College Accounting: A Career Approach (with Quickbooks Accountant 2015 Cd-rom)
12th Edition
ISBN: 9781305863385
Author: Cathy J. Scott
Publisher: Cengage Learning
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Chapter 4, Problem 4DQ
To determine
Indicate the column of worksheet–IS (income statement) or BS (
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Give me answer the general accounting question
Please solve these financial accounting question
Sunland Company manufactures outdoor fireplaces. For the first 9 months of 2020, the company reported the following
operating results while operating at 80% of plant capacity:
Sales (79,900 units)
$7,111,100
Cost of goods sold
5,093,625
Gross profit
2,017,475
Operating expenses
799,000
Net income
$1,218,475
Cost of goods sold was 80% variable and 20% fixed; operating expenses were 70% variable and 30% fixed.
In October; Sunland Company receives a special order for 4,200 fireplaces at $61 each from Langston's Landscape Company.
Acceptance of the order would result in an additional $7,600 of shipping costs but no increase in fixed operating expenses.
(a)
Prepare an incremental analysis for the special order. (Enter loss using either a negative sign preceding the number e.g. -2,945
or parentheses e.g. (2,945).)
Revenues
$
+A
Costs
Cost of Goods Sold
Operating Expenses
Shipping Expenses
Net Income
Reject order
Accept order
Net Income
Increase (Decrease)
$
$
S
SA
SA
Chapter 4 Solutions
College Accounting: A Career Approach (with Quickbooks Accountant 2015 Cd-rom)
Ch. 4 - The __________ represents the sequence of steps in...Ch. 4 - The __________ is a working paper used by...Ch. 4 - On the work sheet, assets are recorded in which of...Ch. 4 - Rainy Day Services had 430 of supplies reported on...Ch. 4 - On the work sheet, Accumulated Depreciation,...Ch. 4 - The __________ requires that expenses be matched...Ch. 4 - Accumulated Depreciation, Equipment is reported a....Ch. 4 - What is the purpose of a work sheet?Ch. 4 - What is the purpose of adjusting entries?Ch. 4 - Prob. 3DQ
Ch. 4 - Prob. 4DQCh. 4 - Prob. 5DQCh. 4 - Define depreciation as it relates to a van you...Ch. 4 - Prob. 7DQCh. 4 - Why is it necessary to journalize and post...Ch. 4 - 1. List the following classifications of accounts...Ch. 4 - Classify each of the accounts listed below as...Ch. 4 - Place a check mark next to any account(s)...Ch. 4 - A partial work sheet for Marges Place is shown...Ch. 4 - Complete the work sheet for Ramey Company, dated...Ch. 4 - Journalize the adjusting entries from the partial...Ch. 4 - Journalize the adjustments for Newkirk Company as...Ch. 4 - Journalize the following adjusting entries that...Ch. 4 - Determine on which financial statement each...Ch. 4 - Prob. 1PACh. 4 - The trial balance of Clayton Cleaners for the...Ch. 4 - The trial balance for Game Time on July 31 is as...Ch. 4 - The trial balance for Benner Hair Salon on March...Ch. 4 - The trial balance for Masons Insurance Agency as...Ch. 4 - The trial balance of The New Decors for the month...Ch. 4 - The trial balance for Harris Pitch and Putt on...Ch. 4 - The trial balance for Wilson Financial Services on...Ch. 4 - Prob. 1ACh. 4 - You are the bookkeeper for a small but thriving...Ch. 4 - Prob. 3ACh. 4 - Your client is preparing financial statements to...Ch. 4 - Prob. 1CP
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- Please need answer the general accounting questionarrow_forwardNeed help with this accounting questionarrow_forwardPrepare journal entries to record these transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amount in the relevant debit OR credit box. Entering zero in ALL boxes will result in the question being marked incorrect.) (a) Sunland Company retires its delivery equipment, which cost $52,980. Accumulated depreciation is also $52,980 on this delivery equipment. No salvage value is received. (b) Assume the same information as in part (a), except that accumulated depreciation for the equipment is $37,600 instead of $52,980. No. Account Titles and Explanation (a) Accumulated Depreciation-Equipment Equipment (b) Accumulated Depreciation-Equipment Debit 52980 37600 Loss on Disposal of Plant Assets 15380 Equipment Credit 52980 52980arrow_forward
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Date Account Titles and Explanation July 1, 2025 Cash Notes Payable November 1, 2025 Cash Notes Payable…arrow_forwardProvide answer the following requirements on these general accounting questionarrow_forwardKingbird Corporation is authorized to issue 1,130,000 shares of $1 par value common stock. During 2025, the company has the following stock transactions. Jan. 15 Sept. 5 Issued 791,000 shares of stock at $7 per share. Purchased 22,600 shares of common stock for the treasury at $8 per share. Dec. 6 Declared a $0.50 per share dividend to stockholders of record on December 20, 2025, payable January 3, 2026. Journalize the transactions for Kingbird Corporation. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amount in the relevant debit OR credit box. 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