S
  1. study help
  2. subject categories
  3. business
  4. accounting
  5. november 2014
  6. 14

Accounting Questions and Answers November 14, 2014

Expert-verified solutions to help you succeed

Schlitterbahn Waterslide Company issued 31,000, 10-year, 4 percent, $100 bonds on January 1 at face value. Interest is payable each December 31. ( a ) The issuance of these bonds on January 1. ( b ) The first interest payment on December 31. Prepare the journal entries related for the above transactions. (If no entry is required for a
image text in transcribedimage text in transcribed

The following data have been provided by Lopus Corporation: Budgeted production Standard machine-hours per unit Standard lubricants Standard supplies 3,300 units 3.4 machine-hours $ 4.90 per machine-hour $ 3.60 per machine-hour Actual production 3,600 units 8,780 machine-hours $44,609 $31,241 Actual machine-hours Actual lubricants (total) Actual
image text in transcribed

Erin Company reports the following operating results for the month of August: Sales $472,800 (units 5,910); variable costs $297,864; and fixed costs $87,670. Management is considering the following independent courses of action to increase profit. 1. Increase selling price by 10% with no change in total variable costs. 2. Reduce variable costs to
image text in transcribed

Creative Sound Systems sold investments, land, and its own common stock for $32 million, $15.2 million, and $40.4 million, respectively. Creative Sound Systems also purchased treasury stock, equipment, and a patent for $21.2 million, $25.2 million, and $12.2 million, respectively. What amount should the company report as net cash flows from
image text in transcribed

Wayman Corporation reports the following amounts in its December 31, 2018, income statement 10 6.64 points Sales revenue Interest expense I Salaries expense Utilities expense $ 397,000 Income tax expense $ 51,000 21,000 Cost of goods sold 131,000 41,000 Advertising expense 31,000 51,000 eBook Required: Prepare a multiple-step income statement. 1
image text in transcribedimage text in transcribed

plz answer the whole thing The following departmental income statement information is available for Ross Company: Department Department Department A B Total Sales 33,600 42,000 38,900 114,500 Variable Costs 17,200 29,400 24,400 71,000 Contribution Margin 16,400 12,600 14,500 43,500 Fixed Costs 9,600 16,200 11,200 37,000 Net Income 6,800 (3,600)
image text in transcribedimage text in transcribed

Enter the November 1 balances in the ledger accounts. On November 1, 2020, the account balances of Blossom Equipment Repair were as follows. Debits No. Credits No. 101 Cash 112 Accounts Receivable 126 Supplies 153 Equipment $2,140 2,600 1,220 722 14,518 $21,200 $2,380 154 Accumulated Depreciation-Equipment 4,220 201 Accounts Payable 1,760 209 212
image text in transcribedimage text in transcribedimage text in transcribed

The information below relates to the current year activity of the Kim Company's defined benefit pension plan. Based on this information pension expense is equal to: Service Cost $240,000 Expected return on plan assets 120,000 Actual return on plan assets 150,000 Interest cost 180,000 Amortization of accumulated OCI gain 60,000 Amortization of

On April 1, 2017, Headland Company sold 19,800 of its 10%, 15-year, $1,000 face value bonds at 98, Interest payment dates are April 1 and October 1, and the company uses the straight- line method of bond discount amortization. On March 1, 2018, Headland took advantage of favorable prices of its stock to extinguish 5,700 of the bonds by issuing
image text in transcribedimage text in transcribed

Use the following information to prepare the statement of financial position as at 31 March 20.9. The following balances appear in the books of XYZ Stores as at 31March 20.9. Additional Information Stock on hand as at 31March 20.9 was R 10 000 The net profit for the year was R13 930.
image text in transcribed

Going Places, Inc., manufactures a variety of luggage for airline passengers. The company has several luggage production divisions, including the Suitable Cases Division, as well as a wholly owned subsidiary, It's Mine, that manufactures small identification tags used on luggage. Each piece of luggage that Suitable Cases produces has two
image text in transcribedimage text in transcribedimage text in transcribed

Transactions for Fixed Assets, including Sale The following transactions and adjusting entries were completed by Robinson Furniture Co. during a three-year period. All are related to the use of delivery equipment. The double-declining balance method of depreciation is used. Year San. 8. Purchased a used delivery truck for $47,040, paying cash.
image text in transcribedimage text in transcribedimage text in transcribed

Alvin Inc was formed in 2000 by Bob Gordon and Lauren Smith. Bob and Lauren officially incorporated their store on June 12, 2000. Alvin sells (retail) all kinds of music-related products including musical instruments, sheet music, CDs, and DVDs. Bob owns 60 percent of the outstanding common stock of Alvin and Lauren owns the remaining 40 percent.

Phillips Corporation's fiscal year ends on November 30. The following accounts are found in its job order cost accounting system for the first month of the new fiscal year. Other data: On December 1, two jobs were in process: Job No. 154 and Job No. 155. These jobs had combined direct materials costs of $9,850 and direct labor costs of $
image text in transcribedimage text in transcribed

Exercise 1 4 - 3 3 ( Algo ) Determining Standard Direct Materials Cost [ LO 1 4 - 4 ] Agrichem manufactures Insect - Be - Gone. Each bag of the product contains 6 0 pounds of direct materials. Twenty percent of the materials evaporate during manufacturing. The budget allows the direct materials to be purchased at $ 4 . 0 0 per pound ( gross cost )

eBook Show Me How Calculator Print Item Preparing a Direct Labor Budget Patrick Inc, makes industrial solvents. Planned production in units for the first three months of the coming year is: January 45,000 February 50,000 March 60,000 Each drum of industrial solvent takes 0.3 direct labor hours. The average wage is $18.30 per hour. Required:
image text in transcribed

this is part 4 out of 17. please help me solve as many as you can. thank you! Lily Network Consultants, Incorporated uses the percentage-of-completion method to account for its long-term contracts. It uses the cost-to-cost approach to measure progress. During the current year, Lily signed a contract to develop a computer network for an
image text in transcribedimage text in transcribedimage text in transcribed

Question33. Which of the taxpayers should itemized/ explain a. Robert is asingle taxpayer. He has itemized deduction of $6500 b. Jane qualifies as head of household. Her itemized deduction total $8500 c. Brian is married and filed a seperate return. He has itemized deduction of $6500 d. Lisa is a surviving spouse. Her itemized deductions are

Required Question: Compute all the ratios for the company (Balance Sheet and Income statement has been mentioned) also include each ratio short analysis. . . . Required Question: Compute all the ratios for the company (Balance Sheet and Income statement has been mentioned) also include each ratio short analysis. 1. Current Ratio 2. Quick Ratio 3.
image text in transcribedimage text in transcribedimage text in transcribed

Sheridan Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $1,872,000 on March 1, $1,272,000 on June 1, and $3,047,000 on December 31 Sheridan Company borrowed $1,008,000 on March 1 on a 5-year, 12% note to help finance construction of the building. In addition. the company had
image text in transcribed

The following information relates to Pharoah Limiteds Cash account. The reconciled cash balance from Junes bank reconciliation is $17,390. During the month of July, Pharoah recorded cash receipts of $22,770 and cash payments of $25,720 in the general ledger Cash account. At July 31, Pharoah Limited had an reconciled cash balance of $16,593. An
image text in transcribed

The sales budget for Modesto Corporation shows that 28,000 units of Product A will be sold in the current month and 32,000 units will be sold next month. Beginning inventory for the current month is 2,800 units, and the company wants to have to\% of next month's sales in inventory at the end of the month, Budgeted purchases of Product A for the
image text in transcribedimage text in transcribed

Costs associated with the manufacture of miniature high-sensitivity piezoresistive pressure transducers is $85,000 per year. A clever industrial engineer found that by spending $17,000 now to reconfigure the production line and reprogram two of the robotic arms, the cost will go down to $56,000 next year and $55,000 in years 2 through 5. Using an
image text in transcribed

Required information The Foundational 15 [LO12-2, L012-3, L012-4, LO12-5, L012-6] [The following information applies to the questions displayed below.] Cane Company manufactures two products called Alpha and Beta that sell for $135 and $95, respectively. Each product uses only one type of raw material that costs $6 per pound. The company has the
image text in transcribed

coti of 5165,000 Was ats follown: The amount of joint costs allocated to product L using the net realizable value method is (calculate all ratios and percentages to 4 decimal places, for example - 3333%, and round all dollar amounts to the nearest whole dollar)
image text in transcribed

Which of these is normally reported as an operating TRUE/FALSE QUESTIONS 2. 7. TF T F The annual financial report of a government unit is 8. Go vernment-wide financial statements include a statement of net assets and activities. 9. T F Fund financial statements for fiduciary funds of d Einancial statements for Siduciary funds generally include a
image text in transcribed

akeAssignmentMain.do?invoker-assignments&takeasignmen Show Me How Contribution Margin Weidner Company sells 22,000 units at $30 per unit. Variable costs are $24 per unit, and fixed costs are $40.000. Determine (a) the contribution margin ratio, (b) the unit contribution margin, and (c) income from operations. a. Contribution margin ratio b. Unit
image text in transcribed

Exercise 19-20 (Algo) EPS; shares issued; stock options [LO19-6, 19-7, 19-8, 19-9] Stanley Department Stores reported net income of $776,000 for the year ended December 31, 2021. Additional Information: Common shares outstanding at Jan. 1, 2021 90,000 Incentive stock options (vested in 2020) outstanding throughout 2021 24,000 (Each option is

please help me answer these questions The following scenario relates to questions 231-235 Apex received a $10 million 6% loan on 1 April 20X7. The loan will be redeemable at a premium which means the loan has an effective finance cost of 7.5% per annum. The loan was specifically issued to finance the building of a new store. Construction of the
image text in transcribed

Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of 5,000 computers: Actual: Variable factory overhead $104,300 Fixed factory overhead 28,000 Standard: 5,000 hrs. at $25 125,000 If productive capacity of 100% was 8,000 hours and the total factory overhead cost budgeted at the level of 5,000

Please explain. no other information is given The fair values of all of Sirius's assets and liabilities were equal to their book values except for inventory that had a fair value of $85,000, land that had a fair value of $60,000, and buildings and equipment that had a fair value of $250,000. Buildings and equipment have a remaining useful life of

A company has the following data for the year: Product A takes 3 machine hours and $20 of direct labor dollars How much will the costs per unit of Product X increase if the company changes frem allocatirg overhead based upon machine hours to direct labor hours
image text in transcribed

english writing The chart below shows the different types of coffee consumed by customers in three cafs in one country per day. Summarise the information by selecting and reporting the main features, and make comparisons where relevant. Write at least 150 words. Daily coffee consumption 1800 1600 cups of coffee Mocha Latte Starbucks Cappuccino
image text in transcribed

Question 4 (20 marks) . You are trying to assess the value of Super Co., a troubled automobile parts supplies company. You have collected the following information: The company is expected to generate $48 million in after-tax operating income next year, on a book value capital invested of $800 million. . The firm is currently extremely over
image text in transcribed

Problem 3-4 (Algo) Balance sheet preparation [LO3-2, 3-3] The following is the ending balances of accounts at December 31, 2021, for the Weismuller Publishing Company. Additional information: 1. Prepaid expenses include $140,000 paid on December 31,2021 , for a two-year lease on the building that houses both the administrative offices and the
image text in transcribedimage text in transcribed

Lakeway Manufacturing Co. fabrica y vende productos de limpieza para el hogar. El departamento de investigacin de la empresa ha desarrollado un nuevo limpiador para el cual se debe determinar un costo estndar. El nuevo limpiador se prepara mezclando 10 cuartos de galn de solucin de trifato y 4 libras de grnulos de sobase y hirviendo la mezcla

Wildhorse Limited sponsors a defined benefit pension plan, and follows ASPE. The corporation's actuary provides the following information about the plan (in thousands of dollars): December 31, 2020 January 1, 2020 $1,300 2.340 1,360 10% ? $1,500 3,124 2,093 10% ? Vested benefit obligation Defined benefit obligation, accounting basis Plan assets
image text in transcribedimage text in transcribed

tree parts please Question: Journalizing, Posting and Unadiusted Trial Balance The Tampa Rays Company began business in July 2013. During July, the following transactions occurred: Jul.1 Issued common stock in exchange for $1,000,000 cash. 2 Purchased inventory on account for $80,000 (the perpetual inventory system is used). 4 Paid the company's
image text in transcribed

Mooresville Corporation manufactures reproductions of eighteenth-century, classical-style furniture. It uses a job costing system that applies factory overhead on the basis of direct labor hours. Budgeted factory overhead for the year was $1,261,500, and management budgeted 87,000 direct labor hours. Mooresville had no materials, work-in-process,

7 Single Sheet is preparing its payroll for week #1 in November. Year-to-date through October (YTD) information follows for its 4 employees. State income tax is withheld at the rate of 3.07%. Local earned income tax is withheld at the rate of 1.5%. Federal income tax withholding (FWT) should be figured using Publication 15-T percentage method
image text in transcribedimage text in transcribed

For Flynn Company, variable costs are 56% of sales, and fixed costs are $193,000. Management's net income goal is $70,000. Compute the required sales in dollars needed to achieve management's target net income of $70,000. (Use the contribution margin approach.) (Round answer to 0 decimal places, e.g. 1, 225.) Required sales
image text in transcribed

Money Management Strategy: Financial Statements and Budgeting Jamie Lee Jackson, age 25, now a busy full-time college student and part-time bakery clerk, has been trying to organize all of her priorities, including her budget. She has been wondering if she is allocating enough of her income toward savings, which includes accumulating enough money
image text in transcribed

Create a general journal January 1st Common stock is issued in exchange for cash in the amount of .. 295,000 February 8th The company purchases and pays for 160 units of gourmet dog food at a price of $25 per unit .. 4,000 March 1st The company pays cash for a one-year insurance policy in the amount of ..... 9,300 March 31st Rent on a retail space

The unadjusted trial balance at year-end for a company that uses the percent of receivables method to determine its bad debts experise reports the following selected amounts. Accounts receivable Allowance for Doubtful Accounts Net Sales $.451.600 Debit 1.410 Credit 2,250,000 Credit All sales ate made on credit. Based on past experience, the
image text in transcribedimage text in transcribed

Pro-Weave manufactures stadium blankets by passing the products through a weaving department and a sewing department. The following information is available regarding its June inventories: Beginning Ending Inventory Inventory Raw materials inventory $ 180,000 $ 193, eee Work in process inventory-Weaving 385, eee 35e, 880 Work in process
image text in transcribed

E3-3A. Calculate and Use Overhead Rate During the coming accounting year, Baker Manufacturing, Inc., anticipates the following costs, expenses, and operating data, related to Job 63: Direct material (16,000 lb.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$ 80,000 Direct labor (@ $10/hr.). . . . . . . . . . . . . . .

A producer incurred costs of $50,123 for labor and materials and $10,558 for fixed overhead expenses in a year. The firm produced 16,889 units during the year. The producer adds $2 per unit to their average cost to determine their price to the wholesaler. If the wholesaler wishes to have a 30% cost based mark-up what should the wholesaler selling
image text in transcribed

Question Help Charlie Snyder own Charlie's Pets, a smalt retail shop seling pet supplies On December 31, 2018 the accounting records of Charlie's Pets showed the following Click the icon to view the accounting records) Read the requirement Requirement 1. Prepare an income statement for Charlie's Pots for the your ended December 31, 2018 Charlie's
image text in transcribedimage text in transcribedimage text in transcribed

Carla Tortelli was divorced last year. She currently provides a home for her 15-year-old son Anthony. Anthony lived in Carla's home for the entire year, and Carla paid for all the costs of maintaining the home. She received a salary of $46,230 and contributed $3,885 of it to a qualified retirement account. She also received $5,755 of alimony from
image text in transcribedimage text in transcribed

Can you help me with this? Sheffield adds its conversion costs evenly throughout the machining process. Determine the equivalent units of production for both DM and conversion costs this year for the Sheffield machining department under the FIFO method. (b1) According to the completion percentages in part (a), does Sheffield add DM costs in the
image text in transcribedimage text in transcribedimage text in transcribed

Stone River manufactures 14.800 products every year. The cost structure of each unit is as follows: Per unit Direct materials $23.00 Direct labor 24.00 Variable manufacturing overhead 13.00 Fixed manufacturing overhead 10.00 Total unit cost $70.00 A supplier offers Stone River with 14.800 products at a unit price $86.00. Assume that fixed
image text in transcribedimage text in transcribed

Trial Balance Micro Path Tech October 30, 2020 Required: Prepare the following financial statements from the trial balance above. Use Microsoft Excel and email me your answers by October 22, 2022 1. Income Statement 10 marks 2. Statement of Owrer's Equity 10 marka 3. Balance Sheet
image text in transcribed

During 2020, FISHING Co decided that the weighted average method of accounting for inventory presented more fairly their financial position. Prior to 2020 they used the FIFO method to account for inventory. FISHING started business in 2016. The applicable tax rate for all years was 25%. The following graph shows Ending Inventory under the old

The following is the budget of a manufacturing enterprise that produces only one type of product: Total REQUIRED: Calculate the predetermined overhead rate (POR) and unit product cost according to six different bases
image text in transcribed

1. Imagine an investor has access to four different projects with capital costs as described above. Only one will succeed and the others will fail, but the investor does not know which project will succeed or fail ahead of time. What IRR will an investor require for each firm in this situation if still discounting cash flows and exit values under
image text in transcribed

Fill in the Blanks . (d) Fill in the blanks 0 Breakeven point contribution = (1) Re-order level = usage multiplied by lead time. (iii) In absorption costing cost is added to inventory
image text in transcribed

I need fill out this chart with this exercise, but I can't post completly (BOOK)Accounting Principles by Weygandt, Kimmel & Kieso 10th Edition P20-3A Skop Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending upon customer preference. On June 1, 2012, the

(a) On January 6, Delta Company sold goods on account to Zeta Company for $2,500, with terms 2/10,n/30. The goods cost Delta Company $900. The goods are subject to sales tax of 8%. Prepare Delta's entry (entries) for January 6. Credit Debit Date Account (b) On January 7, Delta Company sold goods on account to Omicron Company for $1,500. The goods
image text in transcribed

Basis for Cost Recovery 1. Kendall purchased a delivery van for her business. The sales price for the van was $25,000. In addition, Kendall incurred the following expenses before using the van: shipping costs of $750; paint to match the other fleet vehicles at a cost of $1,000; registration costs of $1,150 which included $1,000 of sales tax and a
image text in transcribed

Borkner Corporation has found that 70% of its sales in any given month are credit sales, while the remainder are cash sales. Of the credit sales, Berkner Corporation has experienced the following collection pattern: 20% recelved in the month of the sale 40% received in the month afler the sale 24% received two months aher the sale Requirement 16\%
image text in transcribed

Multiple Production Department Factory Overhead Rates The total factory overhead for Bardot Marine Company is budgeted for the year at $808,500, divided into two departments: Fabrication, $712,500, and Assembly, $96,000. Bardot Marine manufactures two types of boats: speedbosts and bass boats. The speedboats require one direct labor hour in
image text in transcribed

Pina Colada Corporation has issued 106,000 shares of $5 par value common stock. It was authorized 494,000 shares. The paid-in capitat in excess of par value on the common stock is $254,400. The corporation has reacquired 6,800 shares at a cost of $46,500 and is currently holding those shares, It also had accumulated other comprehensive income of
image text in transcribed

The following data relate to the operations of Dillinger Company, a wholesale distributor of consumer goods: Current assets as of March 31 16,000 28,800 16,940 310,000 53,500 57,000 261,240 Cash Accounts receivable Inventory Buildings and equipment (net) S Accounts payable Capital stock Retained earnings
image text in transcribedimage text in transcribedimage text in transcribed

Homework: ACC-260 Topic 3 Assignment Save Score: 0 of 25 pts 4 of 5 (1 complete) HW Score: 0%, 0 of 100 pts Question Help P22-39A (similar to) Largley Company has provided the folowing budget information for the first quarter of 2018: Click the icon to view the budget information) Additional data related to the first quarter of 2019 for Langley
image text in transcribedimage text in transcribed

Video Specials commenced business on 1 May 2018, selling only one model of big screen television. During the first month of trading it made the following purchases and sales: The units were sold for $1500 each. The business uses the perpetual/ continuous method of recording inventory. Use this information to complete the stock cards below. Video
image text in transcribedimage text in transcribedimage text in transcribed

The company built 8 CJE-27 jet engines to satisfy a special order. Upon inspection, the engines were determined to be defective. The company now must decide between scrapping these engines or reworking them to meet the specifications of the buyer. Each engine cost $650,000 per unit to manufacture. The engines can be sold as scrap (spare parts) for
image text in transcribed

Reporting Net Cash Flow from Operating Activities The income statement for Granville Manufacturing Company is presented below. Granville Manufacturing Company Income Statement For the year ended December 31, 2019 Sales $4,199,830 Cost of goods sold 2,787,210 Gross margin $1,412,620 Operating expenses: Salaries expense $831,800 Depreciation expense

Enter the missing doliar amounts for the income statement for each of the following independent cases. (Hint: In Case B, work from the bottom up)
image text in transcribed

ette At the end of the SOYADES DE 035 watt Required LWIN D. 2002 Cenyewe . Journal entry worksheet 5 - 0 w T Y O P V s S D E 2 X V B N
image text in transcribed

1) On June 12, Music, Inc. sells $4,000 of goods on account to a credit customer with credit terms of 1/10, n/30. If the customer pays on June 20, select the correct entry to record the receipt of the customer's payment: 2) Hour Place Clock Shop sold a grandfather clock for $3,750 subject to a 7% sales tax. The entry in the general journal will

please help Quality Motor Company is an auto repair shop that uses standards to control its labor time and labor cost. The standard labor cost for a motor tune-up is given below: The record showing the time spent in the shop last week on motor tune-ups has been misplaced. However, the shop supervisor recalls that 50 tune-ups were completed during
image text in transcribed

Pregunta- La gerencia de Springer plc est considerando los presupuestos de produccin y compras del prximo ao. Uno de los componentes producidos por la empresa, que se incorpora a otro producto antes de ser vendido, tiene un costo de fabricacin presupuestado de la siguiente manera: () () Material directo = 14 Mano de obra directa (4 horas a 3 por

20 A major tenant moved, and Park Avenue LLC was unable to meet the monthly mortgage payment. After extensive negotiations with the lender, the mortgage was reduced by $400,000. At that time, the FMV of the building was $3,000,000 and the basis was $2,000,000. The FMV will be adjusted down by $400,000 The basis of the building will be reduced by
image text in transcribed

Electro Compony manufactures transmissions for electric cars. Management reports ending finished goods imventory for the first. quarter at 44,000 units, The following unit sales are budgeted during the rest of the year: second quarter, 220,000 units; third querter, 472,000 units; and fourth quarter, 476,000 units. Company policy calls for the
image text in transcribed

A gain or loss from a transaction that is unusual in nature or infrequent in occurrence should be reported separately as a component of income Before cumulative effect of accounting changes and after results of discontinued operations After Income from continuing operations and before results of discontinued operations. e After results of income
image text in transcribed

1. Southbend Medical Clinic offers a number of specialized medical services. A review of data for the year just ended revealed variable costs of $32 per patient day; annual fixed costs of $480,000, which are incurred evenly throughout the year; and semivariable costs that displayed the following behavior at the "peak" and "valley" of activity:

Internal Rate of Return The Tidwell Company is considering buying a new machine costing $18,000. Tidwell estimates that this machine will save $5,000 per year in cash operating expenses for the next five years. If the machine has no salvage value at the end of five years and the discount rate used by Tidwell is 8%, compute the machine internal
image text in transcribed

Data Sheet Assumptions 2017 2016 Accounts payables 450 650 Accounts receivables 550 450 Net Sales 1,895 1,500 Common stock 350 350 Operating costs 1,895 1,700 Gross fixed assets 2,086 1,986 Interest expense 50 25 Long-term debt 897 480 Depreciation & amortization 50 50 Notes Payable 165 259 Cash and equivalents 15 40 Accruals 153 313 Taxes Rate

ed) Saved Help Required information The following information applies to the questions displayed below.) Major League Apparel has two classes of stock authorized: 4%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021, its first year of operations: May January 2 Issue 120,000 shares of
image text in transcribedimage text in transcribed

Help, and it would really help me if you could explain what you plugged in to get the answers. Thanks Fairfield Company's raw materials inventory transactions for the most recent month are summarized here: $ 11,900 114,000 Beginning raw materials Purchases of raw materials Raw materials issued Materials requisition 1445 Materials requisition 1446
image text in transcribedimage text in transcribed

New York Fashions owns 8 7 women's clothing stores in shopping malls. Corporate headquaner of New York Fashions uses flexible budgets to control the operations of each of the stores. The follen. ing table presents the August flexible budget for the New York Fashions store located in the C . w . Lakes Mall: Variable costs are based on a percentage

Current Attempt in Progress Oriole Corp. was unable to use the cash registers at one of its stores for one day. The staff at that store asked customers to pay only the price listed on the items purchased and did not charge customers HST at 1 3 % because doing so would take up too much time. All sales were by cash or credit card that day and the
image text in transcribed

Check Fast Co produces its product through two processing departments. Direct materials are added at the start of production in the Cutting department, and conversion costs are added evenly throughout each process. The company uses monthly reporting periods for its weighted average process costing system. The Work in Process Inventory-Cutting
image text in transcribedimage text in transcribedimage text in transcribed

a and b plz Put It into Practice Determine and Record Inventory Costs FACTS Gard Company sells basketballs and basketball hoops and is analyzing the following inventory information at year-end 2025 . 1. Gard took a physical inventory of basketballs on December 31 and determined that there were $200,000 worth of basketballs on hand. Not included in
image text in transcribed

Management of Mittel Rhein AG of Kln, Germany, would like to reduce the amount of time between when a customer places an order and when the order is shipped. For the first quarter of operations during the current year the following data were reported: Inspection time Wait time (from order to start of production) Process time Move time Queue time
image text in transcribed

The adjusting entry to record supplies used during the period includes a: 1)debit to supplies 2)debit to supplies expense 3)credit to service revenue 4)credit to cash

Prepare an appropriations ledger similar to Table 3-6 to record the transactions and events applicable to the appropriation for Parks departmentplants and supplies. The ledger should have columns for appropriation (Cr.), encumbrances (Dr. and Cr.), expenditures (Dr.), and available appropriation (Cr.). The following transactions and events
image text in transcribed

Lexington Company engaged in the following transactions during Year 1, its first year in operation: (Assume all transactions are cash transactions.) Acquired $4,900 cash from issuing common stock. Borrowed $3,150 from a bank. Earned $4,050 of revenues. Incurred $2,590 in expenses. Paid dividends of $590. Lexington Company engaged in the following

E: (Click the icon to view the table.) Fill in the missing information in the preceding table. (Enter the capital turnover to two decimal places X.XX.) Johnson Industries Plumb Company $ 800,000 530,000 120,000 Sales .. Operating income Total assets Sales margin Capital turnover Return on investment (ROI) Target rate of return. Residual income
image text in transcribedimage text in transcribed

Prepare entries to record the transactions for Maine Corp.: a. Issued 2,000 shares of $10 par common stock at $72 for cash. If an amount box does not require an entry, leave it blank. b. Issued 2,500 shares of common stock in exchange for land with a fair market price of $130,000. c. Purchased 400 shares of treasury stock at $70. d. Sold the 400

Cullumber Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $121,000. (a) Prepare the journal entry for the issuance when the market price of the common shares is $164 each and market price of the preferred is $205 each. (b) Prepare the journal entry for the issuance when only

t-take8 com/ln/takeAssignment/take AssignmentMain.do?invoker assignments&ctakeAssignmentSessionLocat y Twitter eChegg Study Order S SunGard Higher Edu S Tesas Southernum, Macmilan Laurchp mpn Ball Super E urchase eBook Calculator Print nem Purchase-Related Transactions retailer is considering the purchase of 250 units of a specific item from
image text in transcribedimage text in transcribedimage text in transcribed

Comparative balance sheet accounts of Sheridan Company are presented below. SHERIDAN COMPANY COMPARATIVE BALANCE SHEET ACCOUNTS AS OF DECEMBER 31 Debit Balances Cash Accounts Receivable Inventory Debt investments (available-for-sale) Equipment Buildings Land 2017 2016 $70,000 $50,600 155,300129,000 61,600 85,100 48,200 145,200145,200 25,100
image text in transcribedimage text in transcribedimage text in transcribed

Saw a similar question but answers posted were wrong. On March 31, 2021, the Herzog Company purchased a factory complete with vehicles and equipment. The allocation of the total purchase price of $1,090,000 to the various types of assets along with estimated useful lives and residual values are as follows: Asset Cost Estimated Residual Value

Dec 31, 2020 Dec. 31. 2019 Dec. 31. 2018 Current assets Cash $11.500 $35,100 $32,300 Accounts receivable 16.900 14,000 9,800 Inventory 171.400 124,800 116,900 I Prepaid expenses 7.500 8,100 6.500 Total current assets $207,300 $182,000 $165,500 Current liabilities Accounts payable $63.600 $48,200 $33,200 Salaries payable 5,100 5.900 4.100 Income
image text in transcribedimage text in transcribed

Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc. Balance Sheet Beginning Balance Ending Balance Assets Cash Accounts receivable Inventory Plant and equipment, net Investment in Buisson, S.A. Land (undeveloped) Total assets Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity
image text in transcribed

Jelly Galore (Pty) Ltd (Jelly Galore) is an entity that sells jelly worms. The entity uses the weighted average method to calculate inventory. The entity uses the perpetual inventory system. To date Jelly Galore has only sold jelly worms in one standard packet size. It is aiming to sell a large variety of jelly sweets in different sizes in the

PA10-1 (Algo) Calculating Return on Investment, Residual Income, Determining Effect of Changes in Sales, Expenses, Invested Assets, Hurdle Rate on Each [LO 10-4, 10-5] Coolbrook Company has the following information available for the past year: Sales revenue Cost of goods sold and operating expenses Net operating income Average invested assets The
image text in transcribedimage text in transcribedimage text in transcribed

Entry for Issuing Materials Materials issued are as follows: Journalize the entry to record the issuance of materials. If an amount box does not require an entry, lf ye it blank
image text in transcribed

PLEASE PROVIDE ME WITH EXPLANATION BE7.3 Apply internal control principles to handling cash. LO3 Aaron Tso is the merchandising manager for Franklin Office Supplies Ltd. During the month of April when the Franklin's accounts payable manager was on holiday, Aaron was responsible for receiving the goods that he ordered as well as approving payments
image text in transcribed

Showing 1 - 100 of 1500
  • 1 / 15