The journal entry of a building being purchased will be, a debit in the building account by $60,000; and the cash account and payables account will be credited by $20,000 and $40,000 respectively.
<h3>What is a Journal Entry?</h3>
A method of recording the monetary transactions of a business firm throughout a financial period, in such a way that effects of the same are reflected in the financial statements, is known as recording of journal entries.
Hence, the effect of the journal entry has been given above, and an image is also provided for better understanding of the concept for the readers.
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The answer is: A pound of flour from the Fluffy Flour Company will be the same weight as a pound of flour from another company.
In the before standard for weight and measures were created, commodities such as flour was sold using 'bags' as standard of measurement. This cause a lot of problems among buyers because many sellers put very little amount of flour inside one bag in order to obtain many profit
Because of such problems, Standard for weight and measures were invented so the sellers would not be able to cheat the buyers by less amount that they suppose to.
Answer:
C
Explanation:
This option provided a background to the skills and attributes that the employee is presenting to the prospective employer.Also,the former could deduce that the employee in question has the penchant to learn and make positive impact on the job
Answer:
46 days
Explanation:
Given that,
Ending Accounts Payable = $1,242
Cost of goods sold = 9,855
Average accounts payable = 1,193
Payable turnover ratio = Cost of goods sold ÷ number of days
= 9,855 ÷ 365
= 27
Days Payable Outstanding:
= Ending Accounts Payable ÷ Payable turnover ratio
= $1,242 ÷ 27
= 46
Therefore, the payable days outstanding for 2014 is 46.
Answer:
$8,100
Explanation:
As per the data given in the question, first we have to determine the total cost and per unit cost for allocation made to Loin chops which are shown below:
Total cost = cost of loin + cost of chops + cost of ground + cost of bacon
= ($2,700 × 5) + ($9,000 × 2) + ($3,750 × 4.6) + ($7,500 × 3.5)
= $75,000
Therefore, per unit cost is
= Total joint Cost ÷ total cost
= $45,000 ÷ $75,000
= $0.6
Hence allocation to loin chops is
= ($2,700 × 5) × $0.6
= $8,100
