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AysviL [449]
3 years ago
8

Oriole Company signed a long-term noncancelable purchase commitment with a major supplier to purchase raw materials in 2018 at a

cost of $919,600. At December 31, 2018, the raw materials to be purchased have a market value of $869,100. Prepare any necessary December 31, 2018 entry. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.)
Date

Account Titles and Explanation


Debit


Credit


Dec. 31
Business
1 answer:
Nookie1986 [14]3 years ago
8 0

Answer:

Dec 31 2018

Debit. Stock $919,600

Credit. Supplier $919,600

Narration. Records of stock purchase under non cancelable agreement with supplier.

Dec 31 2018

Debit profit or loss 50,500

Credit. Stock. 50,500

Loss on carrying value of stock compare to realisable value.

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Product or Service Costing influences: Group of answer choices production managers making manufacturing decisions. all of the ot
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Answer: marketing managers making pricing decisions.

Explanation:

Management's product and service choices and decisions can influence the cost behavior. The product design, location of plant, technology used in developing a product, product quality, features of product, distribution of product, profit margins, incentives, labor daily wages, and other factors all can influence the cost and pricing decisions of the product.

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3 years ago
Monetarists believe that changes in the supply of money Question 24 options: do not affect aggregate demand. affect aggregate de
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Answer: affect aggregate demand directly.

Explanation:

Monetarists believe that money supply is very important in determining the economic growth of an economy and this is why they advocate for monetary authorities to get involved in the monetary system in order to guide the growth of the economy.

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5 0
3 years ago
Describe the parliamentary meeting procedure and its purpose.
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Answer: Only one issue is discussed at a time

Members have equal and basic rights (vote, oppose and heard)

Minority rights are protected

Explanation:

The parliamentary meeting procedure is as follows;

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- Members have equal and basic rights (vote, oppose and heard)

- Minority rights are protected

- The chairman authorizes anyone to speak

- The chairperson is impartial.

- Votes decides decisions

- Every member on the floor can contribute

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6 0
3 years ago
Paying attention to the trends that might impact your future career is called
Mazyrski [523]
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5 0
3 years ago
When p = $5, the quantity demanded of a good is 30 units, and the quantity supplied of the good is 50 units. For every $1 decrea
Neporo4naja [7]

Answer: Equilibrium price is $3 and equilibrium quantity is 40 units.

Explanation:

Demand equation is given by,

Qd= a-bP When P=$5, Qd=30 30 = a – 5b Change in Quantity demanded =  Change in a – (b Change in P) 5 = 0 – b(-1) b=5 So, a = 55

Therefore the demand equation is given by, Qd= 55 – 5P

Supply equation is given by

Qs= c + dP When P=$5, Qs = 50 50 = c + 5d Change in Quantity supplied = Change in c + d(Change in P) -5 = 0 + d(-1) d=5 So, c=25

Therefore, the supply equation is given by,  

Qs= 25 + 5P

Equilibrium is given by

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8 0
3 years ago
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