A03 Principles of Accounting II
Part A (5 points each ce a practicable whole of 15 points)
The coercionthcoming advice is absorbed ce Tripp Company, which uses the separate arrangement.
Net allowance $20,000
Depreciation expense 3,000
Increase in accounts receivable 2,000
Payment of dividends 2,000
Proceeds from sale of equipment 6,000
Increase in accounts payable 4,000
Decrease in inventory 3,000
From the advice granted, response the coercionthcoming questions:
(1) The capital career from unoccupied activities is ________.
(2) The capital career from investing activities is ________.
(3) The capital career from financing activities is ________.
Part B (5 points each ce a practicable whole of 25 points)
Selected basis ce Stick’s Design are absorbed as of December 31, Year 1 and Year 2 (rounded to the undeviating hundredth).
Year 2 Year 1
Net Credit Sales $25,000 $30,000
Cost of Chattels Sold 16,000 18,000
Net Allowance 2,000 2,800
Cash 5,000 900
Accounts Receivable 3,000 2,000
Inventory 2,000 3,600
Current Liabilities 6,000 5,000
Compute the coercionthcoming:
(1) Current kinsman ce Year 2.
(2) Acid-test kinsman ce Year 2.
(3) Accounts receivable turnover ce Year 2.
(4) Average collation continuance ce Year 2.
(5) Inventory turnover ce Year 2.
Part C (30 points)
Furnish an allowance proposition showing departmental subsidy boundary fixed on the coercionthcoming:
Dept. X Dept. Y Rent Expense
Space (balance feet) 17,500 35,000
Net Sales $60,000 $40,000
Cost of Chattels Sold 18,000 16,000
Rent Expense (allocated fixed on balance feet) $2,700
Part D (5 points each ce a practicable whole of 30 points)
From the coercionthcoming transactions, furnish the divert public journal entries ce the month of April.
(1) Raw materials costing $60,000 were issued from the storeroom.
(2) Trodden drudge of $53,000 was full to origination.
(3) Separate drudge costs of $17,000 were incurred.
(4) Overhead was applied at the rate of 40% of trodden drudge dollars.
(5) Completed products costing $42,000 were communicated to refined chattels.
(6) Products costing $32,000 were sold.
We value our customers and so we ensure that what we do is 100% original..
With us you are guaranteed of quality work done by our qualified experts.Your information and everything that you do with us is kept completely confidential.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
The Product ordered is guaranteed to be original. Orders are checked by the most advanced anti-plagiarism software in the market to assure that the Product is 100% original. The Company has a zero tolerance policy for plagiarism.Read more
The Free Revision policy is a courtesy service that the Company provides to help ensure Customer’s total satisfaction with the completed Order. To receive free revision the Company requires that the Customer provide the request within fourteen (14) days from the first completion date and within a period of thirty (30) days for dissertations.Read more
The Company is committed to protect the privacy of the Customer and it will never resell or share any of Customer’s personal information, including credit card data, with any third party. All the online transactions are processed through the secure and reliable online payment systems.Read more
By placing an order with us, you agree to the service we provide. We will endear to do all that it takes to deliver a comprehensive paper as per your requirements. We also count on your cooperation to ensure that we deliver on this mandate.Read more