1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
pav-90 [236]
3 years ago
9

What are the five main columns of a journal?

Business
1 answer:
inn [45]3 years ago
6 0
<span>The general journal is used to track categories of transactions and includes all company transaction. All </span><span>journal entries are recorded in the general journal.</span>
The five main columns of a journal are: date, account titles, posting reference, debit, and credit columns.
You might be interested in
Rostad Corporation applies manufacturing overhead to products on the basis of standard machine-hours. Budgeted and actual overhe
yanalaym [24]

Answer:

b. $1,419 unfavorable

Explanation:

The computation of the fixed manufacturing overhead volume variance is shown below:-

Fixed manufacturing overhead volume variance = Budgeted fixed overhead - standard fixed overhead

First we compute the computing the Budgeted Fixed overhead and Standard fixed overhead

Budgeted Fixed overhead = $14,310 + $13,600 + $57,230

= $85,140

Standard fixed overhead = Standard hours allowed for actual output × Overhead rate

= $6,490 × ($85,140 ÷ $6,600)

= $83,721

Now, we will put it into formula of Fixed manufacturing overhead volume variance =

$85,140 - $83,721

= $1,419 Unfavorable

7 0
3 years ago
Coal Train Mines paid $435000 for the right to extract ore from a 225000​-ton mineral deposit. In addition to the purchase​ pric
Nutka1998 [239]

Answer:

Coal Train Mines

Journal Entries:

A) Record the purchase of the mineral rights.

Date            Accounts               Debit          Credit

         Mineral Rights             $435,000

         Cash Account                                   $435,000

To record the purchase of the mineral rights.

B) Record the payment of fees and other costs.

Journal

Date Accounts                        Debit             Credit

        Fees and other costs    $71,250

        Cash Account                                      $71,250

To record $115 filing fee, $2,000 license fee, and $69,135 for geological survey.

C) Record the depletion for first-year production.

Journal

Date       Accounts                   Debit         Credit

Dec 31    Depletion Expense  $101,250

               Accumulated Depletion             $101,250

To record the depletion charge for the year.

D) Record the sales of ore.

Journal

Date    Accounts             Debit        Credit

           Cash                    $

           Sales Revenue                     $

To record the sale of 45,000 tons of ore

Explanation:

a) Depletion is an accrual accounting technique.  It allocates the cost of extracting natural resources such as timber, minerals, and oil from the earth by using the percentage of extracted resources over the total resources.  Depletion is a non-cash expense, like depreciation and amortization, that lowers the cost value of an asset incrementally through scheduled charges to the income statement.  While depletion is for natural resources, depreciation is for property, plant, and equipment, while amortization is used for intangible assets.

b) The total cost to be capitalized = $506,250 ($435,000 + $71,250)

c) Depletion charge for the first year = $101,250 (45,000/225,000 * $506,250).  Depletion per unit is $2.25

d) The selling price was not indicated, so no sales value was calculated.

e) Ending Inventory = $6,750 (48,000 - 45,000 * $2.25)

3 0
3 years ago
Find the present value that will grow to $45,000 if interest is 3.6% compounded monthly for 1 year.
Vaselesa [24]

Answer:

43,411.15

Explanation:

The formula for compound interest is

A = P(1 +I) ^n

From the question,

A = 45,000

P = Unknown

I = 0.036 ÷ 12

n = 1 * 12

Therefore,

45,000 = P(1 +0.036/12) ^1 *12

45,000 = P(1.003)^12

45,000 = 1.0365998P

P = 43,411.15

3 0
3 years ago
Mountain Dental Services is a specialized dental practice whose only service is filling cavities. Mountain has recorded the foll
Phantasy [73]

Answer:

The fixed cost, variable cost per unit and the total cost is $3,800, $4 per unit ,and $6,000 respectively

Explanation:

1. The computation of the variable cost per unit is shown below:

= (High total cost -  low total cost) ÷ (High number of cavities - low number of cavities)

= ($6,500 - $5,200) ÷ (675 - 350)

= $1,300 ÷ 325

= $4

2. The computation of the fixed cost is shown below:

Fixed cost  = total cost -  Variable cost

                  = $6,500 - (675 × $4)

                  =  $6,500 - $2,700

                  = $3,800

3. And, the total cost for 550 cavities would be equal to

= Fixed cost + variable cost

= $3,800 + (550 cavities × $4)

=  $3,800 + $2,200)

=  $6,000

3 0
3 years ago
True or false: stakeholders are individuals or companies that legally own a portion of the company and are not influenced by the
dimulka [17.4K]

It is a false statement that the stakeholders are individuals or companies that legally own a portion of the company and are not influenced by the actions of of that company.

<h3>Who are stakeholders?</h3>

These are investors that has a vested interest in a company and can either affect or be affected by a business' operations and performance. Some examples of a stakeholders includes investors, employees, customers, suppliers, communities, governments, trade associations etc.

However, It is a false statement that the stakeholders are individuals or companies that legally own a portion of the company and are not influenced by the actions of of that company.

Read more about stakeholders

brainly.com/question/15532995

#SPJ1

7 0
2 years ago
Other questions:
  • Last summer Rick worked at a shoe store where he was told there was a commission for selling more shoes so Rick worked really ha
    14·1 answer
  • Cheyenne Enterprises manufactures Nuts and Bolts from a joint process (cost = $90,000). Five thousand pounds of Nuts can be sold
    12·1 answer
  • As of the end of the year, Juliette Industries had $25,000 of raw materials inventory. At the beginning of the year, there was $
    10·1 answer
  • Where notes can be added?
    14·1 answer
  • Where can I get help for AS Accounting?
    9·1 answer
  • Pasha Company produced 50 defective units last month at a unit manufacturing cost of $30. The defective units were discovered be
    6·1 answer
  • Please help me ill give brainliest to anyone who does this right:3
    12·1 answer
  • Assuming no change in the nominal wage and a significant increase in human capital, the output per worker will
    12·1 answer
  • The Red Bud Co. pays a constant dividend of $1.20 a share. The company announced today that they will continue to do this for an
    9·1 answer
  • According to the text, the most logical budget-setting method in advertising is the ________ method.
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!