College accounting, chapters 1-9
College accounting, chapters 1-9
23rd Edition
ISBN: 9781337794787
Author: HEINTZ, James A.
Publisher: Cengage Learning,
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Chapter 22, Problem 3SEA

(a)

To determine

Journalize the entry for the issuance of bonds in the books of Company BHC.

(b)

To determine

Journalize the entry for the semiannual interest payment and discount amortization in the books of Company M.

(c)

To determine

Journalize the entry for the year-end adjustment in the books of Company BHC.

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The following data relating to direct materials cost for October of the current year are taken from the records of Good Clean Fun Inc., a manufacturer of organic toys: Quantity of direct materials used 3,400 lbs. Actual unit price of direct materials $5.1 per lb. Units of finished product manufactured 820 units Standard direct materials per unit of finished product 4 lbs. Direct materials quantity variance-unfavorable $ 636 Direct materials price variance-favorable $ 680 Determine the standard direct materials cost per unit of the finished product, assuming that there was no inventory of work in process at either the beginning or the end of the month.
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Chapter 22 Solutions

College accounting, chapters 1-9

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