The best way to get a first-hand look at a job and its surroundings is ____

Victory Company uses weighted-average process costing to account for its production costs. Conversion cost is added evenly throu

son4ous [18]

I’m not sure if I understand this,

But I’ll try to figure this one out

Just give me some time

3 0

3 years ago

Sid purchased an automobile for personal

Aloiza [94]

Answer:

Part A. $1200

Part B. $1200

Explanation:

Part A.

Under MACRS rules, the depreciation rate for the 5 year recovery period asset would be:

Year 1 20%

Year 2 32%

Year 3 19.2%

Year 4 11.52%

Year 5 11.52%

Year 6 5.76%

This means that the first year MACRS depreciation deduction would be 20% which is $1200 ($6000 * 20%).

Part B.

If Sid does not elect Section 179 expensing then the depreciation would be calculated using straight line basis.

The depreciation would be:

Depreciaiton Expense = $6000 / 5 Years life = $1200

8 0

3 years ago

Jing-Sheng facilitated a hiring committee for his advertising company. Six employees (including two managers) met together to di

dedylja [7]

Answer:

The correct answer is D. participative.

Explanation:

Participation is nothing other than decision making among the subjects that integrate a task or project. It is a way of assuming roles and interacting in a context in which specific objectives have previously been set.

Participating implies consensus, debate, exchange of ideas, assumption of positions and, in some cases, negotiation. It is also diversity, openness, active listening, dialogue, inclusion and greater horizontality.

The participatory leadership model is quite useful for those processes that are not focused only on results. Also in cases where these are complex tasks that must have more than one opinion.

4 0

3 years ago

Sally is in the business of purchasing accounts receivable. Last year, Sally purchased an account receivable with a face value o

marusya05 [52]

Answer:

Sally’s basis in the Account Receivable is $60,000

She has a bad debt deduction of $0. There is no Bad debt deduction for Sally. Rather she made a profit on the transaction.

Explanation:

The Account Receivable can be defined as a Debt Instruments. Debt instruments in accounting are valued at Lower of Cost or Net Realizable Value.

Cost is the amount of cash or its equivalent that was expended to obtain an asset. The cost of this Account Receivable therefore is 60,000

Net realizable value (NRV) is the value that can be realized from the sale of an asset. Net Realizable value of the Account Receivable therefore is 80,000.

Therefore the value to be utilized as the value of the Account Receivable 60,000.

Below is the accounting entries to record the transaction and recognized profit.

For the Face Value of the Debt

Debit: Account Receivable Account(Debtors) 60,000.00

Credit: Account Receivable Purchase Account 60,000.00

For the payment of the A/R

Debit: Account Receivable Purchase Account 60,000.00

Credit: Bank 60,000.00

For the settlement received on the A/R

Debit: Bank 65,000.00

Credit: Account Receivable Account(Debtors) 60,000.00

Credit: Profit & Loss 5,000.00

8 0

3 years ago

The following information is available for Barnes Company for the fiscal year ended December 31: Beginning finished goods invent

weqwewe [10]

Answer: $57,000

Explanation:

Given that,

Beginning finished goods inventory in units = 0

Units produced = 7,000

Units sold = 5,100

Sales = $663,000

Materials cost = $140,000

Variable conversion cost used = $70,000

Fixed manufacturing cost = $490,000

Indirect operating costs (fixed) = $102,000

Total Variable cost of units produced = Materials cost + Variable conversion cost used

= $140,000 + $70,000

= $210,000

$Variable\ cost\ per\ unit = \frac{Total\ variable\ cost}{units\ produced}$

= $\frac{210,000}{7,000}$

= $30

Units in ending inventory = Units produced - Units sold

= 7,000 - 5,100

= 1,900

Value of Variable costing ending inventory = Units in ending inventory × Variable cost per unit

= 1,900 × $30

= $57,000

5 0

3 years ago

The best way to get a first-hand look at a job and its surroundings is _____.