Answer:
Journal entries for the
Completion of Job 113
Debit Finished Good/Inventory Account $ 5000
Credit WIP JOB 113 Account $ 5000
(In words we will debit finished good account by shifting work in process related to the job 113 in it)
Journal entries for the
Completion and sale of Job 85
Debit Finished Good/Inventory Account $ 3000
Credit WIP JOB 113 Account $ 3000
For sales following two entries will be passed.
Debit Cost of Good Sold Account $ 3000
Credit Finished Good/Inventory Account $ 3000
Debit Cash (or Receivable if credit sale) $ 4500
Credit Sales Account $ 4500
Answer:
False
Explanation:
Buying coke by Glenn is an habit because he does not have to think before doing it. He does not even try to consider alternatives which could be as a result of his total satisfaction from coke. Habitual decisions need little to no conscious effort (reasoning) to make.
Cheers.
Answer:
One typical example of this linkage between the economy at the macroeconomic level, and business decisions at the macroeconomic and microeconomic level, is what happened with Lehman Brothers in 2008.
Explanation:
Lehman Brothers was one of the main investment banks in the United States. During the years prior to the financial crisis, Lehman Brothers decided to pursue a risky but profitable strategy of over leveraging -lending a lot more money than they had as deposits.
Once the financial crisis hit, a macroeconomic event, it affected the company at the macro and micro level. At the macro level because Lehman Brothers itself ceased to exist as it went bankrupt, and at the micro level, because it had to enter a process to pay off some debtors, and some of the employees who were laid off due to the dissolution of the firm.
Answer:
The amount to save now is = $862.03 (to 2 decimal places)
Explanation:
In order to solve this, we will compute the end-of-year amounts using the 5% increase each year. This is done as follows:
Year 1 ending = $200
Year 2:
Year 2 beginning price = $200
Note that 5% increase = 5/100 = 0.05
increase in year 2 = 5% of 200 = 0.05 × 200 = 10
Year 2 new price = 200 + 10 = $210
Year 3:
beginning price = $210
increase in year 3 = 0.05 × 210 = $10.5
Year 3 new price = 210 + 10.5 = $220.5
Year 4
beginning price = $220.5
interest in year 4 = 0.05 × 220.5 = 11.025
new price in year 4 = 220.5 + 11.025 = $231.525
Next to calculate the amount needed to pay for one travel ticket per year for the next four years, we will add the prices of the tickets each year as follows:
Total amounts needed = 200 +210 + 220.50 + 231.53 = $862.03
Answer:
$544
Explanation:
LIFO means last in first out. It means it's the last purchased inventory that is the first to be sold.
The cost of the 250 units sold would be first deducted from the inventory purchased on the 25th
= 100 × 2.34 = $234
That leaves 250 - 100 = 150 units.
The cost of goods sold would be next allotted to the inventory purchased on the 9th
= 50 × 2.20 = $110
This leaves 150 - 50 = 100
The cost of the 100 would be alloted to the beginning inventory
100 × $2 = $200
Total cost of goods sold = $200 + $110 + $234 = $544
I hope my answer helps you
