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creativ13 [48]
2 years ago
5

Sheffield Corporation incurred the following costs in 2020. Cost of laboratory research aimed at discovery of new knowledge $145

,000 Cost of testing in search for product alternatives 92,000 Cost of engineering activity required to advance the design of a product to the manufacturing stage 240,000 $477,000 Prepare the necessary 2020 journal entry or entries for Sheffield.
Business
1 answer:
Stells [14]2 years ago
8 0

Answer: Debit Research and Development expense $477,000

Credit Cash $477,000

Explanation:

The journal entry simply refers to the recording of transactions that a company makes and it should be noted that the total amount that's gotten in the debit column must be equal to the total amount that us gotten in the credit column.

Based on the information given in the question, the journal entry for Sheffield Corporation will be:

Debit Research and Development expense $477,000

Credit Cash $477,000

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I will gladly appreciate whoever answers this
Nastasia [14]

b  $163,440.00

BTW, it is currently around $250,000.00 per child!

4 0
3 years ago
Your co-worker, the operations manager of Blue Ocean Seafood Restaurants, has pointed out a slight decline in diners ordering an
cluponka [151]

Answer:

You agree that test marketing could be helpful, but you point out that it may also reveal your ideas to your competitors.

Explanation:

In the give scenario the existing famous cheesy butter biscuits sales are going down. In an effort to increase the revenue of the business the head of product development has a theory that people want lighter options today, and she has recommended test marketing a lower-fat version of the biscuits at select locations in eight major cities across the United States.

This is an innovative solution to the problem and the head of product development should be encouraged to drive the test marketing.

However marketing a lower-fat version of the biscuits at select locations in eight major cities will expose the strategy to competitors. It will be better to conduct the test in a more controlled environment away from competitors.

4 0
3 years ago
Which of the following statements generates the greatest amount of disagreement among economists? a. Increases in the money supp
rjkz [21]

Answer:

d. Government should use fiscal policy to try to stabilize the economy.

Explanation:

Suggesting that the government should use fiscal policy to try to stabilize the economy generates the greatest amount of disagreement among economists because the process of implementing fiscal policy usually experiences lag as it is being slowed down by the political system (bureaucracy) of checks and balances.

Fiscal policy is the use of government expenditures, revenues and tax policies to influence macroeconomic conditions such as employment, inflation and Aggregate Demand (ADl in a specific country.

The benefits of fiscal policy is that investments, savings and growth is usually influenced in the long-run while it basically influences aggregate demand for goods and services in the short-run.

5 0
3 years ago
The relationship between a product line and product mix is Multiple Choice there is no significant difference other than minor p
Mars2501 [29]

Answer:

product mixes include product lines.

Explanation:

The product line is a group of products that are interrelated as they satisfy the needs and also they are used together and are sold to the similar customer group via similar outlets

It involved the product line that are offered by the company

Therefore according to the given situation, last one is correct answer

And, the same would be relevant

4 0
3 years ago
Explain the relationship between the factors of production and how that creates a
Degger [83]

Answer:

Natural resources (land)

Labor  (human capital)

Capital (machinery, factories, equipment)

Entrepreneurship

Explanation:

nature is the first key of success like having a land to start up

labor is the teamwork needed support between all ( all for one, one for all)

capital is needed just like food, no money no business

Entrepreneurship: it depends on what is the idea of business you want, and how it really help the community  

7 0
3 years ago
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