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Jlenok [28]
3 years ago
12

In a process costing system, the application of factory overhead usually would be recorded as an increase in: (CPA adapted) A. F

inished goods inventory controlB. Factory overhead controlC. Cost of goods soldD. Work-in-process inventory control
Business
1 answer:
otez555 [7]3 years ago
7 0

Answer: Factory overhead control

Explanation: Factory overhead is the account where the amount of cost incurred while manufacturing a product is recorded and no direct labour or material is recorded. When the manufactured goods are finished and produced they are recorded as expenses when the goods are sold as manufactured finished products.

All the expenses related to the factory are included in this account such as rent, utility, electricity, supplies, tools. Factory overhead is known as manufacturing burden or expenses.  

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Prior to liquidating their partnership, Joyce and Xi had capital accounts of $50,000 and $105,000, respectively. Prior to liquid
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Answer:

Joyce cash distribution   = $262500

Explanation:

given data

Joyce capital = $50,000

Xi capital = $105,000

liabilities = $10,000

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to find out

we consider Determine the amount received by Joyce as a final distribution from liquidation of the partnership

solution

we carrying value of non-cash asset prior to liquidation is

value of non-cash asset prior to liquidation = $50,0000 + $105,000 + $10,000

value of non-cash asset prior to liquidation =  $615000

so Profit on Liquidation  is = value of non-cash asset prior to liquidation - Sale of Asset

Profit on Liquidation  is = $615000 - $190,000

Profit on Liquidation  is = $ 425000

and here since

Joyce and Xi share income and losses equally

so Joyce share of profit will be

Joyce share of profit  = 50% × $ 425000

Joyce share of profit  = $212500

and

so Joyce cash distribution  will be

Joyce cash distribution  = Joyce share of profit + Joyce capital

Joyce cash distribution   = $212500 + $50,000

Joyce cash distribution   = $262500

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How do I become a business man?​
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