Chapter 10, Problem 2ISTQ

Barbara Jones is preparing the 2022 budget for one of Current Designs' rotomoulded kayaks. Extensive meetings with members of the sales department and executive team have resulted in the following unit sales projections for 2022. Quarter 1 2,800 kayaks Quarter 2 3,600 kayaks Quarter 3 2,400 kayaks Quarter 4 2,400 kayaks Current Designs' policy is to have finished goods ending inventory in a quarter equal to 25% of the next quarter's anticipated sales. Preliminary sales projections for 2023 are 1,100 units for the first quarter and 3,600 units for the second quarter. Ending inventory of finished goods at December 31, 2021, will be 700 rotomoulded kayaks. Production of each kayak requires 56 kg of polyethylene powder and a finishing kit (rope, seat, hardware, etc). Company policy is that the ending inventory of polyethylene powder should be 20% of the amount needed for production in the next quarter. Assume that the ending inventory of polyethylene powder on December 31, 2021, is 20,000…

put answer to zero decimal place and place answer in descending order.

answer in descending order and this is for 2023 journal entries.

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Tala Inc uses revaluation accounting for its Equipment.   July 7, 2023:  Purchased Equipment for $250 000 on account. Estimated Useful Life:  10 years Residual Value:  $0 Depreciation Method:  Straight-line (nearest full month) Frequency of Revaluation:  Annually  Valuation Data July 7, 2023:                $250 000 December 31, 2023:   $234 000 December 31, 2024:   $220 000

Blue Construction Co. successfully tendered for a 3-year contract to erect some warehouse facilities in a new industrial zone. The following information has been provided. Contract price - $25 000 000 2022 2023 2024 Cost during year $ 4000 000 $8 000 000 $8 100 000 Estimated cost to complete 16 000 000 8 050 000 Progress billings to date 4 500 000 11 500 000 25 000 000 Cash collected to date 4 200 000 11 000 000 25 000 000 2022 i. Complete the following Workings Schedule. Cost to date Estimated cost to complete Total estimated cost 2023 2024 $ 6A +A +A

Answer the below in descending order and to zero decimal places. Thank you

Part 1  A. On September 22, 2023, Phantom Inc. purchased machinery for $190,000. Residual value was estimated to be $10,000. The machinery will be depreciated over eight years using the sum-of-the-years’-digits method. If depreciation is computed on the basis of the nearest full month, how much depreciation expense for 2024 on this machinery should Marvel record?  $ B. Bower Co. purchased equipment in January of 2014 for $90,000. The equipment was being depreciated on the straight-line method over an estimated useful life of 20 years, with no residual value. At the beginning of 2024, when the equipment had been in use for 10 years, the company paid $15,000 to overhaul the equipment. As a result of this improvement, the company estimated that the useful life of the equipment would be extended an additional 5 years. What should be the depreciation expense recorded for this equipment in 2024? $   C.    In January, 2024, Sparkle Corporation purchased a mineral mine for $3,400,000 with…