The dayton corporation began the current year with a retained earnings balance of $32,000. during the year, the company corrected an error made in the prior year, which was a failure to record a depreciation expense of $3,000 on equipment. also, during the current year, the company earned a net income of $12,000 and declared cash dividends of $7,000. compute the year-end retained earnings balance.

On january 1, 2018, johnstone leased an office building. terms of the lease require johnstone to make 15 annual lease payments of $134,000 beginning on january 1, 2018. a 10% interest rate is implicit in the lease agreement. at what amount should johnstone record the lease liability on january 1, 2018, before any lease payments are made?

Braverman company has two manufacturing departments—finishing and fabrication. the predetermined overhead rates in finishing and fabrication are $18.00 per direct labor-hour and 110% of direct materials cost, respectively. the company’s direct labor wage rate is $16.00 per hour. the following information pertains to job 700: finishing fabrication direct materials $ 410 $ 60 direct labor $ 128 $ 48 required: 1. what is the total manufacturing cost assigned to job 700? 2. if job 700 consists of 15 units, what is the unit product cost for this job?

What is the relationship between credit and debt?