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Serjik [45]
3 years ago
5

Journalize the following transactions for the Evans Company. Assume the company uses a perpetual inventory system.

Business
1 answer:
marta [7]3 years ago
4 0

Answer:

Evans Company

General Journal

Part a.

Debit : Cash $645

Debit : Cost of goods sold $375

Credit : Sales Revenue $645

Credit : Merchandise $375

Part b.

Debit : Cash $432

Debit : Cost of goods sold $195

Credit : Sales Revenue $432

Credit : Merchandise $195

Part c.

Debit : Accounts Receivable $670

Debit : Cost of goods sold $438

Credit : Sales Revenue $670

Credit : Merchandise $438

Part d.

Debit : Credit Card fees $85

Credit : Cash $85

Explanation:

The Perpetual inventory system calculates the cost of sale and inventory balance on each and every sale made hence the journals above.

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D. They are primarily satisfied by establishing and maintaining close interpersonal relationships.

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Two ways in which can adapt to the challenges of the business environment
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<h3>Two ways in which can adapt to the challenges of the business environment</h3>
  1. Recognize the Size of the Change
  2. Be open to new and different ideas

Today's business concerns are more pressing than ever before. Businesses are competing on a much greater scale as a result of technical advancements and globalization. And, in light of the current economic and health crises, business owners confront an even greater challenge: prospering, not just surviving. Here are four strategies to explore in order to assist your company adjust amid difficult times.

<h3>1. Recognize the Size of the Change</h3>
  • To most seasoned company and executive leaders, the word 'adapting' may sound cliché. Adaptability, on the other hand, in the context of business simply means being open to new ideas and methods. Accept that the world is changing at a quick speed, and that in order for businesses to thrive, they must adapt their strategy to meet the demands of the moment.
<h3>2. Be open to new and different ideas.</h3>
  • In order to be competitive, a business owner needs understand a few things. The first step is to think about what other options you have. Consider your backup plans and procedures in case the market situation changes unexpectedly. A business owner must constantly be prepared for any kind of tweaks and changes that their company may experience, and have a contingency plan in place that can be implemented promptly.

8 0
2 years ago
If the United States Supreme Court decided a similar case, would that decision be binding on the Nebraska court? Explain. at lea
Stolb23 [73]

Answer:

A lot of information is missing, but the answer is the same whether we are told about a specific case or not. If the US Supreme Court decided on a similar case that is under trial in Nebraska, the Nebraska court must follow the decision and guidelines of the US Supreme Court.

The Supreme Court is the highest court in the US, and its decisions must be followed by all lower courts. If a lower court doesn't follow a Supreme Court decision on a similar case, then an appellate court would reverse the decision.

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8 0
3 years ago
MC Qu. 6 Physical goods can be differentiated ... Physical goods can be differentiated from services in the operations managemen
swat32

Answer:

The answer is: Longer lead times and they can be inventoried.

Explanation:

Physical goods or products usually have longer lead times than services (although not necessarily) but the main difference between them is that they can be inventoried.

For example, a company that produces chairs can produce chairs during the week and then store them in a warehouse. But if a hotel only rents 30 of its 50 available rooms today, it cannot rent 80 rooms tomorrow, only 50. A service by definition cannot be inventoried, or stored for later use.

4 0
3 years ago
Brace Corporation uses direct labor-hours as the cost driver in its normal costing system. Brace budgeted that it would use 21,6
arsen [322]

Answer:

total estimated overhead costs for the period= $515,095.2

Explanation:

<u>First, we need to calculate the allocated overhead:</u>

Under/over applied overhead= real overhead - allocated overhead

20,440 = 506,920 - allocated overhead

allocated overhead= $486,480

<u>Now, we can determine the predetermined overhead rate:</u>

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

486,480= Estimated manufacturing overhead rate*20,400

Estimated manufacturing overhead rate= 486,480/20,400

Estimated manufacturing overhead rate= $23.847 per direct labor hour

<u>Finally, the estimated overhead for the period:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

23.847= total estimated overhead costs for the period/21,600

total estimated overhead costs for the period= 21,600*23.847

total estimated overhead costs for the period= $515,095.2

4 0
3 years ago
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