Ask question

Ask question

All categories

3 years ago

7

To close the drawing account with a debit balance, credit the account for its balance and debit the owner's capital account. tru

e false

1 answer:

pav-90 [236]3 years ago

8 0

False is the answer.

You might be interested in

fields company has two manufacturing departments, forming and painting. the company uses the weighted average method and it repo

UNO [17]

The equivalent units of production for both direct materials and conversion for the forming department is 369,000, 384,000. b. The costs per equivalent unit of production for both direct materials and conversion for the forming department is 4.898, 3.129.

<h3>Equivalent unit of material and conversion</h3>

1. Equivalent unit of material and conversion

Unit transferred out = 34,500+490000-30000

Unit transferred out= 394,500

Equivalent unit of material = 394,500+(30000×85%)

Equivalent unit of material= 369,000

Equivalent unit of conversion = 394,500+(30000×35%)

Equivalent unit of conversion = 384,000

2. Cost per equivalent unit

Material = (56,200+1,800,200)/379,000 = 4.898

Conversion = (22,900+1,179,000)/384,000 = 3.129

3. Total Cost assigned

Cost assignment and reconciliation

Cost of units transferred out

Direct material= (394,500×4.898)

Direct material=1,932,261

Conversion=394,500×3.129

Conversion=1,234,391

Total Cost transferred out=1,932,261+1,234,391

Total Cost transferred out=3,166,652

Cost of ending work in process:

Direct material=(394,500-369,000)×4.898

Direct material=124,899

Conversion=(384,000-369,000)×3.129

Conversion=49,935

Total Cost of ending work in process= 124,899+49,935

Total Cost of ending work in process= 171,834

Hence:

Total Cost assigned=Total Cost transferred out+Total Cost of ending work in process

Total Cost assigned=3,166,652+171,834

Total Cost assigned=3,338,486

Therefore the equivalent units of production for both direct materials and conversion for the forming department is 369,000, 384,000. b. The costs per equivalent unit of production for both direct materials and conversion for the forming department is 4.898, 3.129.

Learn more about equivalent units for material and conversion here:brainly.com/question/24180104

brainly.com/question/23778248

#SPJ1

6 0

2 years ago

Professor jennings claims that only 35% of the students at flora college work while attending school. dean renata thinks that th

hodyreva [135]

The data iuse
<span>use a 5% level of significance. Very yes</span>

4 0

3 years ago

If two people are invited to invest and become partners in a business, the business owners will then the risk.

worty [1.4K]

The answer you're looking for is "Share." Hope this helps!

3 0

3 years ago

Read 2 more answers

Using the AS-AD and IS-LM models, show the effects of an increase in consumer confidence on the position of the AD, AS, IS, and

lora16 [44]

Answer: hello your question has some missing information below is the missing information

Suppose the economy begins with output equal to its natural level. Then there is an increase in consumer confidence and households attempt to consume more for a given level of disposable income.

answer :

Attached below

Explanation:

IS-LM modeling curves intersects and it also defines the value of r and Y where r ( rate of interest ) Y( output level )

The AS-AD modeling is in equilibrium where aggregate demand curve and short run and long run aggregate supply curves intersects each other defining P and Y

p ( price level ) , Y ( output level )

<em>Note : Increase in aggregate demand shifts IS outward , raises interest rate and output level</em>

6 0

3 years ago

Wall Street financial services firms and banks rewarded employees for developing "innovative" new financial investment vehicles

Nataly [62]

Answer:

Incentive plans

Explanation:

Incentive plans are strategies in which representatives of an association are kept persuaded for the work that they do, and are given motivators on coming to or achieving certain association objectives. The motivator plans can be for lower level workers, center administration and senior administration.

It is the apparatus utilized by entrepreneurs to empower, perceive and reward uncommon execution in their workers.

6 0

3 years ago