The following were selected from among the transactions completed by Essex Company during July of the current year:

Required:

Journalize the entries to record the transactions of Essex Company for July using the periodic inventory system.

For a compound transaction, if an amount box does not require an entry, leave it blank.

The following were selected from among the transactions completed by Essex Company during July of the current year:

Required:

Journalize the entries to record the transactions of Essex Company for July using the periodic inventory system.

For a compound transaction, if an amount box does not require an entry, leave it blank.

Use the following information for the Exercises below. [The following information applies to the questions displayed below.] Hudson Co. reports the contribution margin income statement for 2017. HUDSON CO. Contribution Margin Income Statement For Year Ended December 31, 2017 Sales (10,100 units at $300 each) $ 3,030,000 Variable costs (10,100 units at $240 each) 2,424,000 Contribution margin $ 606,000 Fixed costs 468,000 Pretax income $ 138,000 Exercise 18-16 Break-even LO P2 1. Compute Hudson Co.'s break-even point in units and. 2. Compute Hudson Co.'s break-even point in sales dollars. 1. Assume Hudson Co. has a target pretax income of $167,000 for 2018. What amount of sales (in dollars) is needed to produce this target income? 2. If Hudson achieves its target pretax income for 2018, what is its margin of safety (in percent)? (Round your answer to 1 decimal place.) Assume the company is considering investing in a new machine that will increase its fixed costs by $43,000 per year and decrease its variable costs by $8 per unit. Prepare a forecasted contribution margin income statement for 2018 assuming the company purchases this machine. If the company raises its selling price to $320 per unit. 1. Compute Hudson Co.'s contribution margin per unit. 2. Compute Hudson Co.'s contribution margin ratio. 3. Compute Hudson Co.'s break-even point in units. 4. Compute Hudson Co.'s break-even point in sales dollars. *please show all parts*

Sales-Related and Purchase-Related Transactions Using Perpetual Inventory System

The following were selected from among the transactions completed by Babcock Company during November of the current year:

The following were selected from among the transactions completed by Babcock Company during November of the current year: Nov. 3 Purchased merchandise on account from Moonlight Co., list price $93,000, trade discount 30%, terms FOB destination, 2/10, n/30. 4 Sold merchandise for cash, $35,370. The cost of the merchandise sold was $23,670. 5 Purchased merchandise on account from Papoose Creek Co., $44,400, terms FOB shipping point, 2/10, n/30, with prepaid freight of $810 added to the invoice. 6 Returned $13,300 ($19,000 list price less trade discount of 30%) of merchandise purchased on November 3 from Moonlight Co. 8 Sold merchandise on account to Quinn Co., $17,080 with terms n/15. The cost of the merchandise sold was $10,010. 13 Paid Moonlight Co. on account for purchase of November 3, less return of November 6. 14 Sold merchandise on VISA, $246,980. The cost of the merchandise sold was $152,530. 15 Paid Papoose Creek Co. on account for purchase of November 5. 23 Received cash on account from sale of November 8 to Quinn Co. 24 Sold merchandise on account to Rabel Co., $52,400, terms 1/10, n/30. The cost of the merchandise sold was $31,410. 28 Paid VISA service fee of $3,220. 30 Paid Quinn Co. a cash refund of $6,020 for returned merchandise from sale of November 8. The cost of the returned merchandise was $3,390. Required: Journalize the transactions. Refer to the Chart of Accounts for exact wording of account titles.

The following were selected from among the transactions completed by Babcock Company during November of the current year:

Required:

1) K Company  issued $672,000 of 11%, 20-year bonds on January 1, 2017, at 102. Interest is payable semiannually on July 1 and January 1. K Company uses the straight-line method of amortization for bond premium or discount.

Prepare journal entries for the following:

a) The issuance of the bonds.

b) The payment of interest and the related amortization on July 1,2017.

c) The accrual of interest and the related amortization on December 31, 2017.

2) Coronado Co. sold $1,930,000 of 12%, 10-year bonds at 106 on January 1, 2017. The bonds were dated January 1, 2017, and pay interest on July 1 and January 1. If Coronado uses the straight-line method to amortize bond premium or discount, determine the amount of interest expense to be reported on July 1, 2017, and December 31, 2017.  

Interest expense to be recorded is ?

3) Whispering Inc. issued $610,000 of 9%, 10-year bonds on June 30, 2017, for $505,047. This price provided a yield of 12% on the bonds. Interest is payable semiannually on December 31 and June 30. If Whispering uses the effective-interest method, determine the amount of interest expense to record if financial statements are issued on October 31, 2017.

Interest expense to be recorded is ?

The following data relate to notes receivable and interest for CGH Cable Co., a cable manufacturer and supplier. (All notes are dated as of the day they are received.)

Journalize the entries to record the transactions. Refer to the Chart of Accounts for exact wording of account titles.

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JOURNAL

On January 1, 2020, Lawrence Co. began construction of a building to be used as its office headquarters. The building is expected to be completed on December 31, 2020. Expenditures on this project during 2020 were as follows:
                January 1st          $ 160,000
March 1st               420,000
June 1st                  270,000
October 31st           165,000
On Jan. 1, 2020, the company obtained a $600,000 specific construction loan with a 7% interest rate. The loan was outstanding during the entire construction period. The company’s other interest-bearing debts included two long-term notes of $480,000 and $900,000 with interest rates of 10% and 11%, respectively. Both notes were outstanding during the entire construction period.

Instruction:
(a) Determine the amount of interest capitalized for 2020. Please show your work (i.e. the weighted average accumulated expenditure, the actual interest, the weighted average interest rate, and the avoidable interest) to support your final answer. Please round the WA interest rate to four decimal places when necessary.      

    Answer: The amount of interest capitalized for 2020 is                                                            .
(b) Regardless your answer in (a), determine the amount of avoidable interest for 2020 assuming that the weighted average accumulated expenditure is $534,000 (other things being equal).

On October 1, 2016, Adria Lopez launched a computer services company called Success Systems, which provides consulting services, computer system installations, and custom program development. Adria adopts the calendar year for reporting purposes and expects to prepare the company's first set of financial statements on December 31, 2016. The company's initial chart of accounts and transactions follows. Account No. Account No. Cash 101 Common Stock 307 Accounts Receivable 106 Dividends 319 Computer Supplies 126 Computer Services Revenue 403 Prepaid Insurance 128 Wages Expense 623 Prepaid Rent 131 Advertising Expense 655 Office Equipment 163 Mileage Expense 676 Computer Equipment 167 Miscellaneous Expenses 677 Accounts Payable 201 Repairs Expense - Computer 684 Oct. 1 Adria Lopez invested $55,000 cash, a $20,000 computer system, and $8,000 of office equipment in the company in exchange for its common stock. The company paid $3,300 cash for four months' rent. (Hint: Debit Prepaid Rent for $3,300.) The company purchased $1,420 of computer supplies on credit from Harris Office Products. The company paid $2,220 cash for one year's premium on a property and liability insurance policy. (Hint Debit Prepaid Insurance for $2,220.) The company billed Easy leasing $4,800 for services performed in installing a new Web server. 8 The company paid $1,420 cash for the computer supplies purchased from Harris Office Products on October 3. 10 The company hired Lyn Addie as a part-time assistant for $125 per day, as needed. 12 The company billed Easy leasing another $1,400 for services performed. 15 The company received $4,800 cash from Easy Leasing as partial payment on its account. 17 The company paid $805 cash to repair computer equipment that was damaged when moving it. 20 The company paid $1,940 cash for advertisements published in the local newspaper. 22 The company received $1,400 cash from Easy Leasing on its account. 28 The company billed IFM Company $5,208 for services performed. 31a The Company paid $875 cash for Lyn Addie's wages for seven days' work. 31b The Company paid $3,600 cash in dividends. Nov. 1 The Company reimbursed Adria Lopez in cash for business automobile mileage allowance (Lopez logged 1,000 miles at $0.32 per mile). 2 The company received $4,633 cash from Liu Corporation for computer services performed. 5 The company purchased computer supplies for $1,125 cash from Harris Office Products. 8 The company billed Gomez Co. $5,668 for services performed. 13 The company received notification from Alex's Engineering Co. that Success Systems' bid of $3,950 for an upcoming project is accepted. 18 The company received $2,208 cash from IFM Company as partial payment of the October 28 bill. 22 The company donated $250 cash to the United Way in the company's name. The company completed work for Alex's Engineering Co. and sent it a bill for $3,950. The company sent another bill to IFM Company for the past-due amount of $3,000. 28 The company reimbursed Adria Lopez in cash for business automobile mileage (1,200 miles at $0.32 per mile). 30a The Company paid $1,750 cash for Lyn Addie's wages for 14 days' work. 30b The Company paid $2,000 cash in dividends. Required: Using Micro Soft Excel and Word: Prepare journal entries to record each of the above transactions for Success Systems. (If no entry is required for a particular transaction, select "No journal entry required” in the first account field.) Post the journal entries to ledger accounts. (Add additional ledger accounts when necessary.) Prepare a trial balance as of the end of November. (Trial Balance total $ 108,659) (Be sure to show formulas in your worksheets.) This question has been posted but the answer is wrong please review and help thanks I found the mistake in the answer the 11/2 transaction shoud be cash debit revenue credit your welcome!