Question - Tribune Manufacturing purchased a machine for $60 000 on 1 January 2015 which is expected to have a 5 year useful life, no residual value, and to produce a total of 20 000 gadgets before it is scrapped. Assumi ...
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Question - X Company makes two products, A and B, and uses an activity-based costing overhead allocation system, with three cost pools and three cost drivers. Budgeted costs and driver information for 2017 were as follow ...
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Question - Poe, Inc. had the following bank reconciliation at March 31, year 2: Balance per bank statement, 3/31/Y2 $46,500 Add deposit in transit 10,300 56,800 Less outstanding checks 12,600 Balance per books, 3/31/Y2 $ ...
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Question - On January 1, 2016, Sinclair Corp. bought equipment using a $10,000,000 zero-interest-bearing bond due on January 1, 2021. The prevailing rate of interest for a note like this on January 1, 2016 was 7%. What a ...
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Question - In March, Stinson Company completes Jobs 10 and 11. Job 10 cost $27,700 and Job 11 $40,500. On March 31, Job 10 is sold to the customer for $40,500 in cash. Journalize the entries for the completion of the two ...
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Question - On March 1, 2017, Boyd Company acquired real estate, on which it planned to construct a small office building, by paying $80,000 in cash. An old warehouse on the property was demolished at a cost of $8,200; th ...
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Question - Assume the following is the stockholders' equity section of the 2016 Merck & Co., Inc., balance sheet. Stockholders' Equity ($ millions 2016 Common stock, one cent par value; Authorized-5,400,000,000 shares; I ...
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Question - In January, Ms. NW projects that her employer will withhold $25,000 from her 2019 salary. However, she has income from several other sources and must make quarterly estimated tax payments. 1. Compute the quart ...
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Question - Feb.1 Purchased 1,200 shares of BJ common stock (2% of outstanding shares) for $8,400.July1Received cash dividends of $2 per share on BJ common stock.Sept.1Sold 500 shares of BJ common stock for $5,400.Dec.1Re ...
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Question - On January 1, 2017, Palka, Inc., acquired 70 percent of the outstanding shares of Sellinger Company for $1,479,800 in cash. The price paid was proportionate to Sellinger's total fair value, although at the acq ...
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