Find out the liabiltiy for refurndable deposits to be report

Assignment Help Financial Accounting
Reference no: EM13130828

Diversified Semiconductors sells perishable electronic components. Some must be shipped and stored in reusable protective containers. Customer pay a deposit for each container received. The deposits forfeited were $35,000.


Prepare the appropriate journal entries for the depositis received and returned during 2011.

Determine the liabiltiy for refurndable deposits to be reported on the December 31, 2011, balance sheet.

Reference no: EM13130828

Preferred stockholders and common stockholders

The Frank Company has issued 10%, fully participating, cumulative preferred stock with a total par value of $300,000 and common stock with a total par value of $900,000. Divid

Original journal entry to record issue of note receivable

On Jan 1, 2014 Xena provided services in exchange for a 2 year $100,000, 8% note receivable that pays interest quarterly. The customer's normal borrowing rate is 12%. Prepare

How the use of budgets in planning and controlling

BUACC5933 Cost and Management Accounting. Discuss the difficulties associated with allocating overhead costs in the contemporary manufacturing environment and identify strate

What is the cash interest payment for the bonds

On July 1, 2014 a corporation issued $500,000 of 10%, 10-year bonds for $461,000 to yield 12%. Interest is paid semiannually on June 30 and December 31, and the company uses t

Merchandising-preparation of purchases budgets

Merchandising: Preparation of purchases budgets (for three periods) Walker Company prepares monthly budgets. The current budget plans for a September ending inventory of 30,00

Fair price for pinkerton

Please, provide answer with detailed calculation, i.e. excel file if needed and bullet point answers. Please provide explanation and not just 'yes'/'no' answer. All answers

Jacob''s savings account balance

Jacob earned $80 babysitting and deposited the money into his savings account. The next week he spent $85 on video games. Use integers to describe the weekl changes in Jacob's

Average common? stockholders equity

For the current? year, Company A had sales of $350,000?, net income of $250,000 and average common? Stockholders' Equity of $900,000. During the same? year, Company B had sale


Write a Review

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