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!
The adjusted trial balance for Calla hay Company as of December 31, 2011, follows.
Cash
$ 22,000
Accounts receivable
44,000
Interest receivable
10,000
Notes receivable (due in 90 days)
160,000
Office supplies
8,000
Automobiles
Accumulated depreciation-Automobiles
$ 42,000
Equipment
130,000
Accumulated depreciation-Equipment
Land
70,000
Accounts payable
88,000
Interest payable
12,000
Salaries payable
11,000
Unearned fees
22,000
Long-term notes payable
J Callahay, Capital
247,800
J Callahay, Withdrawals
38,000
Fees earned
420,000
Interest earned
16,000
Depreciation expense - Automobiles
18,000
Depreciation expense - Equipment
Salaries expense
180,000
Wages expense
32,000
Interest expense
24,000
Office supplies expense
26,000
Advertising expense
50,000
Repairs expense - Automobiles
16,800
Totals
$998,800
Required
1. Use the information in the adjusted trial balance to prepare
(a) the income statement for the year ended December 31, 2011;
(b) the statement of owner's equity for the year ended December 31, 2011;
(c) the balance sheet as of December 31, 2011.
2. Calculate the profit margin for year 2011.
Explain the budgeting process and its importance to a business, identifying the components of different budgets, forecast estimates for inclusion in the budgets.
Prepare a retained earnings statement for the year and Prepare a stockholders' equity section of given case.
Prepare a master budget for the three-month period.
Construct the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.
Evaluate the Predetermined Overhead Rate
Determine the company's bid if activity-based costing is used and the bid is based upon full manufacturing cost plus 30 percent.
Complete the schedule to compute the pool rates for the different activities.
Prepare Company financial statements
This individual assignment is based on the TerraCycle Inc.
Discuss the ethical issues
Calculate the GDP in Income Approach and Expenditure Approach
A new plant accountant suggested that the company may be able to assign support costs to products more accurately by using an activity based costing system that relies on a separate rate for each manufacturing activity that causes support costs.
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