Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
A review of the ledger of Carmel Company at December 31, 2014, produces the following data pertaining to the preparation of annual adjusting entries.
1.
Prepaid Insurance $10,227. The company has separate insurance policies on its buildings and its motor vehicles. Policy B4564 on the building was purchased on April 1, 2013, for $7,956. The policy has a term of 3 years. Policy A2958 on the vehicles was purchased on January 1, 2014, for $4,260. This policy has a term of 2 years.
2.
Unearned Rent Revenue $389,640. The company began subleasing office space in its new building on November 1. At December 31, the company had the following rental contracts that are paid in full for the entire term of the lease.
Date
Term (in months)
Monthly Rent
Number of Leases
Nov. 1
9
$5,050
4
Dec. 1
6
$8,660
3.
Notes Payable $134,400. This balance consists of a note for 9 months at an annual interest rate of 11%, dated November 1.
4.
Salaries and Wages Payable $0. There are 8 salaried employees. Salaries are paid every Friday for the current week. 4 employees receive a salary of $690 each per week, and 4 employees earn $535 each per week. Assume December 31 is a Tuesday. Employees do not work weekends. All employees worked the last 2 days of December.
Prepare the adjusting entries at December 31, 2014. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
No.
Account Titles and Explanation
Debit
Credit
Dec. 31
Management desires to have ending finished goods inventory equal to 10% of the next quarter's expected unit sales. Prepare a production budget by quarter for the first 6 months of 2012.
design a set of best practices for the leadership of cross-cultural virtual teams. consider the following questions in
During the first week in November, Erin Mills worked 45 ½ hours and produced 1,275 units under a piece-rate system. The regular piece rate is $0.35 a unit. Mills is paid overtime according to the FLSA ruling for overtime work under piece-rate syst..
a. Estimate pension expense for 2006 assuming that the pension plan assumptions remain unchanged from 2006, service cost is 10% of beginning of year PBO and that the prior service costs and transition assets are being amortized over 20 years.
a building with an appraisal value of 129188.00 is made available at an offer price of 158591.00. the purchaser
Assuming Kuchman uses the par value method of accounting for its treasury stock, retained earnings at December 31, Year 2 would be reduced by:
Ligon Enterprises has prepared a production budget for October. Management has determined that the total required production for October is 800,000 units when an ending inventory of 10,000 units is desired and the beginning inventory is 6,000 unit..
On February 28,2011, Dow sold 60,000 common shares. In keeping with its long-term share repurchase plan, 2,000 shares were retired on July 1. Dow's net income for the year ended December 31,2011, was $2,100,000. The income tax rate is 40%.
What are the advantages and disadvantages of job order costing, procss costing, andactivity based costing systems.
"Navigate to the ACFE website and evaluate the CFE certification and discuss why the CFE skill sets are becoming more and more valued both within the corporate structure on external audit teams".
jordan who is paid monthly is single and claims 0 deductions. he earns 100000 per year as a manager at a firm.
on march 1 2016 gold examiner receives 158000 from a local bank and promises to deliver 96 units of certified 1-oz.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd