Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Whats the answers for all them O $31, 900 31) account de Finished Goods O total assets and total hahities increase by the same amount

Whats the answers for all them image text in transcribed
O $31, 900 31) account de Finished Goods O total assets and total hahities increase by the same amount D) total labilities increase and total equity decreases by the same amount OnJune 30, anine Inc. fiihdksb 750 with 6 tal pb costs of S4400 and tran ferred the costs to Finished Goods Inwentory On July& Caroline sold goods from Job 750 to a customer for $6000 cash. Which of the folowing is the correct entry needed to record the revenue eaned? Assume the 32) 32) A) debit Cash $6000 and cnedit Sales Revenue $6000 B) debit Cost of Goods Sold $4400 and credit Sales Revenue $4400 O) debit Sales Revenue 56000 and credit Cash $6000 D) debit Finished Goods Inventory $4400 and credit Sales Revenue $4400 )At the end of the year, Metro, Inc. has an unadjusted credit balanice in the Manufacturing Overhead account of s820 Which of the following is the year-end adjusting entry needed to adjust the account? 33) A) A debit to Cost of Goods Sold of $820 and a credit to Finished Goods Inventory of $820 8) A debit to Cost of Goods Sold of $820 and a credit to Manufacturing Overhead of $820 Q A debit to Manufacturing Overhead of $820 and a credit to Finished Goods Inventory of $s820 D) A debit to Manufacturing Overhead of $820 and a credit to Cost of Goods Sold of $820 h of the following businesses is most likely to use a process costing system? a construction an accounting firm 34) B) a soda manufacturer D) a law firm CHAT

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Information Systems Controls And Processes

Authors: Leslie Turner, Andrea B. Weickgenannt, Mary Kay Copeland

5th Edition

1119989485, 9781119989486

More Books

Students also viewed these Accounting questions