Calculate the requested costs in the following exercises, The company Alaska, SA, provides you with the following
Question:
Calculate the requested costs in the following exercises,
The company Alaska, SA, provides you with the following balances of your general ledger accounts:
Account No.
Account
Imported
1100
Cash
$ 130,000.00
1110
Accounts receivable
135,000.00
1140
Raw materials warehouse
117,500.00
1141
Production in process
110,900.00
1142
Finished products warehouse
122,000.00
1144
Insurance paid in advance*
12,000.00
1240
Real estate, machinery and equipment
800,000.00
1241
Accumulated depreciation
200,000.00
1242
Production patents
70,000.00
2120
Accounts payable
90,000.00
3100
Capital social
1'000,000.00
3130
Acumulated utilities
207,400.00
* Insurance covers 8 months
Additional Information
I. Raw materials are purchased on credit for $59,000.00
II. Fees are paid for the previous purchase of $750.00
III. Raw materials for $2,500.00 are returned
IV. Credit note is received from the supplier for an error in the price for a total of $800.00
V. The production department requested materials for an amount of $120,000.00, of which $95,000.00 represented direct raw materials and $25,000.00 represented indirect materials.
SAW. The payrolls for the period that were settled amounted to $45,000.00, of which $40,000.00 were direct.
VII. Expenditures for the period for concepts such as electricity, telephone, water, etc. They imported $27,000.00
VIII. No. of month adjustments: Depreciation at 10% per year
Amortization of production patents $560.00
Accrual insurance
IX. The finished production had a value of $200,000.00.
Auditing and Assurance services an integrated approach
ISBN: 978-0132575959
14th Edition
Authors: Alvin a. arens, Randal j. elder, Mark s. Beasley