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Rizio Co. purchases a machine for $12,500, terms 2/10, n/60, FOB shipping point. The seller prepaid the $360 freight charges, adding the amount to the invoice and bringing its total to $12,860. The machine requires special steel mounting and power connections costing $895. Another $475 is paid to assemble the machine and get it into operation. In moving the machine to its steel mounting, $180 in damages occurred. Also, $40 of materials is used in adjusting the machine to produce a satisfactory product. The adjustments are normal for this machine and are not the result of the damages. Compute the cost recorded for this machine. (Rizio pays for this machine within the cash discount period.)
washington county assumed the responsibility of collecting property taxes for all governments within its boundaries. in
There are 50 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost by (a) the firstin, first-out method, (b) the last-in, first-out method, and (c) the average cost method.
the accounting records of jefferson industries provided the data below.net income78000depreciation21000decrease in
during 2010 gary earned 57000 as an executive. gary who is single supported his half sister who lives in a nursing
carroll company has two product lines q and p. during june the companys net operating income was 25000 and the common
DNA Corporation issued $4,000,000 in 8 percent, 10-year bonds on February 1, 2010, at 115. Semiannual interest payment dates are January 31 and July 31. Use the straight-line method and ignore year-end accruals.
1. prepare the journal entry to record miltone companys issuance of 50000 shares of 1 par value common stock assuming
southlake corporation issued 900000 of 8 bonds on march 1 20x1. the bonds pay interest on march 1 and september 1 and
Renegade Co. is a wholesaler of motorcycle supplies. Anaging of the company's accounts receivable on December 31,2008, and a historical analysis of the percentage of uncollectibleaccounts in each age category are as follows:
hurst mats manufactures custom replacement floor mats for automobiles. the floor mats are made of spun nylon on highly
Describe 1 ethical issue that could result from the preparation of these manufacturing entries.
her department has had a history of not keeping enough inventory on hand to meet demand. she has come to you very angry
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