Reference no: EM131810484
Assignemnt
1. Classify the following items as (a) an addition to the bank balance, (b) a subtraction from the bank balance, (c) an addition to the book balance, or (d) a subtraction from the book balance:
Deposits in transit
Non-sufficient funds check
Outstanding checks
Bank Service Charge
Bank Error: the bank debited our account for a deposit made by another customer
2. During 2013, Jimmy Enterprises completed the following transactions:
a. Sales revenue on account, $620,000.
b. Collections on account, $365,000
c. Write-offs of uncollectibles, $15,000
d. Uncollectible account expense, 4% of sales revenue
Required:
1. Start with an accounts receivable balance of $435,000 and post the above entries to the Accounts Receivable T-Account.
|
Thomas martin installed production machinery
: Five years ago, Thomas Martin installed production machinery that had a first cost of $25,000. At that time initial yearly costs were estimated
|
|
What is net income
: Given the following part of an incomplete 10 column worksheet, what is net income?
|
|
Replace the existing machinery with the new unit
: If Thomas Martin uses an 8% before-tax MARR, when, if at all, should he replace the existing machinery with the new unit?
|
|
Annual costs for operating-automated packing equipment
: The annual costs for operating, maintenance, and insurance, as well as market value data for each year of the equipment's 10-year useful life are as follows.
|
|
Post the given entries to the accounts receivable t-account
: Start with an accounts receivable balance of $435,000 and post the above entries to the Accounts Receivable T-Account.
|
|
Prepare a purchases budget in pounds for july
: Prepare a purchases budget in pounds for July, August, and September, and give total purchases in both pounds and dollars for each month
|
|
Calculate the economic life of a truck costing
: Demonstrate how one would calculate the economic life of a truck costing $30,000 initially, and at the end of this and each following year (y) costing OMRy in o
|
|
Calculate the fixed manufacturing overhead costs for august
: Variable manufacturing overhead 250. Calculate the following costs: Fixed manufacturing overhead costs for August and Direct materials inventory
|
|
Create a statement of cash flows for odgers inc
: Condensed financial data of Odgers Inc. follow. Create a statement of cash flows for Odgers Inc. using the direct method.
|