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meriva
3 years ago
14

A company that uses a job order costing system would make the following entry to record the flow of direct materials into produc

tion:
Business
1 answer:
jonny [76]3 years ago
7 0

Answer:

debit Work in Process Inventory, credit Raw Materials Inventory.

Explanation:

For reasons of accounting principles, the physical inventory must have priority to that of the continuous method; since the first constitutes information of greater objectivity and can therefore serve as a reference point to determine if there are missing or surpluses in the inventories, which after being well purified, can be adjusted through the cost of sale account and the inventory account accordingly if the permanent inventory turns out to be greater than the physical one, the cost of sale account must be <u>debited</u> for the amount of the difference, while the inventory account will receive a <u>credit</u> for the same value.

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ritical analysis Q10 Suppose that unexpectedly rapid growth in real income abroad leads to a sharp increase in the demand for Am
mash [69]

Answer:

Output and employment will increase exerting modest upward pressure on the price level.      

Explanation

In simple words, the increased demands for the good would work as an incentive for the producer to produce more and they can also lower their cost of production by producing in mass which will further lead to economies of scale.

More production means more requirement of workers which will eventually lead to more employment opportunities in the country. However, this increase   would lead to modest increase in prices due to more purchaser power in the country.

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3 years ago
The stockholders' equity section of lester company's balance sheet follows:
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Everything  the includes law .........
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3 years ago
Danny's workplace just started casual Fridays. What can Danny now wear to work on Fridays?
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A black suit and tie
8 0
3 years ago
Allegheny Company ended Year 1 with balances in Accounts Receivable and Allowance for Doubtful Accounts of $74,000 and $3,900, r
Nadya [2.5K]

Answer:

The 9,300 should Allegheny report as Uncollectible Accounts Expense on its Year 2 income statement

Explanation:

The non-collectible accounts expenses on its Year 2 income statement is shown below:

= Ending balance + write off balance - opening balance

= $6,000 + $7,200 - $3,900

=$9,300

The accounts receivable is not to be considered because we have to find out the uncollectible accounts expense, so the account receivable balance should not be taken in the computation part.

Hence, the 9,300 should Allegheny report as Uncollectible Accounts Expense on its Year 2 income statement

5 0
3 years ago
Feiler Corporation has total current assets of $493,000, total current liabilities of $357,000, total stockholders' equity of $1
Citrus2011 [14]

Answer:

The answer is C.

Explanation:

Current ratio shows the liquidity of of a company. This ratio tells us how a company or business is able to meet its short obligation.

This ration is very important to lenders because they use it to know of you will be able to meet the interest payment and principal

The formula for current ratio is:

Current assets/current liabilities

Total current assets is $493,000, Total current liabilities is $357,000

= $493,000/$357,000

=1.38

3 0
3 years ago
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