A factor held constant to test the relative impact of the independent variable is known as a:

Purple Corporation has accumulated E & P of $100,000 on January 1, 2019. In 2019, Purple has current E & P of $130,000 (

Lostsunrise [7]

Answer:

The E & P ($20,000)

Explanation:

E & P January 2019 $100,000

For the year E & P $130,000

Closing E & P December 31,2019 $230,000

Less: Dividends paid ($250,000)

Net Deficit in earnings ($20,000)

Although dividends are always paid to the extent of retained earnings but in this question, dividends have exceeded earnings which is only and only assumption not a practical world question.

8 0

2 years ago

Read 2 more answers

Entry for Issuing Materials Materials issued for the current month are as follows: Requisition No. Material Job No. Amount 103 P

romanna [79]

Answer:

Details below

Explanation:

For issuance of an entry a single transaction is recorded that is work in process account is debited and materials inventory account is credited. In subsidiary ledgers job numbers are debited. For indirect Materials factory overhead is debited.

The given data is as follows.

Requisition No. Material Job No. Amount

103 Plastic 400 $ 2,800

104 Steel 402 24,000

105 Glue Indirect 1,620

106 Rubber 403 3,200

107 Titanium 404 31,600

The entry for materials requisitioned will be

A compound entry can be passed. In this the subsidiary ledger is not included.

Sr. No Particulars Debit Credit

Work In Process 61600

Factory Overhead 1620

Materials Inventory 63200

The one with a subsidiary ledger would look like this.

Sr. No Particulars Debit Credit

(Subsidiary)

1 Work In Process 61600

( Job No 400) 2800

( Job No 402) 24000

( Job No 403) 3200

( Job No 404) 31600

Factory Overhead 1620

Materials Inventory 63200

This is combined entry but separate entries can be passed as well .

Sr. No Particulars Debit Credit

Work In Process 61600

Materials Inventory 61600

Sr. No Particulars Debit Credit

Factory Overhead 1620

Materials Inventory 1620

Sr. No Particulars Debit Credit

(Subsidiary ledger)

( Job No 400) 2800

( Job No 402) 24000

( Job No 403) 3200

( Job No 404) 31600

Materials Inventory Plastic 2800

Materials Inventory Steel 24000

Materials Inventory Titanium 3200

Materials Inventory Rubber 31600

In each of the entries above materials inventory is credited.

3 0

2 years ago

On January 2, 2015, Moser, Inc., purchased equipment for $100,000. The equipment was expected to have a $10,000 salvage value at

OLEGan [10]

Answer:

a. Debit Depreciation expense $6,400

Credit Accumulated depreciation $6,400

b. $33,600

Explanation:

Depreciation is the systematic allocation of cost to an asset. It is given as

Depreciation = (Cost - salvage value)/estimated life

When accumulated over time, it is known as accumulated depreciation which is deducted from the cost to get the carrying amount of the asset.

Depreciation

= (100000 - 10000)/6

=$15,000

Between 2015 and start of 2019 is 4 years hence

accumulated depreciation at start of 2019

= $15,000 × 4

= $60,000

Net book value = $100,000 - $60,000

= $40,000

If the asset life is to be extended by 3 years, the remaining useful life changes from 2 to 5 years.

New depreciation rate

= (40,000 - 8000)/5

= $6,400

To record this for 2019,

Debit Depreciation expense $6,400

Credit Accumulated depreciation $6,400

The book value of the equipment at the end of 2019

= $40,000 - $6,400

= $33,600

4 0

2 years ago

The following transactions occurred during 2021 for the Beehive Honey Corporation:

defon

Answer:

Given Below

Explanation:

Beehive Honey Corporation:

General Journal

Journal Entries

Date Particulars Debit Credit

Feb.1. Cash $ 24,000 Dr.

Notes Payable $ 24,000 Cr.

Feb. 1 Borrowed $24,000 from a bank and signed a note. Principal and interest at 8% will be paid on January 31, 2022.

Apr. 1 Prepaid Insurance 6,000 Dr.

Cash $ 6000 Cr

Apr. 1 Paid $6,000 to an insurance company for a two-year fire insurance policy.

July 17 Supplies Account $ 4000 Dr.

Accounts Payable $ 4000 Cr.

July 17 Purchased supplies costing $4,000 on account. The company records supplies purchased in an asset account.

Nov. 1 Notes Receivable $ 9,600 Dr.

Cash $ 9,600 Cr.

Nov. 1 A customer borrowed $9,600 and signed a note requiring the customer to pay principal and 6% interest on April 30, 2022.

Beehive Honey Corporation:

General Journal

Adjusting Entries December 31st

Sr. No Particulars Debit Credit

1. Interest Expense $ 1600 Dr.

Interest Payable $ 1600 Cr.

Interest accrued from Feb to December. ( $ 24000* 8% * 10/12 = $ 1600)

2. Insurance Expense $ 2250 Dr.

Prepaid Insurance 2250 Cr.

Insurance of $ 2250 expired during April to December. ( $ 3000 *9/12* = $ 2250)

3. Supplies Expense $ 2150 Dr.

Supplies Account $ 2150 Cr.

( $ 4000 - $ 1850= $ 2150)

At the year-end on December 31, 2021, supplies costing $1,850 remained on hand.

4. Interest Receivable $ 192 Dr.

Interest Income $ 192 Cr.

$9,600 * 6% * 2/6= $ 192 Accrued Interest not yet received.

8 0

2 years ago

Curtab, a company that manufactures digital watches, implements marketing strategies to attempt to eliminate analog watches from

Gnesinka [82]

Answer:

A) Design competition

Explanation:

Digital watch manufacturers and manufacturers of analog watches compete against each other because their products basically satisfy the same needs. Each one offers a very different product with its pros and cons, but even though their products are so different, they can be considered substitutes.

In the concept of innovation streams, Curtab is the innovator that is trying to create a sustainable competitive advantage because it works by designing an innovative product while its competitors rely on updating old designs.

4 0

2 years ago