Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Hoen Manufacturing Company experienced the following accounting events during its first year of operation. With the exception of the adjusting entries for depreciation, all transactions are cash transactions. 1. Acquired $50,000 cash by issuing common stock. 2.Paid $8,000 for the materials used to make products, all of which were started and completed during the year. 3.Paid salaries of $ 4,400 to selling and administrative employees. 4.Paid wages of $7,000 to production workers. 5.Paid $ 9,600 for furniture used in selling and administrative offices. The furniture was acquired on January 1. It had a $1,600 estimated salvage value and a four- year useful life. 6.Paid $13,000 for manufacturing equipment. The equipment was acquired on January 1. It had a $1,000 estimated salvage value and a three- year useful life. 7.Sold inventory to customers for $25,000 that had cost $14,000 to make Required Explain how these events would affect the balance sheet, income statement, and statement of cash flows by recording them in a horizontal financial statements model as indicated here. The first event is recorded as an example. In the Cash Flow column, indicate whether the amounts represent financing activities (FA), investing activities (IA), or operating activities (OA).
equipment acquired on february 5 20xx at a cost of 212750 has an estimated useful life of 8 years and an estimated
Conrad Corporation sold a piece of equipment at a loss of $3,600. The equipment was purchased several years ago at a cost of $70,500 and had been depreciated a total of $52,900. Using the indirect method, what amount is reported under the operatin..
the following information pertains to family video company.1. cash balance per bank july 31 10320.72.2. july bank
prycal co. merges with interbuy inc. and acquires several different categories of intangible assets including
corporation uses the weighted-average method in its process costing. the following data concern the companys assembly
Each coffeetable produced by Robert West Designers nets the firm a profit of$15. How many bookcases should be produced each week?
A table is made from one tabletop, four legs, and four hangers. Each of the legs is made from 4 feet of hickory wood and 1/4 gallon of varnish. Each of the hangers is made from a brace and 4 bolts and 4 nuts. Draw the BOM for the table.
Discuss the ethical implications of the IRS using social media networks to help identify tax returns for audit. Take a position on the whether or not the ethical implications identified above outweigh the benefits of seeking out targeted people to..
Assume Mid-South Urologists Group leased the lithotripter directly from the manufacturer, Rand Medical, which produced the machine at a cost of $1.7 million. Prepare appropriate entries for Rand Medical from the inception of the lease through the ..
S Company earned $840,000 evenly throughout the year and declared a dividend of $300,000 on November 1. What is the amount needed to establish reciprocity under the cost method in the preparation of a consolidated workpaper on December 31, 2011?
Provide detailed descriptions and show all calculations
the towson manufacturing corporation applies overhead on the basis of machine hours. the following divisional
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd