Answer:
$18,400
Explanation:
Given that
Direct material = $10
Direct labor = $6
Variable overhead
= ($70,000 ÷ 10000 units)
= $7
Total cost per unit of Finished Goods
= $23
So, the value of ending inventory under variable costing
= $23 × 800 units
= $18,400
Therefore we include Direct material per unit, Direct labor per unit and variable overhead per unit under variable costing.
Answer:
itll be 10
Explanation:
because on how itll show for the energy on demand
Answer: Ethical Obligations and Decision-Making in Accounting-The Heading is devoted to helping students cultivate the ethical commitment needed to ensure that their work meets the highest standards of integrity, independence, and objectivity.
* This program is designed to provide instructors with the flexibility and pedagogical effectiveness, and includes numerous features designed to make both learning and teaching easier.
Explanation: The first, addressed in Part I, is the administrative cost of deregulation, which has grown substantially under the Telecommunications Act of 1996.Part II addresses the consequences of the FCC's use of a competitor-welfare standard when formulating its policies for local competition, rather than a consumer-welfare standard. I evaluate the reported features of the FCC's decision in its Triennial Review. Press releases and statements concerning that decision suggest that the FCC may have finally embraced a consumer-welfare approach to mandatory unbundling at TELRIC prices. The haphazard administrative process surrounding the FCC's decision, however, increases the likelihood of reversal on appeal.Beginning in Part III, I address at greater length the WorldCom fraud and bankruptcy. I offer an early assessment of the harm to the telecommunications industry from WorldCom's fraud and bankruptcy. I explain how WorldCom's misconduct caused collateral damage to other telecommunications firms, government, workers, and the capital markets. WorldCom's false Internet traffic reports and accounting fraud encouraged overinvestment in long-distance capacity and Internet backbone capacity. Because Internet traffic data are proprietary and WorldCom dominated Internet backbone services, and because WorldCom was subject to regulatory oversight, it was reasonable for rival carriers to believe WorldCom's misrepresentation of Internet traffic growth. Event study analysis suggests that the harm to rival carriers and telecommunications equipment manufacturers from WorldCom's restatement of earnings was $7.8 billion. WorldCom's false or fraudulent statements also supplied state and federal governments with incorrect information essential to the formulation of telecommunication policy. State and federal governments, courts, and regulatory commissions would thus be justified in applying extreme skepticism to future representations made by WorldCom.Part IV explains how WorldCom's fraud and bankruptcy may have been intended to harm competition, and in the future may do so, by inducing exit (or forfeiture of market share) by the company's rivals. WorldCom repeatedly deceived investors, competitors, and regulators with false statements about its Internet traffic projections and financial performance. At a minimum, WorldCom's fraudulent or false
Answer:
Retained earnings at the beginning of the year;
Equity = Common stock + Retained earnings
Retained earnings = Equity - Common stock
Equity = Assets - Liabilities
= 700,000 - 210,000
=$490,000
Retained earnings = 490,000 - 200,000
=$290,000
........................................................Maria Queen..................................................
.....................................Statement of Retained Earnings..................................
.........................................For the year ended 2022..........................................
Opening Balance...............................................................................$290,000
Add:
Net Profit .............................................................................................$220,000
Less:
Dividends.............................................................................................($120,000)
Retained Earnings, 31 Dec 2022............................................$390,000
Answer: b) The total amount debited must equal the total amount credited
Explanation:
Journal entries on the debit side must always equal entries on the credit side. This is to fulfil the Accounting requirement of Double Entry where every entry in the books must have an equal and corresponding entry as well.
There can be multiple accounts represented in the journal entry but the amount on the credit side needs to balance with the amount on the debit side.
For example, a good to sold to Hillary by Trump for $30. Trump gives Hillary a discount of 10%. Trump will record that entry as,
DR Cash $27
DR Sales Discount $3
CR Accounts Receivable $30
Notice that the Debit side has 2 accounts but they still add up to the $30 on the Credit side.
