Ask question

Ask question

All categories

3 years ago

8

Credits to customer accounts and credits to other accounts are individually posted from a cash receipts journal such as the one

in Exhibit 7.7. Why not put both types of credits in the same column and save journal space?

1 answer:

Nadusha1986 [10]3 years ago

4 0

Answer:

Please see attachment

Explanation:

Please see attachment

You might be interested in

Accounting for manufacturing overhead. Creative Woodworking uses normal costing and allocates manufacturing overhead to jobs bas

VikaD [51]

Answer:

a) Budgeted manufacturing overhead rate = budgeted overhead cost / budgeted labor hours

= $ 4,140,000/ 180,000 hrs

= $23 per hour.

b. JOURNAL ENTRY

Debit Work in process $4,347,000 Credit Manufacturing overhead $4,347,000

c. under or over applied = Actual overheads - applied

= $4,337,000 - $4,347,000

Over applied = 10,000

yes the amount of over applied overheads is significant and material enough and it should be written off against cost of sales.

JOURNAL ENTRY

Debit Manufacturing overheads $10,000 , Credit Cost of sales $10,000

Explanation:

allocated manufacturing overheard = $23 * 189000 hrs = $4,347,000

4 0

2 years ago

Because we often cant choose who our coworkers will be we should

Vanyuwa [196]

Practice working with others even if you don't fell comfortable with this person, or necessarily like them at all.

6 0

3 years ago

Mitch is a director and officer of Numero Uno, Inc. Mitch makes a marketing decision that results in a dramatic decrease in prof

Stells [14]

Answer:

As long as Mitch acted in good faith and tried to make the best possible decision regarding all available information, and his decision was something that any other person could have made, his mistake has to be considered a bad or negative business judgement (business judgement rule). He thought that his actions would benefit the corporation, but he was wrong and the corporation lost money. That types of mistakes are considered normal and just that, mistakes that anyone can make.

In regards with the second issue, that Mitch is a shareholder and a director of a firm that will directly compete with Numero Uno, he must inform the board about this and resign to either Numero Uno or One of a Kind.

6 0

2 years ago

What is the highest level of message AWARENESS that can be reached with the UNIVERSITY STUDENT based on a selection(s) of POSITI

Ivahew [28]

The highest level of message AWARENESS that can be reached with the UNIVERSITY STUDENT based on a selection(s) of POSITIONING messages is 50%.

<h3>What is positioning messages?</h3>

Positioning messages can be defined as message that contain detailed and concise information about how a product are and how such product tend to meet customers expectations or needs.

Positioning messages as well help to described how a product are including the satisfaction or benefit a consumer can derive from the product.

Therefore based on a selection(s) of POSITIONING messages is 50%.

Learn more about positioning messages here:brainly.com/question/14293602

#SPJ1

8 0

2 years ago

Dividends-R-Us, Corp. is paying a dividend of $3 a share today. It is expected that the company will continue its policy of incr

leonid [27]

Answer:

Amount for each stock to be paid at maximum = $54

Explanation:

Using Dividend growth model, we have,

$P_0 = \frac{D_1}{K_e - g}$

Where $P_0$ = Expected price of share today

$D_1$ = Dividend to be paid at this year end

= $D_0 + g$

$K_e$ = Required return on investment

g = Growth rate

Therefore,

$D_1$ = = $3 + 8% = $3.24

$P_0 = \frac{3.24}{0.14-0.08}$

$P_0$ = $54

Therefore, current price for this share or sock to be paid = $54 per share.

5 0

2 years ago