On january 1, 2017, harter company had accounts receivable $139,000, notes receivable $25,000, and allowance for doubtful accounts $13,200. the note receivable is from willingham company. it is a 4-month, 9% note dated december 31, 2016. harter company prepares financial statements annually at december 31. during the year, the following selected transactions occurred.1. jan. 5 sold $20,000 of merchandise to sheldon company, terms n/15.2. jan 20. accepted sheldon company's $20,000, 3-month, 8% note for balance due.3. feb 18. sold $8,000 of merchandise to patwary company and accepted patwary's $8,000, 6-month, 9% note for the amount due.4. april 20 collected sheldon company notes in full.5. april 30 received payment in full from willingham company on the amount due.6. may 25 accepted potter inc.'s $6,000, 3-month, 7% note in settlement of a past-due balance on the account? 7. august 18 received payment in full from patwary company on a note due.8. august 25 the potter inc. note was dishonored. potter inc. is not bankrupt; future payment is anticipated.9. sept 1 sold $12,000 of merchandise to stanbrough company and accepted a $12,000, 6- month, 10% note for the amount due. required: journalize the transactions.

Yael decides that she no longer enjoys her job, and she quits to open a gluten-free, dairy-free kosher bakery. she pays a monthly rent for her store of $2,000. her labor costs for one month are $4,500, and she spends $6,000 a month on nut flours, sugar, and other supplies. yael was earning $2,500 a month working as a bank teller. these are her only costs. her monthly revenue is $14,000. which of the following statements about yael’s costs and profit are correct? correct answer(s) an accountant would say she is earning a monthly profit of $1,500. her implicit costs are $2,500 a month. an economist would tell her that she is experiencing a loss. her total costs are $12,500 a month. her explicit costs include the labor, rent, and supplies for her store. her economic profit is $1,500 a month.

Zachary company produces commercial gardening equipment. since production is highly automated, the company allocates its overhead costs to product lines using activity-based costing. the costs and cost drivers associated with the four overhead activity cost pools follow: activities unit level batch level product level facility level cost $ 64,800 $ 27,730 $ 15,000 $ 154,000 cost driver 2,400 labor hrs. 47 setups percentage of use 11,000 units production of 780 sets of cutting shears, one of the company’s 20 products, took 240 labor hours and 7 setups and consumed 15 percent of the product-sustaining activities. required: (a) had the company used labor hours as a company wide allocation base, how much overhead would it have allocated to the cutting shears? (b) how much overhead is allocated to the cutting shears using activity-based costing? (c) compute the overhead cost per unit for cutting shears first using activity-based costing and then using direct labor hours for allocation if 780 units are produced. if direct product costs are $150 and the product is priced at 30 percent above cost for what price would the product sell under each allocation system? (d) assuming that activity-based costing provides a more accurate estimate of cost, indicate whether the cutting shears would be over- or underpriced if direct labor hours are used as an allocation base. explain how over-or undercosting can affect vaulker's profitability. (e) comment on the validity of using the allocated facility-level cost in the pricing decision. should other costs be considered in a cost- plus pricing decision? if so, which ones? what costs would you include if you were trying to decide whether to accept a special order?

After the price floor is instituted, the chairman of productions office buys up any barrels of gosum berries that the producers are not able to sell. with the price floor, the producers sell 300 barrels per month to consumers, but the producers, at this high price floor, produce 700 barrels per month. how much producer surplus is created with the price floor? show your calculations.