Journalize the given transactions in the books of Company MM.

Question

eBook Operating income for profit center Show Me How The centralized Data Analytics Department of Drewlink Company has expenses of $340,000. The department has provided a total of 8,000 hours of service for the period. The Retail Division has used 2,000 hours of data analytics service during the period, and the Commercial Division has used 6,000 hours of data analytics service. Additional data for the two divisions is following below: Retail Division Commercial Division Sales Cost of goods sold $2,550,000 1,450,000 Selling expenses 230,000 $1,700,000 750,000 170,000 Determine the divisional operating income for the Retail Division and the Commercial Division. Do not round interim calculations. Drewlink Company Divisional Operating income Line Item Description Sales Cost of goods sold Selling expenses Support department allocations Operating income Retail Division Commercial Division 2,550,000 1,450,000 $ 1,700,000 750,000 10000 785,000 525,000 Check My Work 1 more Check My Work uses…

Answer 1

Question

Chapter 21, Problem 10SPA

To determine

Journalize the given transactions in the books of Company MM.

Expert Solution & Answer

Trending nowThis is a popular solution!

See solution

Check out sample textbook solution

Students have asked these similar questions

eBook Operating income for profit center Show Me How The centralized Data Analytics Department of Drewlink Company has expenses of $340,000. The department has provided a total of 8,000 hours of service for the period. The Retail Division has used 2,000 hours of data analytics service during the period, and the Commercial Division has used 6,000 hours of data analytics service. Additional data for the two divisions is following below: Retail Division Commercial Division Sales Cost of goods sold $2,550,000 1,450,000 Selling expenses 230,000 $1,700,000 750,000 170,000 Determine the divisional operating income for the Retail Division and the Commercial Division. Do not round interim calculations. Drewlink Company Divisional Operating income Line Item Description Sales Cost of goods sold Selling expenses Support department allocations Operating income Retail Division Commercial Division 2,550,000 1,450,000 $ 1,700,000 750,000 10000 785,000 525,000 Check My Work 1 more Check My Work uses…

14. A company receives a bill for electricity to be paid next month. What is the journal entry today?A. Debit Utilities Expense; Credit Accounts PayableB. Debit Cash; Credit Utilities ExpenseC. Debit Accounts Payable; Credit Utilities ExpenseD. No entry until payment is made

What type of account is accumulated depreciation?A. AssetB. Contra-assetC. ExpenseD. Liability help!!