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stellarik [79]
3 years ago
8

The journal entry to record the purchase of materials on account is a(n)

Business
1 answer:
Pani-rosa [81]3 years ago
8 0
Raw Materials Inventory $XX Accounts payable
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30 POINTS FOR BEST ANSWER!!!!
pochemuha
I'd definitely use paper products. Firstly they are less expensive than other types. Secondly it would save my factory money. According to usi.edu the construction costs of paper mills designed to use wasted paper is "<span>50 to 80% less than the </span>cost<span> of </span>a <span>mill using new pulp." Thirdly it is renewable because I could plant trees after I cut some down for my factory. </span>
6 0
3 years ago
The following information is available for the current year ending December 31:
Oduvanchick [21]

Answer:

Over/under allocation= $30,000 overapplied

Explanation:

Giving the following information:

Manufacturing overhead applied $150,000

The actual amount of manufacturing overhead costs 120,000

To calculate the ending balance, we need to determine whether the overhead was under or over applied:

Over/under allocation= real MOH - allocated MOH

Over/under allocation= 120,000 - 150,000= 30,000 overapplied

7 0
3 years ago
Oscar owns a building that is destroyed in a hurricane. His adjusted basis in the building before the hurricane is $130,000. His
Alinara [238K]

Answer: $132,000

Explanation:

Oscar's new basis on the building will be the basis of the old building plus any additional investment he added.

This is the because there is no gain on the $140,000 he received because it was an Involuntary Conversion amount and he reinvested it into another building within a period of 2 years.

As there is no gain, the building will retain it's original basis but will add any amount outside the involuntary replacement cost of the building.

The Additional basis will be,

= Cost of building - Insurance

= 142,000 - 140,000

= $2,000

The Basis for the new building is,

= 130,000 + 2,000

= $132,000

3 0
3 years ago
A firm evaluates all of its projects by applying the IRR rule. A project under consideration has the following cash flows: Year
Anna71 [15]

Answer:

18.49%

Explanation:

The internal rate of return is the discount rate that equates the after tax cash flows from an investment to the amount invested.

The IRR can be calculated using a financial calculator:

Cash flow in year 0 = –$28,500

Cash flow in year 1 = $12,500

Cash flow in year 2 = 15,500

Cash flow for year 3 = $11,500

IRR = 18.49%

To find the IRR using a financial calacutor:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. After inputting all the cash flows, press the IRR button and then press the compute button.

I hope my answer helps you

5 0
3 years ago
Read 2 more answers
1. According to the speaker, what are two ways to describe the future of money?
dsp73

Answer:

Hello! Your answer would be, BELOW

Explanation:

1. .“All Bills for raising Revenue shall originate in the House of Representatives; but the Senate may propose or concur with amendments as on other Bills.”

2. A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are decentralized networks based on blockchain technology—a distributed ledger enforced by a disparate network of computers.

3. Nakamoto. As of January 2018 , it is the most widely used alternative currency, now with the total market cap around 250 billion US dollars. Bitcoin has no central issuer; instead, the peer-to-peer network regulates bitcoins, transactions and issuance according to consensus in network software.

Hope I helped! Ask me anything if you have any questions. Brainiest plz!♥ Hope you make a 100%. Have a nice morning! -Amelia♥

7 0
3 years ago
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