Entries by mary WAMBUGU

March 2 2019 Aco has a beginning WIP inventory of zero. All materials are added into production at the beginning of its production.

August 22, 2019 in /by

Given:March 2 2019 Aco has a beginning WIP inventory of zero. All materials are added into production at the beginning of its production. There is only on production WIP inventory. During the month 28,000 units were started. A the end of the month all started unites were 55% complete with respect to conversion. Direct materials […]

 

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March 1 2019 Aco has beginning WIP inventory of zero. All materials are added into production at the beginning of its production.

August 22, 2019 in /by

Given:March 1 2019 Aco has beginning WIP 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 34,000 unites were started. At the end on the month all started units were 55% complete with respect to conversion. Direct Materials placed […]

 

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January 1 Aco had cash on hand of $80,000. All of January’s $222,000 sales were on account. December sales of $220,000 were also all on account.

August 22, 2019 in /by

Given:January 1 Aco had cash on hand of $80,000. All of January’s $222,000 sales were on account. December sales of $220,000 were also all on account. Aco typically collects 25% of receivables in the month of the sale and the balance the following month. All materials and supplies are purchased on account and Aco has […]

 

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January 2 2018 Aco purchased 11,000 shares of stock of Bco at $14 per share. Aco obtained significant influence as the purchase represents 35% ownership stake in Bco, On August 1 2018 Bco paid cash dividends of $24,000.

August 22, 2019 in /by

Given:January 2 2018 Aco purchased 11,000 shares of stock of Bco at $14 per share. Aco obtained significant influence as the purchase represents 35% ownership stake in Bco, On August 1 2018 Bco paid cash dividends of $24,000. Aco intended this investment to a long-term investment. On December 31 2018 Bco reported $54,000 of net […]

 

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