At the end of the month, the adjusting journal entry to record the use of supplies would include a debit to:
A. Supplies and a credit to Supplies Expense.
B. Supplies and a credit to Cash.
C. Supplies Expense and a credit to Supplies.
D. Supplies and a credit to Service Revenue.
Answer: C
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Excluding important negative information about a candidate in a recommendation letter
A) is expected—otherwise no one would be able to get a good job. B) has led some employers to sue after hiring the candidate and discovering problems. C) is the only way to prevent the candidate from suing you. D) is okay, as long as you explain to the candidate that you are doing it. E) is okay—as long as you add a release from liability clause to the letter.
Products that have been started but are only partially complete at the end of the accounting period are known as
a. materials. b. work in process. c. finished goods. d. cost of goods sold.
A stock dividend, declared by a corporation's directors, is a distribution of additional shares of the corporation's own stock to its stockholders without any payment in return.
Answer the following statement true (T) or false (F)
Red Raider Company uses a plantwide overhead rate with machine hours as the allocation base. Next year, 400,000 units are expected to be produced requiring 1.2 machine hours each. How much overhead will be assigned to each unit produced given the following estimated amounts?Estimated:Department 1Department 2Manufacturing overhead costs$2,530,000 $2,752,000 Direct labor hours 168,000DLH 110,000DLHMachine hours 30,000MH 8,000MH
A. $22.68 per unit B. $19.00 per unit C. $166.80 per unit D. $139.00 per unit E. None of the choices