Reference no: EM132083309
Question: Warren Plastic, LLC complete these transactions in year 1 and year 2. Give general journal entries for them. Use excel and show calculations.
date yr
2/17 1 Purchased equipment for 47,000, signed a 3 month note, 9.25%.
2/28 1 Recorded the month's sales of 205,000, one-third cash, two-third's credit.
Sales tax rate is 5.1%
3/20 1 Sent Feb. sales tax to the state.
5/17 1 paid off the note dated 2-17-yr 1
5/31 1 Borrowed $185,000 on a long-term note, 7.65% note payable
Annual interest is to be paid each year on 5-30, starting yr. 2.
9/30 1 bought inventory at a cost of 26,300. Signed a 5 month 5.5% note.
12/31 1 Accrued warranty expense, estimated at 1.75% of 625,000 of sales
12/31 1 Accrued Interest on ALL outstanding notes.
2/28 2 Paid off the inventory note at maturity, including interest.
5/30 2 Paid the annual interest on the 185,000 note.
|
How many dollars does washington corporation currently sell
: Washington Corporation sells a product for $400 per unit. Its market share is 35 percent of the units sold. The marketing manager believes that the market share
|
|
How much of the maintenance cost is made up
: A clothing manufacturer incurred the following factory maintenance costs: 2,100 units produced, How much of maintenance cost is made up of fixed cost
|
|
How much do you need to save each month
: You want to have $2,000,000 saved by the time you retire which is in 45 years. You can invest your money in a portfolio that is estimated to earn 8% per year.
|
|
Compute the test statistic for a hypothesis test
: Compute the test statistic for a hypothesis test using a significance level of 0.05.
|
|
Complete the given transactions
: Warren Plastic, LLC complete these transactions in year 1 and year 2. Give general journal entries for them. Use excel and show calculations.
|
|
Prepare the journal entry to record amortization expense
: In the first year 50,000 tonnes of ore are extracted and sold. Prepare the journal entry to record amortization expense for the first year
|
|
Compute the amount of depletion expense
: Washington Company estimates that when the company is finished mining the coal, it will be able to sell the land for $179,000.
|
|
What is the maximum amount alex can withdraw
: What is the maximum amount Alex can withdraw during her first year of retirement? For simplicity, assume that the first withdrawal will occur in one year
|
|
Support the researcher claim at a significance level
: A sample of n = 9 children in the community, when tested, yields a sample mean of 112.8. Does this sample support the researcher's claim at a significance level
|