What correcting entry would be necessary
Bertrand Inc. purchased some shop equipment for $4,500 in cash. By mistake, the journal entry debited the Office Equipment account rather than the Shop Equipment account. What correcting entry would be necessary?
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The company's policy is to begin each quarter with an inventory of direct materials equal to 30 percent of that quarter's direct material requirements. Compute budgeted direct materials purchases for the third quarter.
Liabilities Current Account Payable 310,000 Salaries Payable 5000 Note Payable 12,000 Mortgage Payable 10,000 Current Total Liabilities 337,000 Long term Liabilities Notes Payable 40,000 Mortgage Payable 30,000 Total Long Term 70,000 Owner's Equit
Calculate the equivalent units for conversion costs for the month in the first processing department.
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Which of the two reports is preferred? Should Kellerman be praised for outstanding performance or is the general manager's warning appropriate? Explain, citing any apparent problems for the firm.
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