Zuhoor Muscat Company is a manufacturer of thermal Imaging cameras. On 31 March 2021, the following balances are shown in its
ledger accounts after adjustments: Cash: RO3,425; Wages Payable: RO 440, Ofhce Equipment: RO 51,650, Accumulated
Depreciation. Olhce Equipment RO 14,650; Accounts Receivable: RO 8,000; Patents: RO 2,000; Fees Income: RO 60,625; Wages
Expense: RO 22,855, Depreciation Expense: RO 4,950; Rent Expense: RO 4,200Utilities Expense: RO 2,715; Supplies Expense: RO
890; Insurance Expense: RO 315; Miscellaneous Expense: RO 1,505: Unearned Fees: RO 750; Share Capital: RO 47,995; Accounts
Payable: RO 925; Supplies: RO 380; Prepaid Insurance RO 305; Notes Payable: RO 1,000; Retained Earnings 1 April 2020: ROO;
Dividends: RO 5,200. The ending balance on Retained Earnings on 31 March 2021 is:
Answers: 2
Business, 22.06.2019 03:00, jamesgotqui6
Presented below is a list of possible transactions. analyze the effect of the 18 transactions on the financial statement categories indicated. transactions assets liabilities owners’ equity net income 1. purchased inventory for $80,000 on account (assume perpetual system is used). 2. issued an $80,000 note payable in payment on account (see item 1 above). 3. recorded accrued interest on the note from item 2 above. 4. borrowed $100,000 from the bank by signing a 6-month, $112,000, zero-interest-bearing note. 5. recognized 4 months’ interest expense on the note from item 4 above. 6. recorded cash sales of $75,260, which includes 6% sales tax. 7. recorded wage expense of $35,000. the cash paid was $25,000; the difference was due to various amounts withheld. 8. recorded employer’s payroll taxes. 9. accrued accumulated vacation pay. 10. recorded an asset retirement obligation. 11. recorded bonuses due to employees. 12. recorded a contingent loss on a lawsuit that the company will probably lose. 13. accrued warranty expense (assume expense warranty approach). 14. paid warranty costs that were accrued in item 13 above. 15. recorded sales of product and related service-type warranties. 16. paid warranty costs under contracts from item 15 above. 17. recognized warranty revenue (see item 15 above). 18. recorded estimated liability for premium claims outstanding.
Answers: 1
Business, 22.06.2019 11:00, PastyMexican24
On analyzing her company’s goods transport route, simone found that they could reduce transport costs by a quarter if they merged different transport routes. what role (job) does simone play at her company? simone is at her company.
Answers: 1
Business, 22.06.2019 12:00, ddaaaeeee3503
Which of the following is one of the advantages primarily associated with a performance appraisal? (a) it protects employees against discrimination on the basis of race. (b) it motivates employees to work on their shortcomings. (c) it encourages employees to play the role of the whistle-blower. (d) it accurately measures the resources of the firm.
Answers: 2
Business, 22.06.2019 20:40, Blazingangelkl
Which one of the following statements is correct? process costing systems use periodic inventory systems. process costing systems assign costs to departments or processes for a time period. companies that produce many different products or services are more likely to use process costing systems. production is continuous when a job-order costing is used to ensure that adequate quantities are on hand.
Answers: 2
Zuhoor Muscat Company is a manufacturer of thermal Imaging cameras. On 31 March 2021, the following...
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