On December 31, 2020, Ayayai Co. performed environmental consulting services for Hayduke Co. Hayduke was short of cash, and Ayayai Co. agreed to accept a $296,600 zero-interest-bearing note due December 31, 2022, as payment in full. Hayduke is somewhat of a credit risk and typically borrows funds at a rate of 12%. Ayayai is much more creditworthy and has various lines of credit at 6%. 1.) Prepare the journal entry to record the transaction of December 31, 2020, for the Ed Abbey Co.
2.) Assuming Ed Abbey Co.’s fiscal year-end is December 31, prepare the journal entry for December 31, 2021.
3.) Assuming Ed Abbey Co.’s fiscal year-end is December 31, prepare the journal entry for December 31, 2022.

“wonderful! not only did our salespeople do a good job in meeting the sales budget this year, but our production people did a good job in controlling costs as well,” said kim clark, president of martell company. “our $11,150 overall manufacturing cost variance is only 3% of the $1,536,000 standard cost of products made during the year. that’s well within the 3% parameter set by management for acceptable variances. it looks like everyone will be in line for a bonus this year.” the company produces and sells a single product. the standard cost card for the product follows: standard cost card—per unit direct materials, 4.00 feet at $4.00 per foot $ 16.00 direct labor, 1.1 direct labor-hours at $13 per direct labor-hour 14.30 variable overhead, 1.1 direct labor-hours at $2.40 per direct labor-hour 2.64 fixed overhead, 1.1 direct labor-hours at $6.50 per direct labor-hour 7.15 standard cost per unit $ 40.09the following additional information is available for the year just completed: a. the company manufactured 20,000 units of product during the year.b. a total of 77,000 feet of material was purchased during the year at a cost of $4.25 per foot. all of this material was used to manufacture the 20,000 units. there were no beginning or ending inventories for the year.c. the company worked 24,000 direct labor-hours during the year at a direct labor cost of $12.50 per hour.d. overhead is applied to products on the basis of standard direct labor-hours. data relating to manufacturing overhead costs follow: denominator activity level (direct labor-hours) 19,000 budgeted fixed overhead costs $ 123,500 actual variable overhead costs incurred $ 64,800 actual fixed overhead costs incurred $ 120,900required: 1. compute the materials price and quantity variances for the year. (round standard price and actual price to 2 decimal places. indicate the effect of each variance by selecting "f" for favorable, "u" for unfavorable, and "none" for no effect (i.e., zero 2. compute the labor rate and efficiency variances for the year. (round standard rate and actual rate to 2 decimal places. indicate the effect of each variance by selecting "f" for favorable, "u" for unfavorable, and "none" for no effect (i.e., zero 3. for manufacturing overhead compute: a. the variable overhead rate and efficiency variances for the year. (round standard rate and actual rate to 2 decimal places. indicate the effect of each variance by selecting "f" for favorable, "u" for unfavorable, and "none" for no effect (i.e., zero b. the fixed overhead budget and volume variances for the year. (indicate the effect of each variance by selecting "f" for favorable, "u" for unfavorable, and "none" for no effect (i.e., zero

The following information relates to wagner, inc.: advertising costs $ 18 comma 600 administrative salaries 17 comma 800 delivery vehicle depreciation 1 comma 500 factory repair and maintenance 600 indirect labor 10 comma 000 indirect materials 18 comma 000 manufacturing equipment depreciation 3 comma 000 office rent 58 comma 000 president's salary 1 comma 100 sales revenue 600 comma 000 sales salary 5 comma 200 how much were wagner's period costs

When the federal reserve buys and sells bonds to member banks, it is called a. monetary policy b. reserve ratio c. interest rate adjustment d. open market operations