ACCOUNTING PRINCIPLES V.1 W/ WILEY PLU
ACCOUNTING PRINCIPLES V.1 W/ WILEY PLU
12th Edition
ISBN: 9781119157021
Author: Weygandt
Publisher: WILEY C
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Chapter 8, Problem 8.3AP

(a)

To determine

Bank reconciliation: Bank reconciliation can be defined as the process wherein the balances in the accounting records of a firm are matched for a cash account to the corresponding information on a bank statement. Its primary objective is to determine the differences between the balances of the two.

To prepare: The bank reconciliation at May 31, 2017.

(b)

To determine

To prepare: The adjusting entries for R. Company at May 31, 2017.

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Carry Manufacturing Inc. had a variable costing operating income of $95,200 in 2018. Ending inventory decreased during 2018 from 50,000 units to 47,000 units. During both 2017 and 2018, fixed manufacturing overhead was $900,000, and 120,000 units were produced. Determine the absorption costing operating income for 2018.
If revenue = $135 and variable cost revenue, then contribution margin = 45% of = $79.25. a. True. b. False.

Chapter 8 Solutions

ACCOUNTING PRINCIPLES V.1 W/ WILEY PLU

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