Answer:
$0
Explanation:
Based on the information given what the STOCKHOLDERS RECEIVE if they currently have 2million shares with a par value of $1 each will be $0 reason been that the Stockholder claims have the LOWEST PRIORITY in a bankruptcy based on the fact that the debts amount has exceeded the firm's value which means that there is $0 amount left for current shareholders.
Answer:
COGS= $680500
Explanation:
The cost of goods sold refers to the direct costs attributable to the production of the goods sold in a company. This amount includes the cost of the materials used in creating the goods along with the direct labor costs used to produce the goods. It excludes indirect expenses, such as distribution costs and sales force costs.
COGS=Beginning Inventory+Production during period−Ending Inventory
We need to calculate the production during the period.
Cost of manufactured period= Beginning work in progress inventory+ direct materials + direct labor + factory overhead - ending work in progress
Cost of manufactured period= 118,500+ 298,500 + 132,000 + 264,000 - 125,900 =$687,100
COGS= 232,100 + 687,100 - 238,700=$680500
Answer:
a. Record the adjusting entry related to outstanding checks, if necessary.
No adjusting entry is necessary for recording outstanding checks.
b. Record the adjusting entry related to bank service charges, if necessary.
June 30, 202x, bank fees expense
Dr Bank fees expense 20
Cr cash 20
c. Record the adjusting entry related to Check No. 919, if necessary.
June 30, 202x, adjusting entry for mistake on recording Check No. 919
Dr Cash 9
Cr utilities expense 9
d. Record the adjusting entry related to the June 30 deposit, if necessary.
No adjusting entry is necessary for recording deposits on transit.