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3 years ago

At the end of 2020, Vaughn Manufacturing made four adjusting entries for the following items:

Business

1 answer:

EastWind [94]3 years ago

3 0

Answer:

b. Entry No. 3 and No. 4

Explanation:

Based on the information given in order to facilitate the subsequent journal entries, the appropriate adjusting entry or entries that may be reversed is (are) 3. Interest payable of the amount of $6500 and 4. Rent receivable of the amount of $11000 which represent:

Entry No. 3 and No. 4

3. Interest payable, $6500

4. Rent receivable, $11000.

INTEREST PAYABLE can be seen or defined as the interest amount a company or an organization owed their lender or borrower which they are yet to pay the lender or borrower.

RENT RECEIVABLE can be seen or defined as the amount owed by a tenant which a landlord is supposed to received but has not yet been paid by the tenant.

Therefore In the normal situation, to facilitate subsequent entries, the adjusting entry or entries that may be reversed is (are) :Entry No. 3 and No. 4

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If Sharon's boss is interested in a graphical presentation of the relationship between the price and quantity of televisions sup

CaHeK987 [17]

Answer:

Supply Curve. Supply Schedule

Explanation:

A supply curve is a graph showing the relationship between price and quantity supplied. It slopes upward indicating a positive/direct relationship between price and quantity supplied. In this case, the higher the price of televisions, the more units of televisions will be supplied in the market. The supply curve is plotted from a supply schedule. This would be the suitable alternative if Sharon's boss was interested in a graphical presentation to analyse the quantity supplied of television in the market per given time period and price.

A supply schedule shows the relationship between price and quantity supplied using a given set of numbers/data. This would be the suitable option if Sharon's boss was more interested in a visual represenation of the quantity of television sold at given prices and particular time periods.

6 0

4 years ago

The temperature dropped 12°f in 8 hours. If the final temperature was -7°F what was the staring temperature

Allisa [31]

You just take the 12°-7° which would be 5° so the starting temperature was 5°F

8 0

3 years ago

A company reports 2021 pretax accounting income of $66 million, but because of a single temporary difference, taxable income is

Sergeeva-Olga [200]

Answer:

Income tax expense $1,000,000 Dr.

Deferred tax liability $7,750,000 Dr.

To income tax payable $8,750,000 Cr.

Explanation:

Given the following :

Pretax accounting income = $66 mollion

TAXABLE INCOME = $35 million

Tax rate = 25%

Income tax payable:

Income tax rate × taxable income

25% × 35,000,000

= $8,750,000

Deferred tax liability :

(pretax income - taxable income) × tax rate

($66 - $35) million × 25%

$31,000,000 × 25%

= $7,750,000

Income tax expense :

Deferred tax + income tax payable

$(8,750,000 - 7,750,000)

= $1,000,000

8 0

3 years ago

3. Nghiep gave his mother half of his weekly earnings, and then spent half of what was left on a new shirt. He then had $32. Wha

wel

Answer:

$128

Explanation:

Given: Nghiep gave half of his weekly salary to his mother.

Spent remaining half on a new shirt.

Finally he is left with $32

Lets assume Nghiep´s weekly earning be "x".

As given, Nghiep gave his mother half of weekly earning.

∴ Remaining earning= $x- \frac{x}{2}$

Taking LCD as 2

⇒ Remaining earning= $\frac{2x-x}{2} = \frac{x}{2}$

Hence, remaining salary giving half earning to his mother is $\frac{x}{2}$

Now, as given Nghiep spent half of what was left on a new shirt.

∴ Amount spent on shirt= $\frac{x}{2} \times \frac{1}{2} = \frac{x}{4}$

Next, finding the amount left with Nghiep after spending on shirt.

⇒ Amount left after spending on shirt= $\frac{x}{2} - \frac{x}{4}$

taking LCD as 4

⇒ Amount left after spending on shirt= $\frac{2x-x}{4} = \frac{x}{4}$

As given, Nghiep left with $32 after spending on shirt.

∴ We can form an equation for amount left with Nghiep after spending on shirt.

⇒ $\frac{x}{4} = 32$

Now, solving it to find the weekly earning of Nghiep.

⇒ $\frac{x}{4} = 32$

Multiplying both side by 4.

⇒ $x= 32\times 4$

∴ $x= \$ 128$

Hence, Nghiep´s weekly earning is $128.

6 0

4 years ago

"Steele Corporation uses a predetermined overhead rate based on machine-hours to apply manufacturing overhead to jobs. Steele Co

adell [148]

Answer:

B) $ 4.25

Explanation:

From the data provided in the question, we need to classify the items into manufacturing costs.

Salary of production supervisor $ 40,000

Indirect materials $ 8,000

Rent on factory equipment <u>$ 20,000</u>

Total manufacturing costs <u>$ 68,000</u>

Estimated Machine Hours 16,000

Manufacturing Overhead - $ 68,000/ 16,000 hours $ 4.25 per machine hours

The other items provided in the question, sales commission and advertising expenses are selling expenses and are not manufacturing costs.

6 0

3 years ago