Answer:
Decrease (debit) in equity, Cash Dividends Payable (credit, liability account)
Explanation:
The journal entry to record the declaration of the cash dividends involves a decrease (debit) to Retained Earnings (a stockholders' equity account) and an increase (credit) to Cash Dividends Payable (a liability account).
(opentextbc.ca)
Answer:
$80,000
Explanation:
Calculation to determine what the amount of variable administrative cost to allocate to Department 1 would be
Variable administrative cost to allocate to Department 1=(40,000 ÷100,000) x $200,000
Variable administrative cost to allocate to Department 1=0.4×$200,000
Variable administrative cost to allocate to Department 1= $80,000
Therefore The Variable administrative cost to allocate to Department 1 would be $80,000
In the united states, the average person mostly patronizes firms that operate in Monopolistic Competitive Market.
Monopolistic Competitive Market is a kind of market structure where numerous associations are accessible in an industry, and they produce relative yet isolated things.
None of the association participate in a partnership, and every association work unreservedly no matter what the engaging quality of various association. The market structure is a type of Imperfect Competition.
Imperfect Competition alludes to the circumstance where the characteristics of a market don't satisfy every one of the essential states of an entirely serious market and consequently, it cause market weaknesses when it ends up actually working, and bringing about market disappointment.
To learn more about Monopolistic Competitive Market.
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Answer:
B. debit to WIP inventory
Explanation:
The journal entry to record the usage of direct material in production is
Work in Process Inventory Dr.
To Raw Material Inventory
(Raw materials consumed recorded)
Raw material inventory is an asset. It's consumption should reduce it's balance. A debit increases an asset's balance while a credit reduces it's balance.
Work in process, like raw material is an inventory account i.e an asset. A debit increases their balance whereas a credit reduces it.
Here, raw materials i.e direct material have been issued for production, which would reduce their balance and increase the balance of work in process as finished goods are yet to be made.
Answer:
C. Meeting the needs and wants of customers.
Explanation:
An organization should be able to produce products that will meet the need of the customers compare to what competitors can offer.
Before a company can produce anything, it must first of all check the need of the customers. After checking and knowing the needs, the company can then proceed to produce goods that meet and satisfy those customers need.
Although, the main reason why companies engage in business is to make profit,marketing concept helps firms to sell their products because it is an important means to achieving sales and profit.
