Answer:
b) adjusting entry will require a credit to Cost of Goods Sold.
c) Factory Overhead account has a credit balance of $300 before adjusting.
Explanation:
Given that
Actual Overhead = $1200 i.e. debited to the factory overhead account
And,
Applied overhead = $1500 i.e. Credited to the factory overhead account
So, the Factory overhead account has a credit balance of $300 prior adjusting
Also the applied overhead is higher than the actual one so the adjusting entry would needed to credit to the cost of goods sold
<span>The answer is A.$0
Since, the Apexoria Bank is not a member of FDIC, no money of Diana is FDIC protected.</span>
In a purchases journal, the total of the <u>Office Supplies DR</u> column is not posted to the general ledger.
Office supplies cost is the amount of administrative materials charged to price in a reporting time period. Those items are charged to expense while used; or, if the value of supplies is immaterial, it's far charged to expense whilst the cost is initially incurred.
Office expenses, like workplace elements, are usually recorded as a fee in preference to an asset. Office prices are often intangible and consist of things including janitorial offerings, software subscriptions, office renovation, or even website maintenance.
A journal entry is an act of retaining or making facts of any transactions both financial or non-economic. Transactions are indexed in an accounting journal that indicates a corporation's debit and credit score balances. The journal entry can include numerous recordings, each of that's either a debit or a credit.
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Answer:
Part 1: Valerie takes home $3750 per month
Part 2: $750
Part 3: $515
Part 4: 20% of Valerie's monthly take-home pay
Part 5: No
Explanation:
Part 1:
Monthly take-home pay = yearly take-home pay/12 = $45,000/12 = $3750
Part 2: 20% of Valerie's monthly take-home pay = 20/100 × $3750 = $759
Part 3
Total expenditure every month = car loan payment + credit card payment = $405 + $110 = $515
Part 4
20% of Valerie's monthly take-home pay is $750
Total expenditure every month towards paying her debt is $515
20% of Valerie's monthly take-home pay is greater than her monthly expenditure in paying her debt
Part 5
She is not in danger of credit overload because her monthly take-home pay ($3750) far outweighs her monthly total expenditure ($515)