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3 years ago

The following are selected 2015 transactions of Pedigo Corporation.

Business

1 answer:

emmainna [20.7K]3 years ago

5 0

Answer:

Explanation:

The necessary adjusting entries at December 31 to record amortization required by the events above has been prepared.

It should also be noted that due to the goodwill having an indefinite life, no entry was made to amortize the goodwill.

It should be noted that the amortization expense was gotten as:

Annual amortization = $75,000/5

= $15,000

2015 amortization= $15,000 × 8/12months

= $15,000 × 2/3

= $30,000/3

= $10,000

Kindly check the attached file forthe adjusting entries

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Haskins Textile Co. manufactures a variety of fabrics. All materials are introduced at the beginning of production; conversion c

aliya0001 [1]

Answer:

D. 13,000.

Explanation:

The computation of the equivalent units of direct materials for April month is given below

= Number of units completed + ending units remained in production × completion percentage

= 9,000 units + 4,000 units × 100%

= 9,000 units + 4,000 units

= 13,000 units

All the other information that is mentioned is not relevant. Hence ignored it

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3 years ago

Calloway Company recorded a right-of-use asset of $790,000 in a 10-year finance lease. The interest rate charged by the lessor w

enot [183]

Answer:

$632,000

Explanation:

The computation of the amount of balance in the right of use asset after two years is shown below:

Balance in right of use asset after 2 years is

= Recorded value - ((Recorded value × rate of interest) × number of years)

= $790,000 - (($790,000 × 10%) × 2)

= $790,000 - ($79,000 × 2)

= $790,000 - $158,000

= $632,000

hence, the balance is $632,000

5 0

3 years ago

Depasquale Corporation is working on its direct labor budget for the next two months. Each unit of output requires 0.51 direct l

rodikova [14]

Answer:

Total Direct labor 59649.6

Explanation:

We have to multiply the production per month, by the amount of hourd it takes to do a single units, then we multiply by the rate per hour.

May 6,600 units x 0.51 DL x 8.6 rate = 28947.6 direct labor cost

June 7,000 units x 0.51 DL x 8.6 rate = 30,702

FInally, we add both values to get the total

Total Direct labor 59649.6

7 0

2 years ago

A company paid $200 cash for supplies that were purchased last month. However, the company recorded a debit to Accounts Payable

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This company's accounting records are: Incorrect because debits side do no equal credits side.

<h3>Accounting record</h3>

Based on the information given their is an error when recording the journal entry reason been that we are supposed to credit cash with the amount of $200 and not $20.

Due to this error this company's accounting records will be wrong or Incorrect based on the fact that the debits side do no equal credits side.

The principle of accounting entry states that "Every debit entry must have a corresponding credit entry and every credit entry must have a corresponding debit entry"

The correct entry was supposed to be:

Debit Account payable $200

Credit Cash $200

Inconclusion this company's accounting records are: Incorrect because debits side do no equal credits side.

Learn more about accounting record here:brainly.com/question/26282268

3 0

2 years ago

The assets and liabilities of Thompson Computer Services at March 31, the end of the current year, and its revenue and expenses

JulijaS [17]

Answer:

Thompson Computer Services

Statement of Owner's Equity for the current year ended March 31

Capital, Thompson $185,200

Additional investment 15,200

Total Capital, Thompson $200,400

Net income 46,620

Drawing 5,400

Retained earnings $41,220

Owner's Equity $241,620

Explanation:

a) Data and Calculations:

Beginning balance:

Capital, Thompson $185,200

Additional investment 15,200

Total Capital, Thompson $200,400

Cash 32,300

Accounts receivable 9,860

Supplies 1,670

Land 47,500

Building 151,490

Accounts payable $1,200

Capital, Thompson 200,400

Drawing 5,400

Fees earned 82,110

Wages expense 34,330

Miscellaneous expense 470

Office expense 690

Fees earned $82,110

Wages expense 34,330

Miscellaneous expense 470

Office expense 690

Total expenses $35,490

Net income $46,620

Drawing 5,400

Retained earnings $41,220

7 0

3 years ago