I think because in a mutual they both gain and invest but on their own its too much
Answer:
See explanation section
Explanation:
Journal entry to record R. Selleck's Investment is as follows:
Debit Cash $10,000
Debit Office Equipment $5,000
Credit Capital, R. Selleck $15,000
Since he provides cash and office equipment, both the investment will be considered as capital of R. Selleck. Since he does not take any loan to provide money to the partnership business, no entry is made for loan.
Sloan has adopted the “punishment” form of reinforcement towards his employees.
<u>Explanation:</u>
Punishment at the workplace means when new adopted changes or behavior lead to negative consequences at the workplace.
Sloan’s method of awarding only when the employees perform well is a case of the same. His action of deducting the employee's salary by 20 percent too would not positively encourage them to perform well, but lead to dissatisfaction and contempt towards him.
Answer:
B) Debit work in process inventory $172,000
Credit Factory Wages Payable $172,000
Explanation:
Option A is not correct answer as the question is to record the production activities for direct labor usage instead of recording production and payment of wages. In option A, Wages payable is debited and cash is credited e.g. payment of wages is recorded and first step of recording production is missed.
Option B is the right answer as it appropriately records production activity for the month of June by debiting work in process inventory and crediting factory wages payable.
Option C is not correct answer as it is directly debiting cost of goods sold, which is debited at the time of sale of goods and goods are transferred from finished inventory to cost of goods sold.
Option D is not correct answer as it is directly crediting cash instead of recording payable. At the end of the month, production activities are recorded and payment entry is recorded at the time of payment depending on the Company policy to pay.
