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BSU Inc. wants to purchase a new machine for $35,500, excluding $1,400 of installation costs. The old machine was bought five years ago and had an expected economic life of 10 years without salvage
Having high sccounts recievable balances can definately be a risk for companies, especially in todays economy. Even customers who have always paid their bills in a timely manner may run into trouble
Wendell's Donut Shoppe is investigating the purchase of a new $15,752 donut-making machine. The new machine would permit the company to reduce the amount of part-time help needed.
Reed Company's sales last year totaled $167,000 and its return on investment (ROI) was 16.80%. If the company's turnover was 2.40, then its net operating income for the year must have been ?
On the basis of the following data, the general manager of Glide Shoes Inc. decided to discontinue Children's Shoes because it reduced income from operations by $25,000.
From past experience, the company has learned that 20% of a month's sales are collected in the month of sale, another 70% are collected in the month following sale, and the remaining 10% are collect
Struggling in my accounting class & professor will not respond to my e-mails or several of my classmates =/. Taking business courses for the first time & still having trouble with this quest
In January Brodie Co. purchased a new machine costing $324,000 with a five year life and a salvage value of $30,000. Complete the following table for each of the depreciation types (Straight line a
Department A had 4,251 units in work in process that were 74% completed as to labor and overhead at the beginning of the period.
Cutters sells razors at $75 each. The razors have a 90 day warranty that requires the company to replace any nonworking razor. The Companys cost per razor is $20.
In the manufacture of 9,799 units of a product, direct materials cost incurred was $148,076, direct labor cost incurred was $89,102, and applied factory overhead was $56,966. What is the total conve
Bradster Co. acquired 20% of the outstanding common stock of Curly Co. on January 1, 2011, by paying $800,000 for the 40,000 shares. Curly declared and paid $.80 per share cash dividends on June 15,
Half of the bags had been damaged in shipment and delivery was refused. If Pet Foods Plus pays the remaining amount of the invoice within the discount period, the amount paid should be?
What is the proper adjusting entry at June 30, the end of the fiscal year, based on a prepaid insurance account balance before adjustment, $15,500, and unexpired amounts per analysis of policies of
Manufacturing overhead was estimated to be $489,600 for the year along with 20,400 direct labor hours. Actual manufacturing overhead was $470,220, actual labor hours were 21,800. The amount of manu
Depreciation by Two Methods; Sale of Fixed Asset:New lithographic equipment, acquired at a cost of $787,500 at the beginning of a fiscal year, has an estimated useful life of five years and an estim
In our 1a and 1b financial accounting courses, we learned how retailers, such as Wal-Mart, account for the cost of equipment that lasts more than one year. Recall that the equipment was recorded as
Gainer Corporation makes a mechanical stuffed alligator that sings the Mexican national anthem. The following information is available for Gainer Corporation's anticipated annual volume of 500,000 u
Georgia Products Inc. completed and transferred 187,000 particle board units of production from the Pressing Department. There was no beginning inventory in process in the department.
Kirkland Plumbing Company is a newly formed company specializing in plumbing services for home and business. The owner, Lenny Kirkland, had divided the company into two segments:
Patino Company issued $495,000, 9%, 20-year bonds on January 1, 2011, at 106. Interest is payable semiannually on July 1 and January 1. Patino uses straight-line amortization for bond premium or dis
Deng Company issued $566,000 of 5-year, 8% bonds at 97 on January 1, 2011. The bonds pay interest twice a year.Prepare the journal entry to record the issuance of the bonds.
Fixed overhead costs per month are: Supervision $4,498, Depreciation $1,423, and Property Taxes $692. The company believes it will normally operate in a range of 7,800-13,800 direct labor hours per
A company uses the FIFO method for inventory costing. During a period, a production department had 32,000 units in beginning goods in process inventory which were 46% complete.
Suppan Company manufactures a variety of tools and industrial equipment. The company operates through three divisions. Each division is an investment center.