Entries by mary WAMBUGU

The following incorrect Balance Sheet was prepared for Browning Corporation as of December 31, 2016. Browning Corporation Balance Sheet

September 12, 2019 in /by

The following incorrect Balance Sheet was prepared for Browning Corporation as of December 31, 2016. Browning Corporation Balance Sheet as of December 31, 2016 Cash $80,000 Accounts payable $75,000 Accounts receivable (net) 52,200 Bonds payable 100,000 Inventory 57,000 Common Stock 218,500 Investments 76,300 Equipment (net) 96,000 Copyrights 32,000 Total Assets $393,500 Total Liabilities & Stockholder’s […]

 

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“Hawthorn Corporation manufactures custom all-terrain vehicles (ATVs) and uses a job costing system to assign and track costs. March’s beginning inventory consisted of the following components: “

September 12, 2019 in /by

Hawthorn Corporation manufactures custom all-terrain vehicles (ATVs) and uses a job costing system to assign and track costs.  March’s beginning inventory consisted of the following components: Raw materials  $         65,000 Work in process             27,000 Finished goods             80,000 The above beginning work in process consisted only of Job #02.778.  The finished goods inventory consisted […]

 

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“Zeus Corporation produces cultured diamonds via a secretive process that grows the diamonds in a vacuum chamber filled with a carbon gas cloud.

September 12, 2019 in /by

Zeus Corporation produces cultured diamonds via a secretive process that grows the diamonds in a vacuum chamber filled with a carbon gas cloud.  The diamonds are produced in a single continuous process, and Zeus uses the weighted-average process costing method of accounting for production.  The production process requires constant utilization of facilities and equipment, as […]

 

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Ashley Corporation provided the following list of cost data related to its manufacturing operations for the month of September 20X4.

September 12, 2019 in /by

Ashley Corporation provided the following list of cost data related to its manufacturing operations for the month of September 20X4.  Beginning raw materials inventory  $                966,400   Raw materials purchased (net)                 2,345,500   Ending raw materials inventory                    818,200   Direct labor costs                    322,300   Indirect materials                    125,500   Indirect labor                      […]

 

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