Entries by mary WAMBUGU

Net income: $200,000 Depreciation Expense: 100,000 Purchases of plant assets: 100,000 Proceeds

August 31, 2019 in /by

Net income: $200,000Depreciation Expense: 100,000Purchases of plant assets: 100,000Proceeds on disposals of plant assets: 50,000 Gain on Disposal of plant assets: 8,000 Accounts receivable decreased: 3,000 Accounts payable increased: 4,000 Interest expense: 5,000 Income tax expense: 2,500 Grand issued stock in exchange for an outstanding note payable of $80,000. The cash balance on January 1, […]

 

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Richardson Company sold 500 units for total sales of $20,000 During FY 2016. Manufacturing costs consisted of direct labor $2,500, direct materials $4,400, variable factory over head $1,100,

August 31, 2019 in /by

Richardson Company sold 500 units for total sales of $20,000 During FY 2016. Manufacturing costs consisted of direct labor $2,500, direct materials $4,400, variable factory over head $1,100, and fixed factory overhead $3,500. Richardson Company does not maintain any inventories. Total cost of goods sold was $4,400. Selling expenses were $900 variable and $1,000 fixed. […]

 

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Taylor Manufacturing purchased a new machine for $100,000. The machine will last ten years and is to be depreciated by the straight-line method.

August 31, 2019 in /by

Taylor Manufacturing purchased a new machine for $100,000. The machine will last ten years and is to be depreciated by the straight-line method. The estimated salvage value of the machine is zero. The machine should generate a yearly cash inflow of $25,000. What is the accounting rate of return on this investment ignoring income taxes? […]

 

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