Answer:
factory overheads $14,600 (debit)
indirect materials, $2,250 (credit)
indirect labor, $6,370 (credit)
utilities cost, $2,660 (credit)
factory depreciation, $3,320 (credit)
Explanation:
The factory overheads account is debited with factory overheads actually incurred during the period.
Overheads applied to work in process are credited in the overheads account.
This leaves the balance of over or under-applied overheads on either the debit or credit of this account.
Answer:
The correct answer is letter "D": sole proprietor.
Explanation:
A sole proprietorship is a type of organization where the owner is only one person and the individual files taxes on the profits earned with the business. Under this regime, the owner is fully liable for the company which implies personal assets can be considered in front of debt.
When it comes to reporting equity, a <em>sole proprietorship</em> does it in the same way as a <em>Limited Liability Corporation</em> (LLC). The only difference relies on reporting the equity under the sole proprietor name rather than the name of the LLC.
Answer:
lower per capita real gross domestic product (GDP) growth rates allow for less spending on automobiles.
Explanation:
Gross Domestic Products (GDP) is a measure of the total market value of all finished goods and services made within a country during a specific period.
Simply stated, GDP is a measure of the total income of all individuals in an economy and the total expenses incurred on the economy's output of goods and services in a particular country.
Generally, the Gross Domestic Products (GDP) of a country's economy gives an insight to the social well-being of the country, such as;
Adjusting the Real gross domestic product (Real GDP) for price level changes by using a price index. This simply means, Real GDP is adjusted for inflation to measure the value of goods and services produced by a country in a specific period of time.
Mathematically, 
Hence, residents of poor countries tend to have fewer automobiles per capita because lower per capita real gross domestic product (GDP) growth rates allow for less spending on automobiles.
Answer: $380 million
Explanation:
To solve the question, first we have to calculate the depreciation that'll be reported for each year and this will be:
= $1140 million/3 years
= $380 million
Then, the deferred tax liability related to the excess depreciation will be:
= ($380 million × 30%) + ($380 million ×
35%) + ($380 million × 35%)
= $114m + $133m + $133m
= $380 million
Answer and Explanation:
The journal entry at the time of receiving the note is as follows:
Note receivable Dr $11,000
To Account receivable $11,000
(Being the note receivable is recorded)
Here the note receivable is debited as it increased the assets and credited the account receivable as it decreased the assets
