Mallard incorporated (mi) is a small manufacturing company that makes model trains to sell to toy stores. it has a small service department that repairs customers’ trains for a fee. the company has been in business for five years. at the end of the previous year, the accounting records reflected total assets of $610,000 and total liabilities of $255,000. during the current year, the following summarized events occurred: issued additional shares of common stock for $125,000 cash. borrowed $163,000 cash from the bank and signed a 10-year note. built an addition on the buildings for $249,000 and paid cash to the contractor. purchased equipment for the new addition for $39,500, paying $3,950 in cash and signing a note for the balance due in two years. returned a $3,950 piece of equipment, from (d), because it proved to be defective; received a reduction of the notes payable. purchased a delivery truck (equipment) for $31,000; paid $21,700 cash and signed a two-year note for the remainder. a stockholder sold $9,950 of his stock in mallard incorporated to his neighbor.

Why there has to be two lines in a plane

Luc do purchased stocks for $6,000. he paid $4,000 in cash and borrowed $2,000 from the brokerage firm. he bought 100 shares at $60.00 per share ($6,000 total). the loan has an annual interest rate of 8 percent. six months later, luc do sold the stock for $65 per share. he paid a commission of $120 and repaid the loan. his net profit was how much? pls

Exercise 15-7 crawford corporation incurred the following transactions. 1. purchased raw materials on account $53,000. 2. raw materials of $45,200 were requisitioned to the factory. an analysis of the materials requisition slips indicated that $9,400 was classified as indirect materials. 3. factory labor costs incurred were $65,400, of which $50,200 pertained to factory wages payable and $15,200 pertained to employer payroll taxes payable. 4. time tickets indicated that $55,000 was direct labor and $10,400 was indirect labor. 5. manufacturing overhead costs incurred on account were $81,700. 6. depreciation on the company’s office building was $8,100. 7. manufacturing overhead was applied at the rate of 160% of direct labor cost. 8. goods costing $89,400 were completed and transferred to finished goods. 9. finished goods costing $76,000 to manufacture were sold on account for $105,100. journalize the transactions. (credit account titles are automatically indented when amount is entered. do not indent manually.) no. account titles and explanation debit credit (1) (2) (3) (4) (5) (6) (7) (8) (9) (to record the sale) (to record the cost of the sale) click if you would like to show work for this question: open show work