Answer:
Money as a medium of exchange is more preferable because of its less cumbersome nature.
Explanation:
Money as a medium of exchange is more suitable because of its less cumbersome nature. Money was invented because of the inefficient nature of the barter system.
Money is easily stored compared to a barter system.
Money as a medium of exchange eliminates the barter system's problem of double coincidence of wants. Barter works when you trade things you own for things you want. If for example you want a bicycle and you own a goat, you have to look for someone who wants a goat and owns a bicycle willing to make an exchange, which can be quite difficult.
Money is an acceptable medium of exchange to all parties which makes it more preferable to bartering.
Answer:
Predetermined manufacturing overhead rate= $33.1 per direct labor hour
Explanation:
Giving the following information:
Salary of factory supervisor $37,800
Heating and lighting costs for factory $22,900
Depreciation on factory equipment $5500
The company estimates that 2000 direct labor hours will be worked in the upcoming year.
<u>To calculate the predetermined manufacturing overhead rate we need to use the following formula:</u>
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= (37,800 + 22,900 + 5,500) / 2,000
Predetermined manufacturing overhead rate= $33.1 per direct labor hour
For the answer to the question above, I think the answer is because they want <em><u>"</u></em><u><em> to</em></u><u><em> </em></u><span><u><em>reduce their employment risk; increase the company's value" </em></u>that's why they want to diversify</span>
I hope my answer helped you. Have a nice day!
Answer:
WDF Inc. is correct. From the fact that JLG Architectural Products and East Coast Window Installers Inc. were partners in the window installation subcontract, they should be jointly and severally held liable for any liability arising from the window installation project unless they have contrary agreements clearly differentiating their liabilities in the partnership.
Explanation:
WDF Inc. = main contractor
JLG Architectural Products = subcontractor and partner to East Coast
East Coast Window Installers Inc. = subcontractor and partner to JLG
JLG Architectural Products and East Coast Window Installers Inc have formed a partnership when they come together to form a business or execute a business transaction jointly. A joint venture is a kind of partnership.
Answer: The amount the company would report as its net accounts receivable at 31 December 2017 is $801,000.
Explanation: Net accounts receivable is the recoverable amount of receivable after considering the amount that is deemed to be uncollectible. It is accounts receivable balance minus the allowance for doubtful accounts.
In the instance of this question, the net accounts receivable was initially $801,000 ($870,000 - $69,000). Now that management approved a write-off of $17,000, the implication is that the write-off would hit allowance for doubtful account (since there is a buffer in that account instead of bad debt expense), and the necessary accounting entries to be recorded would be: <em>Debit Allowance for doubtful accounts $17,000; Credit Accounts Receivable $17,000. </em>With these entries, both accounts receivable and the allowance for doubtful accounts would be reduced by the same account. Consequently, the net accounts receivable remains the same but the individual balances in accounts receivable and allowance for doubtful account would now be $853,000 ($870,000 - $17,000) and $52,000 ($69,000 - $17,000).
