The following accounts appeared on the trail balance of Blossom Company at December 31, 2020. Notes Payable (short-term)
Accumulated Depreciation - Bldg. $195,000
Supplies 840,000
Salaries and Wages Payable 39,000
Debt Investments (long-term) 31,000
Cash 200,000
Bonds Payable Due 1/1/2028 100,000
Allowance for Doubtful Accts. 1,000,000
Copyrights Notes Receivable (due in 6 months) 7,800
Income Taxes Payable 195,000
Preferred Stock 140,000
Appropriated Retained Earnings 155,000
Accounts Receivable $560,000
Prepaid Insurance 52,000
Common Stock 1,125,000
Unappropriated Retained Earnings 250,000
Inventory 1,480,250
Land 500,000
Trading Securities 78,000
Interest Payable 5,500
Buildings 1,600,000
Accounts Payable 450,000
Additional Paid-in Capital 130,000
Compute the following
1. Total current assets
2. Total property, plant, and equipment
3. Total assets
4. Total current liabilities
5. Total stockholders' equity

Ming chen began a professional practice on june 1 and plans to prepare financial statements at the end of each month. during june, ming chen (the owner) completed these transactions. a. owner invested $61,000 cash in the company along with equipment that had a $25,000 market value. b. the company paid $1,900 cash for rent of office space for the month. c. the company purchased $15,000 of additional equipment on credit (payment due within 30 days). d. the company completed work for a client and immediately collected the $2,100 cash earned. e. the company completed work for a client and sent a bill for $7,000 to be received within 30 days. f. the company purchased additional equipment for $5,500 cash. g. the company paid an assistant $3,000 cash as wages for the month. h. the company collected $5,200 cash as a partial payment for the amount owed by the client in transaction e. i. the company paid $15,000 cash to settle the liability created in transaction c. j. owner withdrew $1,500 cash from the company for personal use. required: enter the impact of each transaction on individual items of the accounting equation. (enter decreases to account balances with a minus sign.)

The following data pertains to activity and costs for two months: june july activity level in 10,000 12,000 direct materials $16,000 $ ? fixed factory rent 12,000 ? manufacturing overhead 10,000 ? total cost $38,000 $42,900 assuming that these activity levels are within the relevant range, the manufacturing overhead for july was: a) $10,000 b) $11,700 c) $19,000 d) $9,300

Which of the following is not a consideration when determining your asset allocation