Answer:
Acme's current balance of accounts payable is $6000
Explanation:
The closing balance of accounts payable can be calculated using the opening balance and adjusting the changes during the period to the opening balance.
The closing balance can thus be calculated as:
Closing balance = Opening balance + Credit purchases - Payment to Accounts payable
Closing balance = 3000 + 4000 - 1000
Closing balance = $6000
I would say your answer is A.
Glad I could help, and good luck!
Answer: Credit to manufacturing overhead of $67000.
Explanation:
The journal entry to record the application of Manufacturing Overhead to Work in Process would be:
Debit Work in Progress $67000
Credit Manufacturing overhead $67000.
( To record the application of manufacturing overhead to work in process).
I think its D. hope this helps
