Answer:
Option (b) is correct.
Explanation:
Given that,
Estimated total fixed manufacturing overhead = $121,000
Estimated direct labor-hours for the period = 10,000
Actual total fixed manufacturing overhead = $113,000
Actual total direct labor-hours during the period = 10,900
Predetermined overhead rate:
= Estimated total fixed manufacturing overhead ÷ Estimated direct labor hours
= $121,000 ÷ 10,000
= $12.10
Therefore, the predetermined overhead rate is closest to $12.10.
Answer:
The correct answer is:
Government should either raise its <u>expenditures</u> or cut<u> taxes</u>. I believe the government spending multiplier is <u>greater</u> than the tax multiplier, so I favor <u>this policy</u>.
Explanation:
To begin with, an <em>"expansionary fiscal policy" </em>represents the tool that a government has in order to give response to a recessionary context in where the economy is falling down by decreasing its production. That is why, that in this type of policy the actions that are to be taken comprehends the reduction of taxes that the public sector collects from the private sector and also to increase the public expenditures that the government has with the purpose to estimulate the demand and offer of goods.
Answer:
Sole proprietorship.
Explanation:
A sole proprietorship, otherwise called the sole trader, is a kind of enterprise that is possessed and run by one individual and in which there is no lawful differentiation between the proprietor and the business entity.
Answer:
Bad debt expense A/c Dr $4,900
To Allowance for doubtful debts $4,900
(Being bad debt expense is recorded)
Explanation:
The journal entry is shown below;
Bad debt expense A/c Dr $4,900
To Allowance for doubtful debts $4,900
(Being bad debt expense is recorded)
The computation of the bad debt expense is shown below:
= Net Credit sales × estimated percentage given - credit balance of allowance for doubtful debts
= $920,000 × 0.6% - $620
= $5,520 - $620
= $4,900
Answer:
Debit Cash $1,000 and credit Notes Receivable $1,000.
Explanation:
The adjusting entry is shown below:
Cash Dr $1,000
To Notes receivable $1,000
(Being the note receivable collected by the bank is recorded)
While recording the transaction, we debited the cash account as it increases the cash balance and credited the note receivable.
Hence, the second option is correct
