Answer:
True
Explanation:
There are two columns in the trial balance, namely columns of debits and columns of credits. It is always important to balance the total debit and credit columns. The debit columns reflect assets and expenses side while sales, stockholder equity, and the liability side are listed in the credit column.
After passing the adjusting entries, the account balances are updated which we called a post-closing trial balance
So, the given statement is true
Answer:
Total equivalent units of material = 900
Explanation:
<em>Equivalent units are notional whole units which represent incomplete works are used to allocate cost to work in progress and completed units</em>
<em>Under the weighted average method of valuation, to account for completed units, it is assumed that the entire degree of work required is done in the period under consideration. So there is no separation of the completed units into opening inventory and fully worked. </em>
Equivalent unit = Degree of completion × units
Item units Equivalent units
Completed units 600 100% × 600 = 600
Closing inventory 300 100%× 300 = <u>300</u>
Total equivalent units of material <u>900</u>
Note simply because materials are added at the beginning of the process, it is assumed that all the quantity required would have been added. Hence the degree of completion for materials is 100% .
Answer:
$24,000
Explanation:
Since in the question it is given that the 3% of credit sales is considered to be a bad debt expense
where,
Credit sales is $800,000
And, the estimated percentage is 3%
So by considering this above information, the amount debited to bad debt expense is
= $800,000 × 3%
= $24,000
All the other information i.e to be given is not relevant. Hence, ignored it
Answer:
the correct answer is D, product market.
Explanation:
Answer:
1. Authorized shares = 300,000 shares
2. Issued shares = 160,000 shares
3. Outstanding shares
= Issued shares- Shares repurchased
= 160,000 - 25,000
= 135,000 shares
Explanation:
Authorized shares are shares that a firm is allowed by law to issue to the public.
Issued shares are shares that a company offers to the public for subscription.
Outstanding shares are shares remaining after the share repurchase.
