1. On March 1, fixtures and equipment were purchased for $4,000 with a downpayment of $2,000 plus a $2,000 note payable in one year. Interest of 5.5% per year is due when the note is repaid. The estimated life of the fixtures and equipment is 10 years with no expected salvage value. Depreciation on the fixtures and equipment is computed on a straight-line basis.

2. Cash dividends totalling $3,800 were declared and paid to stockholders on March 31.

3. Wages and salaries incurred in March amounted to $10,900, of which $4,300 was paid.

Required:

Provide the necessary journal entries.

If his parents cannot alex with college, and two of his scholarships will be awarded to other students if he does not accept them immediately, which is the best option for him?

Archangel manufacturing calculated a predetermined overhead allocation rate at the beginning of the year based on a percentage of direct labor costs. the production details for the year are given below. calculate the manufacturing overhead allocation rate for the year based on the above data. (round your final answer to two decimal places.) a) 42.42% b) 257.14% c) 235.71% d) 1, 206.90% archangel production details.

Suppose you win a small lottery and have the choice of two ways to be paid: you can accept the money in a lump sum or in a series of payments over time. if you pick the lump sum, you get $2,950 today. if you pick payments over time, you get three payments: $1,000 today, $1,000 1 year from today, and $1,000 2 years from today. 1) at an interest rate of 6% per year, the winner would be better off accepting the (lump sum / payments over time), since it has the greater present value. 2) at an interest rate of 9% per year, the winner would be better off accepting the (lump sum / payments over time), since it has the greater present value. 3) years after you win the lottery, a friend in another country calls to ask your advice. by wild coincidence, she has just won another lottery with the same payout schemes. she must make a quick decision about whether to collect her money under the lump sum or the payments over time. what is the best advice to give your friend? a) the lump sum is always better. b) the payments over time are always better. c) it will depend on the interest rate; advise her to get a calculator. d) none of these answers is good advice.