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Vadim26 [7]
3 years ago
14

The journal entry to record the use of utilities in a factory could include which two of the following: (You may select more tha

n one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)
A. Debit to Factory Overhead unanswered
B. Credit to Factory Overhead unanswered
C. Debit to Factory Utilities Payable unanswered
D. Credit to Factory Utilities Payable unanswered
E. Credit to Raw Materials unanswered
F. Credit to Factory Wages Payable unanswered
Business
2 answers:
evablogger [386]3 years ago
6 0

Answer:

The correct options are:

A. Debit to Factory Overhead

D. Credit to Factory Utilities Payable

Explanation:

The debit entry of the use of utilities in  a factory would be recorded in factory overhead since cost of utilities is a not a direct factory cost.

However, the corresponding credit would be in the factory utilities payable as an obligation awaiting payment to be made to  the supplier of  the service being enjoyed by the factory in order to run on daily basis

aleksandrvk [35]3 years ago
6 0

Answer:

The correct options are:

A. Debit to Factory Overhead

D. Credit to Factory Utilities Payable

Explanation:

The debit entry of the use of utilities in  a factory would be recorded in factory overhead since cost of utilities is a not a direct factory cost.

However, the corresponding credit would be in the factory utilities payable as an obligation awaiting payment to be made to  the supplier of  the service being enjoyed by the factory in order to run on daily basis

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3. An investor shorts 100 shares when the share price is $20 and closes out the position six months later when the share price i
solniwko [45]

Answer:

$160

Explanation:

Calculation to determine How much does the investor gain or lose

Investor gain =[($20-$18.2)*100 Shares]- ($0.2*100 shares)

Investor gain=($1.8*100 shares)-($0.2*100 shares)

Investor gain=$180-$20

Investor gain=$160

Therefore The amount that the investor gain is $160

7 0
3 years ago
Find the amount of money in a savings account after 5 years if you deposit $400 at 1.5% interest compounded
zimovet [89]

Answer:

3.5%

Explanation:

it maks sence, duh.

7 0
2 years ago
Investors are willing to purchase stocks having high P/E ratios because:
skelet666 [1.2K]

Answer:

D. They expect these shares to have greater growth opportunities.

Explanation: P/E(price to earning) ratio is a ratio used in the stocks and other marketable securities to determine the price of the shares of a particular Company in relationship with the annual net income of the company per share.

A HIGHER PRICE TO EARNING RATIO INDICATES THAT THE COMPANY INVOLVED IS EFFICIENTLY UTILIZING ITS RESOURCES IN ORDER TO GENERATE PROFIT,IT ALSO SHOWS THAT THEIR IS HIGH DEMAND FOR THE COMPANY'S SHARES BECAUSE INVESTORS TRUST IN THE COMPANY'S ABILITY TO GROW AND MAKE PROFIT.

4 0
2 years ago
On November 1, Wright Co. borrowed $20,000 cash from Third Bank by signing a 90-day, 6% interest-bearing note.
Andrews [41]

On January 30, the due date of the note, Wright will record the payment with a debit to Interest Expense in the amount of $100.

Explanation:

  • On November 1, Wright Co. borrowed $20,000 cash from the Third Bank by signing a 90-day, and 6% of interest-bearing note.
  • On December 31, it was recorded an adjusting entry to interest expense of $200.
  • On January 30, which is the due date of the note, Wright will record the payment with a debit to Interest Expense in the amount of $100.
  • Interest expense is an expense which is known as a non-operating expense which is shown on the income statement. It also represents interest payable amount when it is borrowed. For Example,
  • bonds,convertible debt, loans or lines of credit
  • The main difference between the interest expense and the interest paid is that the discount amount and this difference changes the net amount of bond liability.
  • Interest expense is an amount determined by the interest rate on an account.

4 0
3 years ago
On April 1, Townsley Company sold merchandise with a selling price of $10,000 on account to Trout Company, with terms 3/10, n/30
mamaluj [8]

Answer and Explanation:

The journal entry is shown below:

Cash $8,730

Sales Discount ($9,000 × 3%) $270

       To Accounts receivable $9,000 ($10,000 - $1,000)

Here cash and sales discount is debited as it increased the assets and discount while on the other hand the account receivable should be credited as it reduced the assets  

3 0
2 years ago
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