[tseitler]

The following items were taken from the post adjusted trial balance of Flip Company. (All balances are normal.) Mortgage payable $ 1,443 Accumulated depreciation 3,655 Prepaid expenses 880 Accounts payable 1,444 Equipment 11,000 Notes payable after 2013 1,200 Long-term investments 1,100 Flip's capital 13,480 Short-term investments 3,690 Accounts receivable 1,696 Notes payable in 2013 1,000 Inventories 1,756 Cash 2,100 Instructions: Prepare a classified balance sheet in good form as of December 31, 2012.

<Multiple Questions Merged>

[tseitler]

The following information is available for Flip Company: Beginning inventory 600 units at $4 First purchase 900 units at $6 Second purchase 500 units at $7.20 Assume that Flip uses a periodic inventory system and that there are 700 units left at the end of the month. Instructions: Compute the cost of ending inventory and Cost of Good Sold under the (a) FIFO method. (b) LIFO method. (c) Average-cost method

[tseitler]

Prepare journal entries to record the following transactions entered into by Flip Company: 2012 June 1 Received a $10,000, 12%, 1-year note from Flop as full payment on her account. Nov. 1 Sold merchandise on account to Flap, Inc. for $12,000, terms 2/10, n/30. Nov. 5 Flap, Inc. returned merchandise worth $500. Nov. 9 Received payment in full from Flap, Inc. Dec. 31 Accrued interest on Flop's note. 2013 June 1 Flop honored her promissory note by sending the face amount plus interest. No interest has been accrued in 2013

[tseitler]

Flip earns a salary of $7,500 per month during the year. FICA taxes are 8% on the first $100,000 of gross earnings. Federal unemployment insurance taxes are 6.2% of the first $7,000; however, a credit is allowed equal to the state unemployment insurance taxes of 5.4% on the $7,000. During the year, $25,600 was withheld for federal income taxes and $5,700 was withheld for state income taxes. Instructions (a) Prepare a journal entry summarizing the payment of Flip’s total salary during the year. (b) Prepare a journal entry summarizing the employer payroll tax expense on Flip’s salary for the year. (c) Determine the cost of employing Flip for the year.

[tseitler]

The feasible region shown below is bounded by lines 2x ? Y = 4, x + y = 3, and y = 0. Find the coordinates of corner point A. Show work.

[joypulv]

We help, we don't do your homework for you. This applies to all your posts.

[Cat1864]

Please show your work for each question and we will be happy to help you.