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DanielleElmas [232]
3 years ago
7

Gulliver, Inc., which uses a process-costing system, transfers completed production from Department no. 1 to Department no. 2 fo

r further work. Which of the following best describes the account that would be debited to record this transfer? a. Work-in-Process Inventory: Department no. 1. b. Cost of Goods Transferred. c. Finished-Goods Inventory: Department no. 1. d. Work-in-Process Inventory: Department no. 2. e. Finished-Goods Inventory: Department no. 2.
Business
1 answer:
12345 [234]3 years ago
5 0

Answer:

d. Work-in-Process Inventory: Department no. 2.

Explanation:

The profuct is Transferred from Department 1 to Department 2. The cost in in the work in process of Department 1 which will be trasnferred to next department.

Following Journal entries will be recorded for this event.

                                                                                   Dr.       Cr.

Work-in-Process Inventory: Department no. 2.      xxx

Work-in-Process Inventory: Department no. 1                    xxx

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Lerok [7]

Answer:

Option B is the correct answer.

Explanation:

Business permits regulate the safety, structure, and appearance of the business community. They act as proof that a business follows specific laws and ordinances. Requirements differ by jurisdiction, and failure to comply often results in fines or even having the business shut down. Therefore, most businesses need a general business license to operate in a particular county or city.

Thus, the permit departments are helpful in conversion investigation efforts by identifying the nature and location of businesses, new leases, and recent constructions.

Option B is the correct answer.

3 0
3 years ago
The maximum one-day loss computed for the value-at-risk (VaR) method does not depend on: a. the current level of interest rates.
ss7ja [257]

Answer:

a. the current level of interest rates

Explanation:

The current interest rate represent the factor that does not based upon the rate of interest as it does not modify on the frequentyly basis such as the price of the stock or the current price. In the case when we do the trasing in the stock market so the standard deviation would be used in order to get to know the stock volatility

Hence, the option a is correct

7 0
3 years ago
On January 1, 2021, Wooten Technology Associates sold computer equipment to the Denison Company. Delivery was made on January 1,
lubasha [3.4K]

Answer:

$1,157 rounded to the nearest whole dollar

Explanation:

4 0
3 years ago
How can tech companies increase goodwill and indirectly affect profits for parent companies?
Troyanec [42]

Answer:

The only way goodwill can be increased is through the acquisition of another company as a subsidiary. Assume a business acquires a subsidiary for a price that exceeds the total value of the subsidiary's assets.

Explanation:

3 0
3 years ago
A software company that installs systems for inventory control using RFID technology spent $760,000 per year for the past 3 year
IgorC [24]

Answer:

$2,096,924.50

Explanation:

Present value of an investment and cash inflows is measured at present time means year 0. Gradient is also valued at present time.

$760,000 each year at 9% for next 3 years is annuity payment and its Present value can be calculated as follow

PV of Annuity = P + P x ( 1 - ( 1 + r )^-(n-1) / r

Where

P = $760,000

r = 9%

n = 3 years

Placing values in the formula

PV of Annuity = $760,000 + $760,000 x ( 1 - ( 1 + 9% )^-(3-1) / 9%

PV of Annuity = $760,000 + $760,000 x 1.759111  

PV of Annuity = $760,000 + $1,336,924.50  

PV of Annuity = $2,096,924.50

5 0
3 years ago
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