Answer:
(a). supply expense = for both debit and credit = $370.
(b). Insurance expense= for both debit and credit sides = $130.
(c).Salary expense and salary payable = for both debit and credit sides = $1400
(d). Electricity expense =$ 250.
Explanation:
NOTE: Please check the attachment for the proper drafting of the adjusting journal entry.
The term "adjusting journal entry" is used in accounting to determine the the expenses for a particular period of time. The "adjusting journal entry" is needed for efficient and effective accounting record because it can also be used in the correction of an accounting record that had been recorded before that particular period of time.
Here in the "adjusting journal entry" there is going to be the debit side and the credit side for each accounts.
(a). The supply expense and the supplies = 600 - 230 = 370 for the credit and the debit sides.
(b). Insurance expense = $130.
(c). Salary expense and salary payable = 3500 × 2 / 5 = $1400.
(d). Electricity expense and expense payable = $250
$10 million should be added to net income.
<h3><u>
What is Accounting?</u></h3>
- Accounting is the process of documenting a business's financial transactions. These transactions are compiled, examined, and reported to oversight organizations, regulatory bodies, and tax collection organizations as part of the accounting process.
- A company's operations, financial condition, and cash flows are summarized in the financial statements that are used in accounting.
- They provide a succinct summary of financial transactions across an accounting period. One of the most important aspects of practically every firm is accounting.
- Small businesses may have a bookkeeper or accountant manage it, whereas larger corporations may have vast finance departments with many people.
- Management can make wise business decisions thanks to the information produced by many streams of accounting, including cost accounting and managerial accounting.
Know more about Accounting with the help of the given link:
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Answer:
Conversion Cost Equivalent units FIFO 39, 125
Explanation:
Beginning WIP 5,000 30% completed
transferred units 39,500
ending WIP 4,500 25% completed
<u>The equivalent units will be:</u>
the transferred units
- complete portion for the beginning WIP
+ complete portion of the ending WIP
transferred out 39,500
work in previous period
5,000 x 30% = (1,500)
worked but not complete
4,500 x 25% = <u> 1, 125 </u>
Equivalent units FIFO 39, 125
If the missing chart is the chart in my attachment, Ezra's opportunity cost if he decides not to expand is most likely the 4TH BENEFIT which is MAKE AND SELL MORE FOOD ITEMS.
I chose that option among the benefits because it is the benefit that clearly translates into dollar values by being potential sales revenue. If Ezra gives up the idea of expanding, he will lose his potential sales or the opportunity to sell and gain more profit.
Answer:
a. dynamic resource capability.
Explanation:
A company's competence of performing a activity depends on various factors. It depends on the production whether producing in vast quantities or small quantities, quality of the product, its inventory and stock, delivery at time, timely rendering service. All the factors leads to the success of the performing a certain activity. If these points are not fully satisfied at time, customers will run to the rival companies for the product or service. So having a strong dynamic resource and also the man force to complete all the required activity at time is the main criteria for the success of the company.
Thus the answer is a. dynamic resource capability.