The Righter Shoe Store Company prepares monthly financial statements for its bank. The November 30 and December 31, 2021, trial balances contained the following account information:
Nov. 30 Dec. 31
Dr. Cr. Dr. Cr.
Supplies 2,300 3,800
Prepaid insurance 6,800 4,900
Salaries payable 14,000 15,800
Deferred rent revenue 3,600 1,800
The following information also is known:
The December income statement reported $2,800 in supplies expense.
No insurance payments were made in December.
$14,000 was paid to employees during December for salaries.
On November 1, 2021, a tenant paid Righter $5,400 in advance rent for the period November through January. Deferred rent revenue was credited.
Required:
a. Using the above information for December, write down the T-accounts.
b. Using the above information, prepare the adjusting entries Righter recorded for the month of December.
Answers: 2
Business, 22.06.2019 02:30, llama1314
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
Answers: 2
Business, 22.06.2019 14:50, 2020EIglesias180
Pederson company reported the following: manufacturing costs $480,000 units manufactured 8,000 units sold 7,500 units sold for $90 per unit beginning inventory 2,000 units what is the average manufacturing cost per unit? (round the answer to the nearest dollar.)
Answers: 3
Business, 22.06.2019 15:00, AldecuaF10
Beagle autos is known for its affordable and reliable brand of consumer vehicles. because its shareholders expect to see an improved rate of growth in the coming years, beagle's executives have decided to diversify the company's range of products so that at least 40 percent of the firm's revenue is generated by new business units. however, the company's resources, capabilities, and competencies are limited to producing other forms of motorized vehicles, such as motorcycles and all-terrain vehicles (atvs). which type of corporate diversification strategy should beagle pursue?
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Business, 22.06.2019 16:00, heavenwagner
In microeconomics, the point at which supply and demand meet is called the blank price
Answers: 3
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