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Luden [163]
2 years ago
8

Match each of the following accounts to its proper balance sheet classification.

Business
1 answer:
arlik [135]2 years ago
8 0

Answer:

   Account                                          Balance sheet classification

a. Accounts payable                          Current liabilities

b. Accounts receivable                     Current Assets

c. Accumulated depreciation            Property,plant and equipment

d. Buildings                                         Property,plant and equipment

e. Cash                                                Current Asset

f. Goodwill                                           Intangible Asset

g. Income taxes payable                    Current liabilities

h. Investment in long-term bonds      Long term investment

i. Land                                                   Property,plant and equipment

j. Inventory                                            Current Assets

k. Patent                                                Intangible Asset

l.  Supplies                                            Current Assets

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3 years ago
Wheeler’s Bike Company manufactures custom racing bicycles. The company uses a job order cost system to determine the cost of ea
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Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Estimated overhead costs:

Factory machinery depreciation 59,000

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Total overhead= 271,150

1)

First, we need to determine the estimated direct labor hours for the period:

Factory direct labor= 215,558

Direct labor rate= $12.11

Direct labor hours= 215,558/ 12.11= 17,800 hours

Now, we can calculate the estimated overhead rate:

To calculate the estimated manufacturing overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 271,150/17,800= $15.23 per direct labor hour

2) To apply overhead, we need to use the following formula:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

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6 0
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Some people believe that the right of privacy should be extended to the workplace. Others feel that, on the contrary, such an ex
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The ideal is for the company to have a set of well-defined policies and procedures with regard to the rights and duties of employees, as long as the policies have ethical and legal foundations, which guarantee the right to privacy and human integrity.

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2 years ago
Capital Company issued $600,000, 10%, 20-year bonds on January 1, 2020, at 103. Interest is payable annually January 1. Capital
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Answer:

Explanation:

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6 0
3 years ago
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