Journalize the following entries. Dec. 1 Purchased raw materials from Sheffield Supply Company on account for $53,100.
Dec. 2 Issued $40,400 of direct materials from the companyâs inventory to jobs other than K52 and J57 and $3,000 of indirect materials.
Dec. 12 Paid Waterwaysâ factory salaries and wages for $65,100.
Dec. 13 Paid the factoryâs water bill of $8,900.
Dec. 18 Transferred $50,500 of costs from other completed jobs to finished goods.
Dec. 21 Paid the factoryâs electric bill of $12,000 for Waterwaysâ factory.
Dec. 31 Made adjusting entries forth factory that included accrued property taxes of $11,900, prepaid insurance of $8,700, and accumulated depreciation of $15,900.

Colah company purchased $1.8 million of jackson, inc. 8% bonds at par on july 1, 2018, with interest paid semi-annually. when the bonds were acquired colah decided to elect the fair value option for accounting for its investment. at december 31, 2018, the jackson bonds had a fair value of $2.08 million. colah sold the jackson bonds on july 1, 2019 for $1,620,000. the purchase of the jackson bonds on july 1. interest revenue for the last half of 2018. any year-end 2018 adjusting entries. interest revenue for the first half of 2019. any entry or entries necessary upon sale of the jackson bonds on july 1, 2019. required: 1. prepare colah's journal entries for above transaction.

Strawberry plants reproduce by

Which of the following statements is correct? large corporations are taxed more favorably than sole proprietorships. corporate stockholders are exposed to unlimited liability. due to limited liability, unlimited lives, and ease of ownership transfer, the vast majority of u.s. businesses (in terms of number of businesses) are organized as corporations. most businesses (by number and total dollar sales) are organized as partnerships or proprietorships because it is easier to set up and operate in one of these forms rather than as a corporation. however, if the business gets very large, it becomes advantageous to convert to a corporation, mainly because corporations have important tax advantages over proprietorships and partnerships. most business (measured by dollar sales) is conducted by corporations in spite of large corporations’ often less favorable tax treatment, due to legal considerations related to ownership transfers and limited liability.