Answer:
they are debited to a Work in Process account
Explanation:
The journal entry to record the assignment of manufacturing overhead costs to production in a process cost system is done as follows:
Work - In Process (debit)
Overheads (credit)
Answer:
I prepared an amortization schedule using an excel spreadsheet. The original monthly payment was $836.44. After the 120th payment, the remaining principal balance was $68,940.64. Since she didn't pay anything for 1 year, the new principal balance will be $68,940.64 x (1 + 8%) = $74,455.89
I prepared another amortization schedule for the remaining 9 years, and the monthly payment is $969.32. She will pay off the loan in 108 months.
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Yes, email would be a good choice of telling an employee that his/her sales have not been good.
As just sending a simple email is easy, fast and efficient and it gets the word to that employee as quick as possible
Answer:
$19,200
Explanation:
Given
Cost of equipment = $72,000 Date of purchase = January 1, 2021.
Useful period = 5 years
Residual value = $6,000
Annual depreciation using straight line method
= ($72,000 - $6,000)/5
= $66,000/5
= $13,200
Annual depreciation using the double declining method
= $13,200 * 2
= $26,400
By December 31, 2022, 2 years depreciation would have been computed on the asset, hence
Book value at December 31, 2022 = $72,000 - 2($26,400)
= $72,000 - $52,800
= $19,200
Answer:
$12,614.
Explanation:
We have been given that a food producer in the Czech Republic offers to pay you 2.1 million Czech koruna today in exchange for a year's supply of frozen shrimp. The current competitive market exchange rates are 25.29 koruna per dollar.
Therefore, the value of this exchange to you would be $12,614.
