Answer:
cash 1,000 debit
inventory 2,000 debit
land 5,000 debit
note payable 3,000 credit
Krug capital Account 5,000 credit
Explanation:
The land and inventories will be accepted at his market value.
Along with cash this are assets which enter the partnership so they are debited.
The note payable decreases the Krug capital contribution. It is credited.
Krug capital account balance will be to complete the entry and make debit = credit.
The correct entry to record the cash sales is
<span>Debit Cash $2058
credit Cash Over and Short $ 8
credit Sales $2050
The cash over and short will record the amount of cash that is not recorded during the initial transaction. Almost all stores experience cash over and short daily, and usually will be taken monthly from an account set aside by the stores to cover the mistake by its employees.
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Answer: segmentation
Explanation:
Market segmentation is when a business market that is made up of different customers is being divided, into smaller groups or segments based on some characteristics.
From the question, we are informed that XARA is a newly emerging wine company. After extensive market research, XARA divides its market into wine enthusiasts, casual drinkers and restaurants. Each category has its own needs, traits and marketing goals. In this scenario, XARA is using market segmentation.
Answer:
Option (b) is correct.
Explanation:
Given that,
Sales = 145,000 units
Desired ending inventory = 28,500 units
Beginning inventory = 21,750
Budgeted production in units for November:
= Sales + desired ending inventory - Beginning inventory
= 145,000 units + (190,000 × 15%) - 21,750
= 145,000 units + 28,500 - 21,750
= 151,750 units
Answer: a.Working to ensure that all variances are favorable.
Explanation:
Variance Analysis is an analysis of the difference between planned and actual numbers. For example of $599 was budgeted for bills but only $500 was paid, $99 would be the Variance.
Summing Variances up gives a picture of performance for a particular period of time in relation to if one has OVER -PERFORMED or UNDER-PERFORMED
The following are steps in Effective Variance Analysis Management
1. Identifying questions and their explanations
2. Preparing standard cost performance reports
3. Taking corrective and strategic actions
4. Computing and analyzing variances.
Option A is not included therefore it is the correct option.
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