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Denzel Brooks opens a Web consulting business called Venture Consultants and completes the following transactions in March. March 1 Brooks invested $185,000 cash along with $27,000 in office equipment in exchange for common stock. 2The company prepaid $9,000 cash for six months' rent for an office. (Hint: Debit Prepaid Rent for $9,000.) 3The company made credit purchases of office equipment for $3,300 and office supplies for $1,900. Payment is due within 10 days. 6The company completed services for a client and immediately received $3,000 cash. 9The company completed a $9,200 project for a client, who must pay within 30 days. 12 The company paid $5,200 cash to settle the account payable created on March 3. 19 The company paid $8,000 cash for the premium on a 12-month insurance policy. (Hint: Debit Prepaid Insurance for $8,000.) 22The company received $5,000 cash as partial payment for the work completed on March 9. 25 The company completed work for another client for $4,240 on credit. 29 The company paid $5,700 cash in dividends. 30 The company purchased $1,000 of additional office supplies on credit. 31 The company paid $1,000 cash for this month's utility bill. 1.Prepare general journal entries to record these transactions. 2.Post the journal entries from part 1 to the ledger accounts. 3.Prepare a trial balance as of the end of March.
The Amount Budgeted factory overhead 675,000 Budgeted machine hours 20,000 Actual direct labor cost 482,000 Budegeted direct labor costs 450,000 If the company uses estimated direct labor costs as its activity base Whats the overhead application r..
which of the following costs would be classified as variable and which would be classified as fixed if units produced
anderson company uses the indirect method of preparing the statement of cash flows and reports the following
The benefits of comparing actual performance of the operations against planned goals include all of the following except:
Identify the features common to the gift tax formula and the estate tax formula. What is the lifetime gift tax exemption in tax year 2012? What is that exemption amount in 2013?
the balance sheet is one of the first financial statements i turn to when reviewing a company. you can learn a lot
you are given an annuity immediate paying 22 annually for twenty years. after the twenty years the payments decrease by
In addition, some of CJP's facilities could be rented to a third party for $15,000 per year. What are the relevant costs for the "make" alternative?
An internal transfer between two divisions is in the best economic interest of the entire organization when:
list a few of the issues and considerations businesses should have when it comes to the selection of long-term
On August 1, 2009, Columbo Co.'s treasurer signed a notepromising to pay $240,000 on Dec. 31, 2009. The proceeds of thenote were $232,000.
parker manufacturers produces can openers. for the first six months of 2011 the company reported the following
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