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xeze [42]
2 years ago
14

Bledsoe Company received $17,000 cash from the issue of stock on January 1, Year 1. During Year 1, Bledsoe earned $8,500 of reve

nue on account. The company collected $6,000 cash from accounts receivable and paid $5,400 cash for operating expenses. Based on this information alone, during Year 1,A. Part 2Which of the following transactions does not involve an accrual?Recording interest earned that will be received in the next period.Recording salary expense incurred but not yet paid.Recording operating expense incurred but not yet paid.Recording the pre-payment of two years' worth of insurance.B. Part 3The recognition of an expense may be accompanied by which of the following?An increase in liabilitiesA decrease in liabilitiesA decrease in revenueAn increase in assetsPart 4The adjusting entry to recognize work completed on unearned revenue involves which of the following?An increase in assets and a decrease in liabilitiesAn increase in liabilities and a decrease in equityA decrease in liabilities and an increase in equityA decrease in assets and a decrease in liabilitiesPart 5Which of the following would cause net income on the accrual basis to be different from (either higher or lower than) "cash provided by operating activities" on the statement of cash flows?Purchased land for cash.Purchased supplies for cash.Paid advertising expense.Paid dividends to stockholders.
Business
1 answer:
Vsevolod [243]2 years ago
7 0

Answer:

Part 2 Which of the following transactions does not involve an accrual?

  • Recording the pre-payment of two years' worth of insurance. THIS IS AN ASSET EXCHANGE TRANSACTION SINCE IT CREATES AN ASSET ACCOUNT, PREPAID INSURANCE, THAT DECREASES AS TIME PASSES

Part 3 The recognition of an expense may be accompanied by which of the following?

  • An increase in liabilities. EXPENSES ARE NOT ALWAYS PAID IMMEDIATELY, FOR EXAMPLE UTILITIES, THEY FORM A SHORT TERM LIABILITY UNTIL PAID.

Part 4 The adjusting entry to recognize work completed on unearned revenue involves which of the following?

  • A decrease in liabilities and an increase in equity. UNEARNED REVENUE IS A LIABILITY ACCOUNT, AND AS THE WORK IS COMPLETED, REVENUE SHOULD INCREASE, THEREFORE EQUITY WILL INCREASE.

Part 5 Which of the following would cause net income on the accrual basis to be different from (either higher or lower than) "cash provided by operating activities" on the statement of cash flows?

  • Paid advertising expense. IF THE COMPANY PAID ADVERTISING EXPENSES ON ACCOUNT.

Explanation:

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1 year ago
Alliance Company’s budgets production of 24,000 units in January and 28,000 units in the February. Each finished unit requires 4
anyanavicka [17]

Answer:

Budgeted material cost for January is $ 256,000

Explanation:

Computations

<u>Raw materials requirement for January</u>

Units to be produced in January                                               24,000 units

Raw material requirement for January at 4 pounds per unit     96,000 pounds

<u>Raw materials requirement for February</u>

Units to be produced in February                                               28,000 units

Raw material requirement for February at 4 pounds per unit    112,000 pounds

40  % of requirement of February to be available end January  <u>44,800 pounds</u>

<u>Purchases for January</u>

Closing Inventory+ Consumption -Opening Inventory

44,800 pounds + 96,000 pounds  - 38,400 pounds =           102,400 pounds

Cost per pound  $ 2,50 per pound  = $ 256,000

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Im pretty sure its C



hope this helps best of luck :)
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