cfnewton09

29.10.2019 • 

Business

The following data were taken from the balance sheet accounts of windsor corporation on december 31, 2019. current assets $512,000 debt investments (trading) 577,000 common stock (par value $10) 471,000 paid-in capital in excess of par 154,000 retained earnings 890,000 prepare the required journal entries for the following unrelated items. (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 0 for the amounts.) (a) a 5% stock dividend is (1) declared and (2) distributed at a time when the market price per share is $42. (b) the par value of the common stock is reduced to $2 with a 5-for-1 stock split. (c) a dividend is declared january 5, 2020, and paid january 25, 2020, in bonds held as an investment. the bonds have a book value of $98,000 and a fair value of $130,000.

Ответ:

eloqit3338

18.10.2020

Business

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The journal entry to record the factory wages of $25,000 incurred in the processing department is given below.

Debit   Processing Department (WIP Asset)      $ 25,000

Credit  Factory Wage (Liability)                           $ 25,000

The journal entry to record the factory wages of $15,000 incurred in the production department.

Debit   Production Department (WIP Asset)      $ 15,000

Credit  Factory Wage (Liability)                           $ 15,000

Please note that these work in process are asset accounts and the cost of inventory is expenses as goods are sold.

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