Answer:
Rice Co.
Journal Entries:
April 5:
Debit Inventory $28,000
Credit Accounts Payable (Jax Company) $28,000
To record the purchase of goods, terms 2/10, n/30.
April 6:
Debit Freight-in Expense $700
Credit Cash Account $700
To record the payment of freight costs for goods purchased from Jax Company.
April 7:
Debit Equipment $30,000
Credit Accounts Payable $30,000
To record the purchase of equipment on account.
April 8:
Debit Accounts Payable (Jax Company) $3,600
Credit Inventory $3,600
To record the return of goods to Jax Company.
April 15:
Debit Accounts Payable (Jax Company) $24,400
Credit Cash Discount $488
Credit Cash Account 23,912
To record the full settlement on account.
Explanation:
Rice Co's journal entries are made on a daily basis as transactions occur. They show the accounts to be debited and the ones to be credited in the general ledger. Journal entries are the initial records of transactions made by the company in its accounting system.
Answer: The cover letter gives you the opportunity to elaborate on your story before getting the chance to interview with the hiring manager.
Explanation: While you get the chance to exhibit your qualifications for the job and explain what makes you a good fit, an employer gets to know more about your current situation.
Answer: The options are given below:
A. Use of a single predetermined overhead rate.
B. Use of direct labor hours or direct labor cost to assign overhead.
C. Assumption of correlation between direct labor and incurrence of overhead cost.
D. Use of multiple cost drivers to allocate overhead.
The correct option is D.
Explanation: The traditional costing system refers to the allocation of factory overhead to products, and this is based on the total amount of production resources that have been consumed.
When using the traditional costing system, the overhead is usually applied based on either the total number of direct labor hours consumed or the total number of machine hours used.
The traditional costing systems treat overhead costs as a single pool of indirect costs. Traditional costing is optimal when indirect costs are low when in comparison with direct costs.
Answer:
$106.02
Explanation:
Div₀ - Div₉ = 0
Div₁₀ = $10 and then will grow by 6% forever
we must first determine the terminal value for year 9 using the dividend growth model:
P₉ = Div₁₀ / (Re - g) = $10 / (10% - 6%) = $10 / 4% = $250
now we shall discount this to present day value:
P₀ = $250 / (1 + 10%)⁹ = $250 / 2.3579 = $106.02
Answer:
Here the quantity demanded, that is, vacancy = 1,200 While the total number of applications for these 1,200 positions was 4,500.
Explanation:
If Amazon increased wages to $16 per hour, what do you predict will happen to that.
