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? […]
BB Corporation has 200,000 shares of $5 par common stock issued and outstanding. BB Corporation also has 50,000 shares of $100, 5% par cumulative preferred stock. In 2017, BB had net income of $3,000,000. The number of shares of both common and preferred stock has not changed during the year, and the preferred stock dividends […]
Using the selected data below, calculate the net cash provided by operating activities: Net income$250,000 Increase in accounts receivable$13,000 Increase in accounts payable $10,000 Loss on the sale of equipment$8,000 Depreciation expense$21,000 Purchase of new delivery truck$40,000 Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code “Newclient”
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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