For each separate case, record the necessary adjusting entry. 1. On July 1, Lopez Company paid $1,800 for six months of insurance coverage. No adjustments have been made to the Prepaid Insurance account, and it is now December 31.
2. Zim Company has a Supplies account balance of $6,200 at the beginning of the year. During the year, it purchased $2,600 of supplies. As of December 31, a physical count of supplies shows $1,100 of supplies available.

In addition to having a bachelor's degree in accounting, a certification will increase a tax accountant's job opportunities and allow them to file reports with the

Jack manufacturing company had beginning work in process inventory of $8,000. during the period, jack transferred $34,000 of raw materials to work in process. labor costs amounted to $41,000 and overhead amounted to $36,000. if the ending balance in work in process inventory was $12,000, what was the amount transferred to finished goods inventory?

Which of the following statements is (are) true? i. free entry to a perfectly competitive industry results in the industry's firms earning zero economic profit in the long run, except for the most efficient producers, who may earn economic rent. ii. in a perfectly competitive market, long-run equilibrium is characterized by lmc < p < latc. iii. if a competitive industry is in long-run equilibrium, a decrease in demand causes firms to earn negative profit because the market price will fall below average total cost.