Financial Accounting Plus MyLab Accounting with Pearson eText -- Access Card Package (12th Edition)
12th Edition
ISBN: 9780134833132
Author: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.
Publisher: PEARSON
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Chapter 7, Problem 7.84BP
1.
To determine
To Draw: The T- Accounts for Property & Equipment and
2.
To determine
The book value of Property & Equipment sold during the year 2018 and the difference between sale price and the book value.
3.
To determine
To Prepare: The
4.
To determine
To Draw: The T- Accounts for Property & Equipment, net.
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Use the following information to answer questions. (Algo)
[The following information applies to the questions displayed below.]
Information on Kwon Manufacturing's activities for its first month of operations follows:
a. Purchased $100,800 of raw materials on credit.
b. Materials requisitions show the following materials used for the month.
Job 201
Job 202
Total direct materials
Indirect materials
Total materials used
$ 49,000
24,400
73,400
9,420
$ 82,820
c. Time tickets show the following labor used for the month.
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Job 201
$ 40,000
Job 202
13,400
Total direct labor
53,400
25,000
$ 78,400
Indirect labor
Total labor used
d. Applied overhead to Job 201 and to Job 202 using a predetermined overhead rate of 80% of direct materials cost.
e. Transferred Job 201 to Finished Goods Inventory.
f. Sold Job 201 for $166,160 on credit.
g. Incurred the following actual other…
quesrion 2
Anti-Pandemic Pharma Co. Ltd. reports the following information in
its income statement:
Sales = $5,250,000;
Costs = $2, 173,000;
Other expenses = $187,400;
Depreciation expense = $79,000;
Interest expense= $53,555;
Taxes $76,000;
Dividends $69,000.
$136,700 worth of new shares were also issued during the year and
long-term debt worth $65,300 was redeemed.
a) Compute the cash flow from assets
b) Compute the net change in working capital
(325 marks)
Chapter 7 Solutions
Financial Accounting Plus MyLab Accounting with Pearson eText -- Access Card Package (12th Edition)
Ch. 7 - Smatter Corporation purchased land for a new...Ch. 7 - Carlos Company purchased a building and land for...Ch. 7 - Whitmore Corporation purchased a new delivery van...Ch. 7 - When a company expenses the cost of maintenance...Ch. 7 - Prob. 5QCCh. 7 - Planter Company purchased a delivery van for...Ch. 7 - Bixby Corporation purchased a forklift for 40,000...Ch. 7 - On the first day of its fiscal year, Spearhead...Ch. 7 - The depreciation method that does not initially...Ch. 7 - Sokolsky Excavating purchased a used dump truck...
Ch. 7 - Barron Fuel purchased an oil well for 200,000. The...Ch. 7 - Prob. 12QCCh. 7 - Prob. 13QCCh. 7 - Prob. 14QCCh. 7 - Prob. 15QCCh. 7 - Prob. 16QCCh. 7 - Prob. 7.1ECCh. 7 - LO 1 (Learning Objective 1: Measure the cost and...Ch. 7 - LO 1 (Learning Objective 1: Measure and record the...Ch. 7 - Prob. 7.3SCh. 7 - Prob. 7.4SCh. 7 - LO 3 (Learning Objective 3: Compute depreciation...Ch. 7 - Prob. 7.6SCh. 7 - LO 3 (Learning Objective 3: Compute depreciation...Ch. 7 - LO3 (Learning Objective 3: Compute depreciation...Ch. 7 - LO 3 (Learning Objective 3: Compute depreciation...Ch. 7 - LO 3 (Learning Objective 3: Compute depreciation...Ch. 7 - LO 3 (Learning Objective 3: Compute depreciation...Ch. 7 - Prob. 7.12SCh. 7 - Prob. 7.13SCh. 7 - Prob. 7.14SCh. 7 - Prob. 7.15SCh. 7 - Prob. 7.16SCh. 7 - Prob. 7.17SCh. 7 - LO 6 (Learning Objective 6: Explain the effect of...Ch. 7 - Prob. 7.19SCh. 7 - LO 7 (Learning Objective 7: Calculate return on...Ch. 7 - Prob. 7.21SCh. 7 - Prob. 7.22AECh. 7 - Prob. 7.23AECh. 7 - LO 2 (Learning Objective 2: Distinguish capital...Ch. 7 - Prob. 7.25AECh. 7 - LO 3 (Learning Objective 3: Determine depreciation...Ch. 7 - LO 1,3,8 E7-27A, (Learning Objectives 1, 3, 8:...Ch. 7 - LO 3 (Learning Objective 3: Change a plant assets...Ch. 7 - LO 3, 4 (Learning Objectives 3, 4: Compute...Ch. 7 - Prob. 7.30AECh. 7 - LO 1, 3, 4 (Learning Objectives 1, 3, 4: Measure a...Ch. 7 - Prob. 7.32AECh. 7 - Prob. 7.33AECh. 7 - Prob. 7.34AECh. 7 - LO 7 (Learning Objective 7: Calculate return on...Ch. 7 - Prob. 7.36AECh. 7 - Prob. 7.37BECh. 7 - Prob. 7.38BECh. 7 - Prob. 7.39BECh. 7 - Prob. 7.40BECh. 7 - Prob. 7.41BECh. 7 - Prob. 7.42BECh. 7 - LO 3 (Learning Objective 3: Change a plant assets...Ch. 7 - LO 3.4 (Learning Objectives 3.4: Compute...Ch. 7 - Prob. 7.45BECh. 7 - Prob. 7.46BECh. 7 - Prob. 7.47BECh. 7 - Prob. 7.48BECh. 7 - Prob. 7.49BECh. 7 - Prob. 7.50BECh. 7 - Prob. 7.51BECh. 7 - Prob. 7.52QCh. 7 - Prob. 7.53QCh. 7 - Prob. 7.54QCh. 7 - Prob. 7.55QCh. 7 - Prob. 7.56QCh. 7 - Madison Corporation acquired a machine for 27,000...Ch. 7 - Prob. 7.58QCh. 7 - Prob. 7.59QCh. 7 - Prob. 7.60QCh. 7 - Prob. 7.61QCh. 7 - Prob. 7.62QCh. 7 - Prob. 7.63QCh. 7 - Prob. 7.64QCh. 7 - Prob. 7.65QCh. 7 - Prob. 7.66QCh. 7 - Prob. 7.67APCh. 7 - (Learning Objectives 1, 3: Measure and account for...Ch. 7 - (Learning Objectives 1, 3, 4: Measure and account...Ch. 7 - Prob. 7.70APCh. 7 - (Learning Objectives 1, 3, 4, 6, 8: An21yze plant...Ch. 7 - Prob. 7.72APCh. 7 - (Learning Objectives 1, 4, 8: Analyze the effect...Ch. 7 - Prob. 7.74APCh. 7 - (Learning Objectives 4, 8: Analyze the effect of a...Ch. 7 - Prob. 7.76BPCh. 7 - Prob. 7.77BPCh. 7 - Prob. 7.78BPCh. 7 - Prob. 7.79BPCh. 7 - Prob. 7.80BPCh. 7 - Prob. 7.81BPCh. 7 - (Learning Objectives 1, 4, 8: Analyze the effect...Ch. 7 - Prob. 7.83BPCh. 7 - Prob. 7.84BPCh. 7 - LO 3 (Learning Objective 3: Determine the effect...Ch. 7 - Prob. 7.86CEPCh. 7 - Prob. 7.87CEPCh. 7 - Prob. 7.88SCCh. 7 - Prob. 7.89DCCh. 7 - Prob. 7.90DCCh. 7 - Prob. 7.91EICCh. 7 - Prob. 1FFCh. 7 - Focus on Analysis Under Armour, Inc. LO 1, 3, 5,...
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