Complete the table by allocating the expenses

Assignment Help Accounting Basics
Reference no: EM131922292

Question: Advertising department expenses of $25,300 and purchasing department expenses of $20,200 of Cozy Bookstore are allocated to operating departments on the basis of dollar sales and purchase orders, respectively. Information about the allocation bases for the three operating departments follows.

 Department Sales Purchase Orders
  Books $182,400   1,025
  Magazines 87,400 625
  Newspapers 110,200 850
  Total $380,000 2,500

Complete the following table by allocating the expenses of the two service departments (advertising and purchasing) to the three operating departments. (Amounts to be deducted should be indicated with minus sign.)

Reference no: EM131922292

Questions Cloud

What is the book-tax difference : What is its 2016 book-tax difference associated with its NOL? Is it favorable or unfavorable? Is it permanent or temporary?
Determine the estate tax liability : On the advice of her estate planner, Grace made taxable gifts of $5 million in the 2011. Grace dies in late 2016 leaving a taxable estate of $1.1 million.
Review problem of the agent blaze : Agent Blaze uses flexible budgets that are based on the following data: Prepare a flexible selling and administrative expenses budget for January 2016.
What is the remeasured value of the land account : Assume that Aerkion is a foreign subsidiary of a U.S. multinational company. On the December 31, 2015, balance sheet.
Complete the table by allocating the expenses : Complete the following table by allocating the expenses of the two service departments (advertising and purchasing) to the three operating departments.
Where would you begin to make sense of the mess : Where would you begin to make sense of this mess and what steps would you take to provide him a set of financial statements using accrual accounting?
Prepare flexible selling and administrative expenses budget : Prepare a flexible selling and administrative expenses budget for January 2016, for sales volumes of $90,000, $115,000, and $135,000.
Find the expected value of social security payments : You are advising a friend who has a decision to make regarding Social Security. He is about to turn 62 years old, and is eligible for early Social Security.
Prepare the journal entry to record the revaluation : The following is included in AF's disclosure note 4.12: "Intangible assets are held at initial cost less accumulated amortization and any accumulated.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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