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3 years ago

What are the disadvantages of journal entry

Business

1 answer:

miss Akunina [59]3 years ago

4 0

Answer:

the journal can be destroyed

Explanation:

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OceanGate sells external hard drives for $260 each. Its total fixed costs are $30 million, and its variable costs per unit are $

Svetach [21]

Answer:

a. in order to calculate this we must assume that the economy entered a recession:

degree of operating leverage = [($20 - $70)/$70] / [($260 - $520)/$520] = -0.7143 / -0.5 = 1.43

b. $14 million

Explanation:

strong economy:

total sales $520 million

variable costs $420 million

gross profit $100 million

fixed costs $30 million

EBIT $70 million

income taxes $21 million

net income $49 million

weak economy:

total sales $260 million

variable costs $210 million

gross profit $50 million

fixed costs $30 million

EBIT $20 million

income taxes $6 million

net income $14 million

7 0

3 years ago

Prior to adjustment at August 31, Salaries Expense has a debit balance of $272,650. Salaries owed but not paid as of the same da

zlopas [31]

Answer:

A. Dr Salary Expense $3,140

Cr Salary expense outstanding $3,140

B. Dr Income summary $275,790

Cr Salary expense $275,790

Explanation:

A. Preparation of the adjusting entry to record accrued salaries as of August 31

August 31

Dr Salary Expense $3,140

Cr Salary expense outstanding $3,140

(To record accrued salaries)

B. Preparation of the Closing entry on August 31

August 31

Dr Income summary $275,790

Cr Salary expense $275,790

($272,650+$3,140)

(To record Closing entry)

5 0

3 years ago

The standard factory overhead rate is $7.50 per machine hour ($6.20 for variable factory overhead and $1.30 for fixed factory ov

lesantik [10]

Answer:

$26,000 adverse variance

Explanation:

Fixed Overheads Volume Variance = Budgeted Overheads at Actual Output - Budgeted Fixed Overheads

= $1.30 x 60,000 hours - $1.30 x 80,000

= $78,000 - $104,000

= $26,000 adverse variance

The fixed factory overhead volume variance is $26,000 adverse variance

7 0

3 years ago

If a buyer's willingness to pay for a new Honda is $30,000 and she is able to actually buy it for $28,000, her consumer surplus

dalvyx [7]

Answer:

$2,000

Explanation:

Calculation to determine the consumer surplus

Consumer surplus=$30,000-$28,000

Consumer surplus=$2,000

Therefore consumer surplus is $2,000

8 0

3 years ago

The law of demand states that A. a higher price will lead to increased sales. B. quantity demanded will vary inversely with the

Alchen [17]

Answer:

The correct answer is B. The law of demand states that quantity demanded will vary inversely with the price of the good.

Explanation:

The law of demand states that the value of demand decreases as the price of the product increases, that is, between the value of demand and the price there is an inverse relationship, therefore, an increase in price causes a decrease in demand, and a decrease in price causes an increase in demand.

Therefore, manufacturers who have decided to produce more should know that an increased number of goods can only be sold at a lower price.

The quantity of goods purchased depends on the price as well as on the average income of the buyers, the size of the market, the price and usefulness of other goods, including substitutes, subjective tastes and preferences of buyers.

8 0

3 years ago

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What are the disadvantages of journal entry​

What are the disadvantages of journal entry