Entries by mary WAMBUGU

The welding department had beginning work in process of 20,000 units, ending work in process of 26,000 units,

September 6, 2019 in /by

The welding department had beginning work in process of 20,000 units, ending work in process of 26,000 units, and units transferred out of 60,000 units. What was the number of units started or transferred in?   Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code “Newclient”

 

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A manufacturing company allocates overhead at a fixed rate of $30 per hour based on direct labor hours.

September 6, 2019 in /by

A manufacturing company allocates overhead at a fixed rate of $30 per hour based on direct labor hours. During the month, total overhead incurred was $150,000, and the total direct labor hours worked was 4,000. Job number 5-25 had 600 hours of direct labor. What is the amount of overhead allocated to job 5-25?   […]

 

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On January 1, 2017, Montgomery Inc. issued $200,000, 20-year, 5% bonds at 102. Interest is payable semiannually on January 1 and July 1.

September 6, 2019 in /by

On January 1, 2017, Montgomery Inc. issued $200,000, 20-year, 5% bonds at 102. Interest is payable semiannually on January 1 and July 1. The journal entry to record this transaction on January 1, 2017, is: Question 5 options: debit cash, $250,000; debit premium on bonds payable, $5,000; credit bonds payable, $255,000. debit cash, $252,500; credit […]

 

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On January 5, Jones Ventures Inc. purchased 40% of the outstanding stock of Pilots Manufacturing Corp. The purchase was 20,000 shares at $10 per share.

September 6, 2019 in /by

On January 5, Jones Ventures Inc. purchased 40% of the outstanding stock of Pilots Manufacturing Corp. The purchase was 20,000 shares at $10 per share. Jones received dividends from Pilots in the amount of $15,000 on June 15 and again on December 15. Pilots reported net income for the year ended December 31 in the […]

 

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