Question 4 SavedW Chapter 014enuanT ATN ISn18,350 Consulting revenue4,480Accounts receivableOffice suppliesOffice equipment18,3504,8208,370Rent expenseSalaries expense19,36046,040 Telephone expense9,74085,360Land910Accounts payableMiscellaneous expenses720-3 of 3Common stockUse the above information to prepare a December 31 balance sheet for Ernst Consulting.ERNST CONSULTINGBalance Sheetpokntntnces Question 4 - HW Chapter 01Dashboardmheducation.com/ext/map/index.html?_con=con&external_browser=D0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252E#lac- Class Financial Ac...My AppsDigital Resources...HG Weight Loss Hom..UO United OPT - Top..TogetherallThe Top 15 Comp..レ The01 iSavedHelpRequired information[The following information applies to the questions displayed below.]On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $85,360 in assets inexchange for its common stock to launch the business. On December 31, the company's records show the following itemsand amounts.$ 7,01018,350 Consulting revenue4,48019,36046,040 Telephone expense9,74085,360$ 3,39018,3504,8208,370CashCash dividendsAccounts receivableOffice suppliesOffice equipmentRent expenseSalaries expenseLand910Miscellaneous expenses720Accounts payableCommon stockIse the above information to prepare a December 31 balance sheet for Ernst Consulting.ERNST CONSULTINGBalance Sheet

Cadii enuanTATn ISD 18,350 Consulting revenue 4,480 19,360 Salaries expense 46,040 Telephone expense 9,740 85,360 Accounts receivable 18,350 4,820 Office supplies Office equipment Rent expense 8,370 Land 910 Miscellaneous expenses Accounts payable Common stock 720 Use the above information to prepare a December 31 balance sheet for Ernst Consulting. ERNST CONSULTING Balance Sheet

Cadii enuanTATn ISD 18,350 Consulting revenue 4,480 19,360 Salaries expense 46,040 Telephone expense 9,740 85,360 Accounts receivable 18,350 4,820 Office supplies Office equipment Rent expense 8,370 Land 910 Miscellaneous expenses Accounts payable Common stock 720 Use the above information to prepare a December 31 balance sheet for Ernst Consulting. ERNST CONSULTING Balance Sheet

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Joint processing costs up to the split-off point total $75,000 per quarter. The company allocates these costs to the joint products on the basis of their relative sales value at the split-off point. Unit selling prices and total output at the split-off point are as follows: Product Selling Price 5 per pound Quarterly Output 10,000 pounds A $ B $ 7 per pound 22,000 pounds C $ 11 per gallon 5,000 gallons Each product can be processed further after the split-off point. Additional processing requires no special facilities. The additional processing costs (per quarter) and unit selling prices after further processing are given below: Additional Product Processing Costs Selling Price A $ 53,000 $ 8 per pound B $ 38,000 $ 13 per pound с $ 18,000 $ 20 per gallon Which products should be processed further?
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WP Corporation produces products X, Y, and Z from a single raw material input in a joint production process. Budgeted data for the next month is as follows: A) B) Product X yes yes no no Units produced Per unit sales value at split-off Added processing costs per unit Per unit sales value if processed further The cost of the joint raw material input is $90,000. Which of the products should be processed beyond the split-off point? Product Y yes no yes yes Product X 2,700 $ 25.00 $ 2.00 $31.00 Product Z no yes no yes Product Y 3,200 $ 28.00 $ 4.00 $31.00 Product Z 4,200 $ 27.00 $4.00 $36.00
hrl.3 answer must be in proper format or i will give down vote
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