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3 years ago

The following expenditures relating to plant assets were made by Prather Company during the first 2 months of 2020.

Business

1 answer:

Nina [5.8K]3 years ago

8 0

Answer:

1) Tax Payable

2) Property Plant and Equipment Asset

3) Motor Vehicle Asset

4) Property Plant and Equipment Asset

5) Advertising and Promotion Expense

6) Property Plant and Equipment Asset

7) Insurance Prepaid Asset

8) Motor Vehicle Asset

The Historical Cost of Plant Asset consists of Actual Purchase price and all Incidental Cost required to bring the asset to the point of use .

Explanation:

1) Already Accrued

2) The insurance is required to bring in the machinery

3) Sales taxes on Fixed assets are capitalised

4) The improvement is necessary in material

5) Advertising Expense not necessary for the functioning of the delivery truck

6) Fixed Asset Purchase

7) Insurance Prepayment not necessary for the functioning of the delivery truck

8) The expense is necessary for the functioning of the delivery truck

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Naily [24]

Answer:

Answer is option A i.e. hybrid combination.

Explanation:

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3 years ago

The Quaint Quilt produces and sells handmade quilts. Variable manufacturing costs total $140 per quilt. Fixed manufacturing over

alexgriva [62]

The total variable cost reported on Quaint Quilt's variable costing income statement is: $124,020

Calculation to determine the total variable costing income statement

Using this formula

Variable costing income statement=(Variable manufacturing costs+Variable selling and administrative costs )×Sales

Let plug in the formula

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Variable costing income statement=$159×780 quilts sold

Variable costing income statement=$124,020

Inconclusion The total variable cost reported on Quaint Quilt's variable costing income statement is: $124,020.

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brainly.com/question/13214374

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2 years ago

Storm Concert Promotions Valle Home Builders Actual indirect materials costs$12,400 $7,000 Actual indirect labor costs 55,900 46

Minchanka [31]

Answer and Explanation:

Storm Concert Promotions

The computation of overhead is shown below:-

Factory Overhead-Storm

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Indirect Labor $55,900

Other overhead

costs $16,000

Overapplied overhead $7,300

The Journal entry is shown below:-

Factory overhead Dr, $ 7,300

To Cost of goods sold $7,300

(Being cost of goods sold is recorded)

Valle Home Builders

The computation of overhead is shown below:-

Factory Overhead-Value home builders

Indirect materials $7,000 Applied overhead 98,300

Indirect Labor $46,900

Other overhead

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Overapplied overhead $4,500

Factory overhead Dr, $ 4,500

To Cost of goods sold $4,500

(Being cost of goods sold is recorded)

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3 years ago

If you were to start a business delivering documents, you might need to purchase cell phones, bicycles, desks, and chairs. a. Th

Alex Ar [27]

Answer:

The answer is B.

Explanation:

Capital is what is used to start a business. It is what the owner's contribution in the business. In advanced class, it is called stock or equity. Capital is usually from the owner's savings. But if this money is borrowed either from an individual or a bank, the person is a borrower while the other party is the lender.

Option A is incorrect because money raised from someone makes the person borrowing a borrower and not a saver.

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3 years ago