
Assets are economic resources controlled by the entity such as equipment and cash.
Liabilities are obligation that arise such as wages payable and tax payable.
Equity is the residue after deducting liabilities from assets. it represents the owners contribution through equity and retained income.
Answer: A. Depreciation Expense and credits a contra-asset account.
Explanation:
Depreciation is an expense which means that when it is incurred, it will be debited because expenses are debited to show that they have increased.
Depreciation reduces the value of an asset so the asset needs to be credited which is what is done when an asset reduces. The full entry would therefore involved a debit to the Depreciation account and a credit to the asset account that is being depreciated.
Answer:
This question highlight regarding finding out the Flow time which were given as - Inventory / Time.
The repair shop is now dedicates that one elevator for routine and one for key. Now compute the Flow time for both cases.
Case 1: - For Routine Repairs: -
Inventory = 5
Time = 3 per hour.
Therefore, the Flow Time = Inventory / Time = 5/3 = 1.67 hours
Thus, the cars wait time at an average of 1.67 hrs. before being served at routine repairs.
Case 2: - For Major Repairs: -
Inventory = 3
Time = 1 per hour.
Therefore, Flow Time = Inventory / Time = 3/1 = 3 hours
Thus, the cars wait time at an average of 3 hrs. before being served at major repairs.
Answer:
d.All of these choices are true.
Explanation:
In a process costing system, a.There is no need to track materials to processes.b.There is no need to use time tickets to assign costs to processes.c.A process costing system is more expensive to maintain because it has more work-in-process accounts.d.All of these choices are true . All of the choices given are true .
Answer:
B
Explanation:
Outsiders who were once employees
Because they have the inside information. And if your up to any tricks, they'll know! And you'll basically be at their liberty.
