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3 years ago

Selected transactions for A. Mane, an interior decorator, in her first month of business, are as follows.

Business

1 answer:

Verizon [17]3 years ago

4 0

Answer:

Please see below

Explanation:

Jan 2.

Dr Cash $13,100

Cr Owner equity $13,100

(Being owner's capital contribution to the business in form of cash)

Jan 3.

Dr Vehicle $3,930

Cr Cash. $3,930

(To record the purchase of used car in form of cash)

Jan 9

Dr Supplies. $655

Cr. Accounts payable $655

(To record supplies purchased on account )

Jan 16

Dr Account receivable $3,144

Cr Revenue $3,144

(Being the record of revenue earned on credit)

Jan 16

Dr Advertising expenses $459

Cr Cash $459

(Being the record of advertising expenses paid in cash)

Jan 20

Dr Cash. $917

Cr Account receivable $917

(Being the record of partial collection receivables)

Jan 23

Dr Account payables $393

Cr Cash $393

(Being the record of payment made to creditors)

Jan 28

Dr. Owner equity $1,310

Cr. Cash $1,310

(To record owner's withdrawal of capital in form of cash)

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In companies using a fixed-order quantity model, a consistent inventory level is used as a trigger to order more product. This i

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Answer:

Reorder point

Explanation:

A company or organization making use of fixed-order quantity model which is a model where the REORDER POINT has been fixed and has already been set automatic in which once it reach the minimum inventory level it will remind the company that inventory level has reach the limit for the company to restore the stock inventory or order more product, which is why this inventory level is called the REORDER POINT.

Therefore REORDER POINT can be defined as the point which serve as a reminder that the stock inventory level has dropped to the minimum reorder level and need to be replaced or reorder.

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3 years ago

Which of the following is a manufacturing overhead cost? A. labor cost of plant workers that can be traced accurately and easily

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Answer:

The correct answer is letter "B": to a particular product overtime premiums paid.

Explanation:

Overhead costs is an accounting term used for expenses that have to be paid, even if the business does not earn any revenue. The business would not be able to operate without paying its overhead expenses even if the expenses do not directly relate to the product or service being produced.

Examples of overhead costs are rent, utilities, office supplies, repairs and maintenance, insurance, taxes, or the salaries of human resources and accounting personnel. Overtime premiums paid to plant workers fall into this category as well.

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3 years ago

Large investments in old technology and incompatiblility of new and old technologies with each other are the main reasons compan

Ede4ka [16]

Answer:

Design competition

Explanation:

Competition is said to occur when there is rivalry between business organisations that offers the same product and services. This results in struggle for profit, market share growth as well as revenue achievement.

Design competition is employed by the organization who wants to have a cutting edge advantage over rival companies that produces the same product. This dine by changing production line, technology, product size and quality e.t.c.

However, various barriers hinders Design competition. For instance, large investment in old technology will make decisions to take up new technology a hard one to take.

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4 years ago

The following information is available for Brendon Company before closing the accounts. What will be the amount in the Income Su

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Answer:

$64,400

Explanation:

The amount of in the income summary that would be closed to retained earnings is the fees earned of $187,000 less the depreciation expense of $12,000,wages expense of $71,400,interest expense of $3,300,insurance expense of $11,700 as well as the rent expense of $24,200 as computed thus:

net income from income summary=$187,000-$12,000-$71,400-$3,300-$11,700-$24,200=$64400

Retained earnings closing balance=$112,000-$32,000+$64400 =$ 144,400.00

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3 years ago

Training employees to effectively deal with customers, providing better assistance to customers, and explaining the use of compl

sesenic [268]

The correct answer is delivery gap. This is the gap between what the customer knows and wants and what you're providing him. If you train your employees well, then the gap will be lower meaning that the customers won't mess things up and will use what they're buying properly. This not only often saves the customer if something complicated and dangerous is used, but it also prevents you from being sued if something malfunctions due to human error.

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4 years ago