1. The journal entry to recognize depreciation on machinery would include a debit to Factory Overhead. debit to Accumulated Depreciation. credit to Factory Overhead. None of these choices are correct. 2. The journal entry to record the transfer from work in process to finished goods would include a debit to Work in Process. Finished Goods. Cost of Goods Sold. None of these choices are correct.

Answers

Answer 1

Answer:

1. The journal entry to recognize depreciation on machinery would include

= None of these choices are correct.

2. The journal entry to record the transfer fro work in process to finished goods would include a debit to

= Finished Goods.

Explanation:

a) The correct journal entry is a debt to Depreciation on Machinery and a credit to Accumulated Depreciation on Machinery.  However, when the Depreciation is being transferred to Work in Process, the debit goes to Work in Process with the credit going to the Depreciation on Machinery account.

b) The corresponding credit entry is a credit to Work in Process.


Related Questions

Find the payment that should be used for the annuity due whose future value is given. Assume that the compounding period is the same as the payment period. $120,000; monthly payments for 7 years; interest rate 7%. g

Answers

Answer:

$1,104.68  

Explanation:

The payment applicable to the future value of the annuity due can be determined using the future value formula for the annuity due provided below by rearranging the formula such payment is made the subject:

FV=monthly payment*(1+r)^n-1/r*(1+r)

FV=future value=$120,000

monthly payment=unknown(let us assume it is MP)

r=monthly interest rate=7%/12=0.005833333

n=number of monthly payments in 7 years=7*12=84

$120,000=MP*(1+0.005833333)^84-1/0.005833333*(1+0.005833333)

$120,000=MP*(1.005833333)^84-1/0.005833333*(1.005833333)

$120,000=MP*(1.629994009 -1)/0.005833333*1.005833333

$120,000=MP*0.629994009 /0.005833333*1.005833333

$120,000=MP*108.628973152

MP=$120,000/108.628973152

MP=$1,104.68  

BusCorp wants to introduce a new procedure to improve how customer requests are handled. This change will require employees to break old routines and adopt new role patterns. They decide to adopt two new programs, one in which employees learn how to work as teams as the company changes. The other involves forming task forces within the company to help determine ne customer service practices.
The formation of task forces to minimize resistance to change is known as:_______.
A. communication.
B. learning.
C. stress management.
D. negotiation.
E. employee involvement.

Answers

Answer:

E)Employee involvement

Explanation:

Employee involvement can be regarded as taking part of employees in decision-making process that are crucial to the organization, so that the goals of the organization are met. When employees there is involvement of employees in making decisions, there will be some professional as well as personal stake gained by the employee in the organization as well as the organization overall success. As a result of this there would be increased productivity in part of employees because they will take part actively in various aspects that will bring about success of the firm.

Sylvia mused to herself, "It has taken over 30 years, but I've finally been named CEO of a major firm. Now, I can concentrate on what I really want to do as a(n) ____________ manager, to focus on the survival, growth, and overall effectiveness of our firm."

Answers

Answer:

Strategic.

Explanation:

In Business management, a strategy can be defined as a set of guiding principles, actions and decisions that an organization combines so as to achieve its business goals, attract customers and possess a competitive advantage over its rivals in the industry.

Business strategy sets the overall direction for the business because it focuses on defining how a business would achieve its goals, objectives, and mission; as well as the funds and material resources required to implement or execute the business plan.

A manager can be defined as an individual who is saddled with the responsibility of providing guidance, support, supervision, administrative control, as well as acting as a role model or an example to the employees working in an organization by being morally upright.

A strategic manager is also referred to as a top-level manager and he or she is mainly focused on setting goals, objectives, and procedures in order to enhance the survival, growth, and overall effectiveness of a business firm.

Hence, Sylvia can concentrate on what she really want to do as a strategic manager, by focusing on the survival, growth, and overall effectiveness of our firm.

Jill and Kane, with their attorneys, meet to try to resolve a dispute. A neutral third party works with both sides and proposes a solution, but does not make a decision resolving the matter. This is:____.
a. arbitration.
b. negotiation.
c. mini-trial.
d. mediation.

Answers

Answer:

Option d: Mediation

Explanation:

Alternative dispute resolution (ADR)

This is simply known as other processes of managing or resolving conflicts than the use of traditional Court processes or litigation. There are three methods of ADR. it includes:

1. Negotiation

2. Mediation

3. Arbitration

Mediation

This is simply known as a type  of an ADR where a neutral third party helps to quickens the communication process between the conflicting parties so that they can work out their own mutually acceptable agreement.

Mediators

This are people who are part of the mediation. They are regarded as an unbiased facilitators of communication usually between the parties in a private setting.They do not decision-making power with respect to the outcome of the mediation. A neutral person in this case is regarded as an individual who is not in support of either party in the conflict and they are often called the mediator.

Arya has a homeowner’s policy that covers up to $400,000. Her house is completely destroyed in a fire. When an assessment is made of the house and possessions, it is decided that her losses are only worth about $350,000. How much money will Arya receive from her insurer (assuming there is no deductible)? A. $50,000 B. $200,000 C. $350,000 D. $400,000

Answers

Answer:

C: 350,000$

Explanation:

If there is no deductible then the insurance would pay the damges. Damages were 350,00$

calculator solutionvChang is investing $2,500 today and will do so at the beginning of each of the next six years for a total of seven payments. If her investment can earn 12 percent annually, how much will she have at the end of seven years

Answers

Answer: $28,249.25

Explanation:

As the payments are constant, this represents an annuity. Also, as the payment is made at the beginning of every period, it is an Annuity Due.

The value of the end of the 7 years is the future value of the annuity due which is found by:

= Annuity * Future value factor of an annuity, 7 years, 12%

= 2,500 * 11.2997

= $28,249.25

Monty Corp. has been in business for several years. At the end of the current year, the ledger shows: Accounts Receivable $ 326,200 Dr. Sales Revenue 2,761,700 Cr. Allowance for Doubtful Accounts 6,100 Cr. Uncollectible accounts are estimated to be 6% of accounts receivable. Prepare the entry to adjust Allowance for Doubtful Accounts. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Answers

Answer and Explanation:

The journal entry is shown below:

Bad debt expense Dr  $13,472

    To allowance for doubtful debts  $13,472

(Being the bad debt expense is recorded)

The bad debt expense is

= 6% of $326,200 - $6,100

= $13,472

Here the bad debt expense is debited as it increased the assets and credited the allowance for doubtful debts

The following estimates have been prepared for a project:Fixed costs: $27,000Depreciation: $18,000Sales price per unit: $4Accounting break-even: 50,000 unitsWhat must be the variable cost per unit

Answers

Answer: $3.10

Explanation:

Accounting breakeven = Fixed costs / Contribution margin

Fixed costs = Fixed costs + Depreciation = 27,000 + 18,000 = $45,000

50,000 units = 45,000 / Contribution margin

Contribution * 50,000 = 45,000

Contribution = 45,000 / 50,000

Contribution margin = 0.9

Contribution margin = Sales - Variable cost

0.9 = 4 - Variable cost

Variable cost = 4 - 0.9

= $3.10

In a process operation, each process has a separate department which will accumulate costs for each of the following: Multiple select question. administrative direct labor overhead sales direct materials

Answers

Answer:

overhead

direct labor

direct materials

Explanation:

Process operations can be regarded as process manufacturing it can be explained as mass production method that is been followed when producing products following a continuous flow.

It can be regarded conveyer belt system which brings about production of identical as well as standardized item with fast rate as regards the speed. It should be noted that In a process operation, each process has a separate department which will accumulate costs for ;

✓overhead ( ongoing costs that is gotten in operation of a business)

✓direct labor

✓direct materials

Express net income as a common-size percentage using the following data.

Sales $45,000
Cost of goods sold $29,340
Gross profit from sales $15,660
Operating expenses $10,800
Net income $4,860.

a. 100 percent
b. 31 percent
c. 12 percent
d. 10.8 percent

Answers

Answer:

i think the answers D 10.8 percent

April 1 April 30 Raw materials inventory $10,500 $13,500 Work in process inventory 5,350 3,770 Materials purchased in April $98,100 Direct labor in April 80,300 Manufacturing overhead in April 160,000 Prepare the cost of goods manufactured schedule for the month of April

Answers

Answer:

cost of goods manufactured= $336,980

Explanation:

First, we need to calculate the direct material used:

Direct material used= beginning inventory + purchases - ending inventory

Direct material used= 10,500 + 98,100 - 13,500

Direct material used= $95,100

Now, the cost of goods manufactured:

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

cost of goods manufactured= 5,350 + 95,100 + 80,300 + 160,000 - 3,770

cost of goods manufactured= $336,980

What is one result of competition in a free-market economy?
A. The government decides who is allowed to compete in the market.
B. Consumers can choose which company's products they want to
buy.
C. Traditional values determine who will compete in the market.
D. Businesses control the price that all the companies within an
industry can charge.

Answers

Answer:

b

Explanation:

A partial list of a corporation's accounts shows the following account balances: Retained earnings, $375,000 Treasury stock—common, $20,000 Paid-in capital in excess of par value—common, $60,000 Treasury stock—preferred, $20,000 Common stock, $200,000 Preferred stock, $175,000 Paid-in capital in excess of par value—preferred, $60,000 How much is total stockholders' equity?

Answers

Answer:

Stockholders' Equity

Common stock                                     $200,000

Preferred stock                                     $175,000

Paid-in capital in excess of par value

Common stock                                      $60,000

Preferred stock                                      $60,000

Retained earnings                                 $375,000

Treasury Stock

Common stock                                     -$20,000

Preferred stock                                     -$20,000

Total stockholders' equity                   $830,000

According to your reading material, one cause of excessive pressure is a/an __________.
a. overestimation of the severity of one’s own problems
b. lack of sleep
c. lack of self-confidence
d. lack of self-esteem

Answers

Answer: D

Explanation: A lack of self-esteem can lead to reliance others advice which can also lead to excessive pressure by the people your getting advice from.

d.

lack of self-esteem

May 31, Novac Corp. Has net sales of $415,000 in cost of goods available for sale of $286,000 compute the estimated cost of the ending inventory assuming the gross profit rate is 37%

Answers

Answer:

$24,550

Explanation:

Computation for the estimated cost of the ending inventory

Net Sales = $415,000

Gross Profit rate= 37%

Cost of goods Sold = 100%- 37% = 63%

Cost of Goods Sold =$415,000*63% = $261,450

Cost of Goods Available for sale = $286,000

Using this formula

Estimated Cost of Ending Inventory= Cost of goods available for sale - Cost of Goods Sold

Let plug in the formula

Estimated Cost of Ending Inventory = $286,000-$261,450

Estimated Cost of Ending Inventory = $24,550

Therefore the estimated cost of the ending inventory is $24,550

An organization's budget program should not be used: Group of answer choices to motivate employees. to assign blame to managers that do not meet budgetary goals. to help evaluate managers. to allocate resources to the various parts of an organization.

Answers

Answer:

to assign blame to managers that do not meet budgetary goals.

Explanation:

A budget is used to forecast a company's income and expenses over a specified period.

Uses of a budget

1. It is used to evaluate the performance of managers in meeting the amounts stated in the budget

2. It is also used in allocating resources to the various parts of an organization. for example, units that have been forecasted to earn a higher revenue would receive a higher part of the budget

3. It is used to develop an action plan for the organisation

Please tell whether inventory is beneficial or not for businesses with a large number of customers? Why?

Answers

Answer:

I don't know how it is possible

I think that Inventory is beneficial por a business with a large range of customers because, if they have no inventory then they have no products to sell to the consumers and that way they will begin to lose the customers.

A truck acquired at a cost of $195,000 has an estimated residual value of $10,200, has an estimated useful life of 56,000 miles, and was driven 5,000 miles during the year. Determine the following:

a. The depreciable cost $___________
b. The depreciation rate $__________ per mile
c. The units-of-activity depreciation for the year $__________

Answers

Answer:

a. $184,800

b. 3.3 per miles

c. 16,500

Explanation:

(a) Calculation to determine The depreciable cost

Depreciable cost =Cost - estimated residual value

Depreciable cost=$195,000- $10,200

Depreciable cost=$184,800

(b) Calculation to determine The depreciation rate

Depreciation rate = $184,800/useful life 56,000 miles

Depreciation rate =3.3per mile

(c) Calculation to determine The units-of-activity depreciation for the year

Units-of-activity depreciation =3.3per mile*5,000 miles

Units-of-activity depreciation=16,500

Therefore The units-of-activity depreciation for the year is 16,500

what is the good that you have selected?

Answers

Answer:

what do you mean by that

Explanation:

can you please explain more of the question

Suppose an economy starts the year with $100 million in capital, and during the course of a year, it adds $20 million of gross investment. Economists estimate that the depreciation rate for this economy is 9% per year.

Required:
a. Calculate depreciation and net investment for this economy.
b. Calculate the value of net exports.

Answers

Answer:

Correct word for question b. "Now calculate the amount of next year's beginning capital stock for this economy"

a. Begins the year with $100 million in capital. Depreciation rate is 9% per year

Depreciation = 9% * $100 million

Depreciation = 0.09 * $100 million\

Depreciation = $9 million

Gross investment = $20 million

Net investment = Gross investment - Depreciation

Net investment = $20 million - $9 million

Net investment = $11 million

b. Next year begining capital stock = Capital stock at the begining of previous year + Net investment

Next year begining capital stock = $100 million  + $11 million

Next year begining capital stock = $111 million

Fitness Fanatics is a regional chain of health clubs. The managers of the clubs, who have authority to make investments as needed, are evaluated based largely on return on investment (ROI). The company's Springfield Club reported the following results for the past year:

Sales $780,000
Net operating income $17,940
Average operating assets $100,000


The following questions are to be considered independently.

Required:
Compute the Springfield club's return on investment (ROI).

Answers

Answer:Springfield club's return on investment (ROI) is 17.94%

Explanation:

Return on investment (ROI) is given as the ratio of the net operating income to average operating assets and  expressed in percentage .

ROI = Net operating income / Average operating assets

Given that

Net operating income =$17,940

Average operating assets = $100,000

ROI = $17,940/ $100,000 = 0.1794, 17.94%

Therefore, the the Springfield club's return on investment (ROI) is 17.94%

A company has total revenue of $50,000,000, cost of sales of $40,000,000, operating expenses of $5,000,000, and financing costs of $2,000,000. What are earnings per share if the company has 100,000 shares outstanding and no preferred stockholders

Answers

Answer:

$30

Explanation:

Earnings per share = earnings / total outstanding shares

Earnings = total revenue - total cost

total cost = $40,000,000 + $5,000,000 + $2,000,000 = $47,000,000

Earnings = $50,000,000 - $47,000,000 = $3,000,000

Earnings per share = $3,000,000 / 100,000 = $30

Frank is a 60- year-old man who is well-loved in his community since he was a boy. He is someone who is outgoing, a party lover, and love to have fun hanging out with peers. Frank is confident about life. From an early age he knew exactly what he wanted to become, and now as a man, he is confident about his career and family and want to leave them a good life when he departs this life. Frank express that he is not afraid of dying but he wants them to be ok when he is gone.
At work Frank is helpful to his colleagues, and even in his community he is well-known among the elderly since he is always putting on Christmas treats for them.
Imagine that Frank is your colleague, and that your boss asks you to write a character reference for Frank. Using Jung’s personality theory to guide your writing, present a minimum one- page character reference in which you spell out Franks behaviour, his outlook on life, his philosophy about people and all the other important things you know about him. Ensure you point out how these different parts of Franks life fits into Jung’s theory and overall what Jung’s theoretical concept says about him.

Answers

Answer:

I had a friend named Frank. He is a good friend of mine.I know him for more than 40 years. He has been with me in all my struggles and my happiness.I am very lucky to have a friend like him. He is not only a good friend of mine he is a good human being.He is friendly and kind to all the people.He is a well behaved person and respectful for everyone he meet.From his childhood he has a burning desire to achieve in life.He studies well and gives 100% in whatever he do.He works passionate in whatever he does.I got all my confidence from him.He had supported my in all my studies and also motivated me to achieve in my life.He got a good family and supported his family and gave them the best as he can.Even after his death he made everything ready for his family so that they will not suffer from his loss.I have never met such a person in my life.I am very ,much thankful for them and really it is a nice platform for me to thank him and i am very happy to write about him.

Explanation:

I had a friend named Frank. He is a good friend of mine.I know him for more than 40 years. He has been with me in all my struggles and my happiness.I am very lucky to have a friend like him. He is not only a good friend of mine he is a good human being.He is friendly and kind to all the people.He is a well behaved person and respectful for everyone he meet.From his childhood he has a burning desire to achieve in life.He studies well and gives 100% in whatever he do.He works passionate in whatever he does.I got all my confidence from him.He had supported my in all my studies and also motivated me to achieve in my life.He got a good family and supported his family and gave them the best as he can.Even after his death he made everything ready for his family so that they will not suffer from his loss.I have never met such a person in my life.I am very ,much thankful for them and really it is a nice platform for me to thank him and i am very happy to write about him.

Botox Facial Care had earnings after taxes of $282,000 in 20X1 with 200,000 shares of stock outstanding. The stock price was $81.80. In 20X2, earnings after taxes increased to $418,000 with the same 200,000 shares outstanding. The stock price was $94.00.

Required:
a. Compute earnings per share and the P/E ratio for 20X1.
b. Compute earnings per share and the P/E ratio for 20X2.
c. Why did the P/E ratio change? (

Answers

Answer:The earnings per share and The P/E ratio  for 20X1 is $1.41 and  $58.01 respectively.

The earnings per share and The P/E ratio  for 20X2 is $2.09 and   $44.976 respectively.

Explanation:

a. Earning per shares = Earning after Taxes / total Shares outstanding  

                                  = $282,000/200,000  

                                   = $1.41

Therefore, The earnings per share for 20X1 is $1.41

P/E RATIO = Price Per shares/Earning per shares  

               = $81.80/$1.41  

                = $58.01

Therefore, The P/E ratio for 20X1 is  $58.01

b. Earning per shares = Earning after Taxes / total Shares outstanding  

                                  = $418,000/200,000  

                                   = $2.09

Therefore, The earnings per share for 20X2 is $2.09

P/E RATIO = Price Per shares/Earning per shares  

               = $94.00/$2,09  

                = $44.976

Therefore, The P/E ratio for 20X2 is  $44.976

c.The P/E ratio changed from $58.01 to $44.976 because of the change in earnings per share and the stock price per share.

A debit balance is the bank statement indicates?

Answers

Answer:

Bank Overdraf

Explanation:

Overdrafts are where the bank account becomes negative and the businesses in effect have borrowed from the bank.

A company is offering perpetual preferred stock (its dividend payments last forever) with a fixed annual dividend of $100. If your required rate of return on this investment is 12 percent, what is the value of each share

Answers

Answer:

833.33

Explanation:

The fixed annual dividend is $100

The required rate of return on this investment is 12%

Therefore the value for each share can be calculated as follows

= 100/(12/100)

= 100/0.12

= 833.33

Hence the value for each share is 833.33

ABC Bank requires a 20% down payment on all of its home loans. If a house
is priced at $145,000, what is the amount of the down payment required by
the bank?
A. $29,000
B. $290,000
C. $14,500
D. $18,000

Answers

$29,000

The equation used to find this is the following: 145,000 x .20

Hope this helps! Please make me the brainliest, it’s not necessary but appreciated, I put a lot of effort and research into my answers. Have a good day, stay safe and stay healthy.

NFL players and owners are trying to negotiate a new labor contract. The owners are getting ready to send the contract over to the players who can then choose to accept the terms or keep bargaining. The owners are deciding whether to stipulate 16 games or 18 games as part of the contract. They would prefer 18 games, but they are worried that the players will not accept the contract and will keep bargaining if they put 18 games in the contract. The situation is described by the sequential game tree below: In the Nash equilibrium, the owners will choose ____________ and the players will respond by choosing to _________________.

Answers

Answer:

The answer is "16 games; accept the terms".

Explanation:

In this case, the players will decide the strategy first, followed by the owners.

Participants will choose the Keep Bargaining strategy to maximize its reward in the subgame of Owners' 18 games. "As a consequence, and here is the outcome:"

Players will choose the Accept Terms strategy to maximize the reward in the subgame Players on Owners' 16 games. (350M) and (250M) are the results.

To get a larger payout of $350M, the Owner would have to select a strategy among 16 games. Nash equilibrium is ($350M, $250M) in this case. It implies that the Owner's strategy in Nash equilibrium is to play 16 games, while the Players' strategy is to accept Terms.

The only way to decrease your lifestyle budget is by completely eliminating an item.

True
False

Answers

Answer:

False

Explanation:

A budget is a financial plan used for the estimation of revenue and expenditures of an individual, organization or government for a specified period of time, often one year. Budgets are usually compiled, analyzed and re-evaluated on periodic basis.

The first step of the budgeting process is to prepare a list of each type of income and expense that will be part of the budget.

A lifestyle can be defined as the way and manner an individual chooses to live his or her life. Similarly, a lifestyle budget comprises the cost of goods and services an individual has chosen to spend his or her money on.

Basically, completely eliminating an item isn't the only way to decrease a lifestyle budget because there could be similar items that even cost way more than the eliminated item.

Some of the benefits of having a budget is that it aids in setting goals, earmarking revenues and resources, measuring outcomes and planning against contingencies.

Answer:

False

Explanation:

The only way to decrease your lifestyle budget is by completely eliminating an item.

True

False

Which 3 statements about the Client request functionality are correct? Selecting Create client request on the Work screen begins the process Checking the Notify client checkbox means the client will be sent an email You can't add attachments to a client request You can request documents from a non-QuickBooks Online client To update the status of a client request, select the request and then the Status drop-down

Answers

Answer: • Selecting Create client request on the Work screen begins the process.

• Checking the Notify client checkbox means the client will be sent an email.

• To update the status of a client request, select the request and then the Status drop-down.

Explanation:

QuickBooks refers to an online accounting software that's utilized by several businesses and can be used in the request of information from ones clients.

From the options given, the statements about the client request functionality which are correct include:

• Selecting Create client request on the Work screen begins the process.

• Checking the Notify client checkbox means the client will be sent an email.

• To update the status of a client request, select the request and then the Status drop-down.

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