Gerald paid $1730 to install a lift which was hydraulic in nature and an air filter which costs $88 for its main truck used for delivery. With the information given journalize the entries for both.
Q: Dash Company adopted a standard costing system several years ago. The standard costs for the prime c...
A: Note: As per our guidelines, only the first three subparts will be answered. d. Materials price va...
Q: Yarmouth Company produces a liquid solvent in two departments: Mixing and Finishing. Accounting reco...
A: Cost per Equivalent Unit = Total cost to be accounted for / Total units to be accounted for Units in...
Q: What is the incremental cost associated with this special order
A: Since 2/3 of overhead is fixed, the remaining 1/3 will be variable. Overhead cost per unit ₱ 3 ...
Q: 1 The mean of marks in Statistics of 100 students in a class was 72. The mean of marks of 70 boys wa...
A: Mean is one of the calculation that is used for analysis. This is known as average of the total popu...
Q: Data pertaining to Lakers Co.’s manufacturing operations: INVENTORIES April 1, 20X1 April 30,...
A: Cost of goods sold (COGS): The cost of goods sold budget shows the expenses incurred for producing a...
Q: Garrett tampers with the odometer of a car he is trying to sell. In the buyer that the car has run f...
A: In this question, we have given a situation in which we gave to identify and then we will select an ...
Q: Use the following information to answer questions. (Algo)
A: Applied overhead seems to be a sort of direct overhead charge that is documented using the cost-acco...
Q: SOUND CORE WIRELESS sells a variety of mobile telephone accessories including several brands of Wir...
A: Perpetual Inventory System – Under Perpetual inventory system on every sales transaction cost of goo...
Q: Which costs will change with a decrease in activity within the relevant range? Unit variable cost an...
A: Cost can be classified into two categories i.e fixed cost and variable cost. The fixed cost remains ...
Q: CHAPTER 6: JOINT ARRANGEMENTS 16. Berlin and Rio are participants in a joint arrangement for the pur...
A: Wining bid 400000 Share of berlin in the bid 200000 Share of Rio in the bid 200000
Q: Steph Company’s direct labor costs: Standard direct labor hours 30,000 Actual direct labor ho...
A: Labor variance type of variance that focuses on the rates of labor and the hours of labor. in this v...
Q: ABC has a major supplier that offers a credit term of 2/15, n/45. Cash not yet used for payments are...
A: creditors are considered to be important part of the effective cash management system .It is impor...
Q: The Clarke Chemical Company produces a special kind of body oil that is widely used by professional ...
A: In process costing to calculate the cost of semifinish...
Q: Assume an investor deposits $115,332 in a professionally managed account. One year later, the accoun...
A: The holding period refers to the time limit until when the securities or investments are being acqui...
Q: discuss the different instances when there is no duty to disclose in insider trading
A: Answer: Insider trading is the trading of internal information to outside market which is illegal. T...
Q: benefits of a loss carryforward, assume that it is probable that the related benefits will be realiz...
A: Hi student, Since there are multiple subparts, we will answer only first three subparts. Deferred ...
Q: Good Call is a delivery business that provides its services in cash and on credit. It has a large fl...
A: The income statement is one of the important financial statements of the business, which tells about...
Q: Please prepare a statement of cash flows using the following data. Please include any equations or c...
A: Cash Flow statements are the statement of changes in cash in an organization. Any non-cash item will...
Q: BITCO purchased a vehicle for $30,000 on July 1, 2020. BITCO's fiscal year ends on December 31, 202...
A: The question is based on the concept of Depreciation Accounting.
Q: What are the main types of decisions made by the financial managers of a company?
A: FINANCIAL manager are managers responsible for important decisions in the company and responsible ...
Q: Hache Corporation uses the weighted-average method in its process costing system. The first processi...
A: Lets understand the basics. In weighted average costing, costs are average out and applied evenly on...
Q: Fill in the blank for part A and B. A. Higher margin businesses ________________________ than lowe...
A: Net Margin or net profit margin:- It is the measure of how net profit or net income is generated as ...
Q: Consider the unadjusted trial balance of Riverdale Company at June 30, 2016, and the related month-e...
A: Note : Since you have posted a question with multiples sub-parts , we will do the first three sub-pa...
Q: 1.New CEO is quite domineering and dictates accounting issues. Answer the following question a.ls th...
A: Since you have asked multiple sub parts, we will solve the first three sub parts for you. If you wan...
Q: Handy Crafts manufactures to customers’ specifications. The company uses a job order cost system and...
A: Ending work in process inventory = Beginning work in process Inventory + Manufacturing costs - Cost ...
Q: Required information Use the following information to answer questions. (Algo) [The following inform...
A:
Q: Barton Industries estimates its cost of common equity by using three approaches: the CAPM, the bond-...
A: CAPM = Risk free rate + beta * market risk premium Bond yield plus risk premium = Bond yield + risk ...
Q: Problem 13-12 (IAA) In December 2021, Unanimous Company had a significant portion of inventory stole...
A: The cost of goods sold is calculated as difference between cost of goods available for sale and endi...
Q: fill out the yellow highlighted cells based on the information provided
A: There are several forms of cost accounting that is being used in business. One of them is Job costin...
Q: The monthly income statement for Jordan Stores is given below: 1st Branch 2nd Branch Total...
A: In the given question, if 1st branch is eliminated, all the revenues and costs associated with the b...
Q: What is the double entry system in accounting?
A: Solution Note : Dear student as per the Q&A guideline we are required to answer the first questi...
Q: The City of Evansville operated a summer camp program for at-risk youth. Businesses and nonprofit or...
A: A journal entry is a form of accounting entry that is used to report a business transaction in a com...
Q: PROBLEMS Problem 13-1 (IFRS) Forester Company provided the following assets in a fore plantation and...
A: Computation of the amounts of the biological assets and property, plant and equipment is as follows:
Q: Growth rate used in forecasting the sales in formula in computing the Additional Funds Needed should...
A: Answer: Growth rate used in forecasting the sales in formula in computing the Additional Funds Neede...
Q: In the standard cost formula Y = a + bX, what does the "Y" represent? total cost variable cost per u...
A: Variable cost: Variable cost refers to that cost which gets increased with the increase in the volum...
Q: Required information [The following information applies to the questions displayed below.] Universit...
A: The depreciation expense is charged on fixed assets as reduced value of the fixed asset with usage a...
Q: how much is the Additional Financing Needed for the entire 4 years (total AFN for the 4-year period)...
A: AFN is the Additional financing needs of the organization which is planning to expand its business. ...
Q: 17. Narrow bracketing of investments in a portfolio of risk assets can lead to which of the followin...
A: Narrow investment in risk assets leads to more exposure of risk. It may also lead to exposure to opt...
Q: Prepare the journal entries for the above events for the month of February 2022 in the General Journ...
A: Journal entry is the basic entry and as well the first entry which is recorded journal book of the c...
Q: The cost of goods sold is equal to 400% of selling expenses. What is the cost of goods available for...
A: Php 860,000 is the cost of goods available for sale.
Q: IS OHly p Cost $9 each. The CO petual inventory system and the FIFO cost method The following transa...
A: The answer is stated below:
Q: One reason that an cntity is allowed to change its accounting policy is when It is required by an a...
A: Accounting Policies- Accounting principles are the ethics that are to be followed by an accountant ...
Q: ce increasing the inc ly using a hypothet. d and clothes and s- alothoo oont $20/it
A: Wallmat uses very different strategies to grow their business. The above mentioned is one of them. B...
Q: Determine whether the firm reports each of the following items as part of cash and cash equivalents ...
A: Item Cash or Cash equivalent? (Yes or No) 1 Accounts receivable No 2 30 day treasury bill Yes ...
Q: ,500 into a bank account that paid an interest rate of 5.5 ths. Find the interest earned after 3 yea...
A: Interest earned = Future Value of sum - Principal amount Future Value = P *(1*i)^n Principal amount ...
Q: Bank Reconciliation: Identify whether the item should be added or subtracted from the bank balance o...
A: The bank reconciliation statement is prepared to equate the balance of cash book and pass book with ...
Q: Milktopia, Inc. produces and sells milk flavored bubble gum. Over the last fiv months Milktopia had ...
A: The fixed cost and variable cost per month can be calculated with the help of high low method.
Q: Walsh & Coggins, a professional accounting firm, collects cost information about the services they p...
A: Cost Data It is important to collect required cost information which are pertained with the business...
Q: On 17 June 2020, RM7,000 was saved in a bank that offered 6.6% simple interest per annum. Find the a...
A: Solution Concept Under exact simple interest number of days taken in a year is 365 days Given Da...
Step by step
Solved in 2 steps
- On October 9, Wonder Inflatables Co. paid $1,150 to install a hydraulic lift and $40 for an air filter for one of its delivery trucks. Journalize the entries for the new lift and air filter expenditures.On April 29, Welllington Co. paid $3,230 to install a hydraulic lift and $46 for an air filter for one of its delivery trucks. Journalize the entries for the new lift. Journalize the entry for air filter expenditures.Quality Move Company made the following expenditures on one of its delivery trucks:Mar. 20. Replaced the transmission at a cost of $1,890.June 11. Paid $1,350 for installation of a hydraulic lift.Nov. 30. Paid $55 to change the oil and air filter.Prepare journal entries for each expenditure.
- Carla Vista Co. had the following two transactions related to its delivery truck. 1. Paid $48 for an oil change. 2. Paid $549 to install special shelving units, which increase the operating efficiency of the truck. Prepare Carla Vista Co.’s journal entries to record these two transactions.Sandhill Co. had the following two transactions related to its delivery truck. 1. Paid $55 for an oil change. 2. Paid $447 to install special shelving units, which increase the operating efficiency of the truck. Prepare Sandhill Co.’s journal entries to record these two transactions.How do I do a general journal on this entry? Master Flow purchased a specialized pipe bending machine for the Warehouse. The machine has a purchase price of $8,000. It will cost $300 to have it delivered; $500 to have it setup and it requires a custom platform that will cost $1,000. The machine uses disposable grommets. Scott purchases an initial lot of $200 pieces of the disposable grommets for $200. The Manufacturer for the Machine is providing $10,000, 90 Day financing at a 10% interest rate for the purchase.
- On February 14, Garcia Associates Co. paid $2,300 to repair the transmission on one of its delivery vans. In addition, Garcia paid $450 to install a GPS system in its van. Journalize the entries for the transmission and GPS system expenditures.Ricks Towing Company owns three tow trucks. During the current year, Rick performed maintenance on the trucks and realized he had to make improvements to the engines on two of his trucks. The improvements totaled 55,000. Prepare the journal entries Rick may make under two alternative methods for the improvements made to his trucks.Karl has been hired to install a new air conditioning system in a building. The total cost of the project is $14,000. Karl charges $1,500 for labor plus 1/6 of the cost of the equipment and supplies. If Karl's expenses for the equipment and supplies are $4,000 more than his estimate, how much did the equipment and supplies cost? Mmhnmkuuhbjj
- Quality Freight Company made the following expenditures on one of its delivery trucks: Marc 20. Replaced the transmission at a cost of $1,890 June 11. Paid $1,350 for installation of a hydraulic lift Nov. 30. Paid $55 to change the oil and filter As the accountant of Quality Freight prepare journal entries for each expenditure:State whether each of the below is Capital Expenditure or Revenue Expenditure. 1 Purchase of new delivery vehicle 2 Payment of an invoice for advertising 3 Costs of clearing the site ready for an extension to the factory building 4 Signwriting on the outside of the new delivery vehicles 5 Redecoration of the office 6 Payment of delivery driver’s wages 7 Fuel for delivery vehicles 8 Fitting of shelving in delivery vehicle 9 Clay for making the pets toys 10 Wages of sales staff 11 Purchase of potters wheel for use in the business 12 Installation costs for the potters wheel 13 Wages os staff operating the potters wheel 14 Redecoration of store room 15 Payment of extra wages to own staff for fitting the alarm and cctv 16 Payment of architect fees for designing the proposed new shop 17 Purchase of new telephones system for…Oriole Company had the following two transactions related to its delivery truck. 1. Paid $51 for an oil change. 2. Paid $417 to install special shelving units, which increase the operating efficiency of the truck. Prepare Oriole Company's journal entries to record these two transactions.