Entries by mary WAMBUGU

Floppy Company’s December 31, 2014 trial balance is as follows: Floppy Corporation Trial Balance December 31, 2014 Account Debit Credit Cash $43,500 Accounts Receivable 53,500

Question 1. Floppy Company’s December 31, 2014 trial balance is as follows: Floppy Corporation Trial Balance December 31, 2014 Account Debit Credit Cash $43,500   Accounts Receivable 53,500   Allowance for Doubtful Accounts 1,500   Notes Receivable 30,000   Merchandise Inventory 55,000   Land 20,000   Building 150,000   Accumulated Depreciation, Building   $15,000 Equipment […]

 

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Apollo Sports manufacturers fabric tents. The poles are purchased from a vendor, so the only part manufactured is the actual fabric tent. The company uses a standard cost system based on manufacturing 5,000 tents per month. Overhead is applied on a per-unit basis. In May,

 Apollo Sports manufacturers fabric tents. The poles are purchased from a vendor, so the only part manufactured is the actual fabric tent.   The company uses a standard cost system based on manufacturing 5,000 tents per month. Overhead is applied on a per-unit basis. In May,   4,840 tents were produced. Management has a policy that all […]

 

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One advantage to using a perpetual inventory system is that the company never has to physically count the inventory. Question 1 options: True False

ACCT 220 Quiz 2 Feb 2016 Question 1 (4 points) Question 1 Unsaved One advantage to using a perpetual inventory system is that the company never has to physically count the inventory. Question 1 options:           True           False Question 2 (4 points) Question 2 Unsaved The weighted-average inventory method will likely result in neither […]

 

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Mike works for Baltimore Corp. Fact’s related to Mike’s paycheck are listed below. He is paid $5,000 once per month on the last day of the month. He has already been paid for January. You are computing February payroll.

Payroll problem.  The facts and instructions are listed below: 1 Mike works for Baltimore Corp.  Fact’s related to Mike’s paycheck are listed below. He is paid $5,000 once per month on the last day of the month.  He has already been paid for January.  You are computing February payroll. 2 Mike’s pay is subject to […]

 

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