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2 years ago

Describe the reason that accrued expenses often require adjusting entries but not in every situation. g

Business

1 answer:

Mkey [24]2 years ago

7 0

Answer:

Following are the solution to the given question:

Explanation:

Accrued Expenses:

The expenses accumulated were costs pending only at the conclusion of the financial day to be paid. Your financial reports would be made around an accrual basis, meaning the revenue would be booked appropriately without receiving the money. Likewise, the costs incurred during the existing fiscal year will be booked irrespective of if they're not paid.

Usually, know that such a cost is incurred only at end of the fiscal year until we have been paid.

When at the conclusion of a fiscal year we won't receive this bill, therefore the costs will have to be modified directly. In case the payment is not received.

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Flagler Corporation takes eight hours to complete the setup process for a certain electrical component, with the setup cost aver

marshall27 [118]

Answer:

The question is missing the below options:

$0.

$150.

$300.

$900.

$1,200.

The answer to the question is $300

Explanation:

In determining the amount of non-value adding cost,Flagler number of hours used in setup process is compared to that of its competitor.As a result of comparison, it came to light that Flagler used two more hours in setup process.

The extra hours do not necessarily make Flagler better,instead it makes worse off, as extra $300(2hrs*$150) would have to be incurred without any benefits derived.

This extra costs that do not make the organization better off and do not add value,so it the non-value adding costs.

(8hrs-6hrs)*$150=$300

3 0

2 years ago

Taylor Company has $10,000 of assets, $2,000 of liabilities, and $5,000 of common stock. Based on this information alone, the co

Citrus2011 [14]

Based on this information alone, the company's retained earnings equal $3,000.

<h3>Retained earning</h3>

Using this formula

Retained earning= Assets-liabilities-Common stock

Where:

Assets=$10,000

Liabilities=$2,000

Common stock=$5,000

Let plug in the formula

Retained earning=$10,000-$2,000-$5,000

Retained earning=$3,000

Inconclusion the company's retained earnings equal $3,000.

Learn more about retained earning here:brainly.com/question/25631040

3 0

2 years ago

Hairston Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets a

aleksandrvk [35]

Answer:

Amount in flexible budget of cost of direct material for the month of November shall be $93,456

Explanation:

Flexible budget is the budget prepared based on actual level of output, in relation to standard cost as estimated.

Here, for the month of November

Actual activity = 7,920 units

Standard material cost = $11.80 per unit

Amount in flexible budget based on actual quantity of output shall be

7,920 $\times$ $11.80 = $93,456

Actual cost = $93,926

Therefore, amount in flexible budget of cost of direct material for the month of November shall be $93,456

5 0

3 years ago

Net requirements for component J are as follows: 60 units in week 2, 40 units in week 3, and 60 units in week 5. If a fixed-peri

Damm [24]

Answer:

100 units

Explanation:

Given the following net requirement for component J:

60 units in week 2

40 units in week 3

60 units in week 5

Lot sizing involves determining the amount or quantity of items which needs to be ordered or produced. There are various lot sizing techniques. However, the fixed period requirements involves choosing a fixed number of period for determining the number of orders of each item to make. The net total number of units is then calculated, this gives the total quantity of planned receipt or requirement.

Hence, the quantity of the first planned receipt will be :

Units in week 3, then units in week 5 (2 - period interval)

Net total = (40 + 60) units = 100 units

3 0

2 years ago

According to the table what has the investor done with money earned through interest?

vfiekz [6]

Incomes comes in the shape of interest payments, in the case of a bond, perquisite, in the case of stock.
Interest payments on bonds are meant to be steady and trusty-when a bond does not catch it payments, it is in dereliction.

6 0

3 years ago