Accounting records for huggins construction company

Assignment Help Accounting Basics
Reference no: EM13258416

The following data were summarized from the accounting records for Huggins Construction company for the year ended June 30,2008.

Cost of goods sold:

Residential Division 300,000

Industrial Division 167,840

Administrative expenses:

Residential Division 80,320

Industrial Division 66,560

Service Department:

Residential Division 54,240

Industrial Division 24,960

Net Sales:

Residential Division 516,000

Industrial Division 321,920

Prepare divisional statements for Huggins Construction Company.

Reference no: EM13258416

Questions Cloud

What is the price of the bill : A T-bill with face value $10,000 and 80 days to maturity is selling at a bank discount ask yield of 2.7%.
Compute the budgeted profit : Compute the budgeted profit at the expected volume of 600,000 units under both the old and the new production environments.
Compute the cost of preferred stock for medco corp : Medco Corporation can sell preferred stock for $106 with an estimated flotation cost of $2. It is anticipated that the preferred stock will pay $6 per share in dividends.
Explain portions of aluminum and phosphorous : What would the molecular orbital diagram for a compound made of equal portions of aluminum and phosphorous look like
Accounting records for huggins construction company : The following data were summarized from the accounting records for Huggins Construction company for the year ended June 30,2008.
Advocate trade barriers to protect jobs : Unions in developed nations often oppose imports from low-wage countries and advocate trade barriers to protect jobs from what they often characterize as “unfair” import competition.
Explain how each of these design tools : Explain how each of these design tools are used to represent the programming logic for the two requirements to express the Balance: ?Problem analysis chart ?Structure chart ?IPO chart ?
What is its aftertax cost of debt : Telecom Systems can issue debt yielding 12 percent. The company is in a 30 percent bracket. What is its aftertax cost of debt?
Design a simple power factor meter to operate from mains : 1. design a simple power factor meter to operate from 230v mains. current range=1 to 10 amps. power factor range : 0.4 to 1 2. what is meant by normal mode rejection an A/D converter has 20ms integration time.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Which calculation would be the best one for cresol

Cresol Corporation has a large number of potential investment opportunities that are acceptable. However, Cresol does not have enough investment funds to invest in all of them. Which calculation would be the best one for Cresol to use to determine..

  Decision to record the two million dollar loss

If the hurricane hits our business, we can reasonably be assuredthat we will incur a $2 million loss. We want to finish closing March's books. Should we record the $2million loss? Why or why not?

  Preparing a suspense account

Required: Given rectifying entries and prepares a suspense account.

  Tentatively planning to cut fixed costs

The same selling price is expected for 2011. Logan's variable cost per unit will rise by 10% in 2011 due to increasing material costs, so they are tentatively planning to cut fixed costs by $10,000. How many units must Logan sell in 2011 to mainta..

  Journal entry to record pension-related amounts

The interest (settlement) rate applicable to the plan is 10% On January 1, 2011, the company amends its pension agreement so that service costs of $500,000 are created. Other data related to the pension plan are as follows:

  Difference between carrying amount of asset

The carrying amount of the asset surrendered by Scott exceeded both the fair value of the asset received and Dale's carrying amount of that asset. If the transaction lacks commercial substance, Scott should recognize the difference between the car..

  Determine consolidated net income-transfer prices

Slagle Corporation is a large manufacturing organization. Over the past several years, it has obtained an important component used in its production process exclusively from Harrison, Inc., a relatively small company in Topeka, Kansas. Harrison ch..

  Capital budget financed with debt

It finances with debt and common equity, but it wants to avoid issuing any new common stock during the coming year. Given these constraints, what percentage of the capital budget must be financed with debt?

  What is the year-end balance of the equity investment

During the year, Best Pictures reports net income of $350,000 and pays $90,000 of cash dividends. At the end of the year, the market value of Berlin's investment is $3.7 million. What is the year-end balance of the equity investment in Best Pictur..

  Common source of asset write-offs

What is a common source of asset write-offs?

  Production cost information

Consider the production cost information for Santiago's Salsa in Problem 1-1. The company is currently producing and selling 325,000 jars of salsa annually.The jars sell for $5.00 each. The company is considering lowering the price to $4.60. Suppo..

  Did the corporation recognize any gain as a result

Was the gain realized by the shareholder on the exchange recognized by the shareholder? Yes or no, and why or why not?

Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd