The trial balance before adjustment for shamrock company shows the following balances. dr. cr. accounts receivable $82,300 allowance for doubtful accounts 3,700 sales revenue $467,700

using the data above, give the journal entries required to record each of the following cases. (each situation is independent.)

1. to obtain additional cash, shamrock factors without recourse $21,500 of accounts receivable with stills finance. the finance charge is 12% of the amount factored.

2. to obtain a 1-year loan of $64,600, shamrock assigns $67,200 of specific receivable accounts to crosby financial. the finance charge is 8% of the loan; the cash is received and the accounts turned over to crosby financial.

3. the company wants to maintain the allowance for doubtful accounts at 5% of gross accounts receivable.

4. based on an aging analysis, an allowance of $5,318 should be reported. assume the allowance has a credit balance of $1,175.

Sweeten company had no jobs in progress at the beginning of march and no beginning inventories. the company has two manufacturing departments--molding and fabrication. it started, completed, and sold only two jobs during march—job p and job q. the following additional information is available for the company as a whole and for jobs p and q (all data and questions relate to the month of march): molding fabrication total estimated total machine-hours used 2,500 1,500 4,000 estimated total fixed manufacturing overhead $ 10,000 $ 15,000 $ 25,000 estimated variable manufacturing overhead per machine-hour $ 1.40 $ 2.20 job p job q direct materials $ 13,000 $ 8,000 direct labor cost $ 21,000 $ 7,500 actual machine-hours used: molding 1,700 800 fabrication 600 900 total 2,300 1,700 sweeten company had no underapplied or overapplied manufacturing overhead costs during the month. required: for questions 1-8, assume that sweeten company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. for questions 9-15, assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both departments. 1. what was the company’s plantwide predetermined overhead rate? (round your answer to 2 decimal places.) next

Which of the following is not an example of one of the four mail advantages of prices on a free market economy

On december 31, 2013, coronado company issues 173,000 stock-appreciation rights to its officers entitling them to receive cash for the difference between the market price of its stock and a pre-established price of $10. the fair value of the sars is estimated to be $5 per sar on december 31, 2014; $2 on december 31, 2015; $10 on december 31, 2016; and $8 on december 31, 2017. the service period is 4 years, and the exercise period is 7 years. prepare a schedule that shows the amount of compensation expense allocable to each year affected by the stock-appreciation rights plan.