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Uxmaiz Corporation had only one job in process during May-Job X32Z-and had no finished goods inventory on May 1. Job X32Z was started in April and finished during May. Data concerning that job appear below:
In May, overhead was overapplied by $490. The company adjusts its cost of goods sold every month for the amount of the overhead that was underapplied or overapplied.
1. Using the indirect method, determine the cost of goods sold for May?
2. What is the total value of the finished goods inventory at the end of May?
3.
The current credit balance in allowance for uncollectible accounts is $200. Management estimates that 2.5% of net credit sales of $115,000 will be uncollectible. Based on the foregoing data, what is the bad debt expense balance on the income state..
Admire County Bank agrees to lend Givens Brick Company $300,000 on January 1. Givens Brick Company signs a $300,000, 8%, 9-month note. What entry will Givens Brick Company make to pay off the note and interest at maturity assuming that interest ha..
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a piece of equipment with a cost of 11000 a useful life of 5 years and a salvage value of 1000 is depreciated using
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