Answer:
DR Cash $589
DR Credit Card expense $31
CR Sales $620
<em>(To record sales via credit card)</em>
<u>Working</u>
Cash
= 620 * ( 1 - 5%)
= $589
Credit Card Expense
= 620 * 5%
= $31
Answer:
Estimated manufacturing overhead rate= $2.75 per machine hour
Explanation:
Giving the following information:
Overhead costs are estimated to total $348,425 for the year, and machine usage is estimated at 126,700 hours.
To calculate the estimated manufacturing overhead rate we need to use the following formula:
Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Estimated manufacturing overhead rate= 348,425/126,700= $2.75 per machine hour
Businesses decrease their incentives that will lead to minimizing their ability to carry out their part for social responsibility of the triple bottom line.
The bottom line is an obligation on businesses to not just look for their profit but include and maintain a good balance between these factors:
Similarly, businesses need to follow the Triple bottom line in these ways:
- Making sure that there is positive social welfare on their part.
- Maintain ecological footprint
Thus, by the looting of shops and malls, the ability of businesses to meet both their social responsibility and Triple bottom line is minimized and not as it was in normal conditions.
Learn more about social responsibility and Triple bottom line here: brainly.com/question/1339420
Answer:
overstated
Explanation:
Adjusting entry is a term used in the accounting process, which describes journal entries usually carried out at the end of an accounting period to assign income and expenditure to the period in which they actually happened.
However, the journal entry to identify a deferred revenue is to debit or increase cash and credit or increase a deposit or another liability account.
Hence, Failure to record the adjusting entry for deferred revenue now earned causes liabilities on the balance sheet to be what OVERSTATED
Answer:
c. goodwill is not amortized
Explanation:
The answer to this question is simply option c. Goodwill is not amortized
The reason for this is that the goodwill is accrued as a result of an entity paying more for an asset they acquired than what is supposed to be their fair value, putting its brand value into consideration. The Amortization of Goodwill is not something that is permitted . In order for a better accounting, the valuation of goodwill of entity should be done yearly so as to determine an impairment whenever it is required.