Exercise 3-17A Recording transactions in the general journal and T-accounts LO 3-1, 3-2 The following events apply to Montgomery Company for Year 1, its first year of operation: Received cash of $33,000 from the issue of common stock. Performed $52,000 of services on account. Incurred $7,300 of other operating expenses on account. Paid $25,000 cash for salaries expense. Collected $36,500 of accounts receivable. Paid a $3,400 dividend to the stockholders. Performed $9,900 of services for cash. Paid $5,900 of the accounts payable.(a) Record the preceding transactions in general journal form. (b) Post the entries to T-accounts and determine the ending balance in each account. (c) Determine the amount of total assets at the end of Year 1, and the amount of net income for Year 1

Allen's office department manufactures computer desks in its​ moosejaw, saskatchewan, plant. the company uses activity based costing to allocate all manufacturing conversion costs​ (direct labour and manufacturing​ overhead). its activities and related data​ follow: ​(click the icon to view the activity areas and related​ data.) requirements 1. compute the​ per-unit manufacturing product cost of standard desks and unpainted desks. 2. premanufacturing​ activities, such as product​ design, were assigned to the standard desks at $ 5 each and to the unpainted desks at $ 2 each. similar analyses were conducted of postmanufacturing​ activities, such as​ distribution, marketing, and customer service. the postmanufacturing costs were $ 31 per standard and $ 26 per unpainted desk. compute the full product costs per desk. 3. which product costs are reported in the external financial​ statements? which costs are used for management decision​ making? explain the difference. 4. what price should allen's managers set for standard desks to earn a $ 52 profit per​ desk?