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Lorico [155]
3 years ago
10

March 15 current year: Erin created a new inventory item named Birdbath April 20 current year: Erin bought 80 bags of mulch for

$640.00 June 12 current year: Erin bought 75 bags of mulch for $618.75 June 15 current year: Erin sold 125 bags of mulch to Woody's Weeds When creating the item, a beginning quantity of 25 and a cost value of $23.82 per unit was mistakenly entered. What is the effect on the General Ledger when Erin saves the new birdbath item?
Business
1 answer:
serg [7]3 years ago
3 0

The effect on General Ledger with the creation of the new inventory item "Birdbath" on March 15, when beginning inventory of 25 units at a cost per unit of $23.82 recorded by Erin, is the overstatement of the Ending Inventory by $595.50.

Data and Calculations:

Date            Description                   Units         Unit Cost     Total Cost

March 15    Beginning Inventory   25 bags       $23.82       $595.50

April 20      Purchase                      80 bags         $8.00       $640.00

June 12      Purchase                      75 bags         $8.25        $618.75

June 15      Sale                             125 bags

Ending inventory in units (correct balance) = 30 bags (155 - 125)

Ending inventory in units (per records) = 55 bags

Thus, the overstatement of the Ending Inventory by $595.50 makes the General Ledger balances to disagree.

Learn more: brainly.com/question/16508726

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If you started with $100 in the bank and you had $200 after letting it sit there for 5 years, what would be the annual interest
Paha777 [63]

The annual interest rate is 10 %.

Annual percent fee refers to the yearly interest generated with the aid of a sum it's charged to borrowers or paid to buyers. APR is expressed as a percentage that represents the real yearly price of price range over the time period of a mortgage or profits earned on investment If a man or woman borrows hundred rupees at one rupee interest, for instance, he needs to pay one rupee hobby in keeping with month. So in twelve months, he has to pay ten rupees.

Here,

let the annual interest rate is r

new amount = $ 200

for the  compound interest formula

new amount = initial amount * (1 + r)^time

200 = 100 * (1 + r)^7

solving for r = 0.104 = 10.4 %

the annual interest rate is 10 %.

Learn more about The annual interest rate here:- brainly.com/question/2699966

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5 0
2 years ago
Fiona is a manager who believes in Theory Y of leadership. What does she assume about her employees according to this theory? A.
icang [17]

Answer:

A. she assumes that the employees are lazy and just throw in some random ideas when they have discussion meetings about their new product/service or an upgrade of the organisation's product/service. therefore since she assumes that they don't actually think to help give ideas, she decides that it is best to scold them when they aren't trying their best.

B. she assumes that her employees are responsible enough to find a way to keep themselves entertained while finishing their tasks.

C. she dosent trust her employees yet to let them take control without her being needed since she may assume that they aren't experienced enough or responsible enough to take huge responsibility yet.

D. she assumes that since they want to leave early all the time, they may not like their job very much and would want to get out of the company as soon as possible since there would be a chance that they would be stopped to help with extra work.

8 0
3 years ago
Carla's business recently suffered an attack that shut down operations. What planning document describes how her business should
Kruka [31]

Answer:

A business continuity document

Explanation:

A business continuity plan document helps protect a business from the impact of potential crises that may affect their operations.

It is very important for small businesses to have this written document.

Carla's business continuity plan document should detail:

1. the key business functions needed to get operating as quickly as possible and the resources needed to do so if there's an attack.

2. identify potential crises that might affect the business and also determine how to minimise the risks of these disasters occurring.

Since training has been given to staffs before about their responsibilities in an emergency situation, they should apply what they've learnt.

For example, if there's a possibility for an attack that may affect power supply, Carla should put a back-up generator in place, in the event of a failure.

5 0
3 years ago
Case company allocates $5 overhead to each unit produced. the company uses a plantwide overhead rate with machine hours as the a
posledela

Let Department 2 Machine hours Be x, and using the equation below. 

<span>Find  ATQ : </span>

<span>          5= (440000 + 245000) / (74000 + x)</span>

          => 370000 + 5x = 685000

          =>x = 63000

 

Therefore, there are 63,000 machine hours that the company expects in Department 2.

<span> </span>

6 0
3 years ago
For the month of June, Mae Green budgeted the following amounts: $180 for food, $475 for rent, $15 for transportation, $50 for i
Vinil7 [7]

Answer:

No, she did not

Explanation:

In this question, we are asked to answer if Mae stayed within her budget, given her budget and the total amount she later spent.

To solve this problem, what we need to do is to add up all what she budgeted. Afterwards we add up all she spent. Then , we see the difference between the two to actually know if she stayed within her budget of not.

We proceed as follows:;

Let’s calculate budgeted amount: This is ; 180 + 475 + 15 + 50 + 65 + 25 + 150 + 30 = $990

Now, let’s calculate how much she later spent; That would be; 182 + 475 + 12 + 65 + 68 + 12.5 + 36 + 150 = $1000.5

We can see that she spent more that the amount she had budgeted. This means she didn’t stay within the total amount allocated for her budget

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