Answer:
$
Material used 2,500
Direct labour 5,000
Overhead applied 200
Cost of goods sold 7,700
Explanation:
The overhead applied is the difference between cost of goods sold and cost of material used and direct labour. The cost of goods sold is $7,700 while the cost of material and labour is $7,500. The difference of $200 represents the overhead applied.
Answer:
a. No journal entry required.
Explanation:
a. No journal entry required.
b. No journal entry required.
c. DR - Rent Expense - $20
CR - Cash - $20
d. Cash (DR) 7,955
DR - Collection expense - $45
CR - Notes Receivable - $8,000
e. DR - Accounts Receivable-E. Shaw - $ 805
CR - Cash - $805
f. DR - Misc Expenses - $25
CR - Cash - $25
g. No journal entry required.
i. No journal entry required.
Answer and Explanation:
The journal entry is shown below:
Cash Dr (1,000 × $65) $65,000
To Sales revenue $59,000
To Deferred Revenue -Discount coupon $6,000
(1,000 × $100 × 30% × 20%)
(Being the sales revenue is recorded)
here the cash is debited as it increased the assets and credited the sales revenue and deferred revenue as it increased the revenue and liabilities
Answer:
B) $56,130
Explanation:
The cash flow statement shows how the company's operating, investing and financing activities affect the flow of cash by generation or use.
The investing activities section is where the purchase of fixed assets and the amount received for the disposal of these assets are accounted for.
Given that a gain was realized and the book value of the asset was given, the amount received for the disposal
= $5,278 + $50,852
= $56,130
This is the amount that will be reported in the investing activities section of the statement of cash flows as an inflow.
Answer:
Secondary Activities
Explanation:
Secondary activities inside an organization are those who support the primary activity. The primary activity consists in the production and distribution of goods and/or services to customers, while secondary activities are meant to improve aspects of the primary activity.
For example, the goal of human resources is to create good labor conditions so that employees are happier, and therefore, more productive. And the goal of the technology department is to engage in research to produce new goods or provide new services in the future.
