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3 years ago

12

Which account is credited when a job is completed? finished goods inventory. sales revenue. cost of goods sold. work in process

inventory?

1 answer:

Firdavs [7]3 years ago

3 0

Answer:

sales revenue. We are going to debit profit and loss too for cost of labor if need arises.

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Nissley Wedding Fantasy Corporation makes very elaborate wedding cakes to order. The owner of the company has provided the follo

Scrat [10]

Answer:

$62.00

Explanation:

Given data (Twersky Wedding):

Size-related: $1.15/guest

Complexity-related: $28.24/ tier

Order-related: $74.74/order

Guests: 120

Tiers 5

Order 1

Calculations:

Size related ($1.15 per guest × 120 guests): $138.00

Complexity-related ($28.24 per tier × 5 tiers): $141.20

Order-related ($74.74 per order × 1 order): $74.74

Cost of purchased decorations for cake: $54.66

______________________________________________

Total cost $408.60

Charges $470.60

Overall margin = Charges - Total cost = $470.60 - $408.60 = $62.00

Hope this helps!

6 0

3 years ago

Prior period adjustments to financial statements can result from: Multiple Choice Changes in estimates of salvage value. Materia

AveGali [126]

The answer is material math error.

An adjusting entry is essentially a bookkeeping modification that improves the accuracy of the financial statements by reflecting the revenue and spending on an accrual basis, which is typically but not always the case. At the conclusion of the accounting period, adjustments are made. This might happen towards the end of the month or at the end of the year.

Prior period adjustments are errors or mistakes committed in the prior reporting period. These mistakes must be remedied or eliminated by taking suitable corrective action. Prior period items include factual errors, arithmetic errors, and errors in applying accounting rules.

Therefore, material math error is the correct option.

To know more about adjustment to financial statements click here:

brainly.com/question/24178504

#SPJ4

4 0

2 years ago

The mission of the Securities and Exchange Commission (SEC) is to: a. PROTECT SHAREHOLDERS' RIGHTS BY MAKING SURE THAT STOCK MAR

lilavasa [31]

Answer:

b. PROTECT SHAREHOLDERS' RIGHTS BY MAKING SURE THAT STOCK MARKETS ARE RUN FAIRLY

Explanation:

The U.S (SEC) securities and exchange commission is an independent agency of the American government and is responsible for enforcing the federal security laws and rules and regulated the industry.

The SEC was created by the securities exchange act of 1934, mission as to protect the investors, maintain fair and orderly, and have an efficient market.

<u>Publishes quarterly and semi quarterly reports form the companies that are crucial for investors to make a sound decision when investing in the capital markets.</u>

8 0

3 years ago

What are welfare payments or consumer studies?

klio [65]

Welfare payments are governments subsidies that provide financial aid to those who cannot care for themselves. Some are meant to be temporary aid like TANF, SNAP, and day care programs. Others like programs for the aged, blind, and disabled may be given for the remainder of their lives.

Hope this helps.

7 0

3 years ago

Using the following information: 12/31/17 Accounts receivable $526000 Allowance (35700 ) Cash realizable value $490300 During 20

yawa3891 [41]

Answer:

The change in the cash realizable value from the balance 12/31/17 to 12/31/18 was $37,840 increase.

Explanation:

Cash realizable value of accounts receivable is simply the amount that is deemed recoverable after factoring the portion that is uncollectible.

The effects of the transactions during the year are as follows:

Sales on account:

Debit Accounts receivable $145,400

Credit Sales revenue $145,400

<em>(To recognize the sales on account)</em>

Collections on account:

Debit Cash $100,000

Credit Accounts receivable $100,000

<em>(To recognize collections on account)</em>

Write-off:

Debit Allowance for doubtful accounts $3,960

Credit Accounts receivable $3,960

<em>(To recognize write-off of outstanding accounts receivable)</em>

Therefore, the effects of the foregoing journals on Accounts receivable are: $526,000 + $145,400 - $100,000 - $3,960 = $567,440.

As at 12/31/18, cash realizable value would be $567,440 - $39,300 = $528,140. The change in the cash realizable value from the balance at 12/31/17 to 12/31/18 was therefore $528,140 - $490,300 = $37,840 (increase).

7 0

3 years ago