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4 years ago

Which of the following applications of the rules of debit and credit is true?

Business

1 answer:

dimulka [17.4K]4 years ago

4 0

Answer:

d. increase Equipment with a debit and the normal balance is a debit

Explanation:

Equipment is an asset account. Asset accounts are increased with a debit, and decreased with a credit. Their normal balance is a debit because assets as a whole are debit accounts.

For example, if a firm has $1,000 worth of equipment, and purchases (with cash) $200 more, the journal entry would be:

Account Debit Credit

Equipment $200

Cash $200

And the new normal balance would be a debit worth of $1,200

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If a balance exists in the temporary moh account at the end of the period, it can be ignored for purposes of preparing the com

Volgvan

The statement "If a balance exists in the temporary MOH account at the end of the period, it can be ignored for purposes of preparing the company’s financial statements" is False.

The manufacturing overhead (MOH) price is the sum of all the oblique expenses which can be incurred while producing a product. Its miles brought to the value of the very last product alongside the direct cloth and direct labor prices.

Manufacturing overhead is a cost listed below the cost of income, in this case, referred to as the price of products synthetic. It's far something of a trap-all term for the expenses needed to run the facilities to manufacture the business's products intended on the market.

Examples of MOH

Electricity or gas is utilized in a manufacturing facility.
Different utilities, inclusive of water and trash provider.
Unexpected repairs.
Supervisors or managers within the factory.
Depreciation of a construction's value.
Rent and assets taxes.
Equipment depreciation.

Learn more about manufacturing overhead here brainly.com/question/13312583

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