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Accounting Questions and Answers March 16, 2012

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[ The following information applies to the questions displayed below. ] Forten Company's current year income statement, comparative balance sheets, and additional information follow. For the year, ( 1 ) all sales are credit sales, ( 2 ) all credits to Accounts Receivable reflect cash receipts from customers, ( 3 ) all purchases of inventory are on

Problem 3: Sizing for Performance and Energy Assume the inverters are implemented in standard CMOS and have symmetrical VTC. Assume Cintrinsic = Cgate (r= 1). Equivalent resistance and input capacitance of the unit-sized (S= 1) inverter are R and C, respectively. Sizing factor S2 1. tpo is the parasitic delay of a unit inverter. a. Pick the best
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What is the End Retained Earnings for the Corporation at the end of the year? 1 9 5 0 0 9 5 0 0 2 9 5 0 0 0

Salmone Company reported the following purchases and sales for its only product. Salmone uses a periodic inventory system. Determine the cost assigned to cost of goods sold using LIFO. Date Activities Units Acquired at Cost Units Sold at Retail May 1 Beginning Inventory 160 units @ $11 5 Purchase 225 units @ $13 10 Sales 145 units @ $21 15

Included in picture Exercise 8-4 Direct Materials Variances [LO8-4] Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the company's products, a football helmet for the North American market, requires a special plastic. During the quarter ending June 30 the company manufactured 3,200 helmets, using 2,368 kilograms of
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. Following is the unadjusted Trail balance of Dhananjay Sanskruti Twinkle & Co as on 31.03.2021 Sales 215200 Sales Return 5000 Sales Discount 1200 Purchase 80000 Purchase return and allowances 9500 Purchase discount 2500 Freight In 3300 Salary and wages 11000 Rent 6000 Interest 1200 Office furniture 50000 Inventory 15000 Bills Receivable 13000

Which of the following statements is correct regarding common stock? Multiple choice question. Common stock does not affect equity. Common stock causes creditor debt to increase. Common stock causes equity to increase. Common stock causes assets to decrease.

Becton Labs, Inc., produces various chemical compounds for Industrial use. One compound, called Fludex, is prepared using an elaborate distilling process. The company has developed standard costs for one unit of Fludex, as follows: Direct materials Direct labor Variable manufacturing overhead Total standard cost per unit Standard Quantity or Hours
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Marc, a single taxpayer, earns $61,600 in taxable income and $5,160 in Interest from an Investment in city of Birmingham bonds. Using the U.S. tax rate schedule for 2020, what is his average tax rate? (Round your final answer to two decimal places.) (Use tax rate schedule. Multiple Choice 15.17 percent 14.02 percent O 11.53 percent O 22.19 percent
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Cottage Co deposits all cash receipts on the day when they are received and it makes all cash payments by check. At the close of business on December 31, its Cash account shows a debit balance of $19,053. The company's bank statement as of December 31 shows an ending cash balance of 516,221. The following information was also available.
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BE 1 . 2 6 ( LO 4 ) Explain the impact of digitization of information on the accounting profession.

Stuart Manufacturing Corporation was started with the issuance of common stock for $50,000. It purchased $7,700 of raw materials and worked on three job orders during Year 1 for which data follow. (Assume that all transactions are for cash unless otherwise indicated.) Direct Raw Materials Used Direct Labor Job 1 $ 1,500 $ 2,200 Job 2 2,300 3,900
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1. Choose the subaddress "About the SEC." What are the two basic objectives of the 1933 Securities Act? Note: You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a
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Current Attempt in Progress Pharoah Technologies Inc. reported the following information related to its shareholders' equity on January 1 : During the year, the following transactions related to common shares occurred in the order listed: Issued 4 0 , 0 0 0 shares at $ 4 . 2 0 per share. Reacquired 1 0 , 0 0 0 shares at $ 3 . 0 0 per share. Issued
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Required: Prepare Acme Supply Company's general journal entries for the following transactions: Jan. 1 Accepted RunTimeCo's 120-day, 10% note as settlement of an outstanding $15,000 account receivable for goods sold last year. Jan. 15 Purchased $10,000 Equipment from XYZ, signing a 9-month, 12% note. Jan. 15 Loaned Warner Co. $30,000 cash,

When comparing financial and managerial accounting, financial accounting is more likely to emphasize Blank _ _ _ _ _ _

Problem 10-18A (Algo) Postaudit evaluation LO 10-2 Brett Collins is reviewing his company's Investment in a cement plant. The company paid $15.000.000 five years ago to acquire the plant. Now top management is considering an opportunity to sell it. The president wants to know whether the plant has met original expectations before he decides its
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Using the following: US $84,000 Meter Reading 26,109 Hours Serial # KPZ00698 Cost of Capital 10% (due to age of equipment) Hurdle rate 10% Cash Flow $10,500 per year for 10 years Depreciation 40,000 hours, Salvage $4,000, annual hours 4,000 Company cannot use financing sources available under its cost of capital average with local banks and lendin

Please show your work Accounting Magic Inc End of Period Worksheet For the Year Ended December 31. 2018 Adjusted Trial Balance Unadjusted Adjustments CR Trial Balance DR 330,000 694,980 5 Account Title CR DR DR CR 7 Cash 8 Accounts Receivable 9 Allowance for Doubtful Accounts 10 Interest Recelvable 11 Merchandise Inventory 12 Prepaid Insurance 13
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Please help! Thank you Emmons Lawn Maintenance (ELM) provides lawn and garden care for residential properties. In the current year, ELM maintains 83 properties and earns an average of $6,600 annually for each property. The owner of ELM is planning for the coming year. New building in the area is expected to increase volume by 28 percent. In
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Joe is a partner in Above the Clouds, LLC in which he actively participates. His 2021 K-1 showed his share of the loss to be ($54,000). His basis in the partnership prior to the current year loss was $48,000. Joes K-1 also reported his share of interest income to be $1,100. What is the gain or loss on sale of Above the Clouds LLC?

Sunny's Emporium's articles of incorporation authorize 2 5 0 , 0 0 0 shares of no par value stock. So far, Sunny Fields has sold 1 0 0 , 0 0 0 shares of stock to family and friends for $ 1 per share. Sunny's Emporium had the following transactions in June, 2 0 2 4 , the final month in their fiscal year: TRANSACTIONS June 1 The company had

Westerville Company reported the following results from last years operations: Sales $ 1,000,000 Variable expenses 300,000 Contribution margin 700,000 Fixed expenses 500,000 Net operating income $ 200,000 Average operating assets $ 625,000 At the beginning of this year, the company has a $120,000 investment opportunity with the following cost and

necessary, round numbers up to the nearest whole dollar. (Round the tax calculation to the nearest thousand dollars. Use parentheses or a minus sign when entering a net decrease in cash) Question content area bottom Part 1 2022 2021 Income Statement (in Thousands) Revenues $14,850 Cost of goods sold 11,010 Other expenses 1,290 1,170 Income before
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A single taxpayer who is itemizing deductions for the year can claim a deduction for:

The statistical section of the city of Taliahassee's CAFR for the fiscal year ended September 30,2019 contains several schedules regarding the city's outstanding debt. Assume one schedule shows that the outstanding tax-supported debt at September 30,2019 was 5192,430 thousand. Other schedules show the following statistics. The statistical section
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Question #76 Operations Management TechSpecs uses Irate sensors made by The Irving Corporation in several of its products. TechSpecs would like to use last year's demand for its products to better manage next year's inventory levels of Irate sensors. Last year, the average daly use of rate was 15,164 and the average delivery lead time was 30 days
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1. lowa Corporation issued a $500,000 bond at 99% on January 1, 2020. The bond has a two year life and pays 6% interest annually. Required: Prepare the appropriate journal entries for 1-1-20; 12-31-20; 12-31-21 and 1-1-22. 2. Colorado Corporation Issued a $600,000 bond at 102%. The bond has a two year term and pays 7% interest annually. Required:
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Questions 016: Consider Khalid (who is long) and Yousuf (who is short) in the contract for 100 ounces of gold. At the beginning of the day, the contract specified a price df $400per ounce Assuming initial Margin-10% of the contract value and maintenance margin as 75% of initial margin. Please calculate the MTM effect and Margin call for Khalid and
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Break-Even Sales and Sales to Realize Income from Operations For the current year ended October 31, Friedman Company expects fixed costs of $466,000, a unit variable cost of $42, and a unit selling price of $62. a. Compute the anticipated break-even sales (units). units b. Compute the sales (units) required to realize income from operations of
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Merchandising companies purchase merchandise that is in a finished goods state, ready to sell to customers. How is revenue recorded by these companies, and what account title is used for the revenue account? Two inventory systems may be used. How do the perpetual and periodic inventory systems differ?

Turf Leaders, a football turf manufacturing firm, is in need of an installation superintendent whose primary responsibilities involve organizing, supervising, and inspecting the work of several subcontractors. Turf Leaders administers an installationerror recognition testwhere an applicant has to enter a shed that has 2 5 installation errors and

5. Here is a slightly complicated version to the game we discuss in the class. Suppose there are four questions Q1, Q2, Q3 and Q4, which are associated with a reward of $300, $3,000, $30,000, and $90,000, respectively. There is a challenger, denoted by CH. The rule is as follows: (a) CH initially is at the state Q1 and has $0 at hand; (b) When
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Question 3 EMAAR Plc had supplied the following information from their accounts for year ended December 2022. Required: Calculate a.) Degree of Operating leverage (DOL) b.) Degree of Financial leverage (DFL) c.) Degree of Combined leverage (DCL)
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Which of the following would most likely use job order costing? a . paper mill b . swimming pool installer c . oil refinery d . company that manufactures chlorine for swimming pools
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View Policies Current Attempt in Progress All of the financial statements are for a period of time except the income statement. retained earnings statement. statement of cash flows. balance sheet.
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Required: Gleason Guitars produces acoustic guitars. The table below contains budget and actual information for the month of June: Note: Indicate the effect of each variance by selecting " F " for favorable, " U " for unfavorable, and "None" for no effect ( i . e . , zero variance ) . \ table [ [ Direct Material, \ table [ [ Actual Costs ] , [ 3 2
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Vaughn Corporation bought a new machine and agreed to pay for it in equal annual installments of $ 5 , 5 7 0 at the end of each of the next 1 0 years. Assuming that a prevailing interest rate of 8 % applies to this contract, how much should Vaughn record as the cost of the machine? ( Round factor values to 5 decimal places, e . g . 1 . 2 5 1 2 4
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Waterway Toys & Games, Inc. manufactures specialty toys. Waterway uses a traditional product costing system to assign overhead costs uniformly to all products. To meet industry safety standards and to assure its customers of safe and durable toys, Waterway assigns its quality-control overhead costs to all products at a rate of 21% of direct labor

On the Fed balance sheet, reserves consist of Blank _ _ _ _ _ _ and Blank _ _ _ _ _ _ .

Problem 2 - 4 A ( Algo ) Preparing job cost sheets, recording costs, preparing inventory ledger accounts LO P 1 , P 2 , P 3 [ The following information applies to the questions displayed below. ] Watercraft's predetermined overhead rate is 2 0 0 % of direct labor. Information on the company's production activities during May follows. a . Purchased
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BE8-10 Presented below are data on three promissory notes. Determine the missing amounts. (b) What is the cash realizable value of the accounts receivable (1) before the write-off and (2) after the write-off? BE8-5 Assume the same information as BE8-4. On March 4, 2018, Endrun Ltd. receives Prepare entries for collection payment of 6,200 in full
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Angela wants to take the next four years off work to travel around the world. She estimates her annual cash needs at $27,000 (if she needs more, she will work odd jobs). Angela believes she can invest her savings at 10% until she depletes her funds. (Click the icon to view Present Value of \$1 table.) (Click the icon to view Present Value of
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Harriet and Harry Combs (both 37 years old) are married and both want to contribute to a Roth IRA. In 2017, their AGI is $50,000. Harriet earned $46,000 and Harry earned $4,000 (Leave no answer blank. Enter zero if applicable.) c. How much can Harry contribute to his Roth IRA if they file separately?

Please answer C&D Please answer A&B a. What is the total dollar amount of any sunk costs in the data.s b. What is the total dollar amount of any irrelevant (nondifferential) future costs. $ c. What is the total dollar amount of all relevant costs to the equipment replacement decision. d. What is the total dollar amount of the opportunity costs
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3. A package delivery service adopted a new dispatching system to try to reduce the total mileage required by its truck fleet to make deliveries. The new system would be worth the cost if it reduced the fleet mileage by more than 5% from its current level of 2420 miles per day. The miles required for each of the 49 days under a trial of the new

A record of transactions for the month of March was as follows: Purchases Sales March 1 (balance) 400 @ $5.00 Jan 3 200 @ $7.00 8 1,300 @ $5.10 12 1,000 @ 7.50 18 800 @ $5.30 24 900 @ 8.50 28 700 @ $5.40 Assuming that perpetual inventory records are kept in dollars, determine the ending inventory and cost of goods sold for FIFO, LIFO and moving

The Sports Equipment Division of Sarasota Company is operated as a profit center. Sales for the division were budgeted for 2022 at $972,000. The only variable costs budgeted for the division were cost of goods sold ($475,200) and selling and administrative ($64,800). Fixed costs were budgeted at $108,000 for cost of goods sold, $97,200 for selling
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Started in process- 36,000 units Completed and transferred- 24,000 units Completed and on hand- 8,000 units In process, end (3/4 completed)- 4,000 units Materials are applied 60% when the process is started and 40% when the process reaches 80% completion. Labor and overhead are applied evenly. The production costs for the month of April were the

I need help please Fiske Corporation manufactures a popular regional brand of kitchen utensils. The design and variety has been fairly constant over the last three years. The managers at Fiske are planning for some changes in the product line next year, but first they want to understand buggest that overhead theen activity and factory costs as
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All of the following are statutory deductions paid to the federal government, except: Medicare Unemployment training ETT Social security
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Regular price -- a. $30.00 b. $149.00 c. $199.00 d. $69.00 Markdown price = $19.99 $109.99 $149.98 $29.95 MD $ x Units sold = 1,275 480 350 720 Total MD $ MD % to customer = MD $ x 100 Original price \begin{tabular}{|l|c|l|l|l|l|} \hline Regularprice & Markdownprice= & MD \$ & Units sold = & Total MD \$ & MD%tocustomer=MD$100Originalprice \\
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From an ABC perspective, what causes overhead cost to be incurred? Multiple Choice Financial transactions. The volume of units produced. Debits and credits. Prev 2 of 3 1 Next Search
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! Required information [ The following information applies to the questions displayed below ] Project Y requires a $ 3 1 2 , 0 0 0 investment for new machinery with a four - year life and no salvage value. The project yields the following annual results. Cash flows occur evenly within each year. ( PV of $ 1 , FV of $ 1 , PVA of $ 1 , and FVA of $
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Ellis Dover is a scout for a Major League Baseball team based in Phoenix, Arizona. Ellis needs to travel to Los Angeles, California on June 1 to perform a variety of professional functions prior to the team travelling to Los Angeles to play. If Ellis flies, he could catch a 6 a.m. flight on June 1. In order to perform all of his professional
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On June 1 of the current year, Chris Bates established a proprietorship to manage rental property. The following transactions were completed during June: a . Opened a business bank account with a deposit of $ 2 8 , 0 0 0 in the name of Bates Realty. b . Purchased office supplies on account, $ 2 , 6 7 0 . c . Received cash from fees earned for
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Current Attempt in Progress Pronghorn Company produces and sells automobile batteries, the heavy-duty HD-240. The 2017 sales forecast is as follows. Quarter HD-240 1 5,100 2 7,490 3 8,330 4 10,350 The January 1, 2017, inventory of HD-240 is 2,040 units. Management desires an ending inventory each quarter equal to 40% of the next quarters sales.

S&H INC Jack Tar ,CFO of S&H Inc, opened a confidential envelope.It contained a draft of a competitive bid for a contract to supply duffel canvas to the U.S. navy.The CEO of S&H company asked Mr.Tar to review the bid before it was submitted.The bid was prepared by the sales staff. It called for S&H to supply 100,000 yards of duffel canvas per year

Pentucket Computer Company uses a job order costing system in which each batch manufactured is a different job. Pentucket Computer Company assigns direct materials and direct labor to each job. The company assigns labor costs at $15 per hour. It allocates manufacturing overhead to jobs based on a predetermined overhead allocation rate, computed as
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blossom corporation reports the following information: blossom should reports earnings per share of

Explain how the payroll onboarding processes function within accounting information systems.

What are the performance measures calculated for? Goodwill Food for the Poor American Cancer Society YMCA World Vision

Average Rate of Return Method, Net Present Value Method, and Analysis for a service company The capital investment committee of Arches Landscaping Company is considering two capital investments. The estimated income from operations and net cash flows from each investment are as follows: Front-End Loader Greenhouse Year Income from Operations Net

J Wright, a sole trader, extracted the following trial balance from his books at the close of business on 31 March 2020. Trial Balance as at 31 March 2020 Debit (RM) Credit (RM) Purchases 61,420 Sales 127,245 Inventory as at 1 April 2019 7,940 Capital as at 1 April 2019 25,200 Bank overdraft 2,490 Cash 140 Discounts received 62 Discount allowed

Required informotion Use the following information for the Exercises below. The following information applies to the questions displayed below] DYR Company has one employee. HCA Social Security taxes are 6.2% of the first $160.200 paid to each employee, and FICA Medicare taxes are 1,45\% of gross pay. For DYR, its FUTA taxes are 0.6% of the first
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If an asset's q , is greater than its current book value, a gain on disposal occurs. original book value amount of depreciation disposal value original market value
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How would WDB ' s June 1 , 2 0 2 2 , purchase of the 1 1 6 cattle in Pen 2 3 1 affect the accounting equation? There would be no overall effect on the accounting equation because the increase in assets of $ 7 3 , 6 0 0 is offset by a decrease in assets of $ 7 3 , 6 0 0 . Assets would increase by $ 7 3 , 6 0 0 and Liabilities would increase by $ 7
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A machine costs P 8,000 which last for 7 years with a salvage value at the end of its life of P 355. Determine the depreciation charge during the 4th year and the book value at the end of 4 years by: (a) Modified Accelerated Cost Recovery System (MACRS)
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Excel 2 0 2 1 In Practice - Ch 2 Advanced Project 2 - 7

Profitability ratios The following selected data were taken from the financial statements of Vidahill Inc. for December 3 1 , 2 0 Y 7 , 2 0 Y 6 , and 2 0 Y 5 : \ table [ [ , \ table [ [ December 3 1 ] , [ 2 0 Y 7 ] ] , \ table [ [ December 3 1 ] ] , \ table [ [ December 3 1 ] ] ] , [ Total assets,$ 2 7 9 , 0 0 0 , $ 2 5 1 , 0 0 0 , 2 0 Y 5 ] , [
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What is goodwill? What are the major features of goodwill?

Instructions - recreate the brochure in the example in the included PDF file. Go to the Layout menu and change the columns from one to three columns. Change the orientation from portrait to landscape. Change the margins from 1 inch all the way around to .5 inch. Highlight all headings as shown in the example so that they are purple in color and
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An accrual method taxpayer who receives a note in payment for services has income in the year of receipt equal to the fair market value of the note. Group of answer choices True False

When is an individual required to file a tax return?

On January 1, 2019, Alpha acquired 80 percent of Delta. Of Delta's total business fair value, $224,000 was allocated to copyrights with a 20-year remaining life. Subsequently, on January 1, 2020, Delta obtained 70 percent of Omega's outstanding voting shares. In this second acquisition, $148,200 of Omega's total business fair value was assigned to

1. Fully explain the following types of regulations and their legal effect: a. Legislative b. Interpretive c. Procedural

Variable costs ________. A. increase in total when the actual level of activity increases B. are never considered a part of prime cost C. are always indirect costs D. include most personnel costs and depreciation on machinery

Help Save & Wang Co. manufactures and sells a single product that sells for $320 per unit, variable costs are $176 per unit. Annual fixed costs are $927,000. Current sales volume is $4,260,000. Compute the current margin of safety in dollars. Multiple Choice $1,550,150 O $3,311,562 0 $2,060,000
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Jack Tar ,CFO of S&H Inc, opened a confidential envelope.It contained a draft of a competitive bid for a contract to supply duffel canvas to the U.S. navy.The CEO of S&H company asked Mr.Tar to review the bid before it was submitted.The bid was prepared by the sales staff. It called for S&H to supply 100,000 yards of duffel canvas per year for 5

Jeff Martin performed web design services totaling $ 5 , 0 0 0 in the current month. By the end of the month he has received payment for half of this amount.

show work please 10 pts Question 5 Espresso Company issued $5,000,000 of 6%, 10-year bonds on one of its interest dates for $4,318,500 to yield an effective annual rate of 8%. The bond was issued at a discount. The effective interest method of amortization is to be used. Prepare the journal entry to record the second interest payment 10 pts
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Which of the following is not true? a. An electricity bill is an example of mixed costs. The fixed portion represents the cost of having the service available and the variable cost is reflective of actual customer usage. b. Mixed costs are also known as semi-variable costs. c. Mixed costs are comprised of both fixed costs and variable costs, and

Rocky, the CEO of Armstrong Corporation, is considering decentralization. Which of the following should Rocky NOT considered a benefit of decentralization? Top-level managers are better able to focus on individual business units Empowers employees and generally increases job satisfaction Permits timely decisions with the best line-level
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TB TF Qu . 1 2 - 1 7 ( Static ) Companies must always use the equity method... Companies must always use the equity method when they hold between 2 5 % and 5 0 % of the common stock of an investee. True or False
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(a) Explain the difference between a process and product innovation. (b) How does a process innovation (that lowers constant marginal cost) affect a monopolist's choice of price and quantity? Use a diagram to answer this question. (c) In a static setting, does economic theory suggest that a monopolist has more incentive to develop a process
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Distinguish data from information, discuss the characteristics of useful information. ( 5 marks ) Draw an organogram and discuss how the information is shared and disseminated in the organisation. ( 5 marks ) What is an AIS and describe its basic functions. ( 5 marks ) Identify the different components of AIS and for each discuss its function. ( 5
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Please answer A, B, C, D, E, F, G, H Jackmur Inc is preparing budgets for the upcoming quarter. April to June. Budgeted sales in units) for the next five months are: . April 14,100 May 27.300 June 25,200 July 18,600 August 17.700 Below is additional information that may be relevant in preparing the budgets The company produces and sells a product
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Instructions: You must turn in the work performed on the sheets printed with this page. This WILL NOT BE ACCEPTED ON PLAIN PAPER Write the journal entries (on the following General bural page required for each of the events described below. Write the entries in the order described below (01.18). Use ONLY the accounts listed on the trial balance
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What type of accounting system is used in which a transaction need not involve a case transfer to be recorded? Multiple Choice cash - based cheque - based accrual - based break - even - based

Tamkang Company purchased a batch of inventory in the form of delivery at destination, the purchase price was 3 million yuan, and paid the freight company in advance to send the goods to the supplier. The shipping fee for delivery to the central warehouse of Tamkang Company is 20,000 yuan. Tamkang Company will pay another 10,000 yuan after the

RC_ Models Company sells its products plastic models (aircraft, ships, and cars) and add- on decals for those models through its Internet Web site, www. Rc_models. com. Models and decals are available in scales that vary from 1/ 144 to 1/ 32. Customers use the Web site to select the products and to pay by credit card. If a product is not currently

Please Solve requirements. Thank you! will upvote! Top managers of Enterainment Plus are alarmed by their operating losses. They are considering dropping the DVD product line. Company accountants have prepared the following analysis to help make this decision: Click the icon to vew the analysis.) Total fixed coats will not change if the compary
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Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $24,400, direct labor $14,640, and manufacturing overhead $19,520. As of January 1, Job 49 had

Required: Create a cash flow statement for Contest Company, for the year ended December 31, 2015, on the spreadsheet provided. Comment on the company's financial performance with respect to major items affecting cash. Additional Information: - The company had a net income of $60 000 in 2015. - Equipment costing $21 000 was purchased. - 1 500

Adonis Corporation issued 10-year, 7% bonds with a par value of $130,000. Interest is paid semiannually. The market rate on the issue date was 6%. Adonis received $139,674 in cash proceeds. Which of the following statements is true? Adidas must pay $130,000 at maturity plus 20 interest payments of $4,550 each. Adidas must pay $139,674 at maturity

help help hw asap Pureform, Incorporated, uses the weighted average method in its process costing system. It manufactures a product that passes through two departments. Data for a recent month for the first department follow Overhead $ 21,000 Units started in process $ 259,370 Unita Materials Labor Work in process Inventory, beginning 60,000 $
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29 Poloki Corp sold parcel of land valued at $300,000. Its basis in the land was $250,000. For the land. Peloki received $150, 000 in cash in the current year and a note providing Peloki with $150, 000 in the subsequent year. subsequent year, respectively? What is Peloki's recognized gain in the current and A. $o, $50, 000. B. $10, 000, $40, 000.
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A company has the following financial results for a recent year: What is the company's degree of operating leverage? (Round your final answer to two decimal places.)
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be3-6 BE3-5 On July 1, 2017, Dobbs Co. pays $14,400 to Kalter Insurance Co. for a 3-year insur- ance contract. Both companies have fiscal years ending December 31. For Dobbs Co., journalize and post the entry on July 1 and the adjusting entry on December 31. oP r BE3-6 Using the data in BE3-5, journalize and post the entry on July 1 and the
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please show how ro use table On 1 January 2005. Franco Ltd. purchased $490,000 of Gentron Company 5.00% bonds. The bonds pay semi-annual interest each 30 June and 31 December. The market interest rate was 6% on the date of purchase. The bonds mature on 31 December 2010 (PV of $1. PVA of $1. and PVAD of S1) (Use appropriate factor(s) from the
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