Alex and bess have been in partnership for many years. the partners, who share profits and losses on a 60: 40 basis, respectively, wish to retire and have agreed to liquidate the business. liquidation expenses are estimated to be $5,000. at the date the partnership ceases operations, the balance sheet is as follows: cash $50,000 liabilities $40,000noncash assets 150,000 alex, capital 90,000 bess, capital 70,000total assets $200,000 total liabilities and capital $200,000part a: prepare journal entries for the following transactions: a. distributed safe cash payments to the partners. b. paid $30,000 of the partnership’s liabilities. c. sold noncash assets for $160,000.d. distributed safe cash payments to the partners. - for part a, i only need the answer to d. alex, capital bess, capitale. paid remaining partnership liabilities of $10,000.f. paid $4,000 in liquidation expenses; no further expenses will be incurred. g. distributed remaining cash held by the business to the partners. part b: prepare a final statement of partnership liquidation.

The following account balances at the beginning of january were selected from the general ledger of fresh bagel manufacturing​ company: work in process inventory ​$0 raw materials inventory $ 29 comma 000 finished goods inventory $ 40 comma 900 additional​ data: 1. actual manufacturing overhead for january amounted to $ 62 comma 600. 2. total direct labor cost for january was $ 63 comma 600. 3. the predetermined manufacturing overhead rate is based on direct labor cost. the budget for the year called for $ 255 comma 000 of direct labor cost and $ 382 comma 500 of manufacturing overhead costs. 4. the only job unfinished on january 31 was job no.​ 151, for which total direct labor charges were $ 5 comma 700 ​(1 comma 000 direct labor​ hours) and total direct material charges were $ 14 comma 400. 5. cost of direct materials placed in production during january totaled $ 123 comma 300. there were no indirect material requisitions during january. 6. january 31 balance in raw materials inventory was $ 35 comma 200. 7. finished goods inventory balance on january 31 was $ 35 comma 400. what is the cost of goods manufactured for​ january

Nichols inc. manufactures remote controls. currently the company uses a plantminuswide rate for allocating manufacturing overhead. the plant manager is considering switchingminusover to abc costing system and has asked the accounting department to identify the primary production activities and their cost drivers which are as follows: activities cost driver allocation rate material handling number of parts $5 per part assembly labor hours $20 per hour inspection time at inspection station $10 per minute the current traditional cost method allocates overhead based on direct manufacturing labor hours using a rate of $20 per labor hour. what are the indirect manufacturing costs per remote control assuming an method is used and a batch of 10 remote controls are produced? the batch requires 100 parts, 5 direct manufacturing labor hours, and 3 minutes of inspection time.

Sye chase started and operated a small family architectural firm in 2016. the firm was affected by two events: (1) chase provided $25,000 of services on account, and (2) he purchased $2,800 of supplies on account. there were $250 of supplies on hand as of december 31, 2016. record the two transactions in the accounts. record the required year-end adjusting entry to reflect the use of supplies and the required closing entries. post the entries in the t-accounts and prepare a post-closing trial balance.