he following events apply to Montgomery Company for Year 1, its first year of operation: Received cash of $31,000 from the issue of common stock. Performed $50,000 of services on account. Incurred $6,900 of other operating expenses on account. Paid $23,000 cash for salaries expense. Collected $35,500 of accounts receivable. Paid a $3,200 dividend to the stockholders. Performed $9,700 of services for cash. Paid $5,700 of the accounts payable. Required a. Record the preceding transactions in general journal form. b. Post the entries to T-accounts and determine the ending balance in each account. c.

Emily sold the following investments during the year: stock date purchased date sold sales price cost basis a. 1,000 shares dot com co. 03-21-2007 02-04-2018 $20,000 $5,000 b. 500 shares big box store 05-19-2017 01-22-2018 $8,200 $7,500 c. 300 shares lotta fun, inc. 10-02-2017 09-21-2018 $3,000 $4,500 d. 700 shares local gas co. 06-17-2017 11-11-2018 $14,000 $17,000 for each stock, calculate the amount and the nature of the gain or loss.

Harwood company uses a job-order costing system that applies overhead cost to jobs on the basis of machine-hours. the company's predetermined overhead rate of $2.50 per machine-hour was based on a cost formula that estimates $240,000 of total manufacturing overhead for an estimated activity level of 96,000 machine-hours. required: 1. assume that during the year the company works only 91,000 machine-hours and incurs the following costs in the manufacturing overhead and work in process accounts: compute the amount of overhead cost that would be applied to work in process for the year and make the entry in your t-accounts. 2a. compute the amount of underapplied or overapplied overhead for the year and show the balance in your manufacturing overhead t-account. 2b. prepare a journal entry to close the company's underapplied or overapplied overhead to cost of goods sold.

Cynthia is a hospitality worker in the lodging industry who prefers to cater to small groups of people. she might want to open a