The adjusting entry for a prepaid expense includes a debit to a expense account and a credit to an asset account.
<h3>What is
adjusting entry ?</h3>
An adjusting journal entry can be described d as the entry in a company's general ledger which is been carried out at end of an accounting period in order to have the record of any unrecognized income or expenses.
It should be noted that The adjusting entry for a prepaid expense includes a debit to a expense account and a credit to an asset account.
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Answer:
The spending variance for food and supplies in March would be closest to $122 U
Explanation:
In order to calculate the spending variance for food and supplies in March we would have to use the following formula:
Spending variance = Budgeted cost - Actual cost
Budgeted facility expenses for actual tenant days = $7,500 + (4780*$4.10) Budgeted facility expenses for actual tenant days =$27,098
Actual facility expenses = $27,220
Therefore, Spending variance = $27,098 - $27,220 = $122 U
Spending variance = $122 U
The spending variance for food and supplies in March would be closest to $122 U
Answer:
B. The NFP is acting as an agent, receiving the contribution on behalf of another organization.
Explanation:
When the Not for profit organization acts as an intermediary then it would record the contribution it received from some organisation towards some different third organisation.
As the amount does not belong to Not for Profit organisation, and then it needs to further pay such amount to different party or organisation to which it belongs, and on behalf of which the Not for Profit organisation collected such amount.
Answer:
Premium pricing
Explanation:
Premium pricing is the strategy of charging a high price to maintain a brand, a business, a product or a product status . In this, the sales volumes remain small, by keeping prices high. This allows carefully sustaining the value, status, prestige and brand value.
So according to the given scenario, Katlin wants to expand into new markets and planning to charge a higher price as compared to the competitors so it reflects the concept of premium pricing
Answer: a. Computer-aided manufacturing
Explanation: A computer-aided manufacturing would help the robot manufacturing company in this regard since it can provide the required software to control the machine tools and processes needed in the manufacture of the multi-utility robots.
Computer-aided manufacturing (CAM) is defined as the use of software and computer-controlled machinery to automate a manufacturing process and is composed entirely of software that tells a machine how to make a product through the generation of toolpaths; a machinery that can turn raw material into a finished product and a post processing unit that converts toolpaths into machine languages. Computer-aided manufacturing thus provides high–speed machine tool paths that greatly minimize cycle times, reduce tool and machine wear and general improvement in quality and accuracy of cutting.
