Entries by Munene david

1) On March 31, 2017, Alpha Corporation recorded the following factory overhead costs incurred:

May 5, 2020 in /by

1) On March 31, 2017, Alpha Corporation recorded the following factory overhead costs incurred:             Factory Manager Salary                  $7,000             Factory Utilities                                  2,000             Machinery Deprecation                    11,000             Machinery Repairs                            2,500             Factory Insurance (prepaid)             1,000 The overhead application rate is based on direct labor hours.  The preset formula for overhead application estimated that $21,000 would be incurred, and 10,000 direct labor hours would be worked. […]

 

Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"

1) Annapolis Company purchased a $1,000, 4%, 5-year bond at 95

May 5, 2020 in /by

1) Annapolis Company purchased a $1,000, 4%, 5-year bond at 95 and held it to maturity. The straight line method of amortization is used for both premiums & discounts. What is the net cash received over the life of the bond investment?  (all money received minus all money paid, round to nearest whole dollar) 2) On […]

 

Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"

During 2020, its first year of operations, Aida’s Bakery had revenues

May 5, 2020 in /by

During 2020, its first year of operations, Aida’s Bakery had revenues of $65000 and expenses of $35000. The business had owner’s drawings or dividends of $22000. What is the amount of owner’s equity at December 31, 2020, if the beginning balance was $-0-? A) $8,000 credit B) $220,000 credit C) $0 D) $30,000   Looking […]

 

Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"

Cornhusker Supplies Inc. purchased a 12-month insurance policy

May 5, 2020 in /by

Cornhusker Supplies Inc. purchased a 12-month insurance policy on March 1, 2020 for $2640. At March 31, 2020, the adjusting journal entry to record expiration of this asset will include a A) debit to prepaid insurance and a credit to insurance expense for $293 B) debit to Insurance expense and a credit to prepaid insurance […]

 

Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"