Answer:
Explanation:
1. Issued common stock to investors in exchange for cash received from inventors - Increase in assets (cash) and an increase in equity (Capital)
2. Paid monthly rent - The decrease in equity and decrease in assets (cash)
3. Received cash from customers when service was rendered - Increase in assets (cash) and an increase in equity
4. Billed customers for services performed - Increase in assets (Accounts Receivable) and an increase in equity
5. Paid dividend to stockholders - The decrease in equity and decrease in assets (cash)
6.Incurred advertising expense on account - Decrease in equity and an increase in liability (Accounts Payable)
7.Received cash from customers billed in - Increase in the asset (cash) and decrease in the asset (Accounts Receivable)
8.Purchased additional equipment for cash - Increase in the asset (Equipment) and decrease in an asset (cash)
9.Purchased equipment on account - Increase in the asset (equipment) and an increase in liabilities (Accounts payable)
Answer:
See below
Explanation:
Mutual interdepence means that action of one firm is seen and copied by others.
Insurance of equipment during shipping, purchase price, freight to deliver the equipment to its location, installation and testing of equipment
Answer:
$7,000
Explanation:
The computation of the amount of purchasing department allocated to assembly department is shown below:
= Total purchasing department cost × number of purchase order ÷Total numbers of purchase orders in overall operating departments
= $35,000 × 4 ÷ 20
= $7,000
The 20 number of purchase orders is come from
= 16 + 4
= 20
We simply applied the above formula
Answer:
The amount should Metlock report as its December 31 inventory is $286,500.
Explanation:
Ending inventory = Phusical count + goods purchased in transit FOB shipping + cost of goods sold in transit FOB destination
= 230000 + 32000+ 24500
= $286,500
Therefore, The amount should Metlock report as its December 31 inventory is $286,500.