Answer:
The ending balance in the Work in Process Inventory account $72,500
Explanation:
Direct materials$ 81,500
Direct labor $191,900
Manufacturing overhead $300,000
Manufacturing overhead allocated to production $297,200
Cost of jobs completed and transferred $500,900
Ending Balance of Work in process = Beginning Balance of Work in process +Direct materials + Direct labor Manufacturing overhead -Cost of jobs completed and transferred
Ending Balance of Work in process = $0 + $81,500 + $191,900 + $300,000 - $500,900
Ending Balance of Work in process = $72,500
Answer:
$11,666
Explanation:
The computation of the mount of interest should be capitalized to the project on June 30 is shown below:
= $500,000 × 0.05 × 3 months ÷ 12 months + $300,000 × 0.05 × 2 months ÷ 12 months + $700,000 × 0.05 × 1 months ÷ 12 months
= $6,250 + $2,500 + $2,916
= $11,666
The $300,000 is come from
= $800,000 - $500,000
And, the $700,000 is come from
= $1,500,000 -$800,000
= $700,000
According to the months, the number of months are chosen.
Answer:
1. T-accounts:
Accounts Debit Credit
Accounts Receivable
Balance $4,200
Service Revenue 8,400
Cash 10,200
Accounts Debit Credit
Service Revenue
Accounts Receivable 8,400
Accounts Debit Credit
Supplies
Balance $400
Accounts Payable 2,300
Balance c/d $2,700
Accounts Debit Credit
Accounts Payable
Balance $3,500
Supplies 2,300
Cash $3,700
Balance c/d $2,100
Accounts Debit Credit
Cash Account
Balance $3,400
Accounts Receivable 10,200
Advertising $1,000
Accounts Payable 3,700
Deferred Revenue 1,100
Balance c/d $10,000
Accounts Debit Credit
Advertising Expense
Cash 1,000
Accounts Debit Credit
Accounts Payable
Cash 3,700
Accounts Debit Credit
Deferred Revenue
Balance $300
Cash 1,100
Balance c/d $1,400
Explanation:
a) Data:
General Entries:
Accounts Debit Credit
1. Accounts Receivable 8,400
Service Revenue 8,400
2. Supplies 2,300
Accounts Payable 2,300
3. Cash 10,200
Accounts Receivable 10,200
4. Advertising Expense 1,000
Cash 1,000
5. Accounts Payable 3,700
Cash 3,700
6. Cash 1,100
Deferred Revenue 1,100
b) The beginning balance of each account before the transactions is:
Cash, $3,400
Accounts Receivable, $4,200
Supplies, $400
Accounts Payable, $3,500
Deferred Revenue, $300
Answer:
5.25
Explanation:
So basically, after doing all the addition of the percentage seperateley and the calculations i divided my amount and got 5.25. Hope this helps!
Answer:
End of the contract year.
Explanation:
Calendar year deductibles (and refunds) operate on a regular calendar year basis, starting on January 1st and ending on December 31st. Generally refunds should be made during January and February of the next year.
If the policy works on a plan year basis, both the deductibles and the refunds will be based on the renewal date of the policy, and not the calendar year basis.
