What is the cash dividends?? Liu Zhang operates Lawson Consulting, which began operations on June 1. The Retained Earnings account balance at
June 1 was $0 and the owner invested $10,500 cash in the company on June 1. On June 30, the company's records show
the following accounts and amounts for the month of June.
Part 2 of 3
Cash
Accounts receivable
Equipment
Accounts payable
Common stock
$ 5,000
4,500
6,500
3,000
10,500
Dividends
Service revenue
Rent expense
Wages expense
$ 1,500
12,000
2,000
6,000
10
points
eBook
Hint
QS 2-13 Preparing a statement of retained earnings LO P3
Print
Use the above information to prepare a June statement of retained earnings for Lawson Consulting.
References
LAWSON CONSULTING
Statement of Retained Earnings
For Month Ended June 30
Retained earnings, June 1
$
Add: Net income
0
Mc
Prey
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Nichols inc. manufactures remote controls. currently the company uses a plantminuswide rate for allocating manufacturing overhead. the plant manager is considering switchingminusover to abc costing system and has asked the accounting department to identify the primary production activities and their cost drivers which are as follows: activities cost driver allocation rate material handling number of parts $5 per part assembly labor hours $20 per hour inspection time at inspection station $10 per minute the current traditional cost method allocates overhead based on direct manufacturing labor hours using a rate of $20 per labor hour. what are the indirect manufacturing costs per remote control assuming an method is used and a batch of 10 remote controls are produced? the batch requires 100 parts, 5 direct manufacturing labor hours, and 3 minutes of inspection time.