Answer:
The journal entries are as follows:
(i) On March 31,
Finished Goods A/c Dr. $56,400
To Work in Process $56,400
(To record the completion of the two jobs)
(ii) On March 31,
Cash A/c Dr. $38,000
To sales $38,000
(To record the sale Job 10)
(iii) On March 31,
Cost of goods sold A/c Dr. $21,400
To finished goods $21,400
(To record the cost of the job sold)
Answer:
He must have a skratta du flörlar du in his album cover
Explanation:
You laugh, you lose
Answer:
The best transfer price to avoid transfer price problems is $2,310
Explanation:
Transfer Price = Variable cost + Fixed Fee
Variable Cost = Direct Material + Direct labor + Variable Overhead
= 600 + 1,200 + 300
= 2,100
Transfer Price = Variable cost + Fixed Fee
= 2,100 + 210
= $2,310
Therefore, The best transfer price to avoid transfer price problems is $2,310
Answer:
Insurance $4,800 (debit)
prepaid insurance $4,800 (credit)
Explanation:
In order to find out adjusting entries. firstly, we need to calculate the difference between prepaid insurance account and Insurance account.
That could be done by subtracting $3,550 from $8,350.
Difference = 8350-3550= 4800
Answer:
I agree with Mike because pure risks involve only possible losses. Since he owns his house, the possibility of it burning down would represent only a loss to him.
But if he buys insurance, he will pay an insurance premium which means that if the house burns down, the company will lose money, but if the hose doesn't burn down, the insurance company will make a profit. This represents speculative risk because the possibility of a gain and a loss exist.
