Entries by mary WAMBUGU

On March 1, 2019, Annapolis Company has a beginning Work in Process inventory of zero. All materials are added into production at the beginning of its production.

August 24, 2019 in /by

1.On March 1, 2019, Annapolis Company has a beginning Work in Process inventory of zero. All materials are added into production at the beginning of its production. There is only one production WIP inventory. During the month 24,000 units were started. At the end of the month all started units were 80% complete with respect to conversion. Direct Materials […]

 

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For the FY 2018, Frederick Company had net sales of $1,150,000 and net income of $65,000, paid income taxes of $25,000, and had before tax interest expense of $12,500.

August 24, 2019 in /by

For the FY 2018, Frederick Company had net sales of $1,150,000 and net income of $65,000, paid income taxes of $25,000, and had before tax interest expense of $12,500. Use this information to determine the Times Interest Earned Ratio. (Round your answers to one decimal place The following financial information is for Annapolis Corporation are for the fiscal years ending […]

 

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Adelphi Company purchased a machine on January 1, 2017, for $70,000. The machine was estimated to have a service life of ten years with an estimated residual value of $5,000.

August 24, 2019 in /by

Question Adelphi Company purchased a machine on January 1, 2017, for $70,000.  The machine was estimated to have a service life of ten years with an estimated residual value of $5,000.  Adelphi sold the machine on January 1, 2021 for $23,000. Adelphi uses the double declining method for depreciation. Using this information, how much is the gain or (loss) […]

 

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On December 31, 2018, Adelphi Corporation has outstanding 500 shares of $100 par value, 4% cumulative and nonparticipating preferred stock, and 5,000 shares of $10 par value common stock.

August 24, 2019 in /by

1.On December 31, 2018, Adelphi Corporation has outstanding 500 shares of $100 par value, 4% cumulative and nonparticipating preferred stock, and 5,000 shares of $10 par value common stock. Preferred dividends were paid in 2016 but were not paid in 2017. During 2018, Alpha distributed $40,000 in dividends. Use this information to determine for 2018 the dollar […]

 

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