Answer:
The correct answer is letter "B": Depreciation reduces the book value of assets
.
Explanation:
Depreciation shows how much and the value of the assets was used up. This also aims to balance an asset's cost to the revenue that the asset has helped the business gain. Used as an income tax deduction, depreciation calculations offer businesses an annual allowance for the use and deterioration of tangible (physical) assets.
<em>Depreciation reduces the book value of assets because, after the depreciation calculation is done, the amount computed decreases the current value of the asset it represents.</em>
The Journal entry which Nicholson company will prepare on June 2 will be like when goods are returned the reverse entry is made which is
Accounts Payable A/c Dr. $480
Purchase Return / Inventory A/c Cr. $480
A journal entry is an act of recording any transaction, whether it is economic or not. Multiple recordings, each of which is either a debit or a credit, may be included in the journal entry.
Accounting journal entries are transferred from the journals and posted to the general ledger in order to record financial transactions in the accounting system. Modern accounting software handles the majority of this process automatically, but it's crucial to understand what's going on since there are instances when manual entries will need to be made to adjust or correct account balances at the conclusion of an accounting month.
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Answer:
The process of joint decision making in which employees share a high degree of decision-making power with their superiors is called Participative Management
Answer:
The capacity of the lathe department is 3200 parts/week. The workers capacity is the bottleneck.
Explanation:
In this case we have to compare the machine capacity and the worker capacity, and detecting shich one is limitating the capacity of the department.
Machine capacity
The time it takes for a machine to process a batch is
In 40-hour week, every machine can process 2 batches/week.
With 20 machines, the capacity of the department is 2*20=40 batch/week (4000 pcs/week).
Workers capacity
With 40-hour week and 5-hours setup, every worker can make (40/5)=8 setups a week.
If the department has 4 workers, the amount of setups that can be done is 4*8=32 setups/week. That means that only 32 batches can be processed per week (3200 pcs/week).
The workers resource is the limitating capacity, and therefore the capacity of the lathe department.
Answer and Explanation:
The journal entry to record the issuance of the bonds is shown below:
Cash Dr ($8,000,000 × 1.03) $8,240,000
To Bond payable $8,000,000
To Premium on bond payable $240,000
(Being issuance of the bond is recorded)
Here cash is debited as it increased the asset and credited the bond payable and the premium on bond payable as it increased the liabilities
Hence, the same is to be considered
