On march 31, 2017, alpha corporation recorded the following factory overhead costs incurred: factory manager salary $6,000 factory utilities 2,500 machinery deprecation 10,000 machinery repairs 2,000 factory insurance (prepaid) 1,000 the overhead application rate is based on direct labor hours. the preset formula for overhead application estimated that $21,000 would be incurred, and 10,000 direct labor hours would be worked. during march, 7,100 hours were actually worked on job order a-2 and 3,000 hours were actually worked on job order a-3. use this information to prepare the march 31 general journal entries for the: (round any final dollar answers to the nearest whole dollar): 1. allocation of factory overhead to job order a-2 2. allocation of factory overhead to job order a-3

At the end of the current year, $59,500 of fees have been earned but have not been billed to clients. required: a. journalize the adjusting entry to record the accrued fees on december 31. refer to the chart of accounts for exact wording of account titles. b. if the cash basis rather than the accrual basis had been used, would an adjusting entry have been necessary?

Exercise 4-6 the following balances were taken from the books of alonzo corp. on december 31, 2017. interest revenue $86,000 accumulated depreciation—equipment $40,000 cash 51,000 accumulated depreciation—buildings 28,000 sales revenue 1,380,000 notes receivable 155,000 accounts receivable 150,000 selling expenses 194,000 prepaid insurance 20,000 accounts payable 170,000 sales returns and allowances 150,000 bonds payable 100,000 allowance for doubtful accounts 7,000 administrative and general expenses 97,000 sales discounts 45,000 accrued liabilities 32,000 land 100,000 interest expense 60,000 equipment 200,000 notes payable 100,000 buildings 140,000 loss from earthquake damage 150,000 cost of goods sold 621,000 common stock 500,000 retained earnings 21,000 assume the total effective tax rate on all items is 34%. prepare a multiple-step income statement; 100,000 shares of common stock were outstanding during the year. (round earnings per share to 2 decimal places, e.g. 1.48.)

Almost 80% of business owners are clueless about the competition, resulting in a) lost market share and customers. b) needless lawsuits. c) uninspired products. d) lack of perseverance