User Account

All Pages

Prepare to a general journal and general ledger

Assignment Help Financial Accounting
Reference no: EM132471031

Question 1: Prepare to a general journal, General Ledger and an unadjusted trial balance for the following:

Point 1: On June 5 Bella Computers issued 10,000 shares of stock at $10.00 par to Dale and Lee's parents who wanted to invest in the new company. Dale's parents received 10,000 shares and Lee's parents received 10,000 shares.

Point 2: The electronic components to be used in the construction in the computers were contracted to be supplied by a company named Silicon Solutions. The contract specifies that for purchases of components to build up to 10,000 computers will cost $140.00 per computer. If production per year is 10,000 to 20,000 computers, the parts will cost $130.00 per computer. If production exceeds 20,000 computers per year the parts will cost $120.00 per computer. This price includes all internal components and the LCD screen. No parts have been ordered yet.

Point 3: A separate contract is signed on June 8 with Custom Casings and Fabrication, Inc. The contract specifies a single price regardless of production levels. Each custom computer case and all related hardware will cost $40.00 per computer. No hardware has been ordered yet. Based on careful estimates, Dale and Lee believe that it will take 4 man hours to assemble each computer. The prevailing wage for skilled labor is $25.00 per hour. Bella Computers will offer a 1 year warranty on parts and service for their computers. Dale and Lee believe that the total warranty expense will be 2% of sales.

Reference no: EM132471031

Questions Cloud

Facilitate a therapeutic environment for child : A parent of a 7-year-old child with autism spectrum disorder asks about supportive measure they can incorporate to facilitate a therapeutic environment
Evidence of moderate dehydration : What are three (3) manifestations associated with moderate dehydration in this age range?
Determine the gross pay for the week : Calculate Payroll. Determine the gross pay for the week.Determine the net pay for the week. An employee earns $20 per hour and 1.5 times that rate for all hours
Explain significance of statute to defense of marriage act : Compare and contrast both cases in regards to the Anti-Miscegenation Statutes. Explain the significance of this statute to the Defense of Marriage Act (DOM).
Prepare to a general journal and general ledger : On June 5 Bella Computers issued 10,000 shares of stock at $10.00 par to Dale. Prepare to a general journal, General Ledger and an unadjusted trial balance
When public official should be allowed to conduct activities : As a public official over any organization or agency, describe when a public official should be allowed to conduct their activities in secret.
Summarize the mission and budget of the department : Summarize the mission and budget of the department you selected. Does the proposed budget of the department you chose include policy actions to reduce.
What will be the employers total fica tax : Davis and Thompson Assuming that the payroll will be paid on December 29, what will be the employer's total FICA tax for this payroll period?
State the issue that you will address in the letter : Nurses' expertise and empathy are valued in the health care setting. As nurses, we should ensure that we each contribute to advancing the nursing profession.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd