Answer:
debit Work in Process Inventory, credit Raw Materials Inventory.
Explanation:
For reasons of accounting principles, the physical inventory must have priority to that of the continuous method; since the first constitutes information of greater objectivity and can therefore serve as a reference point to determine if there are missing or surpluses in the inventories, which after being well purified, can be adjusted through the cost of sale account and the inventory account accordingly if the permanent inventory turns out to be greater than the physical one, the cost of sale account must be <u>debited</u> for the amount of the difference, while the inventory account will receive a <u>credit</u> for the same value.
A company’s management team should give serious
consideration in bidding for a private label footwear contract in a geographic
region when the company’s production capacity in one or more geographic regions exceed or else be idle because the number of pairs of branded
footwear is below full production capacity based on the company managements planned to be produce.
Not all of the answer choices are here
The correct answer is repatriation.
A person who has been sent to work in another country might have a hard time adjusting to his original country once he or she returns. This is because you assimilate into that new culture, and when you go home, you have to readjust again in order to assimilate back into your former culture.
Debit withdrawals; credit cash is the correct answer.
<h3>What are drawings in accounting?</h3>
- A drawing bank is not in and of itself a bank account.
- Drawing in accounts are the records kept by a company owner or auditor that show how much cash has been taken by business owners.
- These are transfers made for personal use rather than for the profit of the business, yet they are governed in a way that employee earnings are not.
- Because these transfers must be offset against the owner's equity, accurate records must be maintained.
- A separate drawings directly deals with it simpler to keep track of these actions and balance the books at the conclusion of every fiscal year when you need to know how to end your drawings account.
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