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Crane Company had the following two transactions related to its delivery truck.
1.Paid $44 for an oil change.
2.Paid $519 to install special shelving units, which increase the operating efficiency of the truck.
Prepare Crane Company's journal entries to record these two transactions.
Dean and Robin owned a family business, each holding the shares as community property. When they were divorced in 2011, the court did not force them to split the shares, citing damage to the business that could occur if the public learned that owners..
calculate the amount of each transaction: Purchases of inventories on account, Collections of accounts receivable and Payments to suppliers and others.
Capacity is extremely important for an organization to function effectively and efficiently. How do we ensure that we have the correct capacity?
A 11 year bond pays interest of $27.30 semi annually, has a face value of $1,000 and is selling for $725.64. What are its annual coupon rate and yield to maturity? The annual coupon rate is xxxx %.
An order at a special price that is accepted will increase income if the revenue received exceeds the: Sutton Company produced 98,000 units in 46,000 direct labor hours. Production for the period was estimated at 100,000 units and 50,000 direct labor..
Describe the reasons why corporations invest in securities. Discuss how the market would be affected if they stopped this practice?
For a one sample confidence interval, the interval is calculated around the estimated population mean or standard (μm ). For a one sample confidence interval, the interval is calculated around the calculated sample mean (m). Confidence intervals prov..
The adjusted trial balance of Parsons Company at December 31, 2015, includes the following accounts: Common stock $15,600, Dividends $7,000, Service Revenue $37,000, Salaries and Wages Expense $16,000, Insurance Expense $2,000, Rent Expense $4,000, S..
The company just paid a $10 dividend, but management expects to reduce the payout by 9 percent each year, indefinitely. How much are you willing to pay today
A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $352,491 and direct labor hours would be 48,925. Actual manufacturing overhead costs incurre..
Escuchar Products, a producer of DVD players, has established a labor standard for its product-direct labor. Compute the labor rate and efficiency variances. Prepare journal entries for all activities relating to labor.
During 2015, Michael Company applied overhead using a job-order costing system at a rate of $15 per direct labor hours. Estimated direct labor hours for the year were 150,000, and estimated overhead for the year was $2,250,000. Actual direct labor ho..
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