Selected accounts with some debits and credits omitted are presented as follows: work in processoct. 1 balance 20,000 oct. 31 goods finished x31 direct materials 96,70031 direct labor 201,00031 factory overhead xfinished goodsoct. 1 balance 52,00031 goods finished 360,000if the balance of work in process at october 31 is $21,000. what was the amount of factory overhead applied in october?

If a company’s employees are angry about their work, a visiting auditor may also become agitated, illustrating the power of

What does the phrase limited liability mean in a corporate context?

During the first month of operations, martinson services, inc., completed the following transactions: jan 2 martinson services received $65,000 cash and issued common stock to the stockholders. 3 purchased supplies, $1,000, and equipment, $12,000, on account. 4 performed services for a customer and received cash, $5,500. 7 paid cash to acquire land, $39,000. 11 performed services for a customer and billed the customer, $4,100. martinson expects to collect within one month 16 paid for the equipment purchased january 3 on account. 17 paid for newspaper advertising, $600. 18 received partial payment from customer on account, $2,000. 22 paid the water and electricity bills, $430. 29 received $2,600 cash for servicing the heating unit of a customer. 31 paid employee salary, $2,900. 31 declared and paid dividends of $1,800. requirements 1. record each transaction in the journal. key each transaction by date. explanations are not required. 2. post the transactions to the t-accounts, using transaction dates as posting references. label the ending balance of each account bal, as shown in the chapter. 3. prepare the trial balance of martinson services, inc., at january 31 of the current year. 4. mark martinson, the manager, asks you how much in total resources the business has to work with, how much it owes, and whether january was profitable (and by how much)?