10. A company produces Wingbat components. The following information per unit is available Total direct costs...
0 A company produces Wingbat components. The following information per unit is available Total direct costs Sellin Machine hours Assembly and in £100 £350 0.5 labour-hours The following absorption rates are used in the company: Production: £150 per machine/hour, Assembly and inspection: £20 per labour-hour What will be the value of each finished Wingbat in inventory? (a) £225 (b) £270 (c) £350 (d) £215 (e) £250 1 A company reported sales of £12,800 for 2015. The value of accounts receivable...
Daube Company's operations for the month of July are summarized as follows: A. Provided $7,600 of services on account. B. Received $3,700 cash from customers for services provided in July. C. Received $1,900 cash for services to be provided in August. D. Received $3,200 cash from customers on account for services provided in June. E. Paid June's warehouse rental bill on account in the amount of $1,400. F. Received July's warehouse rental bill of $1,500; set it aside to be...
Required information (The following information applies to the questions displayed below.] Ricky's Piano Rebuilding Company has been operating for one year. On January 1, at the start of its second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: Cash Accounts Receivable Supplies Equipment Land Building $ 7,850 Accounts Payable 15,000 Deferred Revenue (deposits) 2,100 Notes Payable (long-term) 9,500 Common Stock 8,400 Retained Earnings 28,400 $10,300 4,400 41,500 10,000 5,050 Following are...
Required information [The following information applies to the questions displayed below.) Ricky's Piano Rebuilding Company has been operating for one year. On January 1, at the start of its second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: Cash Accounts Receivable Supplies Equipment Land Building $ 6,000 Accounts Payable 25,000 Deferred Revenue (deposits) 1,200 Notes Payable (long-term) 8,000 Common Stock 6,000 Retained Earnings 22.000 $ 8,000 3,200 40,000 8,000 9,000 ces...
Required information (The following information applies to the questions displayed below.) Stacey's Piano Rebuilding Company has been operating for one year. At the start of the second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: $ $ Cash Accounts receivable Supplies Equipment Land Building 6,700 30,100 1,540 9,600 8,100 26,600 Accounts payable Unearned revenue Long-term note payable Common stock Additional paid-in capital Retained earnings 9,100 3,240 47, 300 1,560 6,240 15,200...
Mostert Music Company had the following transactions in March: a. Sold music lessons to customers for $12,350; received $7,750 in cash and the rest on account. b. Paid $720 in wages for the month. C. Received a $260 bill for utilities that will be paid in April. d. Received $2,700 from customers as deposits on music lessons to be given in April. Based on the information above, prepare a cash basis and an accrual basis income statement. Complete this question...
Mostert Music Company had the following transactions in March: a. Sold music lessons to customers for $12,350; received $7,750 in cash and the rest on account. b. Paid $720 in wages for the month. C. Received a $260 bill for utilities that will be paid in April. d. Received $2,700 from customers as deposits on music lessons to be given in April. Based on the information above, prepare a cash basis and an accrual basis income statement. Complete this question...
Required Information [The following information applies to the questions displayed below.) Ricky's Plano Rebuilding Company has been operating for one year. On January 1, at the start of its second year, Its Income statement accounts had zero balances and its balance sheet account balances were as follows: Cash Accounts Receivable Supplies Equipment Land Building $ 6,300 Accounts Payable 31,898 Deferred Revenue (deposits) 2,550 Notes Payable (long-term) 12,380 Common Stock 9,150 Retained Earnings 26, Bee $ 8,850 4.450 49, eee 12,5ee...
5. Required information [The following information applies to the questions displayed below.] Ricky’s Piano Rebuilding Company has been operating for one year. On January 1, at the start of its second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: Cash $ 7,250 Accounts Payable $ 12,350 Accounts Receivable 33,000 Deferred Revenue (deposits) 4,200 Supplies 1,750 Notes Payable (long-term) 40,750 Equipment 10,500 Common Stock 11,000 Land 6,650 Retained Earnings 18,350 Building 27,500...
Required information The following information applies to the questions displayed below.) Vanishing Games Corporation (VGC) operates a massively multiplayer online game charging players a monthly subscription of $12. At the start of January 2018, VGC's income statement accounts had zero balances and its balance sheet account balances were as follows: Caah Accounts Receivable Supplies Equipment Marding Land Accounts Payable Deferred Revenue Notes Payable (due 2025 ) Common Stock Retained Earnings $1,590,000 245.000 17,800 922,000 435,000 1.250,00 137,600 140.000 81,000 2.800,000...