Question Completion:
Describe the accounting treatment of Supplies Expenses.
Answer:
Supplies Expenses are debited while the Supplies account is credited with the supplies expenses.
Explanation:
This accounting treatment of Supplies Expenses reduces the balance of the Supplies account by the amount of supplies used during the period. Thus, what is left in the Supplies account is the cost of the unused supplies at the end of the accounting period. The treatment also accords with the accrual concept, which requires that expenses are matched to the revenues that they generate in the period.
Answer:
The total cost per unit using the weighted average method would be:
$15,97
Explanation:
Materials Conversion Costs
Begining $ 14,000 $ 8,000
APRIL $ 72,000 $ 80,000
TOTAL $ 86,000 $ 88,000
Units 8,000 8,000
100% 50%
WIP 4,000 2,000
TOTAL 12,000 10,000
USD/Unit 7,17 8,80 $15,97
Answer:
$6,718,553
Explanation:
Working capital is the net of current assets (Inventory, account receivables, Cash etc) and current liabilities (Accounts payable, short term notes payable etc).
It is a financial measure that gives insight into how liquid a company is. .
As such, the company's working capital
= $1,235,455 - $4,159,357 + $7,184,800 + $3,472,300 - $1,136,100 + $121,455
( the signs are positive for assets and negative for liabilities)
= $6,718,553
Answer:
$6,775
Explanation:
The computation of the depreciation expense using the straight line method is shown below:
Straight-line method:
= (Original cost - residual value) ÷ (useful life)
= ($30,800 - $3,700) ÷ (4 years)
= ($27,100) ÷ (4 years)
= $6,775
In this method, the depreciation is same for all the remaining useful life
Therefore, in the first and second year the same depreciation expense is to be charged i.e $6,775
Answer:
True
Explanation:
Job Specification is comprehensive set statement to demonstrate the pre-requisite of any job for which any hiring is to be done. Job specification includes information about job designation, location , roles and responsibilities, qualifications, skill set required, experience in terms of number of years, job objective and other necessary details specific to the job.
The objective of job specification is
- To ensure that people with only right skill apply for job
- It makes easier to filter out candidates based on the mapping of requirement and candidate profile
- It makes easier for hired person to understand his responsibilities and get molded it into the role easily.
Since the problem says that Career builder has posted for sales management position which includes information on number years of experience and educational qualification, which is part of job specification and hence the statement is true.
