An operational change is an exchange inside the structure of your corporation. That could be a reorganization, layoffs, or just a group alternate daily a strategic or task declaration trade. Operational changes are a number of the roughest in your personnel due to the fact they by no means quite understand daily.
Change is basically a variation within the common manner of doing things. every time people carry out a venture in a sure way, they get accustomed to them. They expand strategies which they could put into effect mechanically every day to reap those tasks. Any variation in those strategies is not anything however change.
An alternate is a venture, initiative, or solution being added to the agency to improve the manner work gets accomplished, clear up a problem, or take benefit of a possibility. Almost any project, initiative, or solution that improves a company will affect how employees do their work.
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Answer:
Bell inc should report $980,000 as the total amount of inventory at the end of the year.
Explanation:
Given information -
Inventory that were on hands - $830,000
Inventory that was in transit - $60,000
Inventory that was out on consignment - $90,000
Here for taking out the total inventory all of the given above items would be added .
Inventory that was in transit would be added because these f.o.b. goods would be considered transferred from seller to buyer as soon as they are shipped, so it doesn't matter if they're received two days after the inventory count , they will be added.
Goods which are sent on consignment would also be added because goods would remain in the name of consignor ( Bell inc ) until they're sold by consignee ( an agent who has been hired by Bell inc to sell its goods )
Inventory at end of year - $830,000 + $60,000 + $90,000
= $980,000
Answer:
journal entries to record the December transactions
1-Dec
Cash $10500 (debit)
Common Stock $10500 (credit)
1-Dec
Rent Expense $950 (debit)
Cash $950 (credit)
1-Dec
Prepaid Insurance $600 (debit)
Cash $600 (credit)
1-Dec
Equipment $3600 (debit)
Cash $3600 (credit)
5-Dec
Supplies Expense $300 (debit)
Accounts Payable $300 (credit)
15-Dec
Cash $7200 (debit)
Service Revenue $7200 (credit)
16-Dec
Accounts Receivable $5200 (debit)
Service Revenue $5200 (credit)
21-Dec
Cash $2400 (debit)
Accounts Receivable $2400 (credit)
23-Dec
Accounts Payable $170 (debit)
Cash $170 (credit)
28-Dec
Wages Expense $4480 (debit)
Cash $4480 (credit)
30-Dec
Dividends $200 (debit)
Cash $200 (credit)
Explanation:
The General Journal consists of Entries of Expenses, Capital Expenditures and Receipts and Payments in Cash.
Answer:
$7,312.50
Explanation:
The computation of the depreciation expense for 2017 is shown below:
Book Value is
= Cost - Accumulated Depreciation
= $150,000 - {[($150,000 - $24,000) ÷ 12 ] × 7y}
= $150,000 - [($126,000 ÷ 12 ) × 7]
= $150,000 - ($10,500 × 7)
= $150,000 - $73,500
= $76,500
Now the depreciation expense for 2017 :
= ($76,500 - $18,000) ÷ (15 - 7) years
= $58,500 ÷ 8 years
= $7,312.50
