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Answer:
<u>Wilson Trucking Company classified balance sheet as of December 31.</u>
Assets
Non - Current Assets
Trucks 172,000
Accumulated depreciation Trucks (36,000) 136,000
Land 85,000
Total Non - Current Assets 221,000
Current Assets
Office supplies 3,000
Accounts receivable 17,000
Cash 8,000
Total Current Assets 28,500
Total Assets 249,500
Equity and Liabilities
Equity
Common stock 15,000
Retained earnings 155,000
Dividends (20,000)
Total Equity 110,000
Liabilities
Non - Current Liabilities
Long-term notes payable 58,000
Total Non - Current Liabilities 58,000
Current Liabilities
Accounts payable 12,000
Interest payable 4,000
Total Current Liabilities 16,000
Total Equity and Liabilities 249,500
Explanation:
The following appear in the Balance Sheet.
- Assets
- Liabilities
- Equity
When preparing the Balance Sheet remember the Accounting Equation : Assets = Equity + Liabilities.,
Answer:
The correct answer is B
Explanation:
Giving the following information:
The estimate of annual overhead costs for its jobs was $2,050,000.
The budgeted machine hours for the year totaled 40,000.
The company used 1,000 hours of processing on Job No. LKP.
First, we need to calculate the estimated manufacturing overhead rate using the following formula:
Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Estimated manufacturing overhead rate= 2,050,000/40,000= $51.25 per machine hour
Now, we can allocate overhead to Job LKP:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 51.25*1,000= $51,250
Answer:
There are about 15-20 words in an average sentence
Explanation:
<em>Hope this helps :)</em>
<em>pls make brainliest :]</em>
<em>And have an amazing day <3</em>
Answer and Explanation:
The adjusting entry is given below:
On Dec 31,2017
Unearned Rent Revenue $25,000 ($75,000 × 4 months ÷ 12 months)
To Rent Revenue $25,000
(Being revenue earned is recorded)
Here unearned rent revenue is debited as it decreased the liability and credited the rent revenue as it increased the revenue