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Goryan [66]
3 years ago
9

Larned Corporation recorded the following transactions for the just completed month.

Business
1 answer:
lara [203]3 years ago
4 0

Answer:

1. Dr Raw materials $80,000

Cr Account payable $80,000

2. Dr Work-in-Process $62,000

Dr Manufacturing overhead $9,000

Cr Raw materials $71,000

3. Dr Work-in-Process $101,000

Dr Manufacturing overhead $11,000

Cr Cash $112,000

4. Dr Manufacturing overhead $175,000

Cr Accumulated depreciation $175,000

Explanation:

Preparation of Journal entries

1. Based on the information given we were told that the amount of$80,000 in raw materials were been purchased on account which means that the Journal entry will be :

Dr Raw materials $80,000

Cr Account payable $80,000

(Raw materials purchased on account)

2. Based on the information given we were told that the amount of $71,000 in raw materials were been used in production in which the amount of $62,000 was for used for direct materials while the remaining was for indirect materials which means that the Journal entry will be:

Dr Work-in-Process $62,000

Dr Manufacturing overhead $9,000

(71,000-62,000)

Cr Raw materials $71,000

(raw material charged to production)

3. Based on the information given we were told that the Total labor wages amount of $112,000 were been paid in cash in which the amount of $101,000 was for direct labor while the remaining was for indirect labor which means that the Journal entry will be :

Dr Work-in-Process $101,000

Dr Manufacturing overhead $11,000

(112,000-101,000)

Cr Cash $112,000

(Wages charged to production)

4. Based on the information given we were told that the Depreciation of the amount of $175,000 was incurred on factory equipment which means that the Journal entry will be :

Dr Manufacturing overhead $175,000

Cr Accumulated depreciation $175,000

(Depreciation charged)

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T&P Corporation is a transnational company with four distinct businesses, including a national music and video store chain,
Aleksandr [31]

Answer: Related diversification

Explanation:

The corporate-level strategy that T&P appear to follow is related diversification. Related Diversification is a situation that comes into place when there is an expansion or an addition of a company's existing production line.

In this scenario, we are informed that T&P is in the process of acquiring another company, its major music store rival ReBop Records. This will lead to an expansion of the production line of T&P.

Therefore, the corporate-level strategy that T&P appear to follow is Related diversification.

6 0
3 years ago
Bondholders tend to offset the effects of selfish strategies implemented by shareholders by: Multiple Choice increasing the inte
Zepler [3.9K]

It should be noted that bondholders offset the effects of selfish strategies that are implemented by shareholders by A. increasing the interest rate on monies loaned to the firm.

A bondholder simply means an individual that's owning a bond that was issued by the government or a public company.

The effects of selfish strategies that are implemented by shareholders are offset by increasing the interest rate on monies loaned to the firm.

Learn more about bonds on:

brainly.com/question/25524725

8 0
2 years ago
Rebecca sells her personal scooter for $550. she purchased the scooter for $700 three years ago. she also sells a painting for $
likoan [24]
Rebecca sells her personal scooter = $550
And she purchased three years ago for $700
loss in the selling of scooter = $700 - $550
 = $150
she sell painting for $1200
and he purchased that painting five years ago = $900
profit = $1200 - $900
$300
So $300 - $150  = $150
She still get benefit on selling both things
8 0
3 years ago
You are attending college in the fall and you need to purchase a computer. You must finance the purchase because your parents wi
rodikova [14]

The correct answer is installment credit. The explanation is below.

Installment credit allows you to purchase an item and then pay for it in installments. The reason that this would be the best option for you is that you do not have the money now to make the purchase, but you are able to make smaller monthly payments in order to purchase a computer.

Installment credit is better than revolving credit for new borrowers. Revolving credit would allow you to charge additional purchases on your revolving credit account. The installment plan only finances one item, rather than like a credit card, which is how revolving credit works. You would not choose non-installment credit because this would require you to make this payment all at once in a short period of time. It would not allow you to spread the payments out over time.

3 0
3 years ago
This year, Linda Moore earned a $112,000 salary and $2,200 interest income from a jumbo Certificate of Deposit.She recognized a
olya-2409 [2.1K]

Answer:

a) salary $112,000

Interest income $2,200

Capital gain on stock -

gross income $114,200

capital gains and losses

capital gain 10,500

capital loss 15,300

Net capital loss = 4800

net loss offset on Gross income = 3000

Net Gross income $111,200

capital loss that is carried forward = $1800

b) salary $112,000

Interest income $2,200

Capital gain on stock -

gross income $114,200

CAPITAL LOSSES/GAINS

capital gain 16000

capital loss 15300

Net Capital gain = 700  

ADD taxable capital gains on Gross income

c) salary $112,000

Interest income $2,200

gross income $114,200

capital losses/ gains

capital loss 15300

capital loss 17000

Total Capital LOSS = $ 32300

Set off against income = (3000)

Losses carried forward =$29300

Explanation:

Capital losses can be offset on normal Gross income but only up to $3000 per year

6 0
3 years ago
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