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Savatey [412]
2 years ago
9

Which of the following in not an example for safeguarding inventory? Group of answer choices Matching receiving documents, purch

ase orders, and vendor's invoices Storing inventory in restricted areas Physical devices such as two-way mirrors, cameras, and alarms Returning inventory that is defective or broken
Business
1 answer:
Tomtit [17]2 years ago
3 0

Answer:

returning inventory that is defective or broken

Explanation:

Inventory reffered to as set of finished goods/ products as well as other goods that are used in production. It is regarded as current asset on the balance sheet of a company. Inventory safeguarding is very essential in a company to keep them safe, there are some ways in which this can be done.

With the aid of technology such as security cameras which can record any form of theft, door alarms and others can protect inventory from both external/internal threats. Some of thers common examples for safeguarding inventory are;

✓storing inventory in restricted areas

✓physical devices such as two-way mirrors, cameras, and alarms

✓matching receiving documents, purhcase orders, and vendor's invoice

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On January 1, 2015, the company purchased equipment that cost $10,000. The equipment is expected to be worth about (or has a sal
anzhelika [568]

Answer:

1    

Dr Fixed asset equipment_________$10000    

Cr Cash_______________________________$10000    

purchased equipment    

   

2    

Dr Depreciation expense____________$1800    

Cr  Acummulate Depreciation_______________$1800    

Anual depreciation    

Explanation:

1    

Dr Fixed asset equipment_________$10000    

Cr Cash_______________________________$10000    

purchased equipment    

   

2    

Dr Depreciation expense____________$1800    

Cr  Acummulate Depreciation_______________$1800    

Anual depreciation    

5 0
3 years ago
You need some money today and the only friend you have that has any is your miserly friend. He agrees to loan you the money you
Serggg [28]

Answer:

The correct option is (b)

Explanation:

Given:

Monthly payment for 6 months = $30 per month

Time period = 6 month (6 periods)

Monthly interest rate = 2%

In order to compute borrowed amount, present value of these payments need to be computed which is an annuity as same amount of $30 is paid.

Checking PVIFA table for 2%, 6 periods, annuity factor is 5.6014.

Borrowed amount = Monthly payment × PVIFA(2%,6)

                            = 30 × 5.6014

                            = $168.042

Borrowed amount is $168.042 or $168.22 approximately (difference in value due to annuity factor being rounded off)

                         

6 0
3 years ago
6 . How shifts in demand and supply affect equilibrium Consider the market for pens. Suppose that the number of students with an
Tresset [83]

Answer:

Suppose that the number of students with an allergy to pencil erasers increases, causing more students to switch from pencils to pens in school.

  • This will shift the demand curve to the right, increasing the total demand at all price levels.

Moreover, the price of ink, an important input in pen production, has increased considerably.

  • This will shift the supply curve to the left, increasing the price of pens at every demand level.

What is sure is that the price of pens will increase. It is likely that the quantity demanded increases, but the extent by which the quantity demanded will increase is unknown.

5 0
3 years ago
Which of the following statements is true with regard to the departmental overhead rate method? a. It is logical to use this met
baherus [9]

Answer:

b. It is logical to use this method when overhead resources are consumed by various products in substantially different ways throughout multiple departments.

Explanation:

The departmental overhead rate method -

It refers to the expense rate charged for the specific department of the factory for the goods and services produced , is referred to as the departmental overhead rate method.

It is a type of some standard charge imposed for the particular activity produced, for each and every step of the production of the goods and service, until the final product is produced, at various level a specific rate is applied, i.e. , the departmental overhead rate method.

Hence, from the given information of the question,

The correct answer is b.

6 0
3 years ago
Heller Corporation has aged its accounts receivable and estimated uncollectible accounts as follows (in thousands). Age of Recei
AlexFokin [52]

Answer:

Current                      $11,000  19%  $2,090  

Past Due 30-60 days  $2,400  3%  $72  

Past due 61-90  days  $1,700  6%  $102  

                                            $2,264  

Dr Bad Debt Expense $ 2.264

Cr Allowance for Uncollectible Accounts $ 2.264

Explanation:

If the company applies the allowance method, it means that the account Allowance for Uncollectible Accounts must show as balance the % estimated of accounts receivables as CREDIT, this case $2,264 by the aging method to estimate uncollectible accounts.

Bad accounts are those credits granted by the company and there is no possibility of being charged.

"When customers buy products on credits but the company cannot collect the debt, then it's necessary to cancel the unpaid invoice as uncollectible."

One way is to directly cancel bad debts at the time it was decided that the credit is bad, the total amount reported as bad debt expenses negatively affect the income statement and the accounts receivable are reduced by the same amount, less assets .

The other way is to determine a percentage of the total amount of accounts receivable as bad debts, there are many ways to analyze accounts receivable and calculate the value of bad debts.

When the company has the percentage of uncollectible accounts, the required journal entry is Bad Expenses (debit) with Allowance for Uncollectible Accounts (credit)

At the time of cancellation, since the expenses were recognized before, we only use the Allowance for Uncollectible Accounts (Debit)  with accounts receivable (credit), with this we are recognizing the bad credit of the company.

4 0
3 years ago
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