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3 years ago

What's the accounting recording process for transactions? Group of answer choices

Business

1 answer:

Zigmanuir [339]3 years ago

8 0

Answer:

3. The transaction Analyze the transaction, enter transaction in a journal, transfer journal information to ledger accounts.

Explanation:

According to accounting recording process for transactions the sequence is as follows:

1. Prepare Transaction

2. Analyze the the transaction

3. Enter the transaction in the journal

4.Transfer it to ledger accounts

5. Prepare trial balance

6. Prepare financial statements

So the option 3 is correct.

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Steve's Cider Shack, Inc. just paid a dividend of $8 per share of common stock. The dollar amount of the dividends is expected t

mamaluj [8]

Answer:

Check the following calculation

Explanation:

Current price : D0(1+g)/(Rs-g)

8 (1+.02)/(.13-.02)

8* 1.02 / .11

= $ 74.18 per share

2) Dividend: 8(1+.02) = 8.16

Annual rate of return : [P1- P0+D ]/P0

[74.18 - 63 + 8.16 ]/63

19.34/63

.3070 or 30.70%

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3 years ago

Rock industries allocates manufacturing overhead based on direct labor cost. any overallocated or underallocated overhead is clo

Butoxors [25]

Answer:

Note: The full question is attached as picture below

Overhead Cost of one Month = Total Overhead Cost / 12 Month

Overhead Cost of one Month = $403,200 / 12 month

Overhead Cost of one Month = $33,600

So, Overhead Chargeable Per Month is $33,600

PARTICULARS AMOUNT

Direct Materials $26,000

Direct Labor $21,000

Manufacturing overhead Applied <u>$33,600</u>

Total Manufacturing Expenses $80,600

Less: Job Work in Process

Direct Materials $3,000

Direct Labor $1,500

Cost of Goods Sold before proration $76,100

of over or under allocated overhead

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2 years ago

4. Mathew is a brand manager for a large chocolate producer. Every six months, Mathew and a team of colleagues review the new pr

stira [4]

Answer:

product screening

Explanation:

The activity being described in this question is part of the product screening. This is a step in the product development process where different product designs are evaluated and analyzed according to the company's goals and criteria and those that meet all of their requirements are chosen for production while the ones that don't are scraped. This is what Mathew is doing by choosing the two product proposals that meet the companies requirements and which they believe will be good to pursue.

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3 years ago

Alaska Mining Co. acquired mineral rights for $67,500,000. The mineral deposit is estimated at 30,000,000 tons. During the curre

Reil [10]

Answer:

a. Determine the amount of depletion expense for the current year.

To find the depletion expense, we use the following formula:

Depletion

Expense = ( Cost - Salvage value / estimated n of units) x n of units extracted

Because we are not given any salvage value in the question, we will assume the salvage value is 0.

Plug the amounts into the formula to find the answer:

Depletion

Expense = (67,500,000 - 0 / 30,000,000) x 4,000,000

= 9,000,000

b. Journalize the adjusting entry on December 31 to recognize the depletion expense.

Account Debit Credit

Depletion Expense $9,000,000

Accumulated Depletion $9,000,000

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3 years ago

When closing a direct request, you should be sure to

REY [17]

Answer:

When closing a direct request, you should be sure to include the times limits involved in your request.

Explanation:

In a business situation, where there is a lot of interaction in the business environment, information needs to be passed in such a way that it is clear and complete in the shortest amount of time. This means that good communication techniques are needed to ensure that the information is delivered and received in a clear and timely manner. One type of a form of communication technique is a direct request. A direct request is a type of communication where the person making the request is in direct contact with the receiver of the request. There are techniques that can be applied to ensure effective delivery of the information. These techniques are;

1. Let it be clear who you are talking to

2. Make the request clear and brief

3. Be sure to ask if there are any clarifications to the request

4. When closing the request be sure to include the time limits for which you want the request to be completed

5. Monitor the progress if the request was completed and correct where necessary

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3 years ago