Answer:
d. debit to an expense account and a credit to an asset account.
Explanation:
When a prepayment is made, the entries recorded are Debit prepaid expense and credit Cash account to recognize the amount prepaid.
As time passes and the expenses are incurred, the entries required are debit expense account and credit prepaid expense (an asset) with the amount of the expense incurred as a result of the passage of time.
Firms that take voluntary actions to address the ethical, social, and environmental impacts of its business operations are involved in a Corporate Social Responsibility. Hope this helps. <span />
Answer: A. Brand alignment
Explanation:
Brand alignment simply means when a company ensures that the brand's promise is being uphold through its marketing assets and the way the company interacts with the customers.
Brand alignment is a way of making sure that the brand's promise are delivered and met. Since the slogan of Nature's Source Products is "Loving the Planet." and the company employs people who are committed to sustainability and enjoyment of nature, it implies that the company is using brand alignment.
when manufacturing overhead has a credit balance, overhead is overapplied. Overapplied overhead means that the overhead assigned to work in process is greater than the overhead incurred. Also, since the amount is immaterial, it should be closed in cost of goods sold.
The adjusting entry for the overapplied over-head is:
b. debit factory overhead $5,600; credit cost of goods sold $5,600.
After posting this entry the factory overhead account will have a zero balance.
Hope it helps!
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