Instructions Chart of Accounts-Shore Co.Chart of Accounts-Blue Star Co.Journal-Shore Co.Journal-Blue

Question Instructions Chart of Accounts-Shore Co.Chart of Accounts-Blue Star Co.Journal-Shore Co.Journal-Blue Star Co.InstructionsShore Co. sold merchandise to Blue Star Co. on account, $112,000, terms FOB shipping point, 2/10, n/30. The cost of the goods sold is $67,200. Shore Co. paid freight of $1,800.Journalize the entries for Shore and Blue Star for the sale, purchase, and payment of amount due. Refer to the appropriate company’s Chart of Accounts for exact wording of account titles.

March 1, issued bond $200000 face value, 8% for 218,040

Question March 1, issued bond $200000 face value, 8% for 218,040 including accrued interest. Interest is payable semi-annually on December 1 and June 1 with the bonds matuaring 10 years from the previous December 1. The bonds are callable at 102June 1, paid semi- annual interest on the bonds. Use straight line method amortization for any premium or discountDecember1, Paid semi annual interest on the bonds, and the purchased $ 100000 face value bonds at the call price in accordance with the provisions of the bond indentureI need to solve it..

can someone please help me on numbers 1-3 Attachment 1

Question can someone please help me on numbers 1-3 Attachment 1 Attachment 2 ATTACHMENT PREVIEW Download attachment week 5 1.jpeg C Enter titles and mecounta in the green cells Exter Numbers in the blue call Enter your Calculationg in the yellow calls Dallas Company manufactures table clotha. The company is in the process of developing next quarter’s budgets and has gathered the following Information for the budget preparation: The Marketing Department has estimated sales as follows for the maindar al the year On units: 25,000 Outcher 20 000 August 25 INK September December 37.500 Thi selling price. 25 per unit i. All wales are on soopunt. Based on past experience, sales are collected in the following pattern 25% in the month of sale 7tra In the mouch following sale 5% uncollectible Sales for June totaled $525,000. 505000 d. The company desires to keep a finished gooch inventory equal to 20% of the following month’s sales The June ending inventory will meet the requirement. I. Each table doth requires 6 feet of a special linen, can be hard to source at times. The company requires that the ending inventory of linen be equal to book of the following month’s production randi. brenntory oh henil feet The inen Rose $ 1.00 par lout. ATTACHMENT PREVIEW Download attachment week 5 2.jpeg [ The linen costs $1.00 par foot. Instructions 1: 1. Calculate the budgeted sales, by month and in total, for the quarter. Charter Hadputed unity molen 1 2. Calculate the net expected cash balances, by month and in total, for the quarter. The ripcurl cash collectings frompalmitor the third quarter 3. Calculate the estimated quantity of beach umbrellaa that need to be produced In July, August, September, and October.

Puff and Smoke agreed to share profits and losses in

Question Puff and Smoke agreed to share profits and losses in their partnership on a 7:3 basis, respectively, after a salary allowance of $25,000 is allocated to Puff. Earnings for the period total $115,000. What will be the total amount credited to Puff’s Capital account when the Income Summary account is closed?

Simba Company’s standard materials cost per unit of output is

Question Simba Company’s standard materials cost per unit of output is $10.35 (2.30 pounds x $4.50). During July, the company purchases and uses 3,105 pounds of materials costing $16,767 in making 1,500 units of finished product.Compute the total, price, and quantity materials variances. (Round per unit values to 2 decimal places, e.g. 52.75 and final answers to 0 decimal places, e.g. 52.)Total materials variancematerials price variancematerials quantity variannce

On January 1, the home mortgage balance was $70,000 for

Question On January 1, the home mortgage balance was $70,000 for the home owned by Kevin Gonzalez. The interest rate for the loan is 9 percent. Assuming that Kevin makes the January monthly mortgage payment of $700, calculate the following:(a) The amount of interest included in the January payment (round your answer to the nearest cent).(b) The amount of the monthly mortgage payment that will be used to reduce the principal balance.(c) The new balance after Kevin makes this monthly mortgage payment. (a) Interest amount:$_______ (b) Principal reduction:$________(c) New balance:$________

the mission or focus of accounting organizations

For Project 2, select two (2) of the organizations below and write a 2-3 page paper in which you:

What challenges, strengths, or weaknesses do you see? Please be

Question What challenges, strengths, or weaknesses do you see? Please be articulate alt=”ac.jpg” /> ATTACHMENT PREVIEW Download attachment ac.jpg Starbucks 2017 2018 Current Ratio 1.01 1.41 Quick Ratio 81 1.17 Net profit margin 19.20% 11.98% Return on Assets 28.45% 15.36% Debt to equity ratio 1.79% 3.17% Inventory Turnover 11.32 12.58 Dunkin 2017 2018 Current Ratio 2.69 1.51 Quick Ratio 0 0 Net profit margin 28.45% 15.36% Return on Assets 8.08 6.86 Debt to equity ratio 11.95 -4.22 Inventory Turnover

This question was created from Week 6 Quiz https://www.coursehero.com/file/23029698/Week-6-Quiz/ When

Question This question was created from Week 6 Quiz https://www..com/file/23029698/Week-6-Quiz/ When evaluating whether to proceed with a project, the firm should consider all of the following factors except which one? (i.e., Which is a “not relevant” versus “relevant” cash flow?) Changes in working capital attributable to the project previous expenditures associated with a market test to determine the feasibility of the project. the current market value of any equipment to be sold and replaced. the resulting difference in depreciation if the project involves a replacement decision. ALL of the other response options should be considered. ATTACHMENT PREVIEW Download attachment 23029698-334567.jpeg 5. When evaluating whether to proceed with a project. the firm should consider all of the following factors EXCEPT which one? {i.e., Which is a “not relevant

What are the issues that occur within the auditing (accounting)

Question What are the issues that occur within the auditing (accounting) process, why are they significantly harmful, and how do we fix them? What is standardized auditing and would it prevent these issues from occurring?

Do the auditors guarantee that the financial statements are 100%

Question Do the auditors guarantee that the financial statements are 100% accurate? Why or why not?

Assist for a better understanding of below: please read carefully

Question Assist for a better understanding of below: please read carefully for all the boxes that need attention. src=”/qa/attachment/9318753/” alt=”C9.jpg” /> ATTACHMENT PREVIEW Download attachment C9.jpg To help purchase her new car, Melissa is taking out a $23,000 amortized loan for 6 years at 6.1% annual interest. Her monthly payment for this loan is $382.26. Fill In all the blanks in the amortization schedule for the loan. Assume that each month b 12 of a year. Round your answers to the nearest cent. Payment Interest Principal New loan number payment payment balance X 35 $66.99 $315.27 $12.863.69 Is

/>I have trouble finding the normal spoilage rate. Please kindly

Question />I have trouble finding the normal spoilage rate. Please kindly show me how to find it and walk me through the whole problem (a through c) thanks very much for your help. ATTACHMENT PREVIEW Download attachment IMG_20190809_184310.jpg Problem 2 Jackson Carpentry manufactures tables in its Processing Department. Direct materials are included at the inception of the production cycle and must be bundled in single kits for each unit. Conversion costs are tore incurred evenly throughout the production cycle. Inspection takes place as units are placed into production. After inspection, some units are spoiled due to nondetectible material defects. Spoiled units generally constitute 4% of the good units. Data provided for March 20X5 are as follows: 32, un 70, wo= 102, un units to want for WIP, beginning inventory 3/1/20X5 32,000 units completedd transfered out ( 89 ww units ) ; Direct materials (100% complete) Started during March Conversion costs (85% complete) MP — 32, vro Completed and transferred out 70,000 units WIP, ending inventory 3/31/20X5 30,000 units Unit cadets OZ – O 18,000 units Direct materials (100% complete) 32, wo Costs: Conversion costs (80% complete) WIP, beginning inventory: Direct materials $70,000 Conversion costs $40,000 Direct materials added $105,000 Conversion costs added $128,160 a. What are the normal and abnormal spoilage units, respectively, for March when using FIFO? Normal Abnormal b. What costs would be associated with normal and abnormal spoilage, respectively, using the FIFO method of process costing? Normal Abnormal c. What costs are allocated to the ending work-in-process inventory for direct materials and conversion costs, respectively, using the FIFO method of process costing? Direct materilas Conversion Costs TotalRead more

Constructive Gain or Loss on Bond Retirement with Workpaper—Cost Method(effective

Question Constructive Gain or Loss on Bond Retirement with Workpaper—Cost Method(effective interest method)Prezo Company purchased 80% of Satz Company’s common stock for $880,000 on January 2, 2014. Condensedfinancial information for Prezo Company and Satz Company is given below.Balance SheetDecember 31, 2014Prezo Co. Satz Co.Current Assets $ 920,000 $ 580,000Investment in Satz Company Common Stock 880,000Investment in Satz Company Bonds 246,189Other Assets 2,326,411 1,320,000$4,372,600 $1,900,000Bonds Payable (10%) $ 700,000 $ 400,000Premium on Bonds Payable 20,968Other Liabilities 1,454,600 129,032Common Stock 1,600,000 800,000Retained Earnings 618,000 550,000$4,372,600 $1,900,000Retained Earnings Statementfor the Year Ended December 31, 2014Prezo Co. Satz Co.1/1 Balance $ 480,000 $ 300,000Net Income 388,000 400,000Dividends (250,000) (150,000)12/31 Balance $ 618,000 $ 550,000Income Statementfor the Year Ended December 31, 2014Prezo Co. Satz Co.Sales $2,680,000 $1,860,000Dividend Income 120,000Other Income 266,000 120,000Total Revenue 3,066,000 1,980,000Expenses 2,678,000 1,580,000Net Income $ 388,000 $ 400,000On July 1, 2014, Prezo Company purchased 60% of Satz Company’s bonds for $ 247,071 (a 9% yield). The bondsmature on December 31, 2017. Interest of 10% per annum is paid on June 30 and December 31 each year. Bothcompanies use the effective interest method to amortize bond discounts and premiums. The Satz Co. bond wasoriginally issued to yield 8% and Prezo Company’s bond was issued at par.Required:A. Compute the gain or loss on the constructive retirement of the bonds allocated to each of the affiliatedcompanies.B. Compute consolidated financial statements workpaper on December 31, 2014.C. Prepare in good form a schedule showing the calculation of consolidated net income for the year endedDecember 31, 2014.This is one of the sample questions, that will help with the rest of the assignment questions.

Strong Metals Inc. purchased a new stamping machine at the

Question Strong Metals Inc. purchased a new stamping machine at the beginning of the year at a cost of $840,000. The estimated residual value was $67,800. Assume that the estimated useful life was five years, and the estimated productive life of the machine was 286,000 units. Actual annual production was as follows: YearUnits179,000  267,000  334,000  462,000  544,000   Required:1.Complete separate depreciation schedule for each of the alternative methods. a.Straight-line.        

FedEx is the world’s leading express-distribution company. In addition to

Question FedEx is the world’s leading express-distribution company. In addition to the world’s largest fleet of all cargo aircraft, the company has more than 668 aircraft and 54,000 vehicles and trailers that pick up and deliver packages. Assume that FedEx sold a delivery truck that had been used in the business for three years. The records of the company reflected the following:     Delivery truck cost$53,000   Accumulated depreciation 37,800 Required:1.Prepare the journal entry for the disposal of the truck, assuming that the truck sold for: (If no entry is required for a transaction/event, select “No journal entry required” in the first account field.)   a.$15,200 cash b.$15,700 cash c.$13,700 cash   

Trotman Company had three intangible assets at the end of

Question Trotman Company had three intangible assets at the end of 2013 (end of the accounting year): a.Computer software and Web development technology purchased on January 1, 2012, for $72,000. The technology is expected to have a four-year useful life to the company.b.A patent purchased from Ian Zimmer on January 1, 2013, for a cash cost of $21,000. Zimmer had registered the patent with the U.S. Patent Office five years ago.c.An internally developed trademark registered with the federal government for $25,000 on November 1, 2013. Management decided to capitalize the $25,000 as an intangible asset with an indefinite life. Required:1.Compute the acquisition cost of each intangible asset.         2.Compute the amortization of each intangible at December 31, 2013. The company does not use contra-accounts. (Assume the company uses straight-line method.)         3.Show how these assets and any related expenses should be reported on the balance sheet and income statement for 2013.     

Select Apparel purchased 90 new shirts and recorded a total

Question Select Apparel purchased 90 new shirts and recorded a total cost of $2,766 determined as follows:     Invoice cost$2,280   Shipping charges 194   Import taxes and duties 155   Interest (6.0%) on $2,280 borrowed to finance the purchase 137   $2,766  Prepare the journal entry to record this purchase in the correct amount, assuming a perpetual inventory system. (If no entry is required for a transaction/event, select “No journal entry required” in the first account field.)

Penn Company uses a periodic inventory system. At the end

Question Penn Company uses a periodic inventory system. At the end of the annual accounting period, December 31, 2015, the accounting records provided the following information for product 1: UnitsUnit Cost  Inventory, December 31, 20141,980    $5   For the year 2015:           Purchase, March 215,040     7       Purchase, August 12,900     8   Inventory, December 31, 20154,060       Required:Compute ending inventory and cost of goods sold under FIFO, LIFO, and average cost inventory costing methods. (Round “Average cost per unit” to 2 decimal places and final answers to nearest whole dollar amount.) 

Grants Corporation prepared the following two income statements (simplified for

Question Grants Corporation prepared the following two income statements (simplified for illustrative purposes): First Quarter 2014 Second Quarter 2014  Sales revenue  $12,500      $19,600   Cost of goods sold                  Beginning inventory$ 3,700      $3,100          Purchases 2,800       12,100                    Goods available for sale6,500       15,200          Ending inventory3,100       9,500                    Cost of goods sold   3,400       5,700           Gross profit   9,100       13,900   Expenses   4,700       5,700           Pretax income  $4,400      $8,200         During the third quarter, it was discovered that the ending inventory for the first quarter should have been $3,540.Required:1.What effect did this error have on the combined pretax income of the two quarters?Increase 440Decrease 440NE2.Did this error affect the EPS amounts for each quarter?YesNo3.Prepare corrected income statements for each quarter.      4.Prepare the schedule with the following headings to reflect the comparative effects of the correct and incorrect amounts on the income statement.   

Jones Company is preparing the annual financial statements dated December

Question Jones Company is preparing the annual financial statements dated December 31, 2015. Ending inventory information about the five major items stocked for regular sale follows: ENDING INVENTORY, 2015ItemQuantity on HandUnit Cost When Acquired (FIFO)Replacement Cost(Market) at Year-EndA 51$16  $13 B 8131  41 C 11   49   53 D 71   26   31 E 351   11   6 Required:Compute the valuation that should be used for the 2015 ending inventory using the LCM rule applied on an item-by-item basis.

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