Answer:
$6,450
Explanation:
The general ledger of a cash account is presented below:
Cash Account
Date Particulars Amount Date Particulars Amount
April 1 Beginning April 16 Rent expense $460
Balance $3,850
April 3 Service April 20 Salaries and
Revenue $3,400 Wages expense $340
April 30 Ending balance $6,450
The ending balance would be
= Beginning balance + service revenue - rent expense - salaries and wages expense
= $3,850 + $3,400 - $460 - $340
= $6,450
Answer:
$300
Explanation:
Data provided in the question
Assets reported = $500
Liabilities = $200
So, Stockholder equity is
= Total assets - total liabilities
= $500 - $200
= $300
By applying the accounting equation, that equal to
Total assets = Total liabilities + owners equity
We can find out the stockholder equity by deducting the total liabilities from the total assets
Answer:
Centralized production processing facility considers top management as the apex of decision making.
In decentralized production processing the decision making is delegated to teams and multiple individuals.
Explanation:
Centralized facility:
Pros:
a. In centralized facility top management commitment helps in improved decision making
b. Allocation of budgets to improve production processes.
c. The process becomes a part of strategic planning.
d. Standardization of processes like Mcdonalds kitchen.
e. Lower costs
f. Better forecasting
Cons:
a. Lack of flexibility
b. In case of international chains customers may be dissatisfied with standardized procedures
c. No room for customization
Decentralized Facility:
Pros:
a. Flexibility
b. Customer oriented approach
c. lack of bureaucratic procedure
d. quick decision making
Cons:
a. No standardization
b. Every Team has its own benchmarking process to evaluate performance.
c. Costly
d. Planning, budgeting and forecasting is effected adversely.
Answer:
June 10
Debit Purchases for $9,000: Gross method
June 30
Debit Discounts lost for $180: Net method
June 30
Credit Cash for $9,000 : Both methods
Explanation:
To Illustrate the required journal entries to record and pay for this purchase under the GROSS METHOD and NET METHODS by matching the action on the left with the method on the right using a PERIODIC INVENTORY SYSTEM.
June 10
Debit Purchases for $9,000: Gross method
June 30
Debit Discounts lost for $180: Net method
(2%*$9,000)
June 30
Credit Cash for $9,000 : Both methods
