Rantzow-lear company buys and sells debt securities expecting to earn profits on short-term differences in price. the company’s fiscal year ends on december 31. the following selected transactions relating to rantzow-lear’s trading account occurred during december 2018 and the first week of 2019. 2018 dec. 17 purchased 100 grocers' supply corporation bonds at par for $350,000. 28 received interest of $2,000 from the grocers’ supply corporation bonds. 31 recorded any necessary adjusting entry relating to the grocers' supply corporation bonds. the market price of the bonds were $4,000 per bond. 2019 jan. 5 sold the grocers' supply corporation bonds for $395,000. required: prepare the appropriate journal entry or entries for each transaction. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)

Speedy auto repairs uses a job-order costing system. the company’s direct materials consist of replacement parts installed in customer vehicles, and its direct labor consists of the mechanics’ hourly wages. speedy’s overhead costs include various items, such as the shop manager’s salary, depreciation of equipment, utilities, insurance, and magazine subscriptions and refreshments for the waiting room. the company applies all of its overhead costs to jobs based on direct labor-hours. at the beginning of the year, it made the following estimates: direct labor-hours required to support estimated output 20,000 fixed overhead cost $ 350,000 variable overhead cost per direct labor-hour $ 1.00 required: 1. compute the predetermined overhead rate. 2. during the year, mr. wilkes brought in his vehicle to replace his brakes, spark plugs, and tires. the following information was available with respect to his job: direct materials $ 590 direct labor cost $ 109 direct labor-hours used 6