What is input-output control?
What will be an ideal response?
Input-output control is a technique that allows operations personnel to manage facility work flow by tracking work added to a work center and its completed work.
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Financial resources such as cash and cash equivalents are intangible resources.
Answer the following statement true (T) or false (F)
Based on the unadjusted trial balance for Highlight Styling and the adjusting information given below, prepare the adjusting journal entries for Highlight Styling.Highlight Stylings' unadjusted trial balance for the current year follows:Highlight StylingTrial BalanceDecember 31Cash…………………………………………………. $ 2,200?Prepaid insurance …………………………………...1,680?Shop supplies .............................................................790?Shop equipment …………………………………….3,860?Accumulated depreciation-shop equipment ……….. ? $ 770Building……………………………………………...59,500?Accumulated depreciation-building………………..?3,840Land
………………….55,000?Unearned rent………………………………………..?2,600Long-term notes payable…………………………….?50,000Common stock ……………………………….?40,000Retained earnings ……………………………….?8,860Rent earned ………………………………………….?2,400Fees earned ………………………………………….?23,400Wages expense ……………………………………...3,200?Utilities expense ……………………………………690?Property taxes expense …………………………….600?Interest expense ……………………………………4,350________Totals ………………………………………………..$131,870 $131,870Additional information:a. An insurance policy examination showed $1,040 of expired insurance.b. An inventory count showed $210 of unused shop supplies still available.c. Depreciation expense on shop equipment, $350.d. Depreciation expense on the building, $2,020.e. A beautician is behind on space rental payments, and this $200 of accrued revenues was unrecorded at the time the trial balance was prepared.f. $800 of the Unearned Rent account balance was still unearned by year-end.g. The one employee, a receptionist, works a five-day workweek at $50 per day. The employee was paid last week but has worked four days this week for which she has not been paid.h. Three months' property taxes, totaling $450, have accrued. This additional amount of property taxes expense has not been recorded.i. One month's interest on the note payable, $600, has accrued but is unrecorded. What will be an ideal response?
A retailer that utilizes a form of organization that allows branch personnel to order merchandise classifies jobs through a geographic classification system
Indicate whether the statement is true or false
The following accounts and balances were drawn from the records of Barnes Company: Cash$4,500 Accounts receivable$2,700 Equipment$10,000 Accumulated depreciation$3,200 Accounts payable$2,800 Common stock$6,000 Based on this information alone the amount of Barnes's retained earnings is:
A. $17,200. B. $11,600. C. $5,200. D. None of these answers is correct.