Answer:
Journal entries for the transactions are given below
Explanation:
1. Development of new product
DEBIT CREDIT
Research and development $24,000
Cash $24,000
2. Paid the plaintiff for losing patent
DEBIT CREDIT
Legal fee (expense) $8,000
Cash $8,000
3. Bought Equipment and signed non-interest bearing note
DEBIT CREDIT
Equipment Cash price $37,000
Discount on note payable $5,000
Cash paid $18,000
Note payable $24,000
4. Installed sprinkler system
DEBIT CREDIT
Sprinkler system $40,000
Cash $40,000
5. Plaintiff paid for successful infringement suit on its patent
DEBIT CREDIT
Patent $24,000
Cash $24,000
6. Bought New equipment and traded old one
DEBIT CREDIT
New Equipment $13,600
Accumulated depreciation $6,800
Loss on sale $3,400
Old Equipment $13,400
Cash $10,400
Working:
Accumulated depreciation = Original Cost - book value
Accumulated depreciation = $13,400 - $6,600
Accumulated depreciation = $6,800
The account holder tries to take out more money than the account contains.
Answer:
D. Deflation
Explanation:
"Consumer Price Index" <em>(CPI)</em> measures the changes in the weighted average of prices of a market basket (consisting of consumer goods and services). It tells the<u> cost of living for every consumer. </u>
"Inflation" refers to the sustained increase of prices of goods and services while "deflation" refers to the sustained decrease of prices of goods and services.
In the situation above, the CPI is considered lower than before, thus <u>deflation</u> must have occurred during the second six-year period. It shows a <u>negative inflation rate.</u>
So, this explains the answer.
Answer:
Kanban inventory system
Explanation:
Kanban inventory system -
It refers to as the system , which make sure than the company's stores only the required components in the production or distribution process , is referred to as kanban inventory system .
The Kanban system enables to give indication for reordering or rearrange the stock .
Hence , from the given information of the question ,
The correct answer is Kanban inventory system .
Answer:
a. The division of activities into unit level, batch level, product sustaining level and facility level categories is commonly known as cost.
Explanation:
The managerial accounting is important for any service business. McDonalds have service business and they run on zero tolerance for disruption in consumer service. Management accounting enables to identify cost for product sustaining and batch producing.
