Answer:
Explanation:
In this the golden rules of accounting applies, debit the receiver, and credit the giver, debit all expenses and credit all incomes and gains.
1. The journal entry is
Accounts Receivable A/c Dr
To Revenue
(Being work performed is recorded)
2. The journal entry is
Cash A/c Dr
To Accounts Receivable
(Being cash received from customer is recorded)
3.The journal entry is
Office supplies A/c Dr
To accounts payable
(Being office supplies purchased on credit )
4.The journal entry is
Gasoline A/c Dr
To Cash
(Being purchase of gasoline is recorded)
The inventory valuation method that identifies each item in ending inventory with a specific purchase and invoice is the: Weighted average inventory method.
<h3>
What is Weighted average inventory method?</h3>
The COGS and inventory amounts are determined using a weighted average in the Weighted Average Cost (WAC) technique of inventory valuation in accounting. The weighted average cost method divides the price of the items up for grabs by the quantity of them. Under IFRS accounting as well as GAAP, the WAC approach is acceptable. Beginning inventory value plus acquisitions are used to compute costs of products that are offered for sale.
The number of units a business can sell, or the total number of units in inventory, is determined by adding the beginning inventory in units plus the purchases in units.
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Answer:
Economic factors directly impact business and are essential factors that can help or impede the organisation in accomplishing its targets. Financial factors that ordinarily influence organizations to incorporate wages, loan and banking transactions. Overall, micro and macroeconomic both factors play a crucial role in predicting and forecasting business dealings and there long-term stability and growth.
Explanation:
Some of the significant economic factors that influence businesses directly are exchange rate, interest rate, unemployment rate, inflation rate, monetary policy, fiscal policy, taxes and many other micro and macro variables factors undertake a critical job in assessing how the business will perform in long- run and how much profits they will make.
Interest rate directly affects the loan ratio, which is linked with banking transactions. Those businesses which are associated with banks and rely heavenly on taking out large loans are affected by the economic decision regarding interest rate fluctuations. The exchange rate has diverse effects of business; however, they significantly affect business which is linked with import and exports. Changing exchange rates may influence how a lot of an organization needs to pay to its global partners to fulfil them, which can influence overall revenues.
Taxes are an essential element of fiscal policies of the government which affect business, and usually, organisations make decisions by predicting next year’s fiscal policy. Increase in taxes negatively affects the revenue generation of businesses, and it affects their profitability. On the other hand, an increase in the gross domestic product (GDP) of a country positively affect businesses, and it helps businesses to go domestically, and globally it provides locals with job opportunities and more wealth generation for businesses. Furthermore, economic policy is also strongly linked with another all factors and play a vital role in overall business growth or decline in a country. In general, economics is an essential factor which can influence organizations. Although they relate to the economy on a broader scale, they significantly affect the inward activities of every business and organization.
Answer:
Direct materials cost per square foot= $4.25
Explanation:
Direct material costs represent the costs of all materials which are used essentially and wholly for the purpose of production of goods. These materials usually are those which form part of the product.
For example, flour and sugar are direct materials used for the purpose of producing of bread.
Direct material costs are charged directly to the product.
Direct labour cost : Direct workers are those who are actively engaged exclusively for the production of goods. They include machine operators in the factory, bakers in a bakery, e.t.c. Direct labour costs are charged directly to the product cost
Direct material cost per standard square foot
=$4.00 + $0.25
= $4.25
Direct materials cost per square foot= $4.25
B definitely b because why not
