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Phantasy [73]
3 years ago
8

Identify accounts by category and financial statement(s). Listed here are a number of financial statement captions. Indicate in

the spaces to the right of each caption the category of each item and the financial statement(s) on which the item can usually be found. Use the following abbreviations:
Category Financial Statement
Asset A Balance Sheet BS
Liability L Income Statement IS
Owners' Equity OE
Revenue R
Expense E
Gain G
Loss LS

Accumulated depreciation _____ ______
Long-term debt _____ _____
Equipment ______ ______
Loss on sale of short-term investments _____ ______
Net income _____ _____
Merchandise Inventory _____ _____
Other accrued liabilities _____ ______
Dividends paid _____ _____
Cost of goods sold _____ _____
Additional paid-in capital _____ _____
Interest income _____ _____
Selling Expense _____ _____
Business
1 answer:
Nikitich [7]3 years ago
5 0

Answer:

Category Financial Statement

Asset A Balance Sheet BS

Liability L Income Statement IS

Owners' Equity OE

Revenue R

Expense E

Gain G

Loss LS

Accumulated depreciation A-BS

Long-term debt L-BS

Equipment A - BS

Loss on sale of short-term investments LS- IS

Net income G- IS

Merchandise Inventory A- BS

Other accrued liabilities L- BS

Dividends paid E- IS

Cost of goods sold E- IS

Additional paid-in capital OE- BS

Interest income R- IS

Selling Expense E-IS

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aleksley [76]

Answer:

D. It is cheaper to produce some goods in the U.S. because productivity is higher here.

Explanation:

If the statement ​"It has been all downhill for the West since China entered the world​ market; we just​ can't compete with hundreds of millions of people willing to work for almost​ nothing." Fails to connect wages and productivity, it means that despite China having many people willing to work for low wages it does not mean they are more productive.

Productivity is defined as how effectively a production process is. It is the ratio between output and input used.

If China has low productivity with the large workforce it has, it will be cheaper to produce goods in the United States that has a higher productivity.

The United States will be able to maximise inputs used in the production process to give higher output.

4 0
3 years ago
"Tina withdraws $20,000 from her money market account to start up her own house cleaning business. Over that time, the account w
lions [1.4K]

Answer: the opportunity cost of $600

Explanation:

From the question, we are informed that Tina withdraws $20,000 from her money market account to start up her own house cleaning business and that over that time, the account would have earned 3 percent interest.

In order to properly account for all costs of her business, Tina must not forget the opportunity cost of $600. This is calculated as 3% of $20,000.

The opportunity cost is what Time had to forgoes in order to start her business.

7 0
3 years ago
The Work in Process inventory account of a manufacturing firm shows a balance of $3,000 at the end of an accounting period. The
Effectus [21]

Answer:

Overhead rate= 1.2

Explanation:

Giving the following information:

The Work in Process inventory account of a manufacturing firm shows a balance of $3,000 at the end of an accounting period.

Direct material= $500, & $300

Direct labor= $400 & $600

Manufacturing overhead =?

Work in process= direct material + direct labor + manufacturing overhead

3000= 800 + 1000 + MOH

3000-800-1000= MOH

1200= MOH

Overhead rate= moh/direct labor

Overhead rate= 1200/1000= 1.2

3 0
3 years ago
Carter County entered into a capital lease to finance an Emergency-911 telecommunications system. The capitalized cost of the eq
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Answer:

The second option

Explanation:

Expenditures

Other Financing Source

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$160,000

25,000

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3 years ago
Stephani Corporation has provided data concerning the Corporation's Manufacturing Overhead account for the month of May. Prior t
VashaNatasha [74]

Answer:

the manufacturing overhead for the month should be overapplied by $16,000

Explanation:

Given that

The debit to the manufacturing overhead is $53,000

And, the credit balance is $69,000

So, it should be overapplied by the

= $53,000 - $69,000

= $16,000

Therefore the manufacturing overhead for the month should be overapplied by $16,000

This is the answer but the same is not provided in the given options

7 0
3 years ago
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