Answer: See explanation
Explanation:
Based on the information given, we are informed that the co-worker has recorded a cash receipt twice and wants the full time bookkeeper to record a correcting entry that will reverse the mistakes.
Before making a decision about the correcting entry, it is necessary to check the entry and cross check the balances for sales and cash. One has to also check the receipts and every other necessary details in order to make sure that the transaction is genuine and not fraudulent.
After the through check, if the person is sure and confident that everything is okay, then the correcting entry can be made.
Answer: option A: More competition for jobs in those areas are witnessed when federal programs provided more electricity in rural areas of the Midwest and South.
Explanation:
In the time of the Great Depression, President Roosevelt has passed the Rural Electrification Act (REA) in 1935 as part of the New Deal execution amendment. Through the beneficial act of supplied quantity of electricity units, the rural areas of the Midwest and South got the fine chance to expand the production of goods and services which covered the expenses of the cost of production.
Agriculture is the primary occupation of those areas, the electricity supply helped them to produce more agricultural products and also it supported Agro-based industries. The installation process are initiated and all farmers got loan advances by the cooperative societies.
Answer: $41,520
Explanation;
Equivalent units of production are used when some goods have not been fully processed but costs need to be attached to them. The incomplete ones will be converted to complete goods depending on how far along the production process they are.
Equivalent units for conversion costs = Transfers out during October + Ending WIP * Percentage completion
= 37,800 + (5,700 * 60%)
= $41,520
Answer: $
Retained earnings beginning balance 142,000
Net loss for the year <u>(14,000)</u>
128,000
Retained earnings ending balance <u> (122,000)</u>
Amount of dividend declared <u> 6,000</u>
Explanation: In order to calculate the amount of dividend declared, there is need to deduct the net loss for the year from retained retained earnings beginning balance. Thereafter, we also need to deduct retained earnings ending balance.
Answer:
$17.97 per unit
Explanation:
Using weighted average method, Equivalent units = Units that are completed during the period + Equivalent units in process at the end of period.
Equivalent units = 8,500 + 2,000*90%
Equivalent units = 8,500 + 1,800
Equivalent units = 10,300
Cost per equivalent unit for materials = (Beginning costs + Current costs) / Equivalent units
Cost per equivalent unit for materials = ($13,000 + $172,100) / 10,300 units
Cost per equivalent unit for materials = $185,100 / 10,300 units
Cost per equivalent unit for materials = $17.97 per unit
