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Dominik [7]
1 year ago
11

Accompanying a bank statement for Borden Company is a credit memo for $21,200 representing the principal ($20,000) and interest

($1,200) on a note that had been collected by the bank. The company had been notified by the bank at the time of the collection but had made no entries. Journalize the entry that should be made by the company to bring the accounting records up to date. If an amount box does not require an entry, leave it blank. Cash Notes Receivable Interest Revenue
Business
1 answer:
alexandr402 [8]1 year ago
7 0

Answer: Please refer to Explanation

Explanation:

The above transaction refers to a Note being collected by a bank on behalf of the company. This means that the company's cash balance has therefore increased leading to a journal entry of,

DR Cash $21,200

CR Note Receivables $20,000

CR Interest Revenue $1,200

(To record Note Received by Bank).

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Before prorating the manufacturing overhead costs at the end of 2020, the Cost of Goods Sold and Finished Goods Inventory accoun
AnnZ [28]

Answer:

$2069

Explanation:

Given

Applied overhead costs of Goods sold = $59,300

Applied overhead cost of finished goods = $38,000

Overhead Balance = $97,300

Overhead Cost = $92,000

Overapplied Overhead = Overhead Balance - Overhead Cost

Overapplied Overhead = $97,300 - $92,000

Overapplied Overhead = $5,300

Allocated Amount = (Applied Overhead * Finished Goods /(Overapplied Overhead)

Allocated Amount = ($5,300 * $38,000) ($59,300 + $38,000)

Allocated Amount = ($5,300 * 38,000) (97,300)

Allocated Amount = $2069

5 0
2 years ago
Read 2 more answers
It is reasonable to state that one object has twice as much of the attribute property when it has a score of 60 and the other ob
Lesechka [4]

Answer:

The correct answer is:

Ratio Scale

Explanation:

A ration scale of measurement is one that has equal units of measurement, and has an absolute value of zero. Measurements below the zero point on the scale is not possible. for example in the measurement of height in meters, the lowest measurement possible is 0 meter, a measurement of - 1 meter will make no mathematical sense. In this example, if a score of 60 is said to have twice as much attributes than a score of 30, it means that this attributes are measured from a reference zero point, because truly, 60 is twice as much as 30, from a zero point on a scale.

The other scales of measurements include;

nominal scale of measurement; which contains mainly categorical data and is mainly used in form of tags rather than showing magnitude or intervals. Example is grouping a group of adults into married, divorced or single.

Ordinal scale; this scale shows hierarchical series or ordered series, but does not show intervals between the elements. example is in classifying the positions of participants in a race as first, second or third etc. There is an ordering, as the first position is on top of the list, but it will now make sense to say the distance between the attribute of first to third position is the same as the distance between the attributes between third and fifth position, as there is no scale.

Interval scale; this scale of measurement does not have a limit zero value which represents the least possible point on a scale, but the intervals between different units on the scale can be compared logically. Example is the measurement of temperature using the Fahrenheit scale, where the temperature can go as low as - 20°F, below the zero point, and a distance of 3°F to 5°F can be said to be equal to a distance of 10°F to 12°F.

5 0
1 year ago
According to John Kotter, which of the following actions will adversely influence refreezing efforts?A) the absence of a visionB
dedylja [7]

Answer:

D) declaring victory too soon

Explanation:

John Kotter in this theory of leadership explains the concept and importance of change. He basically believes that the company shall be currently functional.

By the term currently functional he means that the company shall be updated and working on with the current market trend. This means the company shall not be resistant to change and that the management shall take a note of it.

Further in the moving scenario there is no freezing point - the company shall constantly work on the new things which it can improve and excel.

Thus, final confirmation cannot be made soon as towards the change made.

6 0
2 years ago
Brick-n-Go, a construction firm, is in need of a construction superintendent whose primary responsibilities involve organizing,
Masteriza [31]

Answer:

content validity

Explanation:

Content validity is a type of test that measures the conduct, knowledge, ability or capacity of the subject (in this case the job applicant).

Brick-n-Go is carrying out this test to measure the abilities and knowledge that the job applicants have regarding the recognition of real life construction errors.

6 0
1 year ago
The ability to manage ____ may be the most important skill a strategic leader must have.
-BARSIC- [3]
I would say B is the answer. :)
4 0
2 years ago
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