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2 years ago

Bearcat Construction begins operations in March and has the following transactions.

Business

1 answer:

EleoNora [17]2 years ago

5 0

Answer:

Mar. 1

Dr Cash $16,500

Cr Common stock $16,500

Mar. 5

Dr Cash $8,100

Cr Notes payable $8,100

Mar. 10

Dr Equipment $20,500

Cr Cash $20,500

Mar. 15

Dr Advertising expense .$1,100

Cr Cash $1,100

Mar. 22

Dr Accounts receivable

$17,100

Cr Service revenue $17,100

Mar. 27

Dr Cash $12,100

Cr Accounts receivable $12,100

Mar. 28

Dr Salaries expense $5,100

Cr Cash $5,100

Explanation:

Preparation of the journal entries

Mar. 1

Dr Cash $16,500

Cr Common stock $16,500

Mar. 5

Dr Cash $8,100

Cr Notes payable $8,100

Mar. 10

Dr Equipment $20,500

Cr Cash $20,500

Mar. 15

Dr Advertising expense .$1,100

Cr Cash $1,100

Mar. 22

Dr Accounts receivable

$17,100

Cr Service revenue $17,100

Mar. 27

Dr Cash $12,100

Cr Accounts receivable $12,100

Mar. 28

Dr Salaries expense $5,100

Cr Cash $5,100

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The amount of overhead that Lowden should be recorded in the current period = 165% * $74,000 = $122,100

Explanation:

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2 years ago

In the individual level adoption process for a low involvement good, such as a new pack of gum or candy bar, what two steps in t

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Answer:

evaluation and trial

Explanation:

In low involvement goods such as a new pack of gum or candy bar the evaluation and trial stages are often reversed. This is mainly due to there being very low risk for trying out a new unrecognized brand of such a product, this combined with the amount of time needed in order to evaluate other options greatly outweighs the benefit. Therefore most individuals try the product out instead of evaluating all options which isn't done for higher risk purchases.

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3 years ago

Presented below is information related to Dino Radja Company.

Alja [10]

Answer:

Dino Radja Company

The ending inventory for Dino Radja Company for 2017 through 2022 using the dollar-value LIFO method:

Date Ending Inventory Price Dollar Value

(End-of-Year Prices) Index LIFO

December 31, 2017 $ 80,000 100 $80,000 ($80,000*1.00)

December 31, 2018 115,500 105 110,000 ($115,500/1.05)

December 31, 2019 108,000 120 90,000 ($108,000/1.20)

December 31, 2020 122,200 130 94,000 ($122,200/1.30)

December 31, 2021 154,000 140 110,000 ($154,000/1.40)

December 31, 2022 176,900 145 122,000 ($176,900/1.45)

Explanation:

a) Data and Calculations:

Date Ending Inventory Price Index

(End-of-Year Prices)

December 31, 2017 $ 80,000 100

December 31, 2018 115,500 105

December 31, 2019 108,000 120

December 31, 2020 122,200 130

December 31, 2021 154,000 140

December 31, 2022 176,900 145

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2 years ago

Which workers are required to handle money as part of their job qualifications?

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A lot of Money in that business

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3 years ago

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The board of commissioners of the City of Hartmoore adopted a General Fund budget for the year ending June 30, 2017, that includ

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Answer:

The Journal entry at the beginning of the year is as follows:

Estimated revenue A/c Dr. $1,342,500

Estimated other financing sources-Bonds proceeds A/c Dr. $595,000

To Appropriations control $960,000

To Appropriations-Other financing uses-operating transfer outs $532,500

To Budgetary fund Bal. $445,000

(To record entry at the beginning of the year)

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3 years ago