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Aleks [24]
3 years ago
11

The journal entry to record direct labor used in process costing is a(n): Multiple choice question. increase in assets and an in

crease in equity. decrease in assets and a decrease in liabilities. decrease in assets and a decrease in equity. increase in assets and an increase in liabilities.
Business
1 answer:
amid [387]3 years ago
6 0

Answer:

Increase In Assets and an increase in liabilities

Explanation:

DIRECT LABOUR can be seen or defined as the labour a person or an individual put in the production of goods and services in which they are been paid for as wages.

Therefore The journal entry to record DIRECT LABOR USED IN PROCESS COSTING is a(n):

INCREASE IN ASSETS and AN INCREASE IN LIABILITIES reason been that in direct labour used in process costing an increase in Asset will as well lead to Increase in Liabilities.

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Harvey's Wholesale Company sold supplies of $46,000 to Northeast Company on April 12 of the current year, with terms 1/15, n/60.
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Answer:

D) Cash 45,540 Accounts receivable 45,540

Explanation:

The journal entry is shown below:

Cash A/c Dr $45,540

        To Accounts receivable A/c  $45,540

(Being cash is received in respect of goods sold)

The computation is shown below:

= Sold value of supplies - the sold value of supplies × discount percentage

= $46,000 - $46,000 × 1%

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= $45,540

Since the net method is used so we debited the cash account and credited the account receivable account.

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3 years ago
5. A garden plant that has been passed down within a food family and is generally not commercially grown is called a/an _______
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Answer:

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Patrick Rach International issued 5% bonds convertible into shares of the company's common stock. Rach applies U.S. GAAP. Upon i
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Answer:

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A higher marginal income tax rate reduces incentives to work because
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