Answer:
EU materials: 434.040
EU conversion: 412,632
Explanation:
W/a method count the complete units plus the percnetage of completion in the ending work in process intventory.
Materials:
transferred-out (completed) 411,000
ending WIP inventory
32,000 x 72% = 23,040
Equivalent untis materials: 434.040
Conversion:
transferred-out (completed) 411,000
ending WIP inventory
32,000 x 51% = 1,632
Equivalent untis conversion: 412,632
Answer:
The journal entries are shown below:
Explanation:
According to the scenario, the journal entry for the given data are as follows:
For Office equipment
Dec.31 Depreciation for office equipment A/c Dr $2,840
To Accumulated depreciation for office equipment A/c $2,840
(Being the depreciation expense for office equipment is recorded))
For Production equipment
Dec.31 Depreciation for production equipment A/c Dr $6,910
To Accumulated depreciation for production equipment A/c $6,910
(Being the depreciation expense for production equipment is recorded))
Answer:
o inferior
Explanation:
The inferior goods shown the inverse relationship between the demand and the income. If the demand of the goods is increased so the income would fall and if the demand of the goods fall so the income would rises
So this represent that the good is an inferior good
Hence, the second option is correct
Answer:
D. $ 10,300
Choice D is correct: Net income = $ 10,300
Explanation:
Cash Received = $ 16000
Less Rent Paid= ( $ 2000)
Add income = $ 3000
Less Salaries for the month of March = ($ 6200)
Less utilities paid ($ <u>500)</u>
<u>Net income=</u> $ 10,300
Treatments.
Net income is found by deducting expenses from revenues earned
$ 100,000 is the retained earnings so it is not accounted for net income.
Equipment is an asset so it is not accounted for net income.
Cash received is the revenue so it is accounted.
Rent is an expense account so it is subtracted.
Income for service $ 3000 provided is also taken into account on matching principle basis.
Advance received will be adjusted when the services will be rendered on matching principle.
List your income and your assets and find the total. Iam not really sure that's the answer, but it sounds right.
