Identify.
In the identify stage, you will determine if the opportunity fits your skills, interests, and goals.
Answer:
Salaries and wages payable...................Dr $20,000
Salaries and wages expense $20,000
Explanation:
As per accrual system, an expense is incurred when it is accrued irrespective of when it is paid. So, $20,000 was accrued in December 31, salary and wages expenses would have been debited then amounting to $20,000.
In order to rectify the mistake of double counting, the entry passed by the accountant would be reversed to nullify the effect.
Adjusting Journal entry:
Particulars Debit Credit
Salaries and wages payable $20,000
Salaries and wages expense $20,000
(Being double counting of salaries and
wages expense rectified)
Answer:
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- <u>1. The slope is negative</u>
- <u>2. The demand decreases when the prices increase.</u>
Explanation:
<em>Describe the slope of the demand curve?</em>
<em>The slope of the demand curve</em> is negative.
The demand curve is graphed on a coordinate plane with the price in the horizontal axis (typically the x-axis) and the demand on the vertical axis (y-axis).
Thus, the slope will be the rate of change of the demand over the change on the price.
Mathematically:
Since, as you move from left to right, on the x-axis, the prices increase, and the demand (on the y-axis) lowers, the change in demand is negative and the change in the prices is positive, resulting in a negative slope.
This is seen graphycally because the demand curve is decreasing (downward-sloping).
<em>How does the slope reflect the law of demand?</em>
The slope reflects perfectly <em>the law of demand</em> because the law of demand states that, since the resources are scarce, when the prices incrases the quantities demanded decrease.
Answer:
The powers of stockholders are to be given discounts on the company's products.
Adirondack Marketing Inc.'s Factory Overhead per unit of Product A is <em>d. </em><em>$222.09</em><em> per unit.</em>
Data and Calculations:
Overhead Total Direct Labor Hours DLH per Product
A B
Painting Dept. $251,700 10,200 9 5
Finishing Dept. 61,700 11,900 5 6
Totals $313,400 22,100 14 11
The overhead rate for a unit of Product A in the <u>Painting Department</u> = Total overhead in the Painting Department divided by Direct Labor Hours, multiplied by <em>direct labor hours per unit</em> of Product A.
= $222.09 ($251,700/10,200 x 9)
Thus, for a unit of Product A, the overhead rate in the <u>Painting Department</u> is $222.09.
Learn more about overhead allocation at brainly.com/question/14095583
