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2 years ago

The journal entry to record direct labor used in process costing is a(n):___________

Business

1 answer:

Degger [83]2 years ago

3 0

Answer:

b. increase in assets and an increase in liabilities.

Explanation:

The journal entry to record the direct labor cost used is shown below:

Work in process Dr

To wages payable

(Being the direct labor cost used is recorded)

Here the work in process is debited as it increased the assets and credited the wages payable as it also increased the liabilities

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What is used to calculate the cost of living index

Elanso [62]

Explanation:

A cost-of-living index is a theoretical price index that measures relative cost of living over time or regions. It is an index that measures differences in the price of goods and services, and allows for substitutions with other items as prices vary.

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2 years ago

Brian is the 99% shareholder, president, and director of Arapine Corp. He frequently uses the corporation credit card for his pe

Alika [10]

Answer: (C) Brian is liable because the court will pierce the corporate veil.

Explanation:

The phrase "PIERCING THE CORPORATE VEIL" is used to describe a situation where a Court decides to hold Corporate Shareholders and/or LLC Owners personally liable for the liabilities of a corporation.

When individuals act in a way that does not separate them from the company (dissolving this 'veil'), the Court looks upon this seriously and treats it in kind. Some instances of this happening are, failure to keep business and personal funds separate and diverting business assets for personal use without proper documentation as Brian seems to have done.

For this reason, the Court will very much likely Pierce the veil.

If you need any clarification do react or comment.

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3 years ago

A direct participation program shows the following operation results: Revenues: $3 million Operating expense: $1 million Interes

stiks02 [169]

Answer:

The cash flow from program operation is $1,600,000.

Explanation:

Prepare the Cash Flow from Operating Activities Section to determine the cash flow from program operation.

Cash Flow from Operating Activities

Revenue $3,000,000

Less Expenses :

Operating Expenses $1,000,000

Interest expense $200,000

Management fees $200,000

Depreciation $3,000,000 ($4,400,000)

Operating Profit / (Loss) ($1,400,000)

Add Back Depreciation $3,000,000

Operating Cash flow $1,600,000

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3 years ago

On october 4, 2017, terry corporation had credit sales transactions of $2,500 from merchandising having a cost of $1,900. the en

Arturiano [62]

I believe that this problem has the following choices:

> a debit of $2,500 to Merchandise Inventory.

> a credit of $2,500 to Sales.

> a debit of $1,900 to Merchandise Inventory.

> a credit of $1,900 to Cost of Goods Sold.

The correct answer from the choices is:

> a credit of $2,500 to Sales

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3 years ago

The study of economics:

DochEvi [55]

Helpful to businesses, but not particularly helpful in making personal buying decisions.

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3 years ago