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41) Which category in Weatherbe's PIECES framework affects revenues (benefits) or costs? A) Control problem B) Economic problem C) Service problem D) Performance problem 42) In the ABC methodology of software development, which stage of the customer stage involves reviewing and updating user requirements for the new accounting system? A) Plan B) Analyze C) Install D) Deploy 43) In the ABC methodology of software development, which stage of the customer stage is the prototype created? A) Plan B) Analyze C) Install D) Build 44) In the ABC methodology of software development, which stage of the customer stage do users enter […]

Question I am including exercise 8.11because we are to refer to it for thequestion. Exercise 8.11 (page239): Hegge Company uses the periodic inventory system. Journalize thefollowing entries for April, assuming Hegge Company uses the grossprice method of recording direct material purchases. Apr6           Purchased $15,100 in direct materials from Kunzman Wholesale; terms1/15, n/30, FOB shipping point. Apr9           Paid Carper Transit $250 freight charges on the purchase of April6th. Apr12           Returned $1,400 gross price of direct materials from the April6th purchase to Kunzman Wholesale because the items werethe wrong model. Apr30           Paid Kunzman Wholesale the amount due. Refer to Exercise 8.11. Make […]

Question I am including exercise 8.11because we are to refer to it for thequestion. Exercise 8.11 (page239): Hegge Company uses the periodic inventory system. Journalize thefollowing entries for April, assuming Hegge Company uses the grossprice method of recording direct material purchases. Apr6           Purchased $15,100 in direct materials from Kunzman Wholesale; terms1/15, n/30, FOB shipping point. Apr9           Paid Carper Transit $250 freight charges on the purchase of April6th. Apr12           Returned $1,400 gross price of direct materials from the April6th purchase to Kunzman Wholesale because the items werethe wrong model. Apr30           Paid Kunzman Wholesale the amount due. Refer to Exercise 8.11. Make […]

Question I am confused as to how to close merchandise inventory account.The company does not use a cost of good sold account therefore Ihave to close all of the accounts of cogs too. These are the accounts… closing entry to debit income summary account Merchandise inventory BB. 88,829 EB. 71,992 Purchases 1000 Purchases returns  500 Purchase discounts 100 how do I close these accounts. what do i debit and what do Icredit ? Then it says closing entry to credit income summary account andit gives me merchandise inventory again. Do i debit or credit andthis option? and for what amount? […]

Question I am getting an answer of $160,000? Can someone show how to work this problem? An analysis of changes in selected balance sheet accounts of Johnson Corporation shows the following for the current year: plant and equipment accounts debit entries to asset accounts- $160,000 credit entries to asset accounts- $118,000 debit entries to accumulated depreciation accounts ( resulting from sale of plant assets) – $91,000 credit entries to accumulated depreciation accounts ( representing the depreciation for the current year) – $107,000 Johnson's income statement for the current year includes a $14,000 loss on disposal of plant assets. All payments […]