Entries by Munene david

1.) For the FY 2018, Dorchester Company’s balance sheet included the following current items: cash $43,000,

May 6, 2020 in /by

1.) For the FY 2018, Dorchester Company’s balance sheet included the following current items: cash $43,000, accounts receivable $136,000, inventories $82,000, prepaid expenses $25,000, accounts payable $99,000, and accrued expenses $72,000.  Use this information to determine the Current Ratio. (Round & enter your answers to one decimal place.) 2.) For the FY 2018, Frederick Company had […]

 

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1.) Bowie Sporting Goods manufactures sleeping bags

May 6, 2020 in /by

1.) Bowie Sporting Goods manufactures sleeping bags. The manufacturing standards per sleeping bag, based on 5,000 sleeping bags per month, are as follows: Direct material of 6.00 yards at $5.25 per yard Direct labor of 3.00 hours at $19.00 per hour Overhead applied per sleeping bag at $18.00 In the month of April, the company actually […]

 

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1.) The following financial information is for Annapolis Corporation

May 6, 2020 in /by

1.) The following financial information is for Annapolis Corporation are for the fiscal years ending 2019 & 2018 (all balances are normal): Item/Account 2019 2018 Accounts Receivable $40,000 $34,000 Inventory 42,000 38,000 Net Sales (all credit) 360,000 350,000 Cost of Goods Sold 154,000 152,000 Net Income 27,200 24,800 Use this information to determine the accounts receivable average collection period for FY […]

 

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11.) The following is the Easton Company adjusted Trial Balance. 

May 6, 2020 in /by

11.) The following is the Easton Company adjusted Trial Balance. Easton Company Adjusted Trial Balance December 31, 2018 Account Title Debit Credit Cash $88,665    Accounts Receivable 232,400    Supplies 17,000    Equipment 395,000    Accumulated Depreciation   $224,260  Accounts Payable   72,555  Capital Stock   220,000  Retained Earnings   127,145  Service Revenue   881,105  […]

 

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