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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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Each of the following is an example of corporate governance except : a. Adding non-executives to the board of directors b. Prope
Strike441 [17]

Answer:

C. Ignoring shareholders' rights

Explanation:

Corporate governance refers to the way corporate companies are controlled and directed. The board of directors provides corporate governance in a company. Good corporate governance establishes a  framework that protects shareholders' rights in the company.

Some of the shareholders' rights include

1.  Right to vote

2. Right to transfer ownership

3. Right to dividends

4. Right to inspect corporate documents

The board of directors must ensure fair treatment of all shareholders, including the minority. The board has to put in place mechanisms that address shareholders' concerns and offers redress when their rights are violated.

7 0
3 years ago
A detailed description of the typical consumer in a market segment is a(n) ___.
Debora [2.8K]
This would be a customer profile.
Hope this helps.

3 0
3 years ago
Read 2 more answers
The owner of a bicycle repair shop forecasts revenues of $160,000 a year. Variable costs will be $50,000, and rental costs for t
elena55 [62]

Answer and Explanation:

Revenue                              $160,000

Rental Costs                      $30,000

Variable Costs                      $50,000

Depreciation                      $10,000

Profit before tax              $70,000

Tax(35%)                              $24,500

Net Income                      $45,500

Operating cash flow

a) Dollars in minus dollars out

Revenue ? rental costs ? variable costs ? taxes = $160000 -$30000-$50000-$24,500 = $55,500

b) Adjusted accounting profits

Operating cash flow = Net income + depreciation = $45,500 + $10,000 = $55,500

c) Add back depreciation tax shield

Operating cash flow = [(Revenue ? rental costs ? variable costs) × (1 ? 0.35)] + (depreciation × 0.35)]

= ($160,000-$30000-$50,000)*0.65 + $10,000*0.35 = $55,500

Yes, the above approaches result in the same value for cash flow

4 0
3 years ago
Think about the differences in the two stories about the
Marrrta [24]

Answer:

How does the photo appeal to emotions?

Its shows a worried mother with her children

Why would Lange make up the story of the photo?

Her job was to show suffering

Explanation:

This is the answer for edg2020

8 0
3 years ago
Read 2 more answers
1. Issued 30,000 shares of common stock in exchange for $300,000 in cash.
Svetradugi [14.3K]

Solution :

       Assets          =   Liabilities   +   Paid in capital   +   retained earnings

1.   $ 300,000                                  $ 300,000

2.   $ 30,000             $ 30,000

3.   $ 90,000             $ 90,000

4.   $ 50,000                                                                        $ 50,000

5.   $ 5,000                                                                          $ 5,000

6.   $ 6,000                                                                          $ 6,000

7.   $ 70,000            $ 70,000        

8.      --

9.    $ 1,000                                                                          $ 1,000

Point 4 -- the accounts receivable will increase by $ 120,000 due to the credit sales and the cost of goods sold.

Point 6 -- Adjustments entry at the year end for 3 months from January to March 2022 should be reduced from both assets and retained earnings and the adjusted amount would be $ 4500.

Point 8 -- No impact as the cash is collected against the account receivable and both are assets.

5 0
3 years ago
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