BUSINESS HIGH SCHOOL

Gullett Corporation had $30,000 of raw materials on hand on November 1. During the month, the Corporation purchased an additional $79,000 of raw materials. The journal entry to record the purchase of raw materials would include a: Multiple Choice debit to Raw Materials of $109,000 credit to Raw Materials of $79,000 debit to Raw Materials of $79,000 credit to Raw Materials of $109,000

Answers

Answer 1
Answer:

Answer:

The journal entry to record the purchase raw material would include a debit to raw material of $79000 and credit to Raw materials of $109000..

Explanation:

Since the raw material is coming into the company, we have debit raw material and the opening balance is already there in the books of the business. hence raw materials increases.

Related Questions

An advantage of E-wallets is that:_______ A. Users do not need to re-enter personal information each time they make an online purchase B. Most E-wallet information is maintained on vendor file servers C. They ensure the completion of a purchase transaction over the internet D. None of these
Which activity would a consumer most likely perform?
Which of the following lists contains only services?A. economics class,hair cut,life insurance. B. chair,dry cleaning,police protection. C. hammer,ice cream cone,house. D. shirts,car wash,computer training.
What is $5.30 reduced by 10%
Sacrificing your own self interests for the good of the overall goal is ______.a.loyaltyb.malleabilityc.self-managementd.initiative

The normal balance of the accounts receivable subsidiary ledger isA. Credit
B. Debit
C. Not enough information has been provided
D. It doesn’t have a normal balance

Answers

The correct answer to the question is letter B. Debit.

the answer would be c

Comparing and contrasting sets of data in order to rank them and make a decision best defines _____.a. personal information
b. evaluation
c. career information
d. personal career profile

Answers

Comparing and contrasting sets of data in order to rank them and make a decisions best defines as evaluation. In evaluation, you need to rank your employees for the compensation or salary increase that they will receive. The most performer will receive the biggest increase since he has done bigger.

Answer: is B

Explanation:

Just took the test............

Which of the following income statement figures would probably be the best indicator of a company s future performance?a. Total revenues
b. Income from operations
c. Net income
d. Gross profit

Answers

The income statement figures would probably be the best indicator of a company's future performance is income from operations.

>Income from operations or IFO is the net income of an entity, not including the impact of any financial activity or taxes. IFO is the profit realized from a business' own operations.

What does human rights mean to you

Answers

where all people is equal and that they don't have  to be different race.
human rights means we have the right to our freedom even though it may be limited at times. We should still do as we please and look how we want and worship who we choose.

Although it can be expensive for businesses to implement operational efficiency, this cost produces greater quality results. For organizations with multiple divisions, developing processes once and repeating them saves time. True False

Answers

Answer:

False

Explanation:

Operational efficiency: It is defined as group of strategy and technique that management implement to produce goods and services at a cost-effective method, at the same time maintaining the standard and quality of product. The ratio of operational efficiency is measured by dividing total operational expenses with total revenue, it help to find the efficiency of the production or operation. It is helpful in improving process of production as well help in gaining more profit.

In the given situation, It is false to say that implementing operational efficiency can be expensive.

Which statement or statements apply to a bond which is selling at a premium? I. The market value exceeds the par value.
II. The selling rate is above 100.
III. It is sold by corporations, not by the government.

a. I and II
b. I only
c. III only
d. I, II, and III

Answers

It is A.  I and II

I got it in the test

Final answer:

The correct statements regarding a bond selling at a premium are that the market value exceeds the par value, and the selling rate is above 100. Statement III is incorrect because both corporations and governments can issue such bonds. A rising market interest rate after a bond's issuance leads to a decrease in its value.

Explanation:

When considering which statements apply to a bond that is selling at a premium, options I and II are relevant. A bond selling at a premium means that:

  • The market value exceeds the par value (I).
  • The selling rate is above 100, which indicates a premium (II).

Statement III is incorrect because both corporations and governments can issue bonds that sell at a premium. Therefore, the correct answer to the question is a. I and II.

Additionally, the interest rate that Ford is paying on the borrowed funds can be determined by the coupon rate of the bond. If the market interest rate rises from 3% to 4% after the bond is issued, the value of the bond will decrease because the fixed payments from the bond become relatively less attractive compared to new bonds issued at the higher rates.
Other Questions
Which command staff member serves as the incident commands point of contact.
Conformance quality addresses whether the product was made or the service performed to specifications. True False
what is a graphical representation of the combination of goods and services that can be produced in a situation
A job shadow takes place:A. in a lecture hall. B. at school. C. on a college campus. D. in a workplace.