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Svetach [21]
2 years ago
8

What account is a affected when goods are sold on credit ​

Business
1 answer:
katovenus [111]2 years ago
7 0

Answer: account receivable account

Explanation:

The accounts receivable account simply refers to an asset account on the balance sheet which represents the money that is due to a business in the short term. It should be noted that the accounts receivables are created when goods are bought on credit by the buyer.

In such case, when the goods are sold on credit to the buyer, this will lead to a debit on the account receivable account and this will bring about an increase to the company's assets.

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First of all, the predetermined overhead will be calculated.

Predetermined overhead rate = Estimated manufacturing overhead / Estimated direct labor hour

Predetermined overhead rate = $ 258,000 ÷ 15,000 hours = $ 17.20 per direct labor hour

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Applied manufacturing overheads = Predetermined overhead rate × Actual direct labor hours

Applied manufacturing overheads = $ 17.20 × 13,100 = 225,320

Applied manufacturing overheads are less than actual manufacturing overheads, thus overheads are under applied.

Actual manufacturing overheads - Applied manufacturing overheads = $ 27,680 under applied

4 0
3 years ago
When a corporation issues its capital stock in payment for services, the least appropriate basis for recording the transaction i
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Answer:

par value of the shares issued.

Explanation:

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3 years ago
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inn [45]

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True

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2 years ago
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