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Dmitriy789 [7]
3 years ago
5

When preparing the retained earnings statement, the beginning retained earnings balance can always be found a. in the general le

dger b. in the Income Statement columns of the work sheet c. in the statement of cash flows d. in the Adjustments columns of the work sheet
Business
1 answer:
marta [7]3 years ago
5 0

Answer:

a. in the general ledger

Explanation:

When preparing the retained earnings statement, the beginning retained earnings balance can always be found in the general ledger.

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applied vs. actual manufacturing overhead davis manufacturing corporation applies manufacturing overhead on the basis of 150% of
Mashcka [7]

Answer:

Subapplication of    22,500

journal entry:

WIP                   4,500 debit

finished goods 2,250 debit

COGS               15,750 debit

    factory overhead               22,500 credit

Explanation:

Direct Labor cost during the year:

60,000 + 30,000 + 210,000 = 300,000 direct labor

<u></u>

<u>Applied overhead:</u>

cost driver x predetermined rate

300,000 x 150% = 450,000

Actual overhead:   472,500

Subapplication of    22,500

as this is a significant amount we must adjust the WIP  inventory, cost of goods sold and fnished goods inventory

to know the adjustment on each account we calcualte each account percentage:

300,000   -->   22,500

60,000 --> 60,000/300,000 x 22,500 = 4,500 endingWIP

30,000 --> 30,000/300,000 x 22,500  = 2,250 finished goods

210,000--> 210,000/300,000 x 22,500 = 15,750 COGS

we do the adjuting entry to increase overhead and transfer into each concept

8 0
3 years ago
After segmentation, the customer group selected by a firm is referred to as the target market.
love history [14]
True. 

Segmentation allows a firm to break the customer market by different categories and groups, such as demographics, market location, age, gender, and more. The segmentation process uses data to help the firm choose its target market to capture the most value. The customer group selected is then the target market for the firm. 
7 0
3 years ago
What is the statement below an example of?
Ber [7]

"I am looking for a management position in a non-profit organization where I can apply my administrative and problem-solving skills to help protect the environment and endangered animal species."  C. Letter of interest

A letter of interest is also known as a letter of intent or a cover letter.  This type of letting outlines what type of job you are looking for and the experience you have that correlates.  A letter of interest is a more relaxed way to express your interest and skills compared with a resume.  Most employees require both a cover letter and a resume when applying for a position.

6 0
3 years ago
Read 2 more answers
What is the term for a business owned by one person?
irakobra [83]

Answer:

Sole proprietorship

Explanation:

Sole proprietorship: A sole proprietorship, also known as a sole trader, is owned by one person and operates for their benefit. The owner operates the business alone and may hire employees.

8 0
3 years ago
Read 2 more answers
All of the following characteristics are common to both monopolistic competition and perfect competition except:________
Dima020 [189]

Answer:

The correct answer is option d.

Explanation:

Monopolistic competition is the market where there is a large number of firms producing differentiated products. The firms are price makers and face a downward sloping curve. There is very low or no barriers to entry and exit.  

A perfect competition has a large number of firms producing identical products. These firms are price takers and face a horizontal line demand curve.  There are very low or no barriers to entry and exit.  

The firms in both market forms are trying to maximize profits. The market demand curve is also downward sloping in both. But the monopolistic competition produces differentiated products and firms are price makers.  

4 0
3 years ago
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