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Assuming the tost of direct materials used is $ 1,500,000 , compute the total manufacturing costs using the information below . Raw materials inventory , January 1 $ 30,000 Raw materials inventory , December 31 60,000 Work in process , January 1 27,000 Work in process , December 31 18,000 Finished goods , January 1 60,000 Finished goods , December 31 48,000 1,500,000 Raw materials purchases 690,000 Direct labor 225,000 75,000 Factory utilities Indirect labor 500,000 630,000 Factory depreciation Operating expenses
Ponszko Nursery used high - low data from June and July to determine its variable cost of 518 per unit . Additional information follows : Month Units produced Total.costs June 2.000 $ 48.000 July 1,000 30,000 If Ponszko's produces 2,300 units in August , how much is its total cost expected to be ? Format $ 552,000 Answer :
originally estimated to have a salvage value of K5,000 and an estimated life of 10 years. Depreciation has been recorded through December 31, 2020, using the Double Declining Balance Method. On January 1, 2021, the estimated salvage value was revised to K7,000 and the useful life was revised to a total of 8 years.
Required:
Calculate the book value at the time of the revision (January 1, 2021).
Pass the journal entry for the depreciation in 2021.
If in the question didn't mention about the mode of purchase transaction is furniture purchase worth rs. 300000 what is the accounting equation ?
What is Interest Expense?
What is Interest Accrual?
purchased furniture for Rs. 300000/- what is the journal entry for it?
I asked a similar question awhile ago and you guys answered my question perfectly. Can you guys do the same thing here. The response I received is not helpful because the question is not getting answered. I appreciate all the help you guys provide me and I can't thank you enough. Just analyze each question and provide me a simple explanation based on that question. Thank you.
1. What does it mean when you Understate your Cost of Goods Sold?
2. What does it mean when you Overstate your Cost of Goods Sold?
3. What does it mean when you Understate your Ending Inventory?
4. What does it mean when you Overstate your Ending Inventory?
I asked a similar question awhile ago and you guys answered my question perfectly. Can you guys do the same thing here. The response I received is not helpful because the question is not getting answered. I appreciate all the help you guys provide me and I can't thank you enough. Just analyze each question and provide me a simple explanation based on that question.
5. What does it mean when you Overstate your Expenses?
6. What does it mean when you Understate your Expenses?
7. What does it mean when you Overstate your Current Assets?
8. What does it mean when you Understate your Current Assets?
9. What does it mean when you Overstate your Profit?
10. What does it mean when you Understate your Profit?
11. What does it mean when you Overstate your Assets?
12. What does it mean when you Understate your Assets?
Is an expenditure an asset, liability, or an expense? What type of account is it?
What is the difference between an Expenditure and Expense?
Thank you.
There are 7 items listed below. Can you please answer all 7 questions. Can you also number them, so its easier for me know which question you answered? Thank you.
Debit ROU Asset
Credit Lease Liability
- What does this journal entry mean?
Debit Interest Expense
Debit Lease Liability
Credit Cash/Lease Payable
- What does this journal entry mean?
Debit Amortization Expense
Credit Accumulated Amortization – ROU asset
- What does this journal entry mean?
Debit Lease Receivable
Credit Fixed Asset
Credit Gain
- What does this journal entry mean?
Debit Lease Receivable
Debit Residual Asset
Credit Fixed Asset
- What does this journal entry mean?
Debit Cash (lease payment)
Credit Interest Income
Credit Lease Receivable
- What does this journal entry mean?
Debit Cash
Credit Rental Income
- What does this journal entry mean?
