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3 years ago

Journalize the following entries for the month:

Business

1 answer:

Karolina [17]3 years ago

4 0

Answer:

Journal Entries without $ amounts:

a. Debit Materials Inventory for 960 units

Credit Cash Account or Accounts Payable for 960 units.

To record the purchase of materials for the production of 960 units

Debit Work in process for 960 units

Credit Materials Inventory for 960 units

To record the transfer of materials to work in process.

b. Debit Conversion Costs for 910 units

Credit Cash Account for 910 units

To record conversion expenses.

Debit Work in process for conversion costs

Credit Conversion Costs

To record the transfer of conversion costs to WIP.

c. Debit Finished Goods Inventory for 860 units

Credit Work in Process for 860 units

To record the transfer of 860 units out of WIP, (materials and conversion costs).

Explanation:

Journals serve multi-purposes for the initial recording of business transactions. They also play important roles for period-end and other adjustments. Journals come in hand for closing entries of transactions. Importantly, they identify the accounts that are debited and credited respectively. There are many kinds of journals for various purposes, from the general to so many of the specialized kinds. We can even use journal entries to record exchange of quantities, not only dollar amounts, as demonstrated above.

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Service cost

Answer: Option A.

<u>Explanation:</u>

The net pension liability is the amount by which the liability of the pension increases the total pension assets. This increases the troubles of the people who are leading a retired life. The lower the rate of interest, more are the liabilities on the retired person's life.

On the other hand when the total pension assets are more than the total pension liabilities, then it i known as the net pension assets.

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3 years ago

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.

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3 years ago

Do It! Review 11-3a Incorrect answer. Your answer is incorrect. Try again. Riverbed Corp has 3,300 shares of 7%, $103 par value

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Answer and Explanation:

1. The preferred stock is non-cumulative, and in previous years, the company has not skipped any dividends.

Dividend paid to preferred shareholders = Shares × Par value preferred stock × Shares percentage

= 3300 × $103 × 7%

= $23,793

Dividend paid to common shareholders = Cash dividend - Dividend paid to preferred shareholders

= $123,500 - $23,793

= $99,707

2. The preferred stock is non-cumulative, and in both of the two previous years, the company did not pay a dividend.

Dividend paid to preferred shareholders = Shares × Par value preferred stock × Shares percentage

= 3300 × $103 × 7%

= $23,793

Dividend paid to common shareholders = Cash dividend - Dividend paid to preferred shareholders

= $123,500 - $23,793

= $99,707

3. The preferred stock is cumulative, and in both of the two previous years the company did not pay a dividend.

Dividend paid to preferred shareholders = Shares × Par value preferred stock × Shares percentage × Number of years

= 3,300 × $103 × 7% × 3

= $71,379

Dividend paid to common shareholders = Cash dividend - Dividend paid to preferred shareholders

= $123,500 - $71,379

= $52,121

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3 years ago

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Answer:

The correct answer is telemarketing.

Explanation:

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4 years ago

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lara [203]

Answer:

d. candor

Explanation:

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3 years ago