The answer to this question is practical
Practical intelligence refers to people's capability in applying the knowledges that they have into real life situation.
In this particular case, Anwar already knew the effect of clothes depending on the weather, and he apply that knowledge in order to achieve a certain desired outcome
Answer:
D. Debit Sales Revenue for $140 and credit Cash for $140.
Explanation:
The journal entry to record the sale:
Dr Cash 3,500
Cr Sales revenue 3,500
Dr Cost of goods sold XY
Cr Merchandise inventory XY
The journal entry to record the allowance for the defective merchandise:
Dr Sales revenue (or sales returns and allowances) 140
Cr Cash 140
Sales returns and allowances account is a contra revenue account that decreases sales revenue. In this case, the company uses only sales revenue account which is reduced by debiting it.
Answer: d. The FTC’s Red Flags Rule
Explanation:
The Federal Trade Commission has a Red Flags Rules that requires that financial institutions like Banks should implement a program that is capable of flagging instances of suspicious activity that could point to identity theft in the covered accounts that it holds.
This bank's customers are seeing some suspicious activity in their checking accounts which could point to a case of identity theft. The Red Flags rule could therefore be the most relevant rule to the manager's discovery.
Answer:
$555,000
Explanation:
Calculation for the amount that will be reported for consolidated cash after the acquisition is completed
Cash at Kirkwood Inc $475,000
(900-400-15-10)
Add Cash at Soufflot Company $80,000
Consolidated cash after acquisition is completed $555,000
Therefore the amount that will be reported for consolidated cash after the acquisition is completed will be $555,000
Answer:
Explanation:
1. prime costs: direct materials+direct labour
= $22,000+$35,000
= $57,000
2. Conversion Costs= Direct labour + Manufacturing Overheads
= $35,000+ $17,500
= $52,500
3. Product Costs = direct material+ direct labour+ manufacturing overheads
= $22,000 + $ 35,000 + $17,500
= $74,500
4. Period Costs = Selling expenses+ administrative expenses
= $17,600 + $13, 400
= $31,000
If 13,750 equivalent units are produced, what is the equivalent material cost per unit = direct materials costs / unit produced
= $22,000/13,750
= $1.6 per unit
If 17,500 equivalent units are produced, what is the equivalent conversion cost per unit = total conversion costs/unit produced
= $52,500/17,500
=$3 per unit
