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Stells [14]
2 years ago
5

Department 1 completed work on 500 units and transferred them to Department 2. The cost of the units was​ $750. What is the jour

nal entry to record the​ transfer?
Business
1 answer:
vaieri [72.5K]2 years ago
8 0

Answer:

                                                                     Dr.       Cr.

Work-in-Process Inventory - Dept. 2:        750

Work-in-Process Inventory—Dept. 1:                    750

Explanation:

All the cost incurred in the department 1 was added in the work in process account of this department. While transferring the product from one department to other the cost of work in process will also be transferred to next department to accumulate all costs associated with the product. At the end the finished goods will be carrying all the cost incurred to manufacture that product. Due debit nature of WIP account the cost in transferred to next department's account by just crediting the WIP of department 1 and debiting WIP of department 2. WIP of Department 1 will be 0 and WIP of department 2 will be $750.

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Tropical Fruit Extracts expects its earnings before interest and taxes to be $218,000 a year forever. Currently, the firm has no
katen-ka-za [31]

Answer:

The unlevered value of the firm is $869325.15

Explanation:

For computing the value of unlevered firm, the following formula should be used which is shown below:

Value of levered firm = Earning before interest and taxes × (1 - tax rate) ÷ cost of equity

where,

Earnings before income and taxes are $218,000

Cost of equity is 16.3%

And, the tax rate is 35%

Now put these values on the above formula

So, the value would be equals to

= $218,000 × (1 - 0.35) ÷ 16.3%

= $141,700 ÷ 16.3%

= $869325.15

The other terms like bonds and the annual coupon should not be considered in the computation part because we have to calculate for unlevered firm which only includes equity and the bond is a debt security. Thus, it is irrelevant.

Hence,  the unlevered value of the firm is $869325.15

3 0
3 years ago
A(n) ________ group is created to do something productive for the organization and is headed by a leader. for example, this grou
ZanzabumX [31]

The answer is formal group. A formal group is a cluster or group of individuals, who decided to work together to achieve and reach a specific goals. Formal groups are made of individuals committed to fulfill tasks. According to the given example, this group is created to produce and develop a new series of skincare products specifically for the individuals over the old age of sixty (60), the example states that the group is created to develop a new-line of skincare products, so it is to be considered that the group being referred to is the formal group, it has indicated that there is a specific goal that is set for different individuals to come together and fulfill a specific goal.

7 0
3 years ago
" what demographic and psychographic changes are creating business opportunities for new ventures
kkurt [141]
A major one is the increase in globalization.

now a days people can talk to anyone in any part of the world at any time they want for free and within an instant of when they think of it. Bills and payments can be made from the tap of a button. Someone can stay in their house there entire life and have everything they ever needed. this is being translated to the business world in massive ways.
4 0
3 years ago
Accounts Receivable As of December 31, 2016, Nala Incorporated reported accounts receivable for $275,000 less allowance for doub
juin [17]

Answer:

A.

1. Dr Accounts receivable $180,000

Cr Sales $180,000

2. Dr Cash $125,000

Cr Accounts receivable $125,000

3. Dr Sales returns and allowances $20,000

Cr Accounts receivable $20,000

4. Dr Allowance for doubtful accounts $35,000

Cr Accounts receivable $35,000

5. Dr Accounts receivable $2,500

Cr Allowance for doubtful accounts $2,500

Dr Cash $2,500

Cr Accounts receivable $2,500

B. Dr Bad debt expense $27,500

Cr Allowance for doubtful accounts $27,500

Explanation:

A1. To record the sale on account we will debit accounts receivable as our collectible to customer and credit sales in the amount of $180,000

A2. To record the collection, we will recognize the receipt of cash so we have to debit cash and credit accounts receivable to deduct the collectible balance in the amount of $125,000

A3. When the company receives returns from the customers, it will be charged to sales returns and allowances account so we have to debit it and credit accounts receivables in the amount of $20,000 to deduct collectibles to suppliers. Said, sales returns and allowances account is a contra account of sales. Thus, any amount recorded under it will be charged against (deduction) our sales.

A4. During the write off, we will debit allowance for doubtful accounts and credit accounts receivables to reduce its amount from the worthless receivables that is deemed to be uncollectible.

A5. Collection of previously written off receivables will resort to 2 entries. First, reversal of the original entry we made during the write off. So we debit Accounts receivable and credit allowance for doubtful accounts in the amount of $2,500. Next is to record the cash we received from the customer. So debit cash and credit accounts receivable in the same amount of $2,500.

B. To record the bad debt expense, we need to compute first the ending balance of the accounts receivable.

Beg $275,000 plus sales on account of $180,000 less collection $125,000, sales return of $20,000 and write off $35,000 = $275,000.

Bad debts is 10% of the Accounts receivable, so $275,000 x 10% = $27,500

Entry:

Dr bad debt expense $27,500

Cr allowance for doubtful accounts $27,500

7 0
3 years ago
Reethika is in a meeting and has an important question. The only coworker who can answer the question is in a different meeting.
Savatey [412]

Answer:

In the following situation:

Reethika is in a meeting and has an important question. The only coworker who can answer the question is in a different meeting.

The only way Reethika can get the answer without disturbing either meeting is:

Sending a direct text message to her co-worker's cellphone.  

Explanation:

First of all, she can't send someone to look for her because that would disturb both meetings. Also, if she calls her that is also going to disturb both meetings. The only way she has is to send an e-mail or an SMS to her co-worker. However, that depends on the effect people can take upon her. Nevertheless, text messages like e-mails, SMS, or direct messages don't have a high level of disturbance. Considering most people have their cellphones in silence mode.

5 0
3 years ago
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