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solniwko [45]
3 years ago
13

On January 1, Power House Co. prepaid the annual rent of $10,140. Prepare the journal entry to record this transaction.

Business
1 answer:
Ad libitum [116K]3 years ago
3 0

Answer and Explanation:

The journal entry to record the given transaction is shown below:

Prepaid rent Dr $10,140

          To Cash $10,140

(Being the prepaid annual rent paid in cash is recorded)

For recording this we debited the prepaid rent as it increased the assets and credited the cash as it reduced the cash so that the proper posting could be done  

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The standard factory overhead rate is $7.50 per machine hour ($6.20 for variable factory overhead and $1.30 for fixed factory ov
lesantik [10]

Answer:

$26,000 adverse variance

Explanation:

Fixed Overheads Volume Variance = Budgeted Overheads at Actual Output - Budgeted Fixed Overheads

                                                             = $1.30 x 60,000 hours - $1.30 x 80,000

                                                             = $78,000 - $104,000

                                                             = $26,000 adverse variance

The fixed factory overhead volume variance is $26,000 adverse variance

7 0
3 years ago
When bonds are converted into common stock____.
nexus9112 [7]

Answer:

When bonds are converted into common stock____.

a. the market price of the stock and the bonds is ignored when recording the conversion.

Explanation:

This is because the conversion price, which is the price at which the convertible bond is converted into the common stock of the entity, is usually set initially when the conversion ratio is first decided on.  Therefore, the market prices of the stock and the bonds are not taken into account when the conversion recording is being done.

4 0
3 years ago
One of the main implications of the four-drive theory is that: employers should give all employees the same employee benefits. e
Vitek1552 [10]

Answer: Employers should offer employees enough opportunity to keep each of their drives in balance.

Explanation:

The Four-Drive Theory is a way of improving Employee motivation through more ways than just financial incentives. It is believed that all four factors are very integral in the motivation of employees and so managers would do well to implement them to get the best out of their employees.

The Four drives are, <em>Acquire and Achieve</em>, <em>Bond and Belong</em>, <em>Create and Challenge</em> and <em>Define and Defend</em>.

A key recommendation by the proponents of this theory is that Managers should not give their employees too little or too much opportunity to follow each drive but rather give them enough opportunity that they keep each drive balanced with the others.

3 0
3 years ago
Banks and other financial institutions of an economy are in the business of channeling funds from suppliers of financialcapital
ziro4ka [17]

Answer:

C. financial intermediation.

Explanation:

The financial intermediary is a process in which the bank or other financial institutions provides a service of helping to save or borrow money.

A financial intermediary also helps in facilitating the diverse needs of lenders and borrowers

The funds are raised from people who wants to deposit the money.

6 0
3 years ago
Read 2 more answers
OJ's Orange Juice produces orange juice to sell in a competitive market.Given uncertainty in weather patterns, OJ has to determi
sweet-ann [11.9K]

Answer:

c- 1.15 units.

Explanation:

This can be calculated as follows:

Expected price at 10 percent = $5 * 10% = $0.5

Expected price at 90 percent = $2 * 90% = $1.80

Total expected price (EP) = $0.5 + $1.80 = $2.3

Since profit is maximized when EP = MC, we have:

2.3 = 2Q

Q = 2.3 / 2 = 1.15

Therefore, OJ should produce 1.15 units to maximize expected profit. The correction is therefore c- 1.15 units.

7 0
3 years ago
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