1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Evgen [1.6K]
3 years ago
11

Gullett Corporation had $37,000 of raw materials on hand on November 1. During the month, the Corporation purchased an additiona

l $86,000 of raw materials. The journal entry to record the purchase of raw materials would include a:
Business
1 answer:
Vlada [557]3 years ago
8 0

Answer: See explanation

Explanation:

The journal entry to record the purchase of raw materials is analysed below:

November:

Dr Raw materials $86000

Cr Cash or account payable $86000

It should be noted that as the raw material is increasing, the raw material account will be debited while as the cash or account payable I decreasing, it is credited.

You might be interested in
Fixed Overhead Spending and Volume Variances, Columnar and Formula Approaches
shutvik [7]

Answer:

Fixed Overheads Spending Variance = $5,000 Unfavorable(U).

Fixed Overheads Spending Variance = $20,000  Favorable (F).

Explanation:

Fixed Overheads Spending Variance = Actual Fixed Overheads  - Budgeted Fixed Overheads

                                                              = $305,000 -  $300,000

                                                              = $5,000 Unfavorable(U).

Fixed Overheads Spending Variance = Fixed Overheads at Actual Production  - Budgeted Fixed Overheads

                                                              = ($5.00 × 64,000) - $300,000

                                                              = $320,000 - $300,000

                                                              = $20,000  Favorable (F)

3 0
3 years ago
The economic system in which the state controls the economy is called
allsm [11]
State Capitalism or a Centrally Planned Economy
3 0
3 years ago
Which country has a Gross Domestic Product of about 8.5 trillion dollars?
horsena [70]
The answer would be : B. China

Japan has a  4.92 trillion Dollars of Gross Domestic Products
United states has a 16.77 trillion dollars worth of Gross Domestic Products
and
Russia has a 2.097 trillion dollars of Gross Domestic Products

That leave China as the correct answer
8 0
3 years ago
In 2010 the United States posted a current account deficit of -$471 billion. The bulk of the negative value came from: A. a good
Brut [27]

Answer:

A. a goods trade deficit

Explanation:

The current account represent the trade balance (export less import) plus

the net income (person receiving interest, rent or wages from aboard less person and companies paying foreingers) and

the direct payment. ( remittances from wroker to US)

As the US is one of the most open-economies in the world the mayority of this deficit comes from import of good and services from aboard.

Another factor, is that US company invest around the world thus, the net income should be positive.

And becuase the US economy is strong as opposite of Mexico or other Latin America countries, the average US employee abroard will not send their wages to support his family.

Thus, we should ensure the deficit comes from a negative trade deficit.

6 0
3 years ago
Ali’s company is being helped by the _____ role of the government.
Ilya [14]

Answer:

  • economic role (managing economic conditions)

8 0
2 years ago
Other questions:
  • In which of the following teams is leadership of most importance to coordinate the efforts of various teams in order to produce
    8·1 answer
  • A toothpaste manufacturer that bands two products together, selling two for the price of one, is using which type of consumer pr
    6·1 answer
  • Consider the following note payable transactions of Cabal Video Productions.
    7·1 answer
  • Xavier Co. wants to purchase a machine for $37,000 with a four year life and a $1,000 salvage value. Xavier requires an 8% retur
    12·2 answers
  • On January 1, Year 7, Colorado Corp. purchased a machine having an estimated useful life of 8 years and no salvage value. The ma
    7·1 answer
  • If a firm increases its sales and cost of goods sold while holding its inventories constant, then, other things held constant, i
    5·1 answer
  • Paper Clip Company sells office supplies. The following information summarizes the​ company's operating activities for the​ year
    6·1 answer
  • Exercise 10-16 The Sports Equipment Division of Harrington Company is operated as a profit center. Sales for the division were b
    7·1 answer
  • Which of the following is used by a seller to deceive a buyer? a. Bait and switch b. Contest c. Display d. Introductory offer Pl
    13·1 answer
  • Management of Wee Ones (WO), an operator of day-care facilities, wants the company's profit to be subdivided by center. The firm
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!