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2 years ago

Indicate how the following transactions affect the accounting equation.

Business

1 answer:

jeyben [28]2 years ago

5 0

Answer:

Hopefully I understood the question correctly. Below is the affect on

assets-liabilities= owners equity

Explanation:

A. Increases assets, increases liabilty

b. Increases assets, decreases assets (a wash for assets)

c. Decreases owners equity, decreases assets

d. Increases owners equity, increases assets

e. Increases owners equity, increases assets

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List the four steps in the response model for answering behavioral interview questions.

ad-work [718]

One technique in answering behavior interview questions is STAR where S makes for specific situation, T for task, A for action and R for result. SImple but efficient procedure
Thank you for your question. Please don't hesitate to ask in Brainly your queries.

7 0

3 years ago

Read 2 more answers

On September 1 of the current year, Scots Company experienced a flood that destroyed the company's entire inventory. Because the

dangina [55]

Answer:

$82,580

Explanation:

We can calculate the estimated amount of inventory destroyed in the flood by deducting the cost of goods sold by the cost of goods available for sale.

DATA

Beginning Inventory = $215,950

Inventory purchased = $192,730

Sales = $543,500

Calculation

Inventory destroyed Iestimated) = Cost of Goods available for sale - Cost of Goods Sold

Inventory destroyed Iestimated) = $408,680 - $326,100

Inventory destroyed Iestimated) = $82,580

Working

Cost of Goods available for sale = Beginning Inventory + Inventory purchased

Cost of Goods available for sale = $215,950 + $192,730

Cost of Goods available for sale = $408,680

Cost of Goods Sold = Sales - Gross Profits

Cost of Goods Sold = $543,500 - ($543400 x 40%)

Cost of Goods Sold = $ 326,100

4 0

3 years ago

The rules of debit and credit for expense accounts are the same as the rules for asset accounts. true or false

zepelin [54]

True hope this helps!!

8 0

3 years ago

EB13.

Harman [31]

Answer:

Journal entries to record the expenses incurred are given below.

Debit Factory Overhead Control Account $ 1300

Credit Utilities bills account $ 700

Credit Accumlated factory depreciation $ 400

Credit property tax payable $ 200

Journal entries to record the allocation of overhead at the predetermined rate of $1.50 per machine hour are given below.

Debit WiP process account $ 525

Credit Factory overhead applied account $ 525

(1.5 * 350 (machine hours))

5 0

3 years ago

Pacifica Industrial Products Corporation makes two products, Product H and Product L. Product H is expected to sell 39,000 units

Gemiola [76]

Answer:

Each product will be allocated with 38.30 dollars of manufacturing overhead as both takes 0.81 DLH

Explanation:

$\frac{Cost\: Of \:Manufacturing \:Overhead}{Cost \:Driver}= Overhead \:Rate$

To calcualte the overhead rate we need to distribute the expected cost over the expected cost driver, in this case, labor hours:

(39,000 + 8,000) x 0.81 DLH = 38,070 labor hous

$1,800,000 overhead / 38,070 DLH = 47,281323877

the overhead per hour is $47.28

overhead per product:

47,281323877 x 0.81 = 38,29787234 = <u><em>38.30</em></u>

4 0

3 years ago