Answer:
C
Explanation:
debits Difference Between Implied and Book Value
Answer:
The products by services companies are consumed immediately.
Explanation:
Goods are physical tangible products that are used to satisfy human needs and wants. On the other hand, services are non-physical, nontangible products that also serve the purpose of satisfying human needs and wants.
The manufactured good can be stored in inventories after production, however, the services are consumed as they are produced. They cannot be stored in inventories to be consumed later. They have to be consumed immediately.
This is the main difference between the products of manufacturing companies and services companies.
The primary benefit of assembly lines is that they allow workers and machines to specialize at performing specific tasks, which can increase productivity. Large-scale assembly lines can allow for mass production of goods that would not be possible if products were made from start to finish by a single worker.
Answer:
$200
Explanation:
When Supplies inventory are purchased, a debit is posted to Supplies inventory and a credit to cash account or accounts payable.
As the inventories are used, debit Supplies expense and credit Supplies inventory account.
Given that $1,000 was the debit in the books and $800 per count, it means the books balance needs to be written down to the physical balance. The difference to be posted
= $1,000 - $800
= $200
This will be done by
Debit Supplies expense $200
Credit Supplies Inventory $200
Being entries to record inventory used in July
Answer:
= $560,000
Explanation:
Given that:
- -Beginning PBO: 500,000
- -Current Service Cost: 50,000
- -Discount Rate: 6% => interest cost = 500,000*6% = 30,000
- -Contributions by Pernell: 40,000
- -Benefits paid to employees 25,000
- -Loss on PBO: 5,000
As we know that service cost; gains and losses; payments to retired employees; prior service cost; interest cost; payments to employees are factors that change the balance of the PBO
So the ending balance of the PBO will be:
Beginning PBO + Current Service Cost + Interest cost Loss on PBO -Benefits paid to employees
$500,000 + $50,000+ $30,000+$5,000-$25,000
= $560,000
