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2 years ago

Lewis company has $25,000 in retained earnings, $40,000 in assets, and $11,000 in liabilities. how much is in common stock?

1 answer:

6 0

BASIC FORMULAE IS ASSETS -(LIABILITIES +COMMON STOCK)=RETAINED EARNINGS SO, BY SUBSTITUTION 40000-(11000+COMMON STOCK)=25000 THUS COMMON STOCK 4000

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Answer:

C) confirmations and account statements

Explanation:

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Answer:

cost to WIP at April 30th: 300,000

materials 240,000

conversion 60,000

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Materials equivalent units:

Materials are addedirely at the beginning of the process thus, all are at 100%

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20,000 - 600 x 100% + 2,000 x 100% =

20,000 - 600 + 2,000 = 21,400

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Conversion equivalent units

transferred out - beginning x percentage of completion + ending x % completion

20,000 - 600 x 60% + 2,000 x 20%

20,000 - 360 + 400 = 20,040 units

equivalent cost per unit CC: 3,006,000 / 20,040 = $ 150

Ending WIP_ 2,000 units x 20% x $ 150 = $ 60,000

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