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lina2011 [118]
3 years ago
10

Sheffield Company discovered the following errors made in January 2022.

Business
1 answer:
Tasya [4]3 years ago
4 0

Answer:

A)

1. Dr Cash 400

    Cr Equipment 400

Dre Wages expense 400

    Cr Cash 400

2. Dr Service revenue 550

    Cr Cash 550

Dr Cash 5,500

    Cr Service revenue 5,500

3. Dr Accounts payable 260

    Cr Equipment 260

Dr Equipment 620

    Cr Accounts payable 620

B)

1. Dr Wages expense 400

    Cr Equipment 400

2. Dr Cash 4,950

    Cr Service revenue 4,950

3. Dr Equipment 360

    Cr Accounts payable 360

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Stephen Thublin invests $1,000,000 in a 45-day certificate of deposit with 6.55% interest. What is the total interest income fro
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Answer:

$8187

The CD has a rate of 6.55%. This rate is always annual. then, the interest paid for a year is $65.500. (360 days)

As the CD has a term of 45 days only the final interest paid is $8187

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What was the reason for the financial crisis 2008?
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Tyare Corporation had the following inventory balances at the beginning and end of May:
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Answer:

The correct answer is option (b) $5400

Explanation:

Solution

Calculation of the cost of direct material on May 1

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The starting work In process inventory = Direct materials Cost  + Direct labor  Cost + Manufacturing overhead applied on W.I.P

13,500 = Direct materials cost  + 4500 + 3600

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Direct material cost = 13500 - 4500-3600 = $5400

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When is allocative efficiency of a product achieved?
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Entries for Direct Labor and Factory Overhead
iren2701 [21]

Answer and Explanation:

The journal entries are shown below:

a.

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Factory Overhead $12,500  

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(being the factory labor cost is recorded)

b.

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(being the factory overhead applied to production is recorded)

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