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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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Toan Inc. uses a job-order costing system in which any underapplied or overapplied overhead is closed to cost of goods sold at t

Lerok [7]

Answer:

$129,000

Explanation:

The computation of the unadjsuted cost of goods sold is shown below:

Before that we need to compute the total cost and cost per unit which are as follows

Total cost

= Beginning balance + Direct materials + Direct labor + Manufacturing overhead cost applied

= $66,700 + $494,500 + $158,700 + $269,100

= $989,000

And, Units completed is 23,000 units

So, the cost per unit is

= Total cost ÷ Number of units completed

= $989,000 ÷ 23,000 units

= $43

And, the number of units sold is 3,000 units

So, the cost of good sold unadjusted is

= Number of units sold × cost per unit

= 3,000 units × $43

= $129,000

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I think it $1 per unit

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2 years ago

Periodically, merrill lynch customers are asked to evaluate merrill lynch financial consultants and services. Higher ratings on

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a) Null hypothesis ( $\mu _{a} \leq \mu _{b}$ ) for merrill lynch customers are given as

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<h3>What is null hypothesis?</h3>

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Know more about Null hypothesis

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2 years ago

You are attending college in the fall and you need to purchase a computer. You must finance the purchase because your parents wi

rodikova [14]

The correct answer is installment credit. The explanation is below.

Installment credit allows you to purchase an item and then pay for it in installments. The reason that this would be the best option for you is that you do not have the money now to make the purchase, but you are able to make smaller monthly payments in order to purchase a computer.

Installment credit is better than revolving credit for new borrowers. Revolving credit would allow you to charge additional purchases on your revolving credit account. The installment plan only finances one item, rather than like a credit card, which is how revolving credit works. You would not choose non-installment credit because this would require you to make this payment all at once in a short period of time. It would not allow you to spread the payments out over time.

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3 years ago

Chabot Company had the following results last year: net operating income, $2,160; turnover, 5; and return on investment 18%. Cha

Irina18 [472]

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2 years ago