On January 1, 2017, Norma Smith and Grant Wood formed a computer sales and service company in Soapsville, Arkansas, by investing $91,164 cash. The new company, Ayayai Sales and Service, has the following transactions during January.1. Pays $12,000 in advance for 3 monthsâ rent of office, showroom, and repair space.2. Purchases 45 personal computers at a cost of $1,656 each, 11 graphics computers at a cost of $2,656 each, and 30 printers at a cost of $456 each, paying cash upon delivery.3. Sales, repair, and office employees earn $13,764 in salaries and wages during January, of which $4,164 was still payable at the end of January.4. Sells 35 personal computers at $2,706 each, 9 graphics computers for $3,756 each, and 20 printers for $656 each; $76,164 is received in cash in January, and $65,470 is sold on a deferred payment basis.5. Other operating expenses of $9,564 are incurred and paid for during January; $3,164 of incurred expenses are payable at January 31.1) Using the transaction data above, prepare (1) a cash-basis income statement and (2) an accrual-basis income statement for the month of January.2) Using the transaction data above, prepare (1) a cash-basis balance sheet and (2) an accrual-basis balance sheet as of January 31, 2017.
Answers: 1
Business, 21.06.2019 21:30, legrandschool1oxa0sd
The following information relates to wagner, inc.: advertising costs $ 18 comma 600 administrative salaries 17 comma 800 delivery vehicle depreciation 1 comma 500 factory repair and maintenance 600 indirect labor 10 comma 000 indirect materials 18 comma 000 manufacturing equipment depreciation 3 comma 000 office rent 58 comma 000 president's salary 1 comma 100 sales revenue 600 comma 000 sales salary 5 comma 200 how much were wagner's period costs
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Business, 21.06.2019 23:00, naomicervero
WalmartââŹâ˘s scm system walmart is famous for its low prices, and you may have experienced its low prices first-hand. at least, you have probably seen its motto, ââŹĹalways low pricesââŹâ always.ââŹĹĽ one of the biggest reasons walmart is able to sell at prices lower than almost everyone else is that it has a superefficient supply chain. its it-enabled supply chain management system is the envy of the industry because it drives excess time and unnecessary costs out of the supply chain. so, because walmart can buy low, it sells low. as a matter of fact, if your company wants to sell items to walmart for it to sell in its stores, you will have to do business with it electronically. if your company canââŹâ˘t do that, walmart wonââŹâ˘t buy anything from you. log on to walmartââŹâ˘s web site (), search for supplier information, and find out what walmartââŹâ˘s requirements are for its suppliers to do business with it electronically. prepare a brief summary of its requirements for presentation in clas
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Business, 22.06.2019 19:40, cieloromero1
Moody corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. at the beginning of the year, the company made the following estimates: machine-hours required to support estimated production 100,000 fixed manufacturing overhead cost $ 650,000 variable manufacturing overhead cost per machine-hour $ 3.00 required: 1. compute the plantwide predetermined overhead rate. 2. during the year, job 400 was started and completed. the following information was available with respect to this job: direct materials $ 450 direct labor cost $ 210 machine-hours used 40
Answers: 3
On January 1, 2017, Norma Smith and Grant Wood formed a computer sales and service company in Soapsv...
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