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Marina CMI [18]
3 years ago
11

Harrelson Company manufactures pizza sauce through two production departments: Cooking and Canning. In each process, materials a

nd conversion costs are incurred evenly throughout the process. For the month of April, the work in process accounts show the following debits. Cooking CanningBeginning work in process $0 $4,750Materials 22,800 10,900Labor 9,430 7,230Overhead 33,800 28,100Costs transferred in 55,900Journalize the April transactions.
Business
1 answer:
riadik2000 [5.3K]3 years ago
6 0

Solution:

Instructions Journalize the April transactions:

Date                           Account Titles and Explanation

4/30                              Work in Process—Cooking

                                     Work in Process—Canning

                                                     Raw Materials Inventory

4/30                              Work in Process—Cooking

                                     Work in Process—Canning

                                                              Factory Labor

4/30                             Work in Process—Cooking

                                   Work in Process—Canning

                                                  Manufacturing Overhead

4/30                             Work in Process—Canning

                                    Work in Process—Cooking

Cooking and out the debits

Debit                               Credit          

22,800

10,900                             33,700      

9,400

7,230                              16,630

33,800

28,100                            61,900

55,900                          

                                      55,900

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A/An _______________ fails to meet customers’ minimal requirements, potentially costing you business, even when you perform well
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Explanation:

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Answer:

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Jervis accepts all major bank credit cards, including those issued by Northern Bank (NB), which assesses a 4.5% charge on sales
lukranit [14]

Answer:

The journal entry to be recorded by Jervis on June 28 is shown below:

Explanation:

The journal entry to be recorded by Jervis on June 28 is as:

On June 28

Cash A/c......................................Dr  $5,539

Credit Card expense A/c........Dr $ 261

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Being record the deposit of amount on Sales by Jervis

As the amount is deposited on sale which means cash is coming into the bank, and any increase in cash is debited. So, the cash account is debited. And on the amount expense is charges, the charge is also debited. Therefore, the credit card expense is debited. And the sales is made, so, the sales account is credited.

Working Note:

Credit card expense = Sales amount × Charge

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3 years ago
Perpetuities are also called annuities with an extended or unlimited life. Based on your understanding of perpetuities, answer t
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Answer:

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Explanation:

The perpetuities can becalculate as follow

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the reasoning behind this formula:

C * \frac{1-(1+r)^{-time} }{rate} = PV\\

If we calculate limit whe ntime is infite,

because at more time 1 + r gets closer and closer to 0

we get on the dividend

1 - 0

So we have C x 1/i = C/i

Next part would be why the first cash flow is more relevant than the subsequent cash flow:

\frac{Principal}{(1 + rate)^{time} } = PV

Here if time increases, then the divisor get closer to ∞ so we have

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