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Bella Construction...
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Following are partial balance sheet data for Delloi Ltd, as at December 31, 20x2 and 20x1, and the partial income statement for the year ended December 31, 20x2: Balance Sheet 20x2 20x1 Accounts receivable Inventory $44738 $20104 $11464 $48005 Income Statement Revenue Net Income Depreciation Expense $501787 $106117 $26411 Which of the following total amounts would appear in the cash flow from operating section of the...
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You enter into a three year service contract. The total contract price is $23023. Costs incurred in the first year are $5247 and the expected costs to complete the contract are $6683. How much profit will be recognized on this contract in the first year? Select one: o a. 57818 ob. $11093 o c. 54879 d. 50
please show all steps so I can fully understand how to solve. thank you On December 31, 20x5, you enter into a three...
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On December 31, 20x5, you enter into a three year contract to build an office building for $24492415. At the end of 20x6, you incurred $6841214 of costs and expect to incur an additional $8892327 to complete the contract. How much revenue will you realize on this contract in 20x6? Select one: a. $10649723 O b. $3808509 0 c. $18842970 d. $8758874
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BSE Inc. completed the following transactions in its first year of operations: February 15 Issued 5000 common shares for $25261 March 1 Issued 565 $4 non-cumulative preferred shares for $49058 April 1 Declared a 2 for 1 stock split on the common shares December 28 Declared cash dividends on the preferred shares BSE's net income for the year was $29056. What is company's shareholders' equity...
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Reese Ltd.'s records shows the following balances for the year 20x2: Direct materials, beginning inventory Direct materials, ending inventory Direct material purchases Advertising expense Indirect labour Selling costs Direct labour Property taxes on factory building $56004 81555 118979 274430 98173 47419 218714 15614 What were Reese's product costs for the year? Select one: a. $425929 b. $451480 $321849 d. 5312142
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Wiley Corp. offers a 3 year warranty. They expect the warranty costs to be 2% of the selling price in the 1st year, 3% in the second and third year. Sales in year 1 = $5882707 and warranty costs incurred =$126269. What is the balance in the warranty liability account? Select one: a. $ 344348 O b. $ 403175 O c.$ 126269 O d. $ 470617...
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The beginning balances of the shareholders equity of Hanssen Incorporated for the year 20x7 are as follows: $10188418 Common shares, 1,000,000 shares issued Retained earnings $1218423 During 20x7, David repurchased 63245 shares at $271550 The net income for the year was $947228. What is the balance in retained earnings at December 31, 20x7? Select one: a $ 1098033 b. $120390 c. $2165651 d. $1067618
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Vanex Co, a publicly accountable company, uses a job order system and has provided the following selected information regarding its manufacturing operations for 20x10: $448570 60406 hours 41063 hours Total estimated overhead Total estimated direct labour hours Total direct labour hours incurred Manufacturing overhead costs incurred: Indirect labour Indirect materials Utilities $115385 216065 144040 Which of the following would be included in the journal entry to...
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Fred Co., a publicly accountable company, applies manufacturing overhead to jobs using a predetermined overhead rate that is based on direct labour costs. Data for the most recent year is as follows: Actual direct labour hours 8687 Direct labour rate $10/hour Actual manufacturing overhead costs $95770 At the end of the year, Fred Co, disposed of over under-applied overhead by crediting COGS for $8874. What was...
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The following costs were incurred to complete 3 jobs during the year Direct materials Direct labour Job Al $2384 $4278 Job G1 $1272 $3351 Job A2 $3032 $2996 In addition, the supervisor's salary (who is responsible for monitoring the whole 3rd and 4th floors of the factory) is $82961. The journal entries for the year will include which of the following: Select one: a. A debit...
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Following are partial balance sheet data for Delloi Ltd, as at December 31, 20x2 and 20x1, and the partial income statement for the year ended December 31, 20x2: Balance Sheet 20x2 20x1 Accounts receivable Inventory $44738 $20104 $11464 $48005 Income Statement Revenue Net Income Depreciation Expense $501787 $106117 $26411 Which of the following total amounts would appear in the cash flow from operating section of the...
please show all steps so I can fully understand how to
solve. thank you
You enter into a three year service contract. The total contract price is $23023. Costs incurred in the first year are $5247 and the expected costs to complete the contract are $6683. How much profit will be recognized on this contract in the first year? Select one: o a. 57818 ob. $11093 o c. 54879 d. 50
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On December 31, 20x5, you enter into a three year contract to build an office building for $24492415. At the end of 20x6, you incurred $6841214 of costs and expect to incur an additional $8892327 to complete the contract. How much revenue will you realize on this contract in 20x6? Select one: a. $10649723 O b. $3808509 0 c. $18842970 d. $8758874
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BSE Inc. completed the following transactions in its first year of operations: February 15 Issued 5000 common shares for $25261 March 1 Issued 565 $4 non-cumulative preferred shares for $49058 April 1 Declared a 2 for 1 stock split on the common shares December 28 Declared cash dividends on the preferred shares BSE's net income for the year was $29056. What is company's shareholders' equity...
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Reese Ltd.'s records shows the following balances for the year 20x2: Direct materials, beginning inventory Direct materials, ending inventory Direct material purchases Advertising expense Indirect labour Selling costs Direct labour Property taxes on factory building $56004 81555 118979 274430 98173 47419 218714 15614 What were Reese's product costs for the year? Select one: a. $425929 b. $451480 $321849 d. 5312142
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Wiley Corp. offers a 3 year warranty. They expect the warranty costs to be 2% of the selling price in the 1st year, 3% in the second and third year. Sales in year 1 = $5882707 and warranty costs incurred =$126269. What is the balance in the warranty liability account? Select one: a. $ 344348 O b. $ 403175 O c.$ 126269 O d. $ 470617...
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The beginning balances of the shareholders equity of Hanssen Incorporated for the year 20x7 are as follows: $10188418 Common shares, 1,000,000 shares issued Retained earnings $1218423 During 20x7, David repurchased 63245 shares at $271550 The net income for the year was $947228. What is the balance in retained earnings at December 31, 20x7? Select one: a $ 1098033 b. $120390 c. $2165651 d. $1067618
Please show all steps so I can fully understand how to
solve. thank you
Vanex Co, a publicly accountable company, uses a job order system and has provided the following selected information regarding its manufacturing operations for 20x10: $448570 60406 hours 41063 hours Total estimated overhead Total estimated direct labour hours Total direct labour hours incurred Manufacturing overhead costs incurred: Indirect labour Indirect materials Utilities $115385 216065 144040 Which of the following would be included in the journal entry to...
Please show all steps so I can fully understand how to
solve. thank you
Fred Co., a publicly accountable company, applies manufacturing overhead to jobs using a predetermined overhead rate that is based on direct labour costs. Data for the most recent year is as follows: Actual direct labour hours 8687 Direct labour rate $10/hour Actual manufacturing overhead costs $95770 At the end of the year, Fred Co, disposed of over under-applied overhead by crediting COGS for $8874. What was...
Please show all steps so I can fully understand how to
solve. thank you
The following costs were incurred to complete 3 jobs during the year Direct materials Direct labour Job Al $2384 $4278 Job G1 $1272 $3351 Job A2 $3032 $2996 In addition, the supervisor's salary (who is responsible for monitoring the whole 3rd and 4th floors of the factory) is $82961. The journal entries for the year will include which of the following: Select one: a. A debit...
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