To record: Adjusting entry to accrue monthly interest expense at October 31, at November 30, and at December 31.

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Answer 1

Question

Chapter 3, Problem 3.10S

1.

To determine

To record: Adjusting entry to accrue monthly interest expense at October 31, at November 30, and at December 31.

2.

To determine

To post: All the three entries to the interest payable account.

3.

To determine

To record: The payment of three months interest on January 2.

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Ice Cream Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Beginning work in process inventory: Units in beginning work in process inventory Materials costs Conversion costs Percent complete with respect to materials 1,200 $ 13,300 $ 5,400 75% Percent complete with respect to conversion 20% Units started into production during the month 9,900 Units completed and transferred to the next department 8,800 Materials costs added during the month Conversion costs added during the month Ending work in process inventory: Units in ending work in process inventory $ 1,72,40 $ 2,42,40 Percent complete with respect to materials 2,300 90% 30% Percent complete with respect to conversion What is the cost per equivalent unit for materials for the month in the first processing department?

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Answer 2

Question

Chapter 3, Problem 3.10S

1.

To determine

To record: Adjusting entry to accrue monthly interest expense at October 31, at November 30, and at December 31.

2.

To determine

To post: All the three entries to the interest payable account.

3.

To determine

To record: The payment of three months interest on January 2.

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Answer 3

Question

Chapter 3, Problem 3.10S

1.

To determine

To record: Adjusting entry to accrue monthly interest expense at October 31, at November 30, and at December 31.

2.

To determine

To post: All the three entries to the interest payable account.

3.

To determine

To record: The payment of three months interest on January 2.

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Answer 4

Question

Chapter 3, Problem 3.10S

1.

To determine

To record: Adjusting entry to accrue monthly interest expense at October 31, at November 30, and at December 31.

2.

To determine

To post: All the three entries to the interest payable account.

3.

To determine

To record: The payment of three months interest on January 2.

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Answer 5

Chapter 3, Problem 3.10S

1.

To determine

To record: Adjusting entry to accrue monthly interest expense at October 31, at November 30, and at December 31.

2.

To determine

To post: All the three entries to the interest payable account.

3.

To determine

To record: The payment of three months interest on January 2.

Answer 6

Chapter 3, Problem 3.10S

1.

To determine

To record: Adjusting entry to accrue monthly interest expense at October 31, at November 30, and at December 31.

Answer 7

Chapter 3, Problem 3.10S

1.

To determine

To record: Adjusting entry to accrue monthly interest expense at October 31, at November 30, and at December 31.

Answer 8

2.

To determine

To post: All the three entries to the interest payable account.

Answer 9

2.

To determine

To post: All the three entries to the interest payable account.

Answer 10

3.

To determine

To record: The payment of three months interest on January 2.

Answer 11

3.

To determine

To record: The payment of three months interest on January 2.

Answer 12

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Answer 13

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Answer 14

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Answer 15

Ch. 3 - Prob. 1QC Ch. 3 - Prob. 2QC Ch. 3 - Prob. 3QC Ch. 3 - Prob. 4QC Ch. 3 - Prob. 5QC Ch. 3 - Prob. 6QC Ch. 3 - Prob. 7QC Ch. 3 - Prob. 8QC Ch. 3 - Prob. 9QC Ch. 3 - Prob. 10QC

To record: Adjusting entry to accrue monthly interest expense at October 31, at November 30, and at December 31.

To record: Adjusting entry to accrue monthly interest expense at October 31, at November 30, and at December 31.

To post: All the three entries to the interest payable account.

To record: The payment of three months interest on January 2.

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Chapter 3 Solutions