Larkspur, Inc. has the following transactions during August of the current year.
Aug. 1 Opens an office as a financial advisor, investing $4,900 in cash in exchange for common stock.
4 Pays insurance in advance for 6 months, $1,980 cash.
16 Receives $400 from clients for services performed.
27 Pays secretary $1,890 salary. Journalize the transactions.
Required:
1. Record the journal entries of above transactions.

Warner inc. sells a high-speed retrieval system for mining information. it provides the following information for the year. budgeted actual overhead cost $965,700 $905,000 machine hours 58,570 49,200 direct labor hours 107,300 104,200 overhead is applied on the basis of direct labor hours. compute the predetermined overhead rate. predetermined overhead rate $ per direct labor hour link to text determine the amount of overhead applied for the year. the amount of overhead applied $