Answer: demand; supply
Explanation:
Operations is concerned with demand while marketing is concerned with supply. It is function of those in the operations department to use the available raw materials to create products that consumers have demanded.
The marketing department is in charge of making sure people purchase the product and supply to them.
Answer:
B.The Svensons Assets increased by $1800
Explanation:
The Svensons assets increased by $1,800 because even if they purchased the refrigerator for $1,900, the market value of the refrigerator is $2,300, so their assets initially increase by this amount.
However, they also withdraw $500 from their savings to pay for the refrigerator, meaning that this asset account is reduced by the same amount.
Thus, an initial increase of $2,300 minus a later decrease of $500 gives us a final $1,800 increase.
Answer:
The journal entry to record the direct material used in production is given below:
Dr Work-In Process Inventory $40000
Cr Raw Materials Inventory $40000
Explanation:
The work in process inventory is debited since it is the receiving account ,while raw material inventory is credited as it is the giving account.
The work in process depicts raw materials currently being worked upon at the production, from which completed goods are then transferred to finished goods inventory.
The raw materials inventory account is the account where raw materials received from vendors are first of all recorded before the need to issue to production process.
When such materials are received in the warehouse , the raw materials inventory account is debited while the supplier account is appropriately credited to show the amount of indebtedness.
False, forgot the payment or goods exchange part.
The effect of repurchasing stock using the cost method is to Increase Treasury Stock, Decrease stockholders' equity ,Decrease Assets.
<h3><u>
What is Cost Method?</u></h3>
- Certain investments are recorded using the cost method of accounting in a company's financial statements.
- When an investor holds an investment that it has little or no control over—typically described as owning less than 20% of the company—they employ this strategy. On the balance sheet, the investment is listed as an asset at its historical cost.
- The investor lists the investment's cost as an asset. Dividend income is recorded as income when it is received and appears on the income statement.
- Depending on the investor's accounting principles, the receipt of a dividend also boosts the cash flow, either in the investing portion or the operational area of the cash flow statement.
Treasury stock, commonly referred to as treasury shares or reacquired stock, describes previously outstanding stock that the issuing corporation purchases back from stockholders. The effect of repurchasing stock using the cost method increases treasury stock.
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