1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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.

You might be interested in
The 100-room fantastic Florida motor lodge accepts only cash for its guests. On Saturday evening 90 of its rooms occupied and to
Anon25 [30]
<h2>Answer:</h2><h2>The motor lodges average daily rate for the particular evening = $1000 per room</h2>

Explanation:

The total number of rooms in fantastic Florida motor lodge = 100

On Saturday evening, the number of rooms occupied = 90

Total cash receipts for the evening = $90000

The daily rate for the evening = ?

To calculate the average daily rate for that particular evening,

Average daily rate = \frac{90000}{90} = $1000 per room

The motor lodges average daily rate for the particular evening = $1000 per room

3 0
3 years ago
Labor market equilibrium is best characterized by Group of answer choices a wage at which all workers are above the poverty leve
Cloud [144]

Answer:

a wage at which the number of people willing to work equals the number of workers firms are willing to hire

Explanation:

Labor market equilibrium is where the demand curve for labour interests the supply curve for labour. At this point, the wage rate is the wage at which the number of people willing to work equals the number of workers firms are willing to hire

Please check the attached image for a graph depicting equilibrium in the labour market

8 0
3 years ago
RAWRRRRRRRRR Whahahaha​
____ [38]

Explanation:

wow

I see you are interested in horror movies

3 0
3 years ago
Splish Company provides the following information about its defined benefit pension plan for the year 2017. Service cost $110,00
kipiarov [429]

Answer: $155,520

Explanation:

Pension Expense = Service Cost - Expected return on plan assets + Prior service cost amortization + Interest cost

Interest Cost

= Interest rate * Projected benefit obligation

= 0.09 * 728,000

= $65,520

Pension Expense = 110,000 - 30,000 + 10,000 + 65,520

= $155,520

3 0
4 years ago
Jane Moreland receives $500 per month from Social Security and her husband, Josh, receives 180 percent of the amount Jane does.
Minchanka [31]

Answer:

Jane's Social security = $535.71

Josh's Social security = $964.29

Explanation:

Jane's Social security = $500

Josh's Social security = $500 x 180%

Josh's Social security = $900

Suppose In order to have $1,500 per month retirement income

Jane's Social security = X

Josh's Social security = X x 180% = 1.8X

Total Income = X + 1.8X

$1,500 = X + 1.8X

$1,500 = 2.8X

$1,500 / 2.8 = X

X = 535.71

So

Jane's Social security = X = $535.71

Josh's Social security = 1.8 x 535.71 = $964.29

5 0
3 years ago
Read 2 more answers
Other questions:
  • Kieran and kurt spend most of their day performing physical labor, aligning materials, and inspecting projects for quality and s
    10·2 answers
  • When michelle meets with the section managers to brief them on the concerns of the city officials, which management role is she
    6·1 answer
  • Savings for You, a discount retail chain, is highly competitive. When entering a new market, Savings for You often cuts prices s
    15·1 answer
  • Spruce Ceramics produces large planters to be used in urban landscaping projects. A special earth clay is used to make the plant
    8·1 answer
  • A project will reduce costs by $38,500 but increase depreciation by $18,300. What is the operating cash flow if the tax rate is
    14·1 answer
  • You have a choice among three options. Option 1: receive $900 immediately. Option 2: receive $1,200 one year from now. Option 3:
    14·1 answer
  • g Batterson Corporation leases its corporate headquarters building. This lease cost is fixed with respect to the company's sales
    10·1 answer
  • Which method are managers using when they use their judgment to classify costs as​ variable
    11·1 answer
  • What is marketing shortly ​
    5·1 answer
  • Why is doing timely reconciliations a key part of internal control activities?<br> It ensures that
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!