Factory Overhead $ 126,000.00 j. Close out the factory overhead balance to cost of goods sold. Debit Credit Description 3. k. Jobs completed during the period, $900,000. -5 Debit Credit Description 57 58 I. Cost of goods sold, $850,000. 59 Debit Credit Description 71 72
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- NOWV2 | Online teachin x + EAssignment/takeAssignmentMain.do?invoker3&takeAssignmentSessionLocator%=&inprogress=false eBook Show Me How July 31 Not 1-30 31-60 61-90 Over 90 Past Days Days Days Days Customer Balance Due Past Due Past Due Past Due Past Due Subtotals 1,050,000 600,000 220,000 115,000 ৪5,000 30,000 Boyd Industries 36,000 36,000 Hodges Company 11,500 11,500 Kent Creek Inc. 6,600 6,600 Lockwood Company 7,400 7,400 Van Epps Company 13,000 13,000 Totals 1,124,500 607,400 233,000 121,600 96,500 66,000 Percentage uncollectible 1% 3% 12% 30% 75% Allowance for Doubtful Accounts 106,106 6,074 6,990 14,592 28,950 49,500 Assume that the allowance for doubtful accounts for Evers Industries has a credit balance of $8,240 before adjustment on July 31. Journalize the adjusting entry for uncollectible accounts as of July 31. If an amount box does not requre an entry, leave it blank. 88 July 31 Next Check My Work Email Instructor Save and Exit Submit Assignment for GradinSave Off 囧 Assign1C_451v14_Nov16_2021 Home Insert Page Layout Formulas Data Review View Help Cut Calibri 12 A A EE 87- V ab Wrap Text [Copy ✓ BIU A- v V v ====Merge & Center Clipboard Font Alignment ✓ fr H AI AJ AK AL AM AN AO AP AQ AR Assignment 1: Question 1 (a) Version 5 On July 1, 2021, Bird Inc., a private enterprise, acquired 1,250 shares of Duck Ltd. for $75,000. This investment represents a 14% interest in Duck Ltd. and Bird Inc. uses the cost method to record the investment. On October 31, 2021, Duck Ltd. paid a $50,000 dividend to its shareholders. At December 31, 2021, Duck Ltd.'s shares were valued at $40 per share and Duck Ltd. reported a net loss of $50,000 for the year. On March 15, 2021, Bird Inc. sold the shares for $125,000. Both Bird Inc. and Duck Ltd. have December 31, 2021 year gepacem fan to read 540 © Atro Derck ( loss of S Required: Prepare dated journal entries for the investment on the acquiring company's books from acquisition to disposal. Ignore income…Home Insert Page Layout Formulas Data Review View Help - 10 - A A Insert v Σ Arial ab General EXDelete v BIU $- % 9 0 0 Conditional Format as Cell Sort & Formatting Table - Styles v Format v Filter oard Font Alignment Number Styles Cells Editing fr C D H. The following amounts summarize the financial position of Little Black Dog Inc. on May 31, 2021: В F G IJK L M N O P Q R S V W Assets Liabilities Shareholders' Equity %D Cash + Accounts Computers + + Supplies + Land Accounts + Note Salaries + Interest Common + Retained Receivable (net) Payable Payable Payable Payable Shares Earnings Balance 1820 700 70 8400 5600 2800 2590 During June 2021, the business completed these transactions: June 1: Received cash of $6300 and issued common shares. June 1: Bought two computers for a total of $5600 by paying $1400 down and signing a note payable for the rest. Interest of 5% to be paid with the note payable on June 1, 2022. The computers are expected to last 5 years. June 5: Performed services for…
- AutoSave Off H2C File Home Insert Draw Page Layout Formulas Data Review A26 X A B C D E 1 Employee Data 2 EmpLastname EmpFirstName EmpGender EmpHireDate EmpBasePay 3 Jones Karen F 11-Aug-91 $2,000.00 4 Payne F 05-Dec-94 $3,500.00 Kathy Adrian 5 Morgan M 25-Oct-93 $6,000.00 6 Yuan F 01-Mar-97 $5,000.00 M 26-Apr-97 $5,000.00 7 Payne 8 Clarkson Gail Justin Shandra Richard Melinda F 30-May-97 $3,000.00 9 Briones M 28-Apr-98 $4,500.00 17-Oct-97 $3,000.00 10 Reetz F 11 Jones William M 12 Garza Jeffery M 12-May-92 $3,500.00 06-Jan-96 $2,500.00 29-Jun-93 $2,500.00 13 Lucio Tanner M 14 Baldwin Kristina F 21-Mar-98 $2,000.00 15 Nguyen James M 09-Jul-95 $2,000.00 16 Bauer Nelda F 08-Aug-98 $3,000.00 17 Kennemer Mandi F 07-Jul-99 $2,000.00 18 19 Name: \| ||| |||| ||||| || 20 Instructions: Using the worksheet above to answer the following questions: 21 22 23 24 25 26 27 4 Ready fx View Add-ins G Criteria EmpGender F Criteria EmpGender M Criteria EmpGender EmpHireDate M <01/01/1997 23500.00 (1) What…Chrome File Edit View History Bookmarks 3 J 4 X с Week 4 Hom X P Short Exercis X G Dalton Hair S X C For each acc X plus.pearson.com/products/658729f2-cb81-45ee-babb-bf032e847a35/pages/urn:pearso... Profiles Tab Window Help End of Chapter: Completing the Accounting Cycle 5 6 32 Total 33 Net (b) 34 Total 35 balance as the Retained Earnings account? 3. Which type of income statement account has the opposite type of balance as the Retained Earnings account? S-F:4-7. Determining net income using a worksheet (Learning Objective 2) A 4. What do we call the difference between total debits and total credits on the income statement section of the worksheet? A partial worksheet for Ramey Law Firm is presented below. Solve for the missing information. Income Statement Debit (a) 8,375 (d) K 23 C For each aces Credit $ 24,850 $24,850 L Debit $ 211,325 Balance Sheet (e) X + M tv O Credit $ 202,950 (c) (f) O AA- S-F:4-8. Determining net loss using a worksheet (Learning Objective 2) A partial…p.mheducation.com/ext/map/index.html?_con=con&external_browser%3D0&launchUrl=https%253A%252F%252Flms.mhe D and P Indeed 6 Monster Jobs w Degree Programs O L02 A Hearn: Student Da.. 6 Consumer Center ework: Assignment 1 i Saved Perez Company reported the following operating results for two consecutive years: Required Compute each income statement component for each of the two years as a percentage of sales due to rounding. Round your percentage answers to 1 decimal place. (i.e., 0.234 should be e PEREZ COMPANY Vertical Analysis of Income Statements Percentage of Sales Percentage of Sales Year 4 Year 3 Sales 1,077,500 00S'000'L Cost of goods sold 550,275 000 Z09 Gross margin on sales 450,225 475,500 Operating expenses 130,500 149,800 319.725 325,700 Income before taxes 79.700 81,800 Income taxes 240.025 243.900 % Net income
- IM-MODULE-3-Account X + -> file:///C:/Users/user/Documents/QUIJANO,%20JAN%20CLEO%20C/ACCOUNTING/IM-MODULE-3-Accounting-Fundamentals-P1-M.Chan%20(1).pdf ... IMIƆ - EXercises I Debits and Credits Innovative Designs, owned by Bartolome Pozon, has been operating for two years. Below is a series of transactions. For each transaction, indicate the accounts that should be debited and credited. If no journal entry is required, write "n/a" in the columns. Use the following account titles: Cash; Accounts Receivable; Supplies; Prepaid Expenses; Equipment; Patents; Accounts Payable; Notes Payable; Salaries Payable; Pozon, Capital; Pozon, Withdrawals; Service Revenues and Operating Expenses. Transactions Debit Credit Purchased equipment for use in the business; paid one- third cash and gave a note payable for the balance. b. Paid cash for salaries. C. Collected cash for services performed this period. Collected cash for services performed last period. Performed services this period on credit. f.…Conne X + meducation.com/ext/map/index.html?_con=con&external_browser=0&launch Url=https%253A%252F%252Fmybsc.bryantstratton.edu%252Fwe - Connect Assignment 1 i Saved F Required information [The following information applies to the questions displayed below.] Following are the transactions of a new company called Pose-for-Pics. August 1 M. Harris, the owner, invested $14,500 cash and $62,350 of photography equipment in the company. August 2 The company paid $4,000 cash for an insurance policy covering the next 24 months. August 5 The company purchased supplies for $2,755 cash. August 20 The company received $2,950 cash from taking photos for customers. August 31 The company paid $885 cash for August utilities. Open a ledger account for Cash in balance column format. Post general journal entries that impact cash from above transaction ledger account for cash. ces 101: Cash Date Debit Credit Balance of 10 www www Next > ( Rain off and on re to search ins O 4 R 15 % 5 T 40 6 O Y 17 < Prev…A ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnew Ch 10 Concept Videos i 6 Part 2 of 5 .75 oints eBook Ask Print References Mc Graw Hill Required information Journal entry worksheet 1 On December 31 Wintergreen, Inc., issued $150,000 of 7 percent, 10-year bonds at a price of 93.25. Note: Enter debits before credits. Date Dec. 31 General Journal Cash Discount on bonds payable Bonds payable Record entry Clear entry < Prev. Saved C Debit 139,875 S 678 HCC FIL 9 Credit View general journal of 35 US N
- con=con&external_browser=0&launchUrl=https%253A%252F%252Fblackboard.waketech.edu%252Fwebapp Given the following: 29 day billing cycle 4/17 Billing date previous balance $1,100 4/27 Payment 4/29 Charge 5/7 Payment 2$ 700 2$ 300 24 50 The average daily balance is: Multiple Choice $910.34 $810.43 None of theseile Edit View History Favorites Tools Profiles Tab Window Help rse Exami 9 nts https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation. eBook Mc Graw Hill Exercise 2-8 (Algo) Preparing journal entries LO A1 Following are the transactions of Sustain Company. June 1 T. James, owner, invested $11,50 cash in Sustain Company in exchange for common stock. June 2 The company purchased $4,500 of furniture made from reclaimed wood on credit. ✪ June 3 The company paid $700 cash for a 12-month prepaid insurance policy on the reclaimed furniture. June 4 The company billed a customer $3,500 for sustainability services provided. June 12 The company paid $4,500 cash toward the payable from the June 2 furniture purchase. June 20 The company collected $3,500 cash for services billed on June 4. June 21 T. James invested an additional $10,500 cash in Sustain Company in exchange for common stock. June 30 The company received $5,500…eAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress%3Dfalse e Page | Zora... Welcome, Quente... E Library Genesis Macmillan Launch... (7) YouTube O11- My Conversations... bnc Apparel, Gifts & T... 国 >> a. Complete the materials issuances and balances for the materials subsidiary ledger under FIFO. Received Issued Balance Receiving Materials Unit Report Quantity Requisition Quantity Unit Price Amount Date Quantity Amount Number Number price May 1 400 $9 $3,600 26 280 $11 May 4 103 450 May 10 32 190 13 May 21 116 270 May 27 b. Determine the materials inventory balance at the end of May. C. Journalize the summary entry to transfer materials to work in process. If an amount box does not require an entry, leave it blank. d. Comparing as reported in the materials ledger with predetermined order points would enable management to order materials before a(n) causes idle time. %24 %24