Answer:
they are debited to a Work in Process account
Explanation:
The journal entry to record the assignment of manufacturing overhead costs to production in a process cost system is done as follows:
Work - In Process (debit)
Overheads (credit)
Answer:
$5,000
Explanation:
Since the payments are due semi-annually and the bond were issued on January 1, 2016 at 100, we will have to calculate the interest cash payments for the two semi-annuals in 2016. Therefore, the interest rate to use is the full annual 5% stated rate. Therefore, we have:
Interest cash payment = Bond face value × Interest rate
= 100,000 × 5%
Interest cash payment = $5,000.
Therefore, the cash interest payments in 2016 is $5,000.
Answer:
A. the liabilities of the First National Bank decrease by $10.
Explanation:
Answer:
it would be easier if you enter these into a tabular format, so you can then do the calc on excel or copy and paste here for ppl to see it clearly. The presentation of business information is important for the intended audience
Explanation:
Answer:
Debit to Accounts Payable.
Explanation:
Using a perpetual inventory system, the entry to record the return of inventory previously purchased on account includes
Accounts Payable Dr.
Merchandise Inventory Cr.
In the periodic system the temporary Purchase Return and Allowances Accounts accumulates the cost of all returns and allowances during a period.
In periodic system each purchase, purchase returns, discounts, transportation in, transactions are recorded in separate temporary accounts.
