From the annual report of your allocated company and in addition, to providing examples,
define, describe and critically discuss the objectives of general purpose financial reporting
(GPFR)? Which objective appears to have been included within existing conceptual framework
project? and identify if your allocated company’s report is a GPFR and if the objectives of GPFR
are achieved by your company?

Predetermined Overhead Rate, Application of Overhead to Jobs, Job Cost
On April 1, Sangvikar Company had the following balances in its inventory accounts:
Materials Inventory$12,840Work-in-Process Inventory21,630Finished Goods Inventory8,950
Work-in-process inventory is made up of three jobs with the following costs:
Job 114Job 115Job 116Direct materials$2,357$2,646$5,126Direct labor1,8401,5404,040Applied overhead1,0128472,222
During April, Sangvikar experienced the transactions listed below.

Materials purchased on account, $28,580.

Materials requisitioned: Job 114, $16,080; Job 115, $12,370; and Job 116, $5,120.

Job tickets were collected and summarized: Job 114, 130 hours at $11 per hour; Job 115, 220 hours at $15 per hour; and Job 116, 80 hours at $17 per hour.

Overhead is applied on the basis of direct labor cost.

Actual overhead was $4,585.

Job 115 was completed and transferred to the finished goods warehouse.

Job 115 was shipped, and the customer was billed for 125 percent of the cost.

Required:
1. Calculate the predetermined overhead rate based on direct labor cost.
 % of direct labor cost
2. Calculate the ending balance for each job as of April 30. When required, round your answers to the nearest dollar. Use your rounded answers in subsequent computations, if necessary.
 Ending BalanceJob 114$Job 115$Job 116$
3. Calculate the ending balance of Work in Process as of April 30. When required, round your answer to the nearest dollar.
$
4. Calculate the cost of goods sold for April. When required, round your answer to the nearest dollar.
$
5. Assuming that Sangvikar prices its jobs at cost plus 25 percent, calculate the price of the one job that was sold during April. When required, round your answer to the

hi, I’m working on journal entries and I need some help journalizing these correctly. Some of my answers seem off.

. JUTTU TU. UNTUK TUTU TITULLUT 38,0UU.UU WASTECEIVEL TOT SLIVICES per EU TUTILITIES June 16: Byte purchased a building and the land it is on for $95,000.00 to house its repair facilities and to store computer equipment. The lot on which the building is located is valued at $15,000.00. The balance of the cost is to be allocated to the building. Check # 5005 was used to make the down payment of $9,500.00 A thirty year mortgage with an inital payement due on August 1st, was established for the balance. 11. June 17: Check # 5006 for $3,200.00 was paid for rent for June and July. 12. June 17: Received invoice number 26354 in the amount of $400.00 from the local newspaper for advertising. 13. June 21: Billed various miscellaneous local customers $4,200.00 for consulting services performed. 14. 5809 June 21: Check # 5008 was used to purchase a fax machine for the office from Office Machines Express for $800.00. The invoice number was 975-328. 15. June 21: Accounts payable in the amount of $320.00 were paid with Check # 5007. 16. June 22: Check # 5010 was used to pay the advertising bill that was received on June 17. June 22: Received a bill for $1.290.00 from Computer Parts and Repair Co. for repairs to the computer equipment. The invoice number was 43254. June 22: Check # 5009 was used to pay salaries of $960.00 to equipment operators for the week ending June 18. Ignore payroll taxes. 19. June 23: Cash in the amount of $3,365.00 was received on billings. 20. June 23: Purchased office supplies for $680.00 from Staples on account. The invoice number was 65498. 21. June 28: Billed $6,120.00 to miscellaneous customers for services performed to June 25. 22. June 29: Cash in the amount of $5,799.00 was received for billings. 23. June 29: Paid the bill received on June 22, from Computer Parts and Repairs Co with Check # 5011. June 29: Check # 5012 was used to pay salaries of $960.00 to equipment operators for the week ending June 25. Ignore payroll taxes. Welcome Chart of Accounts Transactions Description land and building purch I PESE FETTET E TESTIS 13 n 2 1 120 Accounts Receivable 410 Como CORES Juni 211 once PB3888888888888SRRRRRRRRR88832888888888888888888888888 TEET P11 EH LE 500 Read M o re expense 1 0 Repairs & Maint Expense computer par Jun 22 Jun2 ELITE INTE nza 120 ACCORecente 100 Computer Coming services perform Jun 2 2101 Accountable come parts and repas Volcom Chart of Accounts Transaction General Jou F29 Number Name 1110 Cash 1120 Accounts Receivable 1130 Prepaid Insurance 1140 Prepaid Rent 1150 Office Supplies 1211 Office Equip. 1212 Accum. Depr.-Office Equip. 1311 Computer Equip. 1312 Accum. Depr.-Computer Equip. 1411 Building 1412 Accum. Depr.-Building 1510 Land 2101 Accounts Payable 2102 Advanced Payments 2103 Interest Payable 2105 Salaries Payable 2106 Income Taxes Payable 2201 Mortgage Payable 2202 Notes Payable 3100 Hudson Bloom, Capital 3300 Hudson Bloom, Withdrawals 3400 Income Summary 4100 Computer & Consulting Revenue 5010 Rent Expense 5020 Salary Expense 5030 Advertising Expense 5040 Repairs & Maint. Expense 5050 Oil & Gas Expense 5080 Supplies Expense 5090 Interest Expense 5100 Insurance Expense 5110 Depreciation Expense Normal Balance Debit Debit Debit Debit Debit Debit Credit Debit Credit Debit Credit Debit Credit Credit Credit Credit Credit Credit Credit Credit Debit Credit Credit Debit Debit Debit Debit Debit Debit Debit Debit Debit

Instructions: Please prepare a proper Statement of Cash Flows for Reynolds Company using the Indirect Method in either Word or Excel. Handwritten copies will not be accepted! This assignment can be completed in teams of two. Please submit one copy per team and include names on the submission. The balance sheets for Reynolds Company for the years ended December 31, 2019 and 2018, are as follows: 2019 2018 Cash $53,000 $50,000 Accounts receivable (net) 37,000 48,000 Inventories 108,500 100,000 Investments 0 70,000 Equipment 573,200 450,000 Accumulated depreciation equipment (142.000) (176,000) $629.700 $542.000 $62,500 $43,800 Accounts payable Bonds payable, due Year 2 Common stock, $10 par Paid-in capital in excess of par common stock Retained earnings 325,000 80,000 162 200 $629,700 100,000 285,000 55,000 58,200 $542.000 349,000 The income statement for 2019 is as follows: Sales $625,700 Cost of merchandise sold Gross profit $285,700 Operating expenses: Depreciation expense $26,000 Other operating expenses 68,000 94,000 Income from operations $191,700 Other income: Gain on sale of investment $4,000 Other expense: Interest expense 6.000 2.000) Income before income tax $189,700 Income tax Net income $129,000 Additional information: a. Fully depreciated equipment costing $60,000 was scrapped with no salvage, and equipment purchased for $183,200. b. Bonds payable for $100,000 were retired by payment at their face amount C. 5,000 shares of common stock were issued at $13 for cash d. Cash dividends of $25,000 were declared and paid. 60 700

I got 6300 multiple times and don't see what I did wrong Ahngram Corp. has 1,000 defective units of a product that cost $3.80 per unit in direct costs and $7.30 per unit in indirect cost when produced last year. The units can be sold as scrap for $4.80 per unit or reworked at an additional cost of $3.30 and sold at full price of $14.40. The incremental net income (loss) from the choice of reworking the units would be: Multiple Choice Ο Ο $11,100. Ο $4,800. Ο $3,300. Ο ($3,300).