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No need explanation. Please provide answer ASAP. On September 1, Home Store sells a mower (that costs $120) for $420 cash with a one-year warranty

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No need explanation. Please provide answer ASAP.

On September 1, Home Store sells a mower (that costs $120) for $420 cash with a one-year warranty that covers parts. Warranty expense is estimated at 6% of sales. On January 24 of the following year, the mower is brought in for repairs covered under the warranty requiring $29 in materials taken from the Repair Parts Inventory. Prepare the September 1 entry to record the mower sale (and cost of sale) and the January 24 entry to record the warranty repairs. (Round your answers to 2 decimal places.) Answer is not complete. No Date General Journal Debit Credit 1 Sep 01 Cash 420.00 Sales 420.00 2 Sep 01 25.20 X Cost of goods sold Salaries payable 25.20 X 3 Sep 01 Warranty expense Estimated warranty liability 4 Jan 24 29.00 Estimated warranty liability Repair parts inventory 29.00 Required information [The following information applies to the questions displayed below.) BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $128,400 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to its employee. a Gross Pay through August 31 $ 6,400 2,000 122, 100 Gross Pay for September $ 800 2,100 8,000 b C Assuming situation (a), prepare the employer's September 30 journal entries to record the employer's payroll taxes expense and its related liabilities. Answer is not complete. Complete this question by entering your answers in the tabs below. Payroll Taxes Expense General Journal Compute the payroll taxes expense. (Round your answers to 2 decimal places.) Employer Payroll taxes Tax Rate Tax Amount September earnings subject to tax 800.00 FICA-Social Security 6.20% 49.60 FICA-Medicare 800.00 1.45% 11.60 600.00 0.60% 3.60 600.00 6.20% X 37.20 Total Payroll Taxes Expense 102.00 Required information [The following information applies to the questions displayed below.) BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $128,400 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to its employee. a. b. Gross Pay through August 31 $ 6,400 2,000 122, 120 Gross Pay for September $ 800 2,100 8,000 uming situation (a), prepare the employer's September 30 journal entries to record the employer's payroll taxes expense and its ted liabilities. Answer is not complete. Complete this question by entering your answers in the tabs below. yroll Taxes Expense General Journal epare the employer's September 30 journal entries to record the employer's payroll taxes expense and its related liabilities. ound your answers to 2 decimal places.) Ho Date General Journal Debit Credit Sep 30 82.20 49.60 Payroll taxes expense FICASocial security taxes payable FICA-Medicare taxes payable Federal unemployment taxes payable State unemployment taxes payable 11.60 3.60 17.40 Rodriguez Company pays $405,405 for real estate with land, land improvements, and a building. Land is appraised at $220,500; land improvements are appraised at $73,500; and a building is appraised at $196,000. Required: 1. Allocate the total cost among the three assets. 2. Prepare the journal entry to record the purchase. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Allocate the total cost among the three assets. (Round your "Apportioned Cost" answers to 2 decimal places.) Appraised Value Percent of Total Appraised Value x Total Cost of Acquisition = Apportioned Cost Land $ 220,500 Land improvements Building Totals $ 220,500 0% $ 0.00 Required 1 Required 2 > Enviro Company issues 8%, 10-year bonds with a par value of $180,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 10%, which implies a selling price of 87 12. The straight-line method is used to allocate interest expense. 1. Using the implied selling price of 87 1/2, what are the issuer's cash proceeds from issuance of these bonds? 2. What total amount of bond interest expense will be recognized over the life of these bonds? 3. What is the amount of bond interest expense recorded on the first interest payment date? Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 What total amount of bond interest expense will be recognized over the life of these bonds? Total Bond Interest Expense Over Life of Bonds: Amount repaid: payments of Par value at maturity Total repayments Less amount borrowed (from part 1) Total bond interest expense $ 0 0 Identify which of the following statements are true for the corporate form of organization. (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer.) ? It has many of the same rights as an individual. ? It does not end with the death of an owner. ? The sale of shares from one stockholder to another does not impact operations. An exception is when it changes the makeup of directors. | ? Shareholders are not personally liable for corporate acts. ? Corporations are often subject to fewer regulations than partnerships. ? Stockholders are expected to hire and fire key executives. ? The president and vice presidents choose the board of directors. Required information Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Also, on December 15, Monson sells 15 units for $20 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 10 units @ $ 6.00 cost 20 units @ $12.00 cost 15 units @ $14.00 cost Required: Monson uses a perpetual inventory system. Determine the costs assigned to the December 31 ending inventory based on the FIFO method. Perpetual FIFO: Goods Purchased Cost of Goods Sold Inventory Balance # of Date # of Units Cost Per Unit Goods Purchased Cost Per Cost of Goods Unit Sold # of Units Units Sold Cost Per Unit Inventory Balance December 7 December 141 December 15 December 21 Totals Required information Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Also, on December 15, Monson sells 15 units for $20 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 10 units @ $ 6.00 cost 20 units @ $12.00 cost 15 units @ $14.00 cost Required: Monson sells 15 units for $20 each on December 15. Monson uses a perpetual inventory system. Determine the costs assigned to the December 31 ending inventory when costs are assigned based on LIFO. Perpetual LIFO: Goods purchased Cost of Goods Sold Inventory Balance Cost of Goods # of units Cost per Available for Date # of units sold Cost per Cost of Goods unit Cost per unit unit Sold # of units Inventory Balance Sale December 7 $ 0.00 December 14 $ 0.00 $ 0.00 December 15 December 21 $ 0.00 Totals Required information Trey Monson starts a merchandising business on December 1 and enters into the following three inventory purchases. Also, on December 15, Monson sells 15 units for $20 each. Purchases on December 7 Purchases on December 14 Purchases on December 21 10 units @ $ 6.00 cost 20 units @ $12.60 cost 15 units @ $14.00 cost Required: Monson sells 15 units for $20 each on December 15. Monson uses a perpetual inventory system. Determine the costs assigned to ending inventory when costs are assigned based on the weighted average method. Inventory Balance Weighted Average - Perpetual: Goods purchased Date # of Cost per Inventory units unit Value Cost of Goods Sold # of units Cost per Cost of unit sold Goods Sold Cost per # of units Inventory Balance unit December 7 10 $ 6.00 = $ 60.00 10 @ $ 6.00 = $ 60.00 December 14 201 @ $ 12.00 - 101 a $6.00 $ 60.00 240.00 201@ $ 12.00 240.00 $ 300.00 Average cost 30 a December 15 20 @ $ 10.00 $ 200.00 101 a $ 10.00 $ 100.00 December 21 15 @ $ 14.00 $ 210.00 10 @ $ 10.00 = $ 100.00 15 @ 25 a $ 14.00 = $ 12.40 = 210.00 $ 310.00 Average cost Totals $ 200.00 Required information [The following information applies to the questions displayed below.] Laker Company reported the following January purchases and sales data for its only product. Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals Units Acquired at Cost Units sold at Retail 140 units @ $6.00 = $ 840 100 units @ $ 15 60 units @ $5.00 = 300 80 units @ $ 15 180 units @ $4.50 = 810 380 units $1,950 180 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 200 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. Required: 1. Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. 2. Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. 3. Determine the cost assigned to ending Inventory and to cost of goods sold using FIFO. 4. Determine the cost assigned to ending Inventory and to cost of goods sold using LIFO. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. (Round cost per unit to 2 decimal places.) Specific Identification Available for Sale Cost of Goods Sold Ending Inventory Units Ending Cost Per Ending Unit Cost Sold COGS Inventory- Inventory Unit Units Cost Purchase Date Activity Unit Cost Units 140 $ 6.00 Jan. 1 Jan. 20 Beginning inventory Purchase Purchase 60 Jan. 30 180 380 0 S 0 0 S 0 0 Required information [The following information applies to the questions displayed below.) Laker Company reported the following January purchases and sales data for its only product. Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals Units Acquired at Cost Units sold at Retail 140 units @ $6.00 = $ 840 100 units @ $ 15 60 units @ $5.00 = 300 80 units @ $ 15 180 units @ $4.50 = 810 380 units $1,950 180 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 200 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. Required: 1. Complete comparative income statements for the month of January for Laker Company for the four inventory methods. Assume expenses are $1,250 and that the applicable income tax rate is 40%. (Round your Intermediate calculations to 2 decimal places.) LAKER COMPANY Income Statements For Month Ended January 31 Specific Weighted Identification Average FIFO LIFO Sales 0 0 0 0 Cost of goods sold Gross profit Expenses Income before taxes Income tax expense Net income 0 0 0 0 $ 0 $ 0 $ 0 $ 0

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