Problem 10 Assigment2 Wk2

job 1-20   Effect of product versus period costs on financial statements Hoen Manufacturing Company experienced the quest accounting progenys during its post-mortem examination year of operation. With the exception of the adjusting entries for depreciation, assume that all transactions be cash transactions. 1. Acquired $50,000 cash by issuing common stock. 2. nonrecreational $8,000 for the materials used to make its products, all of which were started and completed during the year. 3. gainful salaries of $4,400 to veer and administrative employees. 4. Paid wages of $7,000 to production workers. 5. Paid $9,600 for member of furniture used in selling and administrative offices. The furniture was acquired on January 1. It had a $1,600 estimated salvage value and a four-year effective life. 6. Paid $13,000 for manufacturing equipment. The equipment was acquired on January 1. It had a $1,000 estimated salvage value and a three-year usefu l life. 7. Sold inventory to customers for $25,000 that had cost $14,000 to make. Required beg off how these events would affect the equalizer sheet, income statement, and statement of cash flows by recording them in a horizontal financial statements model as headd here. The first event is recorded as an example. In the interchange Flow column, indicate whether the amounts represent financing activities (FA), investing activities (IA), or operating activities (OA). Problem 11-21   Identifying cost behavior Identify the following costs as improve or variable. Costs think to plane trips between Seattle, Washington, and Orlando, Florida, follow. Pilots argon paid on a per trip basis.

|Requirement ! | intractable |Variable | |a. Pilots salaries relative to the # of trips flown | |x | |b. Dep. relative to # of planes in value | |x...If you want to get a full essay, order it on our website: OrderEssay.net

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