Answer: monitoring operation
Explanation:
Monitoring operations requires management oversight, employee feedback and customer reviews. It can help provide specific directions for employees, which can lead to improved time management and increased productivity.
Answer:
C. Costs Only
Explanation:
Cost centers are areas in an organization that doesn't add money (profit) directly to the organization, but still cost the organization operation money. They are departments in an organization is which cost are charged. Cost centers don't make profit for the organization directly, but they help in making profit indirectly for the organization. They are areas in a company that incurs cost but in indirectly contribute to income received. Example of a cost center is manufacturing plants. Cost centers have control over costs only.
Answer:
1. Cash (Dr.) $2,000
Common Stock (Cr.) $2,000
2. Accounts Receivable (Dr.) $1,500
Revenue (Cr.) $1,500
3. Cash (Dr.) $1,200
Accounts Receivable (Cr.) $1,200
4. Salaries expense accrued (Dr.) $900
Salaries payable (Cr.) $900
5. Salary Payable (Dr.) $700
Cash (Cr.) $700
6. Dividends paid (Dr.) $100
Cash (Cr.) $100
7.Prepaid Insurance (Dr.) $360
Cash (Cr.) $360
8. Cash (Dr.) $2,880
Unearned revenue (Cr.) $2,880
9. Insurance Expense (Dr.) $290
Prepaid Insurance (Cr.) $290
10. Unearned revenue (Dr.) $2,880
Revenue (Cr.) $2,880.
Explanation:
Smith company has started its business and incurred the transactions. These transactions need to be recorded to charge each and every expense in their respective accounts. The expenses are recorded in the journal entries and then ledger accounts will be formed to summaries all the expenses in their respective account heads.
Positive : Taxation could be used to exclude some expenses that could be putted in the income statement
Negative : Taxation will cut out some part of the company's annual revenue
hope this helps
Answer:
Explanation:
The adjusting entries are shown below:
1. Insurance expense A/c Dr $1,200
To Prepaid insurance A/c $1,200
(Being prepaid insurance is adjusted)
2. Supplies expense A/c Dr $6,200
To supplies A/c $6,200
(Being supplies adjusted)
The supplies at the end of the year is computed below:
= Supplies account balance + purchase of supplies - available supplies
= $5,000 + $2,000 - $800
= $6,200
