Manufacturers of large equipment such as aircraft and ships and companies involved in road construction have jobs that may require two or more years for completion. For example, Boeing Corporation might have an order for 50 aircraft for a particular airline, and the order will extend over a three- to five-year period. Aircraft are delivered as completed, but not in a batch of 50 at one time. In the typical fashion, the overhead application rate must be calculated and applied in such a way that each aircraft that is delivered has the proper amount of overhead for that aircraft. Required: What unique difficulties do you see in the calculation and application of overhead in industries such as aircraft manufacturing or shipbuilding

For each separate case below, follow the 3-step process for adjusting the prepaid asset account at december 31. step 1: determine what the current account balance equals. step 2: determine what the current account balance should equal. step 3: record the december 31 adjusting entry to get from step 1 to step 2. assume no other adjusting entries are made during the year. a. prepaid insurance. the prepaid insurance account has a $4,700 debit balance to start the year. a re- view of insurance policies and payments shows that $900 of unexpired insurance remains at year-end. b. prepaid insurance. the prepaid insurance account has a $5,890 debit balance at the start of the year. a review of insurance policies and payments shows $1,040 of insurance has expired by year-end. c.prepaidrent.onseptember1ofthecurrentyear,thecompanyprepaid$24,000 for 2 years of rentfor facilities being occupied that day. the company debited prepaid rent and credited cash for $24,000.

Amano s preguntes cationing to come fonds and consumer good 8. why did the u.s. government use rationing for some foods and consumer goods during world war ii?

Danielle enjoys working as a certified public accountant (cpa) and assisting small businesses and individuals with managing their finances and taxes. which general area of accounting is her specialty? danielle specialized in