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Karolina [17]
3 years ago
7

[The following information applies to the questions displayed below.]

Business
1 answer:
makvit [3.9K]3 years ago
8 0

Answer:

A. Dr Raw meat Inventory 120,000

Cr Cash 120,000

B. Dr Indirect Materials $186,000

Cr Raw Materials $186,000

C. Dr Direct Materials $15,000

Cr Raw Materials $15,000

Explanation:

Preparation for the journal entries for the above transactions for the month of May.

Dr Raw meat Inventory 120,000

Cr Cash 120,000

(Being to record Raw materials purchases for cash)

B. Dr Indirect Materials $186,000

Cr Raw Materials $186,000

($201,000 - 15,000)

C. Dr Direct Materials $15,000

Cr Raw Materials $15,000

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The Arkansas Company makes and sells a product called Product K. Each unit of Product K sells for $39 dollars and has a unit var
ioda

Answer:

$36,020.40

Explanation:

The computation of cash balance is shown below:-

Excess of cash receipts over disbursement = Beginning cash balance + Cash receipts - Cash disbursement

= $64,500 + $1,302,200 - $1,310,000

= $1,366,700 - $1,310,000

= $56,700

Interest = X × 0.02

Cash balance at end = Excess of cash receipts over disbursement + Borrowing - Interest

$92,000 = $56,700 + X - 0.02x

$92,000 - $56,700 = 0.98x

X = $35,300 ÷ 0.98

= $36,020.40

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3 years ago
All of the following would be considered closing costs except for: a) A title search b) Cost of repainting the kitchen before mo
otez555 [7]
B/ <span>Cost of repainting the kitchen before moving in</span>
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Jinnah Company applies overhead on the basis of 200% of direct labor cost. Job No. 501 is charged with $180,000 of direct materi
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Answer:

The correct answer is $540,000

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3 years ago
The organized effort of individuals to produce and sell, for a profit, the products and services that satisfy society's needs th
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Answer:

E-business

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E-business is a general term that incorporates all types of utilizing electronic data and communication developments to help and streamline business forms. Interestingly, internet business web-based exchanging of items and benefits. E-business technique has helped customers to purchase whatever they want by just one click, and it has facilitated new small enterprises to start businesses at a low operational cost.

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Rauch Incorporated leases a piece of equipment to Donahue Corporation on January 1, 2017. The lease agreement called for annual
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Answer:

PART-1)

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Four periodic lease payments ($18,213 /3.72325)  = 4,892

PART-2)

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Debit: Cash  = 4,892

Credit: Unearned Lease Revenue  = 4,892

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Debit: Unearned Lease Revenue  = 4,892

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Debit: Depreciation Expense  = 3,333

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