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The chief cost accountant for Dr. Cinnamon Beverage CO, estimated that total factory overhead cost for the Blending Department for the coming fiscal year beginning April 1 would be $106,800, and total direct labor costs would be 489,000. During April, the actual direct labor cost totaled $7,500, and factory overhead cost incurred totaled $9,150.B, Journalize the entry to apply factor overhead to production for April?
On October 1, 2011, $2,500,000 of these bonds were converted into 35,000 shares of $15 par common stock. Accrued interest was paid in cash at the time of conversion.
Judd Harrison owns 200 shares of stock in the Widget Company for which he paid 1600 in 1999. The board of directors of the company decided to pay a 10% stock dividend in April 2010, for which Judd received 20 shares of stock. Was this a taxable st..
Prepare a Schedule of Expected Cash Collections for November and December. Prepare a Merchandise Purchases Budget for November and December.
Indus Company has a Supplies account balance of $900 on January 1, 2009. During 2009, it purchased $4,000 of supplies. As of December 31, 2009, a supplies inventory shows $750 of supplies available. Prepare the adjusting journal entry to correctly..
Compute the net income for the current year, assuming that there were no entries in the Retained Earnings account except for net income and a dividend declaration of $26,580 which was paid in the current year.
Gridley issued a 20% stock dividend on May 1. On August 1, Gridley purchased 140,000 shares and immediately retired the stock. On November 1, 200,000 shares were sold for $25 per share. What is the weighted-average number of shares outstanding for..
You are to prepare the missing adjusting entry. Please indicate DR (debit ) or CR (credit) to the left of the account title, and place a comma between the account title and the amount of the adjustment.
The cost of capital is affected by a number of factors. Some are beyond the firm's control, but others are influenced by its financing and investment policies. A firm can affect its cost of capital through its capital structure policy, dividend po..
In which building would you recommend that Brubaker Inc. locate, assuming a 12% cost of funds?
Sampson Company's accounting records show the following at the year ending on December 31, 2010. Using the periodic system, the cost of goods sold is:
Assume all investments are short-term and readily marketable. The following transactions occurred.June 2; purchased 300 shares of Beaty Corporation common stock for $45 per share; July 1; purchased 200 Meng Corporation bonds for $220,000; July 30;..
What amount of dividend income does Ted report as a result of the distribution and what is Ted's income tax basis in the land received from Sherburne?
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