Alpha Company, on March 1, 2017 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. On March 1, Alpha started into production 10,000 units. At the end of the month there were 5,000 units completed and […]
A bank reconciliation revealed cash per the bank statement of $1,484, cash per company records of $1,681, bank charges of $11, deposits in transit of $317, outstanding checks of $221, and NSF checks of $90. The correct cash balance is Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code […]
lpha Company uses aging to estimate uncollectibles. At the end of the fiscal year, December 31, 2016, Accounts Receivable has a balance that consists of: Dollar Value Age of Account Estimated Collectible $115,000 < 30 days old 98% 65,000 30 to 60 days old 85% 20,000 61 to 120 days old 75% 5,000 > 120 days old […]
Alpha Company sold goods to customers who used Under-the-Hill bank credit cards. Credit card sales on July 8, 2016 amounted to $12,000 and were subject to a 2.5% bank fee. Use this information to prepare the General Journal entry (without explanation) for July 8, 2016. If no entry is required then write “No Entry Required.” Need […]
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