Selected ledger account balances for Business Solutions follow.
I have the answer to Required 1, I just need help with 2 and 3.
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Selected ledger account balances for Business Solutions follow.
Selected ledger account balances for Business Solutions follow. Required: 1. Assume that Business Solutions does not acquire additional office equipment or computer equipment in 2018. Compute amounts for the year ended December 31, 2018, for Depreciation expense-Office equipment and for Depreciation expense-Computer equipment (assume use of the straight-line method). 2. Given the assumptions in part 1, what is the book value of both the office equipment and the computer equipment as of December 31, 2018? 3. Compute the three-month total asset turnover for Business...
Serial Problem Business Solutions LO P1, A1 Selected ledger account balances for Business Solutions follow. pok...
Serial Problem Business Solutions LO P1, A1 Selected ledger account balances for Business Solutions follow. pok Office equipment Accumulated depreciation-office equipment Computer equipment Accumulated depreciation-Computer equipment Total revenue Total assets For Three Months Ended December 31, 2019 $ 7,300 365 22,000 1,375 31,384 84,260 For Three Months Ended March 31, 2020 $ 7,300 730 22,000 2,750 44,100 120,668 Required: 1. Assume that Business Solutions does not acquire additional office equipment or computer equipment in 2020. Compute amounts for the year...
Selected ledger account balances for Business Solutions follow. For Three Months For Three Months Ended December...
Selected ledger account balances for Business Solutions follow. For Three Months For Three Months Ended December 31, 2017 $ 7,500 Ended March 31, 2018 Office equipment Accumulated depreciation-office equipment Computer equipment Accumulated depreciation-Computer equipment $ 7,500 375 750 12,000 12,000 750 1,500 44,300 120,668 31,534 83,260 Total revenue Total assets Required: 1. Assume that Business Solutions does not acquire additional office equipment or computer equipment in 2018. Compute amounts for the year ended December 31, 2018, for Depreciation expense-Office equipment...
Selected ledger account balances for Business Solutions follow For Three Months Ended December 31, For Three...
Selected ledger account balances for Business Solutions follow For Three Months Ended December 31, For Three Months Ended March 31, Spoed $ 8,700 $ 8,7ee office equipment Accumulated depreciation office equipment Computer equipment Accumulated depreciation-Computer equipment Total revenue Total assets le, eee 1.250 10.ee 625 31,734 83,760 122,068 Required: 1. Assume that Business Solutions does not acquire additional office equipment or computer equipment in 2018. Compute amounts for the year ended December 31, 2018, for Depreciation expense-Office equipment and for...
Selected ledger account balances for Business Solutions follow. For Three Months Ended December 31, 2017 For...
Selected ledger account balances for Business Solutions follow. For Three Months Ended December 31, 2017 For Three Months Ended March 31, 2018 Office equipment $ 7,500 $ 7,500 Accumulated depreciation—Office equipment 375 750 Computer equipment 12,000 12,000 Accumulated depreciation— Computer equipment 750 1,500 Total revenue 31,534 44,300 Total assets 83,260 120,668 Required: 1. Assume that Business Solutions does not acquire additional office equipment or computer equipment in 2018. Compute amounts for the year ended December 31, 2018, for Depreciation expense—Office...
COST ACCOUNTING I. Journalizing transactions; calculating overhead; adjusting manufacturing overhead; proving ledger account balances a. Follow...
COST ACCOUNTING I. Journalizing transactions; calculating overhead; adjusting manufacturing overhead; proving ledger account balances a. Follow instructions in numbers 1 & 2. **The job cost sheets are shown below (Last page). For #1 just name each cost sheet and enter beginning balances shown b. For #2, Name the cost sheet c. Journalize numbers 3 and 5 through 12; **Number 4 just requires you to calculate the pre- determined overhead rate 1. At the beginning of the period, May 1, three...
I. Journalizing transactions; calculating overhead; adjusting manufacturing overhead; proving ledger account balances a. Follow instructions in...
I. Journalizing transactions; calculating overhead; adjusting manufacturing overhead; proving ledger account balances a. Follow instructions in numbers 1 & 2. **The job cost sheets are shown below (Last page). For #1 just name each cost sheet and enter beginning balances shown b. For #2, Name the cost sheet c. Journalize numbers 3 and 5 through 12; **Number 4 just requires you to calculate the pre- determined overhead rate 1. At the beginning of the period, May 1, three jobs were...
After the success of the company’s first two months, Santana Rey continues to operate Business Solutions. The November 30, 2019, unadjusted trial balance of Business Solutions (reflecting its transactions for October and November of 2019) follows.
Hi, I really need help with the remaining questions, I had answers before but I Just couldn't understand what I did wrong! Part 14.pngPart 12.pngPart 13.pngPart 11.pngPart 10.pngPart 9.pngPart 8.pngPart 7.pngPart 6.pngPart 5.pngPart 4.pngPart 3.pngPart 2.pngPart 1.png
The following account balances at the beginning of January were selected from the general ledger of...
The following account balances at the beginning of January were selected from the general ledger of Fresh Bagel Manufacturing Company Work in process inventory Raw materials inventory Finished goods inventory $0 $28,800 $40,700 Additional data: 1. Actual manufacturing overhead for January amounted to $64,900. 2. Total direct labor cost for January was $63,300. 3. The predetermined manufacturing overhead rate is based on direct labor cost. The budget for the year called for $240,000 of direct labor cost and $336,000 of...
The following selected account balances were taken from XYZ Company's general ledger at January 1, 2018...
The following selected account balances were taken from XYZ Company's general ledger at January 1, 2018 and December 31, 2018: January 1, 2018 December 31, 2018 Inventory 31,000 18,000 Equipment 123,000 144,000 Investments 42,000 37,000 Land 91,000 40,000 Mortgage payable 111,000 60,000 Retained earnings 32,000 37,000 Additional information for 2018 appears below: 1. XYZ Company sold land costing $60,000 and recorded a $4,000 loss on the sale. 2. XYZ Company purchased equipment for $21,000 cash. 3. XYZ Company purchased investments...
Serial Problem Business Solutions LO P1, A1 Selected ledger account balances for Business Solutions follow. pok Office equipment Accumulated depreciation-office equipment Computer equipment Accumulated depreciation-Computer equipment Total revenue Total assets For Three Months Ended December 31, 2019 $ 7,300 365 22,000 1,375 31,384 84,260 For Three Months Ended March 31, 2020 $ 7,300 730 22,000 2,750 44,100 120,668 Required: 1. Assume that Business Solutions does not acquire additional office equipment or computer equipment in 2020. Compute amounts for the year...
Selected ledger account balances for Business Solutions follow. For Three Months For Three Months Ended December 31, 2017 $ 7,500 Ended March 31, 2018 Office equipment Accumulated depreciation-office equipment Computer equipment Accumulated depreciation-Computer equipment $ 7,500 375 750 12,000 12,000 750 1,500 44,300 120,668 31,534 83,260 Total revenue Total assets Required: 1. Assume that Business Solutions does not acquire additional office equipment or computer equipment in 2018. Compute amounts for the year ended December 31, 2018, for Depreciation expense-Office equipment...
Selected ledger account balances for Business Solutions follow For Three Months Ended December 31, For Three Months Ended March 31, Spoed $ 8,700 $ 8,7ee office equipment Accumulated depreciation office equipment Computer equipment Accumulated depreciation-Computer equipment Total revenue Total assets le, eee 1.250 10.ee 625 31,734 83,760 122,068 Required: 1. Assume that Business Solutions does not acquire additional office equipment or computer equipment in 2018. Compute amounts for the year ended December 31, 2018, for Depreciation expense-Office equipment and for...
The following account balances at the beginning of January were selected from the general ledger of Fresh Bagel Manufacturing Company Work in process inventory Raw materials inventory Finished goods inventory $0 $28,800 $40,700 Additional data: 1. Actual manufacturing overhead for January amounted to $64,900. 2. Total direct labor cost for January was $63,300. 3. The predetermined manufacturing overhead rate is based on direct labor cost. The budget for the year called for $240,000 of direct labor cost and $336,000 of...
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