Harmon recently quit his job that he had worked at for the past 10 years in

Golden Eagle Company prepares monthly financial statements for its bank. The November 30 adjusted trial balance includes the fol

lilavasa [31]

Answer:

Given Below

Explanation:

<em><u>Golden Eagle Company</u></em>

<em><u>General Journal </u></em>

<em><u>Adjusting Entries December 31st </u></em>

Sr. No Particulars Debit Credit

1. Supplies Expense $ 1000 Dr.

Supplies Account $ 1000 Cr.

The supplies that were at the end of Nov have been used and new supplies purchased are still on hand.

2. Insurance Expense $ 1000 Dr.

Prepaid Insurance 1,000 Cr.

Insurance cost is $1,000 per month. Insurance of $1000 expired during the month of December.

3. Salaries Expense $ 14000 Dr.

Salaries Payable $ 14000 Cr.

Salaries for December owed for December are $14,000.

4. Unearned Revenue $ 500 Dr.

Revenue Earned $ 500 Cr.

Defered Revenue earned at the end of December.

3 0

3 years ago

At a price of $5, Sam buys 10 units of a product; when the price increases to $6, Sam buys 8 units. Martha says Sam's demand has

forsale [732]

Based on the information given, Martha is incorrect. Sam's quantity demand has decreased.

<h3>What is demand?</h3>

Demand means the quantity of a good and services that consumers are willing and able to buy at various prices during a given period of time

In this case, Martha is incorrect. This is because Sam's quantity demanded has decreased, and his demand has not changed.

Learn more about demand on:

brainly.com/question/1245771

5 0

2 years ago

Parker Corporation has a job-order costing system and uses a predetermined overhead rate based on direct labor-hours to apply ma

AnnyKZ [126]

Answer:

Unitary cost= $62.5

Explanation:

Giving the following information:

Predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. At the beginning of the year, manufacturing overhead and direct labor-hours for the year were estimated at $50,000 and 20,000 hours.

Materials costs on the job totaled $4,000 and labor costs totaled $1,500 at $5 per hour.

First, we need to determine the allocated MOH:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 50000/20000= $2.5 per direct labor hour

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base= 2.5* (1500/5)= $750

Total cost= 4000 + 1500 + 750= $6,250

Unitary cost= 6250/100= $62.5

3 0

3 years ago

If a company rents a warehouse, it must pay rent for the warehouse whether it is full of inventory or completely vacant. Other e

Aleksandr [31]

As the output is increased or decreased, these (B) fixed costs remain unchanged.

<h3>What are fixed costs?</h3>

Fixed costs, also known as indirect costs or overhead costs in accounting and economics, are corporate expenses that are independent of the volume of goods or services generated by the business.
They are usually recurrent, such as monthly interest or rent.
These expenses are frequently capital expenses.

<h3>Explanation -</h3>

Dependent refers to a variable that changes when other factors change.
Fixed cost refers to a cost that doesn't change when the number of goods produced increases or decreases.
Opportunity cost refers to the benefit that you would have received from the option that was not chosen.
Marginal cost refers to the change in the cost when you produce an additional unit.
According to this definition and as the statement refers to a cost that doesn't change.

Therefore, as the output is increased or decreased, these (B) fixed costs remain unchanged.

Know more about fixed costs here:

brainly.com/question/3636923

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Complete question:

If a company rents a warehouse, it must pay rent for the warehouse whether it is full of inventory or completely vacant. Other examples include executives' salaries, interest expenses, depreciation, and insurance expenses. As the output is increased or decreased, these _______ costs remain unchanged.

a. dependent

b. fixed

c. opportunity

d. marginal

5 0

2 years ago

Tee Time Golf Resort plans to use famous Kauri wood from New Zealand for parts of the interior of the magnificent clubhouse at i

LekaFEV [45]

Answer: C. it's a good time to buy the wood.

Explanation:

$500 = 738NZ dollars, therefore 738 NZ dollar ÷ $500 = 1.476NZ dollar

The current exchange rate is $1 = 1.476NZ dollar

10 foot slab costs $5000, Tee Golf Resort will pay $ 3387.53 ($5000/1.476NZ)

if they import wood from New Zealand. Tee Golf Resort will pay less than $5000 if they import Wood from New Zealand at the current exchange rate. This is a Good time for them to import woods

5 0

3 years ago