July 1. Issued 11000 shares of common stock for $11000cash. 1. Purchased used truck for $9000 paying $2000 cash and thebalance on account. 3. Purchased cleaning […]
On January 1 2009 Pink Company finished consultation services and accepted in exchange a promissory note with a face value of $400000 a due date of […]
Present Equipment New Equipment Purchase cost new 47000 45000 Remaining book value 20000 none Cost to rebuild now 20000 none Major maintenance at the end of […]
DIrect materials Paper is added 100% at the beginning of the process Binding is added 100% as the last step in the manufacturing process Conversion costs […]
Direct materials $35000 Direct labor 15000 Variable manufacturing overhead 10000 Fixed manufacturing overhead 20000 $80000 Another company has offered to sell the same component part to […]
Sales (500000 units) $75000000 Cost of goods sold 45000000 Gross profit 30000000 Operating expenses 24000000 Net income $6000000 An analysis of costs and expenses reveals that […]