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Hitman42 [59]
2 years ago
11

On August 4, Armstrong Trucking, Inc., paid $4,500 to replace the engine in one of its trucks. Complete the necessary journal en

try by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns.
Business
1 answer:
kolbaska11 [484]2 years ago
7 0

Answer:

Explanation:

The journal entry is shown below:

Truck A/c Dr $4,500

        To Cash A/c  $4,500

(Being the truck is replaced for cash)

Since the truck is replaced so we debited the truck account and credited the cash account so that the correct posting can be done.

The replacement cost increase its useful life which is capitalized so we also debited the truck account

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The capital allocation process involves the transfer of capital among different entities that include individuals, small busines
Zolol [24]

Answer:

We have to classify the transfers as Direct Transfer, Indirect Transfer Through Investment Banks, and Indirect Transfer Through Financial Intermediaries.

(a) - Indirect Transfer Through Financial Intermediaries.

A market mutual fund is a financial intermediary, and it is the option that Elliot has chosen to transfer capital.

(b) - Direct Transfer

As the statement explains, the company has not gone through any financial intermediation to raise capital. It has directly done so.

(c) - Indirect Transfer Through Investment Banks

xEdu.com hired an an investment banking to issue its initial public offering

(d) - Direct Transfer

Erin borrowed the money from his uncle without any financial intermediation.

8 0
1 year ago
Parkway Company incurred $126,000 in material costs during July. Additionally, the 12,000 units in the Work-in-Process Inventory
IRINA_888 [86]

Answer:

$ 13.167 / unit

Explanation:

Data provided:

Beginning material cost = $ 126,000

Number of units in work in progress = 12,000 units

Material cost assigned = $ 32,000

thus,

the total material cost involved = $ 126,000 + $ 32,000 = $ 158,000

Now,

the material cost per equivalent unit = Total material cost involved / number of units

on substituting the values, we have

the material cost per equivalent unit = $ 158,000 / 12,000

or

= $ 13.167 / unit

7 0
1 year ago
Stephen Hemmerling was a driver for the Happy Cab Co. Hemmerling paid certain fixed expenses and abided by a variety of rules re
KIM [24]

Answer and Explanation:

The court can hold that Hemmerling is an employee of the Happy Cab Co. in several cases:

1) The standard operating procedures followed by Hemmerling that is stated by Happy Cab Co. such as abiding by variety of rules, the hours he could work and solicitation of fares.

2) Hemmerling also paid fixed expenses and the car provided by the cab company suggest that he works for the company just like any other employer employee relationship.

3 0
2 years ago
A Forman of a construction company is responsible for a construction crew comprised of many unskilled workers. The work is hard,
NemiM [27]

Solution :

In the context, it is given that foreman in a construction company is responsible for the workers who are unskilled labors.

1. The segregation of the duties which involves the separation of the main functions and have them to conducted by the different workers. But here in this case, the approval of the attendance of the employees and the distribution of the checks to the worker are the important activities that are being conducted by a single employee.

2. This may result into frauds to the company. If the segregation of the duties is not implemented, then the company is at risk. This is because a single employee does the work for the approval of the attendance of the workers and distributing the checks to them for their work. So this can result in a fraud if the foreman wants to do fraud. But distributing the work among two employee will reduce the risk of fraud as one employee many not be willing to do fraud.

5 0
1 year ago
Earl was known for driving 30 miles just to save a dollar on the price of case of his favorite carbonated beverage. Earl perceiv
Marianna [84]

Answer:

Money Paid

Overall Sacrifice

Explanation:

The two major dimensions of pricing are Monetary and Non- Monetary pricing.

Monetary pricing is the liquid asset like cash that is spent to acquire goods and services while the non monetary are other costs apart from money like time , stress , distance that it costs to acquire an item .

The individual perception of pricing has a way of affecting its choice when it comes to purchasing.

Earl did not consider the cost of stress in travelling 30 miles in order to save a $1 in his purchase decision as his mindset is programmed to the price paid being the real price  while most other customers considers the sacrifice involved before making a purchase decision.

3 0
2 years ago
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