far 1 Cash RI 15,000.00 Bill Wiliams, Capital 3 Supplies Cash 15,000.00 2 CI 750.00 750.00 4 5 Prepaid Insurance Cash C2 1,200.00 1,200.00 SSupplies MI 1,000.00 Accounts Payable-Lowe's Supply 1,000.00

kasembe ltd is considering its plans for the year ending 3i december 2014. it makes and sells a single product, which has budgeted costs and selling price as follows: selling price $45 per unit, direct materials $11 per unit, direct labour $8 per unit. production overhead: variable $4000 per unit, fixed $$3000. Selling overhead: variable $5000, fixed $2000. Adminstration overhead: fixed $3000. fixed overhead costs per unit are based on a normal annual activity level of 96000 units. these costs are expected to be incured at a constant rate throughout the year. activity levels during january and february 2014 are expected to be:january sales 7000 units, production 8500 units; february sales 8750 units, production 7750 units. assume that there will be no stock held on 1 january 2014. required; a) prepare profit statements for each of the two months of january and february using; absorption costing and marginal costing. reconcile and explain the reasons for any differences

Put everything in the general journal

Prepare journal entries to record the transactions reflected in items a through g.

What is the purpose of posting J.F numbers that are entered in the journal at the time entries are posted to the accounts.

Posting:a. involves transferring the information in journal entries to the general ledger.b. is an optional step in the accounting cycle.c. is performed after a trial balance is prepared.d. involves transferring information to the trial balance.