Chapter 9, Problem 53P

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I am looking for the correct answer to this general accounting problem using valid accounting standards.

I need help with this general accounting question using standard accounting techniques.

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Magna Innovations has assets of $750,000 and liabilities of $280,000. What is the amount of Magna's equity? Accurate answer

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At the beginning of the month, the accounts receivable subsidiary ledger showed balances for Acme Corporation of $7,500 and Beacon Enterprises of $9,200. During the month, credit sales were made to Acme for $8,400, Beacon for $6,300, and Coastal Industries for $10,500. Cash was collected on account from Beacon for $13,700 and Coastal for $4,200. At the end of the month, the control account Accounts Receivable in the general ledger should have a balance of: A. $19,800 B. $15,300 C. $24,000 D. $12,500

Dodge Industries has the following data: direct labor $185,000, direct materials used $210,000, total manufacturing overhead $195,000, and beginning work in process $45,000. Compute total manufacturing costs and total cost of work in process.

What is Kellogg's net income after these transactions?