Mathematics
Mathematics, 24.11.2021 15:30, cash8812

Wally’s Widget Company (WWC) incorporated near the end of 2011. Operations began in January of 2012. WWC prepares adjusting entries and financial statements at the end of each month. Balances in the accounts at the end of January are as follows: Cash $ 20,420 Unearned Revenue (35 units) $ 4,950

Accounts Receivable $ 11,450 Accounts Payable (Jan Rent) $ 2,500

Allowance for Doubtful Accounts $ (1,500) Notes Payable $ 16,000

Inventory (40 units) $ 3,600 Contributed Capital $ 6,200

Retained Earnings – Feb 1, 2012 $ 4,320

• WWC establishes a policy that it will sell inventory at $145 per unit.

• In January, WWC received a $4,950 advance for 35 units, as reflected in Unearned Revenue.

• WWC’s February 1 inventory balance consisted of 40 units at a total cost of $3,600.

• WWC’s note payable accrues interest at a 12% annual rate.

• WWC will use the FIFO inventory method and record COGS on

answer
Answers: 3

Other questions on the subject: Mathematics

image
Mathematics, 21.06.2019 16:30, pandamaknae2003
Iwant to know what 3g+5h+4g-2h is my teacher is too selfish to tell us
Answers: 1
image
Mathematics, 21.06.2019 19:00, kevin2920
Me asap on # : explain how factoring a trinomial, ax^2+ bx+ c, when a does not equal 1 different from factoring a trinomial when a = 1.
Answers: 2
image
Mathematics, 21.06.2019 22:00, vipergod07
Four quarts of a latex enamel paint will cover about 200 square feet of wall surface. how many quarts are needed to cover 98 square feet of kitchen wall and 52 square feet of bathroom wall
Answers: 1
image
Mathematics, 21.06.2019 23:10, paradisetiyae5261
Use the distance formula to find the distance between (-3,5) and (3,1)
Answers: 1
Do you know the correct answer?
Wally’s Widget Company (WWC) incorporated near the end of 2011. Operations began in January of 2012....

Questions in other subjects:

Konu
Social Studies, 12.10.2019 18:30
Konu
Mathematics, 12.10.2019 18:30