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irga5000 [103]
3 years ago
11

Materials purchased on account during the month amounted to $180,000. Materials requisitioned and placed in production totaled $

165,000. a. Record the transaction on the day the materials were bought. b. Record the transaction on the day the materials were requisitioned.
Business
1 answer:
Alika [10]3 years ago
6 0

Answer:

Part a. Record the transaction on the day the materials were bought.

Materials Account $180,000 (debit)

Cash $180,000 (credit)

Part b. Record the transaction on the day the materials were requisitioned

Work In Progress $165,000 (debit)

Materials Account $165,000 (credit)

Explanation:

Part a. Record the transaction on the day the materials were bought.

Recognise the Assets of Materials Purchased and Derecognise Cash to depict ouflow of economic benefits

Part b. Record the transaction on the day the materials were requisitioned

De-recognise the Materials applied in Production Process and Recognise the cost in Work In Progress Account

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BartSMP [9]

Answer:

$197,263.7

Explanation:

The current value can be found by use of the compound interest formula. Since the asset has been losing value at 6 % per year,

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The formula for compound interest is  FV = PV × (1+r)^n

in this case

FV= current value

PV= $237,500

r= -6% or -0.06%

n= 3 years

Fv= $237, 500 x ( 1 + (-0.06)^3

Fv=$237,500 x (0.94)^3

Fv= $237,500 x 0.830584

Fv= $197,263.7

The current value =$197,263.7

5 0
3 years ago
imagine that a new study reveals that onion consumption is correlated with cancer. this shift in popularity will likely cause th
Step2247 [10]

If there is a study that shows that onion causes cancer it would cause the new demand curve to go lower on its points.

<h3>How is the demand for onion going to be affected.</h3>

Given that it has been established that onion consumption leads to cancer. There would be a great reduction in the number of sales for onion.

People would want to stop consuming the product so that they would nit be affected by the disease.

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7 0
2 years ago
The Crash Davis Driving School has an ROE of 13.3 percent and a payout ratio of 32 percent. What is its sustainable growth rate?
Nikolay [14]

Answer:

sustainable growth rate for Crash Davis Driving School:  9.044%

Explanation:

growth = ROE \times (1 - $dividends payout ratio)

0.133 x (1-0.32) = 0.09044

The firm will grow as the amount that isn't paid as dividends increase the equity through retained earnings. Because both, common sense the acounting equaition if the earnings are retained they will be investment and assets will increase:

Assuming the company thakes no debt for the period then:

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4 years ago
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dimaraw [331]

Answer:

(C) Acquisition cost

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The correct word for the given statement is acquisition cost

So option (c) is correct option

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4 0
4 years ago
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