Obj. Fees
Dividends + Earned - Expenses
EX 1-13 Nature of transactions
Teri West operates her own catering service. Summary financial data for July are presented in
tion on the equation. Each increase and decrease in stockholders' equity, except transaction
equation form as follows. Each line designated by a number indicates the effect of a transac-
(5), affects net income.
Assets
Liabilities +
Stockholders' Equity
Accounts
Cash + Supplies + Land
Common Retained
Payable + Stock Earnings
Bal. 40,000
3,000 82,000 7,500 50,000
67,500
1. +71,800
2. -15,000
+15,000
-47,500
3. -47,500
4.
+1,100
+1,100
5. -5,000
-5,000
6. -4,000
-4,000
-1,500
7.
-1,500
Bal. 40,300 2,600 97,000
71,800 -49,000
4,600 50,000 67,500 -5,000
+71,800

During the year, the delph company had no beginning or ending inventories and it started, completed, and sold only two jobs—job d-75 and job c-100. it provided the following information related to those two jobs: job d-75: molding fabrication total direct materials cost $ 375,000 $ 325,000 $ 700,000 direct labor cost $ 200,000 $ 160,000 $ 360,000 machine-hours 15,000 5,000 20,000 job c-100: molding fabrication total direct materials cost $ 300,000 $ 250,000 $ 550,000 direct labor cost $ 175,000 $ 225,000 $ 400,000 machine-hours 5,000 25,000 30,000delph had no overapplied or underapplied manufacturing overhead during the year. assume delph uses a plantwide overhead rate based on machine-hours.1-a. compute the predetermined plantwide overhead rate.1-b. compute the total manufacturing costs assigned to job d-70 and job c-200.1-c. if delph establishes bid prices that are 150% of total manufacturing costs, what bid price would it have established for job d-70 and job c-200? 1-d. what is delph's cost of goods sold for the year? assume delph uses departmental overhead rates based on machine-hours.2-a. compute the predetermined departmental overhead rates.2-b. compute the total manufacturing costs assigned to job d-70 and job c-200.2-c. if delph establishes bid prices that are 150% of total manufacturing costs, what bid price would it have established for job d-70 and job c-200? 2-d. what is delph's cost of goods sold for the year?

Which of the statements is true about the values recorded in the balance sheet of a firm?

Camping gear, inc. had 500 units of inventory on hand at the end of the year. these were recorded at a cost of $ 13 each using the lastminusin, firstminusout (lifo) method. the current replacement cost is $ 9 per unit. the selling price charged by camping gear, inc. for each finished product is $ 14. as a result of recording the adjusting entry as per the rule, the gross profit will