Ask question

Ask question

All categories

3 years ago

5

Flying High Manufacturing produces frisbees using a threeminusstep sequential process that includes molding, coloring and finis

hing. When the frisbees and associated costs are transferred from the molding process to the coloring process, which account is debited?

1 answer:

zmey [24]3 years ago

8 0

Answer and Explanation:

The journal entry is shown below:

WIP inventory - Coloring Dr XXXXX

To WIP inventory - molding XXXXX

(Being the transferring from the molding process to the coloring process is recorded)

For recording this we debited the WIP inventory of Coloring as it increased the assets and credited the WIP inventory of Molding as it decreased the assets

You might be interested in

A portfolio consists of 40% in Security A and 60% in Security B. The covariance matrix for A is 144, 225; for B is 225, 81. The

zheka24 [161]

Answer:

A portfolio consists of 40% in Security A and 60% in Security B. The covariance matrix for A is 144, 225; for B is 225, 81. The standard deviation for the portfolio is <u>12.7</u>

Option D is correct

Explanation:

Wa: 0.4

Wb: 0.6

a^2: 144

b^2: 81

Cov(a,b): 225

Portfolio Variance:

: (0.4*0.4*144) + (0.6*0.6*81) + (2*0.4*0.6*225)

: 160.2

Portfolio Standard Deviation: 12.7

6 0

4 years ago

Read 2 more answers

Be-The-One is a motivational consulting business. At the end of its accounting period, December 31, 2017, Be-The-One has assets

Nastasia [14]

Answer:

a. Stockholders' equity as of December 31, 2017: $298,000

b. Stockholders' equity as of December 31, 2018: $197,000

Explanation:

Basing on accounting equation:

Total asset = Liabilities + Owner's (or Stockholders') Equity

Stockholders' Equity = Total asset - Liabilities

a. On December 31, 2017, Be-The-One has assets of $395,000 and liabilities of $97,000.

Stockholders' equity as of December 31, 2017 = $395,000 - $97,000 = $298,000

b. On December 31, 2018

Total asset = $395,000 - $65,000 = $330,000

Liabilities = $97,000 + $36,000 = $133,000

Stockholders' equity as of December 31, 2018 = $330,000 - $133,000 = $197,000

6 0

3 years ago

For each of the following scenarios, classify the type of spending (C,I,G,Xn), describe its impact on gross domestic product (in

alexandr402 [8]

Answer:

A. A new airplane purchased by United Parcel Service.

Investment (in fixed assets), GDP grows

B. The tuition you pay during your first year of college.

Consumption (of services), GDP grows

C. The social security check your grandmother receives.

Not included in GDP, social security checks are considered transfer payments.

D. A new purchase of 50,000 shares of Time/Warner stock.

Not included in GDP, only IPOs are included in GDP

E. A new pair of tennis shoes made in China and purchased by an American shoe store.

Import, GDP decreases since net exports decrease

Explanation:

8 0

4 years ago

Nick has set up his steel factory near a community lake. The waste from his factory is directly thrown in the lake and is causin

Allisa [31]

This is an example of negative environmental impact of human activities. Nick's factory should be closed immediately. He is destroying a very important ecosystem for the community.

8 0

4 years ago

Read 2 more answers

The following data were accumulated for use in reconciling the bank account of Creative Design Co. for August 20Y6: Cash balance

frez [133]

Answer:

bank statement 56,300

Checks outstanding (25,390)

Deposit in transit not recorded by bank<u> 13,325 </u>

Adjusted bank statement 44,235‬

Cash account 42,920

Bank debit memo for service charges (35)

check register error: <u> 1,350 </u>

Adjusted cash account 44,235

Explanation:

The procedure is to adjust for the unknow information and mistake of each party.

The bank is unaware of the check outstanding and deposit in transit

The company thanks to the banbk statement gets information about a mistake in his check register as it was posted for 1,500 when it should be 150.

6 0

4 years ago