Answer:
1. Aunt Sandy's Jammin' Jellies (the business) - <u>Entrepreneurs </u>
Entrepreneurship refers to the process of bringing together the various other factors of production to be able to produce goods and services. Aunt Sandy's as a business is an entrepreneur as it brought together factors of production to make Jellies.
2. Anika, a server at Sonic Drive-In - <u>Labor</u>
Labor refers to the actual people who contribute to the business. Anika is a server at the Drive- In and so works there contributing to the success of the business so she is Labor.
3. Your favorite bartender - <u>Labor</u>
Like Anika above, your favorite bartender is also a person contributing to the success of the bar so is considered labor.
Answer:
The correct option is C.
Cash A/c Dr $300,000
To Notes Payable $300,000
(Being notes payable issued)
Explanation:
As brick company has sign a $300,000 note which consist 7% interest rate and the duration of note is 9 month on January 1
The question has asked the journal entry on January 1 date.
So, the journal entry is
Cash A/c Dr $300,000
To Notes Payable $300,000
(Being notes payable issued)
The interest part should be ignored because in the question they asked the journal entry of January 1 not in the end of the month. According to the date of asking the journal entry, the amount is to be calculated. Thus, interest should not be considered.
Hence, the correct option is C.
Cash A/c Dr $300,000
To Notes Payable $300,000
(Being notes payable issued)
Your answer is LLC so it would be B. IM writing this long because i have to
Answer:
$17.97 per unit
Explanation:
Using weighted average method, Equivalent units = Units that are completed during the period + Equivalent units in process at the end of period.
Equivalent units = 8,500 + 2,000*90%
Equivalent units = 8,500 + 1,800
Equivalent units = 10,300
Cost per equivalent unit for materials = (Beginning costs + Current costs) / Equivalent units
Cost per equivalent unit for materials = ($13,000 + $172,100) / 10,300 units
Cost per equivalent unit for materials = $185,100 / 10,300 units
Cost per equivalent unit for materials = $17.97 per unit
Answer:
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