Answer:
1. Cash $5000 Dr
Common Stock (at par) $5000 Cr
2. Cash $4000 Dr
Loan Payable $4000 Cr
3. Supplies $500 Dr
Account Payables $500 Cr
4. Account Receivables $8000 Dr
Service Revenue $8000 Cr
5. Salaries Expense $3900 Dr
Cash $3900 Cr
6. Prepaid Rent $2400 Dr
Cash $2400 Cr
7. Office Furniture $3500 Dr
Account Payable $3500 Cr
8. Cash $1800 Dr
Unearned Service Revenue $1800 Cr
9. Cash $3000 Dr
Account Receivables $3000 Cr
10. Utilities Expense $1200 Dr
Cash $1200 Cr
11. Dividends $1000 Dr
Cash $1000 Cr
12. Certificate of Deposit Receivable $2000 Dr
Cash $2000 Cr
13. Loan Payable $1600 Dr
Cash $1600 Cr
14. Land $2700 Dr
Cash $2700 Cr
15. Interest Expense $400 Dr
Interest Payable $400 Cr
16. Unearned Service Revenue $1800 Dr
Service Revenue $1800 Cr
17. Supplies Expense $400 Dr
Supplies $400 Cr
18. Salaries Expense $2300 Dr
Salaries Payable $2300 Cr
19. Interest Receivable $150 Dr
Interest Revenue $150 Cr
Explanation:
Answer:
See below
Explanation:
1. Purchase price variance
Standard price per pound = $25
Actual price per pound = $28.9
Quantity of aluminium purchased = Closing inventory + Quantity used - Opening inventory
= 34 + 3,470 - 54
= 3,450 pounds
Purchase price variance = (Standard price - Actual price) × Quantity purchased
= ($25 - $28.9) × 3,450
= -$3.9 × 3,450
= $13,455 (U)
2. Usage variance
Standard quantity of Aluminium for actual production
= 935 units × 4 pounds each
= 3,740 pounds
Usage variance = (Standard quantity of material used - Actual quantity used) × Standard price per unit
= (3,740 - 3,470) × $25
= 270 × $25
= $6,750 (F)
3. Direct labor rate variance
= (Standard rate per hour - Actual rate per hour)
× Actual hours for production
= ($40 - $41.9) × 4,400
= -$1.9 × 4,400
= $8,360 (U)
4. Efficiency variance
Standard hours for actual production
= 935 units × 5 per hour
=4,675 hours
Labor efficiency variance = (Standard hours for actual production - Actual hours for actual production) × Standard rate per hour
= (4,675 - 4,400) × $40
= 275 × $40
= $11,000 (F)
The selection technique that will be most helpful in obtaining this information is the REFERENCE CHECK. Reference check in this case involves contacting the applicants previous employers in order to obtaining necessary information about them.
Question Completion:
Choices: Rapid improvements in transportation and communication; the production of goods for a cash market; and the use of inventions and innovations to produce goods for a mass market.
Answer:
The condition that helped to establish the foundation for a market revolution in the United States is:
Rapid improvements in transportation and communication
Explanation:
Rapid improvements in transportation and communication spurred innovations. With innovations, capitalism was born. Innovations needed factories for mass production. In turn, according to American History, "factories and mass production increasingly displaced individual artisans and farmers," who survived at subsistent levels. Large farms grew and produced crops for distant markets, no longer only for family and local markets. Most of the crops were further processed, packaged, preserved, and shipped through cheap transportation systems like the Erie Canal, using steamboats. And the rest, they say, is history.