Gifford Company experienced the following accounting events during 2019: Started operations on January 1 when it acquired $27,300 cash by issuing common stock.
Earned $46,400 of revenue on account.
On March 1 collected $56,900 cash as an advance for services to be performed for a one-year period starting March 1.
Collected $30,000 cash from accounts receivable.
On December 31, Year 2019, adjusted the books to recognize the revenue earned by providing services related to the advance described in Event 3.
a. Record the events in a financial statements model.
b. What amount of revenue would Gifford report on the December 2018 income statement?
c. What amount of cash flow from customers would Gifford report on the 2018 statement of cash flows?
d. What amount of unearned revenue would Gifford report on the 2018 and 2019 year-end balance shoots?
1. What are the 2019 opening balances for the revenue and expense accounts?
2. What amount of total assets would Gifford report on the December 21, 2018 balance sheet?

Sweeten company had no jobs in progress at the beginning of march and no beginning inventories. the company has two manufacturing departments--molding and fabrication. it started, completed, and sold only two jobs during march—job p and job q. the following additional information is available for the company as a whole and for jobs p and q (all data and questions relate to the month of march): molding fabrication total estimated total machine-hours used 2,500 1,500 4,000 estimated total fixed manufacturing overhead $ 10,000 $ 15,000 $ 25,000 estimated variable manufacturing overhead per machine-hour $ 1.40 $ 2.20 job p job q direct materials $ 13,000 $ 8,000 direct labor cost $ 21,000 $ 7,500 actual machine-hours used: molding 1,700 800 fabrication 600 900 total 2,300 1,700 sweeten company had no underapplied or overapplied manufacturing overhead costs during the month. required: for questions 1-8, assume that sweeten company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. for questions 9-15, assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both departments. 1. what was the company’s plantwide predetermined overhead rate? (round your answer to 2 decimal places.) next

Which of the following is not an example of one of the four mail advantages of prices on a free market economy

Manipulation manufacturing's (amm) standards anticipate that there will be 5 pounds of raw material used for every unit of finished goods produced. amm began the month of maymay with 8,000 pounds of raw material, purchased 25,500 pounds for $ 15,300 and ended the month with 7,400 pounds on hand. the company produced 4,9004,900 units of finished goods. the company estimates standard costs at $ 1.10 per pound. the materials price and efficiency variances for the month of maymay were: