Entries by mary WAMBUGU

On January 1, 2018, Bowie Company purchased 20,000 shares of the stock of Spears Co, and did obtain significant influence. The investment is intended as a long-term investment.

August 29, 2019 in /by

On January 1, 2018, Bowie Company purchased 20,000 shares of the stock of Spears Co, and did obtain significant influence. The investment is intended as a long-term investment. The stock was purchased for $200,000, and represents a 30% ownership stake. Spears made $50,000 of net income in 2018, and paid dividends of $20,000. The price […]

 

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Zeppelin Corporation’s comparative balance sheets are presented below. Zeppelin CORPORATION

August 29, 2019 in /by

Zeppelin Corporation’s comparative balance sheets are presented below. Zeppelin CORPORATION Balance Sheets December 31 2018 2017 Cash $ 8,000 $ 9,000 Accounts receivable 35,000 38,000 Inventory 25,500 22,500 Land 15,000 15,000 Building 100,000 90,000 Accumulated depreciation (27,000) (25,000)     Total $156,500 $149,500 Accounts payable $ 50,000 $ 46,000 Common stock 63,000 60,000 Retained earnings 43,500 43,500 […]

 

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Marshall Company had sales of $10,000 (100 units at $100 per). Manufacturing costs consisted of direct labor $1,500, direct materials $1,000, variable factory overhead $1,100,

August 29, 2019 in /by

Marshall Company had sales of $10,000 (100 units at $100 per). Manufacturing costs consisted of direct labor $1,500, direct materials $1,000, variable factory overhead $1,100, and fixed factory overhead $500. Selling expenses totaled $1,500 ($500 variable and $1,000 fixed), and administrative expenses totaled $1,600 ($410 variable and $1,190 fixed). Operating income was $2,800. Round all […]

 

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Halsey Company manufactures 20,000 units of wheel sets for use in its annual production. Costs are as follows: direct materials are $40,000; direct labor is $50,000;

August 29, 2019 in /by

Halsey Company manufactures 20,000 units of wheel sets for use in its annual production. Costs are as follows: direct materials are $40,000; direct labor is $50,000; variable overhead is $35,000; and fixed overhead is $70,000. Bowie Company has offered to sell Halsey 20,000 units of wheel sets for $10 per unit. If Halsey accepts the […]

 

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