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Tarea 3.1 Contabilizacion de inventario
Administración de Empresas, NUC University O 1050-3162ONL – Introducción a la Contabilidad II
Profesora Naomi Méndez Centeno, MAcc
19 de mayo de 2023
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Current Attempt in Progress
Selected financial information is available for Blossom Co.
Current assets
Current liabilities
(a)
Year 1
Year 1
$
$83,210
53,000
Year 2
$141,680
Working capital
88,000
Year 3
Calculate the working capital for Blossom Co. for the three years.
$188,410
83,000
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Cullumber Co. has the following transactions related to notes receivable during the last 2 months of the year. The company does not make entries to
accrue interest except at December 31.
r.com: 24/7 On-
Tutoring
Nov. 1 Loaned $53,400 cash to C. Bohr on a 12-month, 9% note.
ary Resources
Dec. 11 Sold goods to K. R. Pine, Inc., receiving a $5,400, 90-day, 8% note.
16 Received a $9,600, 180-day, 8% note to settle an open account from A. Murdock.
31 Accrued interest revenue on all notes receivable.
Journalize the transactions for Cullumber Co. (Omit cost of goods sold entries.) (Credit account titles are automatically indented when amount is entered.…
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QS 23-23 Sustainability and standard overhead rate LO P4
HH Co. uses corrugated cardboard to ship its product to customers. Currently, the company's returns department incurs annual
overhead costs of $230,000 and forecasts 5,000 returns per year. Management believes it has found a better way to package its
products. As a result, the company expects to reduce the number of shipments that are returned due to damage by 6%. In addition,
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Return to the original data. Monk Builders has just signed a contract with the state government to replace the windows in low-
income housing units throughout the state. Monk needs 80,000 windows to complete the job and has offered to buy them from
Wilson at a price of $120.00 per window. Monk will pick up the windows at Wilson's plant, so Wilson will not incur the $2 per
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Problem 23-15 (AICPA Adapted)
On December 31, 2020, Bart Company purchased a machin,
in exchange for a noninterest bearing note requiring eight
payments of P200,000.
The first payment was made on December 31, 2020 and
the others are due annually on December 31.
At date of issuance, the prevailing rate of interest for thi,
type of note was 11%.
PV of an ordinary annuity of 1 at 11% for 8 periods 5.146
PV of an annuity of 1 in advance at 11% for 8 periods 5.712
1. What amount should be recorded as initial cost of the
machine?
a 1,600,000
b. 1,029,200
c. 1,400,000
d. 1,142,400
2. What is the discount on note payable on December 31,
2020?
a. 657,600
b. 457,600
c. 570,800
d.
3. What is the interest expense for 2021?
a. 125,664
b. 103,664
c. 113,212
d. 176,000
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On January 1, 2024. Metlock Company purchased 7.400 shares of Bonita Company's common stock for $132,000. Immediately after
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Assets
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Bonita
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$42.000
$17.400
Accounts receivable
52.380
32.550
Inventory
38.080
25.190
Investment in Bonita Company
132.000
Plant assets
154.140
105.930
Accumulated depreciation plant assets
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(18.700)
$370,800
$162.370
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$24.570
37.450
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125.730
92.500
143,170
16.060
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45.230
29.240
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On April 1, a patent with an estimated useful economic life of 12 years was acquired for $43,200. In addition, on December 31, it was estimated that
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a. Record the acquisition of patent. If an amount box does not require an entry, leave it blank.
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Dec. 31
C. Journalize the adjusting entry on December 31 for the impaired goodwill. If an amount box does not require an entry, leave it blank.
Dec. 31
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24,000
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24,000
24,000
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24,000
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Table of Contents > Week 9: Operational and legal Considerations > Lecture Notes > 09 Operational and Legal Considerations
09 Operational and Legal Considerations -
>
Calculating Capacity
• How many machines do you need?
• You expect your sales to be
3,000,000 granola bars (20g each)
• How large is your plant?
per month
• How many workers do you need?
The machine:
• How much is the investment?
Capacity: 100 kgs per hour
• What are the operating costs?
Requires 2 people to operate it
Takes 8 ft x 40 ft space
• Cost per machine $15,000
Energy and maintenance: $5 per hour
• Cost of material and packaging:
$0.12 per bar
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Quick ratio
Adieu Company reported the following current assets and current liabilities for two recent years:
Dec. 31, 20Y4 Dec. 31, 20Y3
Cash
$830
$1,090
Temporary investments
1,200
1,500
Accounts receivable
820
910
Inventory
2,100
2,500
Accounts payable
1,900
2,500
a. Compute the quick ratio on December 31 for each year. Round to one decimal place.
20Υ4
20Υ3
Quick Ratio
b. Is the quick ratio improving or declining?
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Managers are paid a weekly salary, while servers are paid an hourly wage. In addition to employee compensation, the employer is responsible for payroll tax equal to 7.5% of
compensation. Complete the following table to calculate the weekly compensation and payroll tax paid by the employer. Remember that servers work 10 hours per week.
Employee Type Quantity
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2
$590/week
$0
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14
$10/hour
$0
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On January 1, 2018, Maywood Hydraulics leased drilling equipment from Aqua Leasing for a five-year period ending December 31,
2021, at which time possession of the leased asset will revert back to Aqua. The equipment cost Aqua $429,029 and has an expected
economic life of six years. Aqua expects the residual value at December 31, 2021, to be $65,000. Negotiations led to Maywood
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Equal payments under the lease are $130,000 and are due on December 31 of each year with the first payment being made on…
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instance, membership dues for the first year are paid today, and dues for the second year are payable one year from today. However, the ADLA also
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The following are a series of unrelated situations.
Net sales
Answer the questions relating to each of the five independent situations as requested.
1. Skysong Company's unadjusted trial balance at December 31, 2025, included the following accounts.
Accounts receivable
Allowance for doubtful accounts
Debit
Bad debt expense for 2025 $
$54,800
6,910
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Credit
$1,267,000
-/4 = :
Skysong Company estimates its bad debt expense to be 7% of gross accounts receivable. Determine its bad debt expense for 2025.
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X Company: Income Statements for the Years Ending December 31 (Millions of Dollars, Except
for Per Share Data)
2018
2019
Net
Sales
4000
4250
Operating Costs except depreciation
and amortization
3750
3900
Depreciation and amortization
100
90
Total operating costs
Operating income, or earnings before interest
and taxes
3850
3990
150
260
Less interest
50
60
Earnings before taxes
100
200
Taxes (25%)
25
50
Net Income
75
150
Total Dividends
25
25
Additional to retained earning
50
125
Calculate
Common Stock Price
25
25
Earnings Per Share
Dividend Per…
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Question 23 of 25
You have the following information for Sheridan Inc. for the month ended June 30, 2022. Sheridan uses a periodic inventory system.
Unit Cost or
Date
Description
Quantity
Selling Price
June
Beginning inventory
40
$34
June
4.
Purchase
135
37
June
10
Sale
110
64
June
11
Sale return
15
64
June
18
Purchase
55
40
June
18
Purchase return
10
40
June
25
Sale
65
70
June
28
Purchase
35
44
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Exercises 18-41 (Algo) Allocation of Central Costs; Profit Centers [LO 18-3]
Woodland Hotels Incorporated operates four resorts in the heavily wooded areas of northern California. The resorts are named after
the predominant trees at the resort: Pine Valley, Oak Glen, Mimosa, and Birch Glen. Woodland allocates its central office costs to each
of the four resorts according to the annual revenue the resort generates. For the current year, the central office costs (000s omitted)
were as follows:
Front office personnel (desk, clerks, etc.)
Administrative and executive salaries
Interest on resort purchase
Advertising
Housekeeping
Depreciation on reservations computer
Room maintenance
Carpet-cleaning contract
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$ 12,100
5,700
4,700
600
3,700
80
1,210
50
570
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Oc is determined at the end of the period.
O d. isameasure used to assign conversion costs to products and services
O e isameasure used to assign prime costs to products and services
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A Company uses job order costing and has chosen direct labor hours to allocate its manufacturing overhead. The company estimates
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and processing of fresh salmon to manufacture fish cakes for the retail industry across the country.
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Rafner Manufacturing has the following budgeted data for its two production departments.
Budgeted Data
Overhead cost
Direct labor hours.
Machine hours
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Assembly
Finishing
$ 1,200,000
$ 800,000
12,000 direct labor hours
4,000 machine hours
20,000 direct labor hours
16,000 machine hours
Allocate overhead to a job that uses 80 direct labor hours in the Assembly department and uses 30 machine hours in th
Finishing department.
Department
Assembly
2
3
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4
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960
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Overhead Allocated
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XYZ Co. has provided the following data for the month of June. There were no beginning inventories; consequently, the direct
.materials, direct labor, and manufacturing overhead applied listed below are all for the current month
Work In
Cost of Goods Sold
Finished Goods
Process
61,880
OMR 8,450 OMR
3,440 OMR
Direct materials
119,000
OMR 16,250 OMR
6,160 OMR
Direct labor
Manufacturing
overhead applied
45,000
OMR 6,050 OMR
3,300 OMR
Manufacturing overhead for the month was underapplied by OMR 7,000
The company allocates any underapplied or overapplied manufacturing overhead among work in process, finished goods, and cost of
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- nial login - Search X C Home-my.centennialcollege.ca X D2 Chapter 4 Lab Assignment - 23W X https://education.wiley.com/was/ui/v2/assessment-player/index.html?launchid=04b006d1-1c34-41d2-89b2-ce00ad6b 4 Lab Assignment (001 22F) Question 6 of 7 View Policies Current Attempt in Progress Selected financial information is available for Blossom Co. Current assets Current liabilities (a) Year 1 Year 1 $ $83,210 53,000 Year 2 $141,680 Working capital 88,000 Year 3 Calculate the working capital for Blossom Co. for the three years. $188,410 83,000 NWP Assessmarrow_forwardEdit View History Bookmarks People Tab Window Help N Academic Tools :: Northern Virgi X 63% Mon 12:07 PM weCS Virginia Community College Syst X N CHAPTER 08 HW NOVA learn.vccs.edu/courses/240149/assignments/4704240?module_item_id=17254910 https://checkout.wileyplus.com/ X des View Policies rse Evaluations Current Attempt in Progress A Policies Cullumber Co. has the following transactions related to notes receivable during the last 2 months of the year. The company does not make entries to accrue interest except at December 31. r.com: 24/7 On- Tutoring Nov. 1 Loaned $53,400 cash to C. Bohr on a 12-month, 9% note. ary Resources Dec. 11 Sold goods to K. R. Pine, Inc., receiving a $5,400, 90-day, 8% note. 16 Received a $9,600, 180-day, 8% note to settle an open account from A. Murdock. 31 Accrued interest revenue on all notes receivable. Journalize the transactions for Cullumber Co. (Omit cost of goods sold entries.) (Credit account titles are automatically indented when amount is entered.…arrow_forwardCollege Connect Link - ACC-102-80 - Ac O Question 9 - CHAPTER 23 EXERC X M MHE Reader ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.cc R 23 EXERCISES Saved QS 23-23 Sustainability and standard overhead rate LO P4 HH Co. uses corrugated cardboard to ship its product to customers. Currently, the company's returns department incurs annual overhead costs of $230,000 and forecasts 5,000 returns per year. Management believes it has found a better way to package its products. As a result, the company expects to reduce the number of shipments that are returned due to damage by 6%. In addition, the initiative is expected to reduce the department's annual overhead by $18,000. Compute the returns department's standard overhead rate per return (a) before the sustainability improvement and (b) after the sustainability improvement. (Round your answers to 2 decimal places.) Before Sustainability Improvement After…arrow_forward
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- Bookmarks Promes Prince Caspian - Chapter Sumi X West Chester University: Finan X D2L Quizzes-2022 Spring-ACC20 x Accountin X quizzing/user/attempt/quiz_start_frame_auto.d2l?ou=3269344&isprv=&drc=0&qi=2006539&cfql=0&dnb=0&fromQB=0 WWest Chester Uni... Vintage Cameral iz #4 (30 m/c, 1 hour allowed) Time Left:0:25:52 Emaan Jafri: Attempt 1 4) Listen ▶ Admire County Bank agrees to lend Givens Brick Company $600,000 on January 1. Givens Brick Company signs a $600,000, 8%, 9-month note. What is the adjusting entry required if Givens Brick Company prepares financial statements on June 30? Interest Expense a) 24,000 Cash 24,000 b) Interest Expense 24,000 24,000 Oc) Interest Payable 24,000 Cash 24,000 d) Interest Payable 24,000 24,000 A O 80 F3 F4 Interest Payable Interest Expense 2 % C F5arrow_forwardI need help soon as possiblearrow_forwardF myCampus Portal Login - for Stu X B 09 Operational and Legal Consid x E (24,513 unread) - sharmarohit81 b My Questions | bartleby A fleming.desire2learn.com/d21/le/content/130754/viewContent/1518900/View?ou=130754 Table of Contents > Week 9: Operational and legal Considerations > Lecture Notes > 09 Operational and Legal Considerations 09 Operational and Legal Considerations - > Calculating Capacity • How many machines do you need? • You expect your sales to be 3,000,000 granola bars (20g each) • How large is your plant? per month • How many workers do you need? The machine: • How much is the investment? Capacity: 100 kgs per hour • What are the operating costs? Requires 2 people to operate it Takes 8 ft x 40 ft space • Cost per machine $15,000 Energy and maintenance: $5 per hour • Cost of material and packaging: $0.12 per bar I Group Project.xlsx Show all 12:35 AM O Type here to search A O 4) ENG 2020-12-09arrow_forwardarrow_back_iosSEE MORE QUESTIONSarrow_forward_ios
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