Blair Company Transferred the Cost of Units Completed During the Month

question 75

Multiple Choice

Blair Company transferred the cost of units completed during the month to Finished Goods. The total cost was $1,100. How does this event affect the financial statements? $\begin{array}{|l|l|l|l|l|l|l|l|l|l|l|l|}\hline&{\text { Assets }} && = & \text { Liab. } & + & \text { Equity } & \text { Rev. } & - & \text { Exp. } & = & \text { Net Inc. } \\\hline \begin{array}{l}\text { WIP } \\\text { Inv. }\end{array} & + & \begin{array}{c}\text { Fin. } \\\text { Goods } \\\text { Inv. }\end{array} & & & & & & & & & \\\hline\end{array}$

• A) \[\begin{array} { | l | l | l | l | l | l | l | l | l | l | l | l | }
• \hline 1,100 & + & ( 1,100 ) & = & \text { NA } & + & \text { NA } & \text { NA } & - & \text { NA } & = & \text { NA } \\
• \hline
• \end{array}\]
• B) \(\begin{array}{|l|l|l|l|l|l|l|l|l|l|l|l|}
• \hline(1,100) & + & 1,100 & = & \text { NA } & + & \text { NA } & \text { NA } & - & \text { NA } & = & \text { NA } \\
• \hline
• \end{array}\)
• C) \(\begin{array}{|l|l|l|l|l|l|l|l|l|l|l|l|}
• \hline(1,100) & + & \text { NA } & = & \text { NA } & + & (1,100) & \text { NA } & - & 1,100 & =&1,100) \\
• \hline
• \end{array}\)
• D) \(\begin{array}{|l|l|l|l|l|l|l|l|l|l|l|l|}
• \hline \text { NA } & + & (1,100) & = & \text { NA } & + & (1,100) & \text { NA } & - & 1,100 & = & (1,100) \\
• \hline
• \end{array}\)

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Definitions:

Punishment

A consequence applied in response to undesired behavior, intended to discourage that behavior in the future.

Extinction

A process in which a particular behavior decreases over time because it is no longer reinforced or rewarded.

Creative Performance

relates to the generation of new and useful ideas, solutions, or products within a professional setting, reflecting an individual’s innovative capabilities.

Employee Fear

The apprehension experienced by employees regarding potential negative consequences within the workplace, such as job loss or failure.