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3 years ago

The following data is obtained from the general records in the shipping department at Rapid Parcel Delivery Company for August:

Business

1 answer:

solong [7]3 years ago

3 0

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.

Download xlsx

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Assume that Denis Savard Inc. has the following accounts at the end of the current year. 1.Common Stock14.Accumulated Depreciati

boyakko [2]

Answer:

Denis Savard Inc

Classified Balance sheet

Amount$ Amount$ Amount$

Assets

Current Assets

Cash xxx

Less Cash Restricted for Plant xxx xxx

Expansion

Accounts Receivable xxx

Less Allowance for Doubtful debt xxx xxx

Notes Receivable xxx

Receivables-Officers xxx

Inventory

Finished goods xxx

Work in Process. xxx

Raw Materials xxx xxx

Total Current Assets xxx

Stockholders Equity

Common Stock xxx

Add Paid-in Capital in Excess of xxx

Par-Common Stock.

Total paid in capital xxx

Add Retained Earnings. xxx

Total paid in capital and retained earnings xxx

Less Treasury Stock (at cost) xxx

Total Stockholders Equity xxx

Total Liability and Stockholders Equity xxx

Liability and Stockholders Equity

Current Liability

Salaries and Wages Payable. xxx

Unearned Subscriptions Revenue. xxx

Unearned Rent Revenue. xxx

Total Current Liability. xxx

Long term liabilities

Bonds Payable (due in 4 years) xxx

Less Discount on Bonds Payable xxx xxx

Total Long term liabilities. . xxx

Long term Investment

Preferred Stock (Equity) Investments. xxx

Land Held for Future Plant Site.. xxx

Cash Restricted for Plant Expansion. xxx

Total Long term Investment. xxx

Property, Plants and Equipment

Building. xxx

Less Accumulated Depreciation xxx xxx

- Buildings

Total Property, Plants and . xxx

Equipment

Intangible Assets

Copyrights. . xxx

Total Intangible Assets. . xxx

Total Assets. . xxx

3 0

3 years ago

Celine Dion Company issued $600,000 of 10%, 20-year bonds on January 1, 2020, at 102. Interest is payable semiannually on July 1

anzhelika [568]

Answer:

The Journal entries are as follows:

(a) On January 1, 2020

Cash A/c(6,000 bonds × $102) Dr. $612,000

To Bonds payable $600,000

To premium on bonds payable $12,000

(To record the issuance of the bonds)

Workings:

premium on bonds payable = $612,000 - $600,000

= $12,000

(b) On July 1, 2020

Interest expense A/c Dr. $29,700

Premium on bonds payable A/c Dr. $300

To cash A/c $30,000

(To record the interest expense)

Workings:

Cash = $600,000 × (6/12) × 10%

= $30,000

Premium on bonds payable = $12,000 ÷ 40 periods

= $300

Interest expense A/c Dr. $29,700

Premium on bonds payable A/c Dr. $300

To Interest payable A/c $30,000

(To record the accrual of interest expense)

8 0

3 years ago

The following production data were taken from the records of the Finishing Department for July:

SashulF [63]

Answer:

c. 37,000 units

Explanation:

Calculation to Determine the total equivalent units for direct materials, assuming that the first-in, first-out method is used to cost inventories

Using this formula

Total equivalent units for direct materials= Transferred to finished goods during the month of July + Ending work in process during the month of July - Inventory in process as on July 1

Let plug in the formula

Total equivalent units for direct materials= 37,500 units + 3,500 units - 4,000 units

Total equivalent units for direct materials= 41,000 units - 4,000 units

Total equivalent units for direct materials= 37,000 units

Therefore the total equivalent units for direct materials, assuming that the first-in, first-out method is used to cost inventories is 37,000 units

7 0

3 years ago

A beverage company that competes with Coca-Cola Company cannot call its products "Koke." a. True b. False

liraira [26]

Answer:

The correct answer is letter "A": True.

Explanation:

Coca-Cola, the worldwide known coca-flavored soda, is also called just "Coke" in most English-speaking countries. If another company selling also beverages decides to go by the name of "Koke" it would create confusion to its benefit. That company would be taking advantage of the reputation and preference Coca-Cola has gained over the years to boost its profits. For that matter, that organization cannot call its beverage "Koke", otherwise, Coca-Cola could sue them and is likely to win the dispute.

8 0

3 years ago

What impacts the growth of small business

In-s [12.5K]

Answer:

Variation in size, scope and buoyancy of demand in local markets is likely to affect growth opportunities. ... A business set up to exploit an identified market opportunity would be expected to have stronger growth orientation than one set up as a result of 'push' factors such as a lack of alternative opportunities.

8 0

3 years ago