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Irina18 [472]
3 years ago
9

During the taking of its physical inventory on December 31,2008, Genesis company incorrectly counted its inventory as $126,000 i

nstead of the correct amount of $135,000.
Business
1 answer:
SCORPION-xisa [38]3 years ago
8 0

Explanation:

Given:

Wrong inventory needed = $126,000

Right inventory need to recorded = $135,000

Correct amount need to record = 135,000 - 126,000

Correct amount need to record = $9,000

Journal entry

Purchase A/c dr    9,000

To Credit or cash  A/c   9,0000

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Explanation:

The cost will be allocated to customer Y, if a cause-effect relationship cannot be established with any cost driver will be calculated thus:

Total sales = $600,000 + $400,000 + $200,000 = $1,200,000

The percentage of Y on total sales will be:

= $400,000/$1,200,000 × 100

= 1/3 × 100

= 33.33%

Therefore, the cost that's allocated to Y will then be:

= $600,000 × 33.33%

= $600,000 × 0.3333

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Therefore, the correct answer is $200,000

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satela [25.4K]
1.5 million distributors
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Explanation:

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6 0
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Assume that, on January 1, 2021, Matsui Co. paid $1,795,200 for its investment in 74,800 shares of Yankee Inc. Further, assume t
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Explanation:

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Answer:

D. outsourcing

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Outsourcing -

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