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guajiro [1.7K]
3 years ago
6

April 30 May 31

Business
1 answer:
Sonbull [250]3 years ago
4 0

Solution:

The record entry in accounting is the reporting of a report in an accounting document that displays the company's costs and credit balances. The amount of the payments must be equivalent to the sum of the credits otherwise the journal submission must be treated as unbalanced.

Raw material: a fundamental substance in its natural, changed or semi-managed condition, used as a contribution to the cycle of production for the eventual modification or transformation into a finished decent substance.

                                    Pass journal entry

Particular                                                Debit ($)           Credit ($)

Raw material inventory  (WN1)              210,000

                       Cash                                                         210,000

Work in process                                     186,000

           Raw material inventory                                        186,000

Factory overhead                                  15,000

           Raw material inventory                                       15,000

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Last year Attic charged $2,334,667 Depreciation on the Income Statement of Andrews. If early this year Attic purchased a new dep
olga nikolaevna [1]

Answer:

Note: The correct option is a. Increase Net Cash from operations.

Explanation:

Note: This question is not complete as the options are omitted. The options are therefore provided to complete the question before answering the question as follows:

a. Increase Net Cash from operations

b. Decrease Net Cash from operations on the Cash Flow Statement

c. No impact on Net Cash from operations

d. Just impact the Balance Sheet

The explanation of the answers is now provided as follows:

Since the assets was purchased early in the year, depreciation will be charged on it in the income statement for the year at the end of the year. Since depreciation is a non-cash item, it will added back to the net income in the indirect Cash Flow Statement method as one of the adjustments to the net income under the Cash from operations. This adding back of the depreciation will therefore lead to an Increase Net Cash from operations.

Therefore, the correct option is a. Increase Net Cash from operations.

6 0
2 years ago
Larkspur, Inc. had net sales in 2020 of $1,447,100. At December 31, 2020, before adjusting entries, the balances in selected acc
Zielflug [23.3K]

Answer:

The entry to record bad debt expense:

Debit Bad debts expense $24,446

Credit Allowance for Doubtful Accounts $24,446

Explanation:

1. At December 31, 2020,

Bad debt are estimated: 11% x $204,600 = $22,506

Before adjusting, Allowance for Doubtful Accounts had a debit balance of $1,940. So Bad debt expense will be: $1,940 + $22,506 = $24,446

The adjustment to record Bad debt expense and Allowance for Doubtful Accounts:

Debit Bad debts expense $24,446

Credit Allowance for Doubtful Accounts $24,446

6 0
3 years ago
A purely domestic firm that sources and sells only domestically, Multiple Choice should never hedge since this could actually in
Oksana_A [137]

Answer:

faces exchange rate risk to the extent that it has international competitors in the domestic market.

Explanation:

Exchange rate risk is defined as the risk that exists when a company engaged in transactions that are denominated in a foreign currency rather than the domestic currency.

So if a purely domestic firm that sources and sells only domestically has international competitors in its local market, and the exchange rate is favouring the competitors there will be a risk for them.

For example if international competitors can source raw materials cheaper because of the exchange rate of a foreign country, it will be a disadvantage to local firms that cannot reduce their prices.

5 0
3 years ago
Patterson Co. is considering a project that has the following cash flow and cost of capital (r) data. What is the project's NPV?
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Answer:

NPV= $60.52

Explanation:

Giving the following information:

Robbins Inc. is considering a project that has the following cash flow: −$950 $500 $400 $300

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To calculate the net present value we need to use the following formula:

NPV= -Io + ∑[Cf/(1+i)^n]

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For example= Year 3: 300/1.10^3= 225.39

NPV= $60.52

8 0
3 years ago
The goal of ____ is to establish international technological standards to facilitate the global exchange of information and barr
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The goal of <u> ISO</u>  is to establish international technological standards to

facilitate the global exchange of information and barrier-free trade.

<h3 /><h3>what is the goal of ISO in IT to global exchange?</h3>

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  • It develops and publishes a wide range of proprietary, industrial, and commercial standards and is comprised of representatives from various national standards organizations.

  • The organization's abbreviated name—ISO—is not an acronym; it derives from the ancient Greek word ísos, meaning equal or equivalent.

  • Because the organization would have different acronyms in different languages, the founders of the organization decided to call it the short form ISO.

  • The International Organization for Standardization (ISO) is an international nongovernmental organization made up of national standards bodies that develop and publishes a wide range of proprietary, industrial, and commercial standards.

  • The International Organization for Standardization (ISO) was founded in 1947 and is headquartered in Geneva, Switzerland.

  • In addition to producing standards, ISO also publishes technical reports, technical specifications, publicly available specifications, technical corrigenda, and guides.

To learn more about ISO, refer

to brainly.com/question/25311149

#SPJ4

5 0
2 years ago
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