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Accounting Questions and Answers December 28, 2015

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Required information [The following information applies to the questions displayed below.] Marco Company shows the following costs for three jobs worked on in April. Additional Information a. Raw Materials Inventory has a March 31 balance of $85,600. b. Raw materials purchases in April are $514,000, and total factory payroll cost in April is
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How much are you willing to pay for one share of stock if the company just paid an $.80 annual dividend, the dividends increase by 4% annually and you require an 8% rate of return

Point Company acquired 80 percent of the stock of Slash Corp. on January 1, 2019. The stockholder's equity section of Slash's balance sheet at that date is as follows: Stockholders Equity Section Point Slash Common Stock 600,000 $200,000 Additional Paid in Capital 1,000,000 400,000 Retained Earnings 800,000 600,000 Accumulated Other comprehensive

Waterways has two major public-park projects to provide with comprehensive irrigation in one of its service locations this month. Job J77 and Job K52 involve 15 acres of landscaped terrain which will require special-order sprinkler heads to meet the specifications of the project. Using a job cost system to produce these parts, the following events
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is this correct? plz help Stocks that pay little or no cash dividends but are attractive to investors because of expected stock price increases are known as: Small capital stocks. Mid capital stocks. Growth stocks. Large capital stocks. Income stocks
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Esfandazi Enterprises is considering a new three.year expansion project that requires an initial foxed asset invesiment of $2.380.000 The fixed asset falls into the three-year MACRS class (MACRS schedule). The project is estimated to generate $1,760,000 in annus soles, with costs of $660,000. The project requires an initial imvestment in net
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Alignment Number Styles 24 Davis & Bell began a health clinic as a corporation in 2014. Several transactions which occurred early in 2014 are descibed below. Record each transaction in proper journal entry form, excluding written explanations. 5 Required: 5 points each 6 Record each transaction in proper journal entry form,excluding written
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Required information Skip to question [The following information applies to the questions displayed below.] Allied Merchandisers was organized on May 1. Macy Company is a major customer (buyer) of Allied (seller) products. May 3 Allied made its first and only purchase of inventory for the period on May 3 for 2,000 units at a price of $12 cash per

Please help me figure out a3 and b of this accounting homework. Thank you! Cost of Production and Journal Entries Item Lighthouse Paper Company manufactures newsprint. The product is manufactured in two departments, Papermaking and Converting. Pulp is first placed into a vessel at the beginning of papermaking production. The following information
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Tony started Dream Consulting on 1 July 2019. During the first month of operations, the business completed the following transactions. 1 July Tony invested $50,000 cash in the business. 1 July Paid office rent of $48,000 for two years. 1 July Paid $1,200 for fire insurance for one year. 3 July Purchased office supplies for $500 on account. 5 July

Ramort Company reports the following cost data for its single product. The company regularly sells 17,000 units of its product at a price of $54.00 per unit. $ 9.40 per unit $ 11.40 per unit Direct materials Direct labor Overhead costs for the year Variable overhead Fixed overhead per year Selling and administrative costs for the year Variable
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The management of Unter Corporation, an architectural design firm, is considering an investment with the following cash flows: Year 1 2 3 Investment $65,000 $ 5,000 4 5 6 7 8 9 10 Cash Inflow $ 5,000 $10,000 $20,000 $22,000 $25,000 $23,000 $21,000 $19,000 $18,000 $18,000 Required: 1. Determine the payback period of the investment. 2. Would the
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On January 1, 2021, Bishop Company issued 10% bonds dated January 1, 2021, with a face amount of $19.1 million. The bonds mature in 2030 (10 years). For bonds of similar risk and maturity, the market yield is 12%. Interest is paid semiannually on June 30 and December 31. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use

TB MC Qu. 14-123 (Algo) On February 1, 2020, Pat Weaver Inc... 19 On February 1, 2020, Pat Weaver Inc. (PW) issued 7%, $2,000,000 bonds for $2,200,000. PWI retired all of these bonds on January 1, 2021, at 103. Unamortized bond premium on that date was $206,000. How much gain or loss should be recognized on this bond retirement? 5 po S: Multiple
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Following are comparative balance sheets for Millco Inc. at January 31 and February 28, 2020: MILLCO INC. Balance Sheets February 28 and January 31, 2020 February 28 January 31 $ 50,400 76,800 97,200 $ 224,400 $ 44,400 63,600 112,800 $ 220, 800 199, 200 (28,800) $394,800 182,400 (25, 200) $378,000 Assets Cash Accounts receivable Merchandise
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35. The Law of Diminishing Returns affects the shape of the Step Variable Cost function True False 36. In Plantwide Overhead rate, the assumption is overhead is determined by direct labour hours and changes in direct proportion True False 37. In ABC Costing, the whole concept revolves around overhead cost allocation. True UU False 38. The Theory
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Which of the following is not sometimes associated with bonds?Answer Debenture. Callable. Cumulative. Convertible

10.6 The managers of United Medtronics are evaluating the following four projects for the coming budget period. The firms corporate cost of capital is 14 percent. Project Cost IRR A $15,000 17% B. 15,000 16 C 12,000 15 D 20,000 13 a. What is the firms capital budget? b.Now, suppose Medtronicss managers want to consider differential risk in the

Questions 4 and 5 refer to the following information: Near the end of 2020, X Company had produced and sold 64,900 units of its only product. Costs for these units were: Direct materials Direct labor Variable overhead Fixed overhead Variable selling and administration Fixed selling and administration Total Total $ 155,760 90,860 181,720 123,310
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thumbs up for quick accurate work always. help pls :) Required information [The following information applies to the questions displayed below.) Coney Island Entertainment issues $1,200,000 of 6% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. Calculate the issue price of a bond and complete the
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a. A new operating system for an existing machine is expected to cost $620,000 and have a useful life of six years. The system yields an incremental after-tax income of $190,000 each year after deducting its straight-line depreciation. The predicted salvage value of the system is $22,400. b. A machine costs $520,000, has a $25,100 salvage value,
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Check my work 5 a. Raw materials used in production. b. Direct labor costs incurred. c. Manufacturing overhead costs incurred for the entire factory, $686,000. (Credit Accounts Payable.) d. Manufacturing overhead was applied to production using a predetermined overhead rate. e. Units that were complete with respect to processing in the Refining
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Prepare journal entries to record the transactions described above. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) : $ During 2025, Marigold took part
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Cou are the CPA for Mr. Passmore's sole proprietorship. Mr. Passmore tells you on day 1 that he obtained a commercial loan for $100,000, and he deposited the money into the bank account of the sole proprietorship. Also, on day 1 he tells you that he wants you to write him a check for $100,000.00 on day 2 because on day 2 he is going to buy
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Allocating Joint Costs Using the Weighted Average Method Allocating Joint Costs Using the Weighted Average Method Orchard Fresh, Inc., purchases apples from local orchards and sorts them into four categories. Grade A are large blemish-free apples that can be sold to gourmet fruit sellers. Grade B apples are smaller and may be slightly out of
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Please help! I am so confused! upon the principles and rules of U.S. Generally Accepted Accounting Principles (GAAP). Business activity is recorded on an accrual basis. The company employs the perpetual inventory system in accounting for its merchandise inventory. The company operates using a January through December fiscal year. The balances of
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Prepare journal entries to record the following merchandising transactions of Martin's, which uses the perpetual imventory system and the gross method. Joly 1 Purchased merchandise from Conzalez Company for $8,200 under eredit terne of 1/15, n/30, roa abipping point, Jaly 2 Sold merehandise to Ryan Company for $2,000 under exedit terna of
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Chapt Standard Costs and Overhead Analysis er lo Reysared budgeted contribution margin for each model. Calculate the following variances: d. Sales mix. Sales price h Market volume. c Market share Sales quantity PROBLEM ?0C-2 Variance Analysis rtoto! HEd Basy produces two types of mattresses Regular and Heavenly. Budgeted and actual data for 2015
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Exercise 10 -2 The cost of direct materials for one snowboard is estimated to be $80. On January 1, 2008 the balance in raw materials inventory totaled $14,400. Alpine desires to have 20 percent of the next quarter's production needs on hand at the produce 1,136 snowboards in the first quarter of 2009. Therefore, the ending inventory in direct
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Shauna Coleman is single. She is employed as an architectural designer for Streamline Design (SD). Shauna wanted to determIne her taxable Income for thls year. She correctly calculated her AGl. However, she wasn't sure how to compute the rest of her taxable Income. She provided the following information with hopes that you could use It to
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Required information [The following information applies to the questions displayed below.] Raner, Harris and Chan is a consulting firm that specializes in information systems for medical and dental clinics. The firm has two offices-one in Chicago and one in Minneapolis. The firm classifies the direct costs of consulting jobs as variable costs. A
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The amounts below appeared in the Income Statement and Balance Sheet columns of a company's December 31 work sheet. In the space provided give without explanation the closing entries on December 31. Trial Balance Debit Credit Assets other than merchandise 7500 Accounts receivable 4500 Liabilities 3000 Common Stock 7500 Dividends 1500 Sales 19,500

of Whit 30jalria Heit, co posteriaf bi 3.Weqcireifificewhihevehonimend aher ina ited. at year exiti tnetructiont 19imet:- of Whit 30jalria Heit, co posteriaf bi 3.Weqcireifificewhihevehonimend aher ina ited. at year exiti tnetructiont 19imet
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While reviewing the March 31, 2014, balance sheet of Success Systems, Adria Lopez notes that the business has built a large cash balance of $77,845. Its most recent bank money market statement shows that the funds are earning an annualized return of 0.75%. Adria Lopez decides to make several investments with the desire to earn a higher return on

How would I answer problem 2? 2. Ganon Co. applies overhead based on machine hours. They have an applied overhead of $80,000 and actual overhead of $75,000 for the month of October. In October, the total number of direct labor hours was 2,000 and the total number of machine hours was 9,000. Overhead for the year was estimated to be $700,000. How
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12.2) Peach Company makes 3 products in a single facility. The products have the following unit costs: Products A B C Direct Materials 12.90 11.80 11.30 Direct Labor 5.70 5.20 8.10 Variable MOH 5.80 5.40 4.10 Fixed MOH 11.10 7.20 10.30 The following additional information is known about each product: Products A B C Packaging Minutes per unit 2.60

which one of the following is not an assumption of CVP analysis? all units produced are sold costs classifications are reasonably accurate factors other than changes in activity may affect costs the sales mix remains constant

Please help me to correct the wrong answers, thanks a lot! Large Ltd. purchased 75% of Small Company on January 1 , Year 6 , for $750,000, when the statement of financial position for Small showed common shares of $540,000 and retained earnings of $240,000. On that date, the inventory of Small was undervalued by $60,000, and a patent with an
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Help please! CB expects to produce and sell 2,350 bicycles per month in the coming year. The bicycles sell for $570 each. y 60%. In addition, it would be able to save $25,585 of fixed manufacturing costs; fixed nonmanufacturing costs would be unchanged. EQUIRED [Note: Round unit cost computations to two decimal places.] ositive number; if the
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M11-12 (Static) Using NPV to Evaluate Mutually Exclusive Projects (LO 11-5) Tremaine Company is considering two mutually exclusive long-term investment projects Project ABC would require an investment of $240,000, have a useful life of 4 years, and annual cash flows of $78,000. Project XYZ would require an investment of $230,000, have a useful
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In March of Year 2, Manny contributed the following two properties, which he acquired in February of Year 1, to Illinois Corporation in exchange for additional Illinois stock: (1) land having a $54,000 FMV and a $78,000 basis and (2) another property having an $89,000 FMV and a $74,000 adjusted basis.Illinois' employees use the land as a parking

Sims Company began operations on January 1 . Its cost and sales information for this year follow. Direct materials Direct labor Variable overhead Fixed overhead Variable selling and administrative expenses Fixed selling and administrative expenses Units produced Units sold Sales price $ 4 0 per unit $ 6 0 per unit $ 3 0 per unit $ 7 , 0 0 0 , 0 0
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Can you have a look at the CLOSING ENTRIES at the end, where i put a red rectangle? and tell me if I answered correctly to the question? if not please provide me with the correct closing entries. ASAP, i have limited time to post this homework. Thanks At year-end, an analysis by the citys finance department determined the following constraints on
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Bargain Deal, Inc., is a leading retailer specializing in consumer electronics. A condensed income statement and balance sheet for the fiscal year ended January 28, 2017, are shown below. Bargain Deal, Ine. Balance Sheet At January 28, 2017 ($ in millions) Assets Current assets Cash and cash equivalents Short-term investments Accounts receivable
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The net income for 2018 reported by the accountant of OH MAH GAHD Company amounted to P634,500. Your audit of the accounts disclosed that the following accounts were not properly accounted: 2017 2018 Rent received in advance 22,500 30,000 Accrued Salaries 13,500 18,000 Prepaid Interest 33,750 45,000 Commission receivable 15,750 14,625 Depreciation

The Hospital for Healthy Living (HHL) financial statements are in the Excel file named CH18_Financials_Templates at this books companion website. During fiscal year 2019, HHL decides to outsource its information technology services to another company. By outsourcing, HHL will be able to get rid of certain services and staff that cost the hospital

At 1 July 2019, the balance in the Retained Earnings account of Melbourne Ltd was $3 500 000. The companys share capital at the 1 July 2019 comprises 400 000 6% preference shares issued for $2.00 per share and 1 400 000 ordinary shares fully paid at $1 per share. During the year ended 30 June 2020, the following events occurred: 1. On 1 February

(d) On October 1, 2017, Carla sold one of its super deluxe combination gas/charcoal grills to a local builder. The builder plans to install it in one of its "Parade of Homes" houses. Carla accepted a 3-year, zero-interest-bearing note with face amount of $5,058. The grill has an inventory cost of $2,691. An interest rate of 10% is an appropriate
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This is the problem we were given: And this is the template we are supposed to follow: The candy making department at MyChocoCrush Company provides you with the following information for October. All direct materials are placed in process at the beginning of production. The facts are: Beginning Work in Process 5,000 units (50% Completed) Purchases
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1) The Inouyes filed jointly in 2018. Their AGI is $78,000. They reported $2,000 of qualified business income and $22,000 of itemized deductions. They have two children, one of whom qualifies as their dependent as a qualifying child. The 2018 standard deduction amount for MFJ taxpayers is $24,000. What is the total amount of from AGI deductions

You are provided with the following information for Najera Inc. for the month ended June 30, 2014. Najera uses the periodic method for inventory. Date Description Units Unit Cost or Selling Price June 1 Beginning inventory 38 $41 June 4 Purchase 135 44 June 10 Sale 113 69 June 11 Sale return 14 69 June 18 Purchase 53 47 June 18 Purchase return 9

The following water and sewer fund information is available for the preparation of the financial statements for the City of Western Sands for the year ended December 31, 2020: Operating revenuescharges for services $ 17,387,000 Operating expenses: Personnel services 5,877,000 Contractual services 2,995,000 Utilities 888,000 Repairs and maintenance
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Statement of Cash Flows-Indirect Method The comparative balance sheet of Olson-Jones Industries Inc. for December 31, 20Y2 and 20Y1, is as follows: Dec. 31 20Y2 Dec. 31, 20Y1 Assets Cash Accounts receivable (net) $140 80 S0 115 6S (17) $45 57 31 129 50 Land Equipment Accumulated depreciation-equipment Total Assets Liabilities and Stockholders'
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Q.2. The following information is available from the financial records of Pascoe Ltd: Sales Purchases April $360 000 $210 000 May 330 000 240 000 June 300 000 180 000 July 390 000 2700 . Receipts from customers are normally 60 per cent in the month of sale, 30 per cent in the month following the sale, and 8 per cent in the second month following
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morganton company makes one product and provided the following information to help prepare its master budget: Required information [The following information applies to the questions displayed below.] Morganton Company makes one product and provided the following information to help prepare its master budget: a. The budgeted selling price per unit
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Exercise 15-5A (Algo) Determining amount and type (favorable vs. unfavorable) of variance LO 15-3 Required Compute variances for the following items and indicate whether each variance is favorable (F) or unfavorable (U): (Select "None" if there is no effect (i.e., zero variance).)
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The Scottie Sweater Company produces sweaters under the Scottie" label. The company buys raw wool and processes it into wool yarn from which the sweaters are woven. One spindle of wool yarn is required to produce one sweater. The costs and revenues associated with the sweaters are given below: Per Sweater $ 29.00 Selling price Cost to manufacturer
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13 Wang Company has establishe the following overhead cost pools and cost drivers for the month of May Overhead Costs $17,430 46,000 30,000 Cost Pool Cost Driver Levels Purchase orders Machine setups Electricity 30 orders 100 setups 30,000 kilowatt hours The following information pertains to the actual consumption of activity resources for two
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Just give me the answers no explination needed. match answers to it's number correctly plz in simple form
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Shadee Corp. expects to sell 600 sun visors in May and 800 in June. Each visor sells for $18. Shadees beginning and ending finished goods inventories for May are 75 and 50 units, respectively. Ending finished goods inventory for June will be 60 units. 3. value: 3.33 points Required information Required: 1. Determine Shadee's budgeted total sales

The original sale of the $50 par value common shares of Pearl Company was recorded as follows: Transactions: (a) Bought 400 shares of common stock as treasury shares at $62. (b) Sold 140 shares of treasury stock at $59. (c) Sold 60 treasury shares at $67. Record the treasury stock transactions (given above) under the cost method. (List all debit
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PUT IN EXCEL FORMAT E F. A B D 1 Sullivan Ranch Corporation has purchased a new tractor. The following information is given: 2 3 Cost: $ 150,000 4 Estimated Residual: $ 10,000 5 Estimated Life in years: 4 6 Estimated Life in hours: 1200 7 Actual Hours: 8 Year 1 360 9 Year 2 270 10 Year 3 350 11 Year 4 220 12 13 Prepare the following Straight Line
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Siegel Company manufactures a product that is available in both a deluxe model and a regular model. The company has manufactured the regular model for years. The deluxe model was introduced several years ago to tap a new segment of the market. Since introduction of the deluxe model, the company's profits have steadily declined and management has
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Jerry, de 23 aos, estudiante de tiempo completo y no discapacitado, vive con William y Sheila Carson. Jerry es el hermano mayor de William. Jerry es soltero, ciudadano estadounidense y no aporta ms de la mitad de su propia manutencin. William y Sheila tienen 21 aos y presentan una declaracin conjunta. Pueden William y Sheila reclamar una exencin

The Hydrangea Plant Shop, owned by P. Pope, sells plants. The shop has an August 31, 2020 fiscal year end, uses a perpetual inventory system. On August 1, 2020, the companys trial balance reported the following: ACCOUNTS PAYABLE: 65,450 Transaction for the Month During the last month of the fiscal year, the company had the following transactions:
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Dividing Partnership Net Loss Leigh Meadows and Byron Leef formed a partnenship in which the partnershio agreement provided for saiary allowances of $35,000 and $31,000, respectwely. Determine the division of a $18,000 net loss for the current year, assuming remaining inconte or iosses are shared equally by the fwo garther. Use the minus sign to
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constance CASE 14-2 CONSTANCE INC. Constance Inc. (CI) is a small private company located in Miramichi, New Brunswick. CI was incorpora in late 20X0 and has 10 common shareholders, consisting of two founders and eight of the founders' friends and relatives. At the time of CI's incorporation, each shareholder was issued 200,000 common shares. In
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Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31 appear below. The company did not issue any new common stock during the year. A total of 700,000 shares of common stock were outstanding. The interest rate on the bond payable was 10%, the income tax rate was 40%, and the dividend per
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A factory produces rollerskates, skateboards, inline skates and hoverboards. The resources required are plastic, rubber, flux and ball bearings. The following table shows . the per-unit resource quantities required for each product, the price we sell each product for, the per-unit resource prices, and the resource quantities available to us for
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ABC Corporation's RCIT, MCIT, excess MCIT and excess withholding taxes from prior year(s) were provided as follows: QUARTER 2020 2019 RCIT MCIT Taxes withheld Excess MCIT Excess withholding 1st 300,000 240,000 60,000 90,000 30,000 2nd 360,000 750,000 90,000 - - 3rd 750,000 300,000 120,000 - - 4th 650,000 300,000 105,000 - - How much is the income

Project 2.1 Topic: Bonds Part 3 On 1/1/20X1, Illini issued 10% bonds dated 1/1/20X1, with a face amount of $40,000. The bonds mature on 12/31/20X4 (4 years). For bonds of similar risk and maturity, the market yield is 12%. Interest is paid semiannually on June 30 and December 31. Suppose Illini elects the fair value option to account for these

Step by step with formulas I. A 30-year Treasury bond carries coupon rate of 8% (paid semi-annually), and discount rate is 12%. (i) Find the bond price. (ii) What would be the bond price if discount rate is 14%? (iii) What would be the bond price if discount rate is 10%? 2. A 10-year Treasury bond carries coupon rate of 8%, and discount rate is
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D E 3 A B 1 Name: 2 Date: Ex. 4-20 4 5 The following is selected Simplified information from Organic Catering's balance sheet as at December 31, 2020 and 2021. 6 You, business analyst at Organic Catering, have been asked to calculate the current ratio and the quick ratio (round to two decimal places). 7 Provide your manager with comments on the
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help me.... On January 1, Wei Company begins the accounting period with a $30,000 credit balance in Allowance for Doubtful Accounts. a. On February 1, the company determined that $6,800 in customer accounts was uncollectible; specifically, $900 for Oakley Company and $5,900 for Brookes Company Prepare the journal entry to write off those two
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January. Trever's sales are 30% cash and 70% credt. The company's colloction history indicates that crodit sales are collectod as follows: 20% in the month of the sale BS\% in the month ather the sale two monthis afler the sale 3th are never collected Requirements 1. Prepare a sales bucget for all four months, showing the breakdown between cash
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Gallatin Carpet Cleaning is a small, family-owned business operating out of Bozeman, Montana. For its services, the company has always charged a flat fee per hundred square feet of carpet cleaned. The current fee is $23.90 per hundred square feet However, there is some question about whether the company is actually making any money on Jobs for
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During 20x3, Pryor Company changed its imventory method from the LIFO to FIFO. The beginning inventory under FIFO is $20,000 higher than under LIFO. Prepare the journal entry to record this accounting change. Ignore income tax
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par B please - (a2) Your answer is correct. Compute the fixed cost elements using the high-low method. (Round answer to O decimal places, e.g. 5,275.) Fixed cost 2770 Click if you would like to Show Work for this questio: Open Show Work SHOW SOLUTION SHOW ANSWER LINK TO TEXT (b) Estimate the total cost if the company produces 9,400 units. (Round
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Smith and Walton's process-based shop is undergoing major changes and have asked you to come in an evaluate their work in process inventory balance. The beginning balance was $100,000. Transfered in was $225,000 worth of direct materials. Direct labor assigned during this period was $180,000, and overhead assigned was $200,000. Transfered out to
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Additional Exercise 20 Woodson Company sells many products. Gizmo is one of its popular items. Below is an analysis of the inventory purchases and sales of Gizmo for the month of March. Woodson Company uses the perpetual inventory system. Purchases Sales Units Unit Cost Units Selling Price/Unit 3/1 Beginning inventory 100 $40 3/3 Purchase 60 $50

Please answer with number and not in steps, I really need help getting the answer Estimating Auto Accident Costs. Statewide Auto Insurance believes that for every trip longer than 10 minutes that a teenager drives, there is a 1 in 1,000 chance that the drive will result in an auto accident. Assume that the cost of an accident can be modeled with a

Sales and Cash Receipts Transactions sourk Distributors is a retail business. The following sales, returns, and cash receipts occurred during March 20-. There is a Mar. 1 Sale on account No. 33C to Donachie & Co., $1,800 plus sales tax. 3 Sale on account No. 33D to R. J. Kibubu, Inc., $2,180 plus sales tax. 5 Donachie & Co. returned merchandise
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What is the difference in fees between the buy-side and sell-side for M\&A transactions? Review Later There is no difference in fee structures between the buy-side and sell-side for an M\&A transaction. The sell-side faces more uncertainty with the success fee because acquirers are hard to come by. If the deal falls apart, they are often left with
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Andretti Company has a single product called a Dak. The company normally produces and sells 82,000 Daks each year at a selling price of $56 per unit. The companys unit costs at this level of activity are given below: Direct materials $ 7.50 Direct labor 10.00 Variable manufacturing overhead 2.20 Fixed manufacturing overhead 9.00 ($738,000 total)

$5,990 Total cost of 55 units available for sale ... Less ending inventory priced using FIFO 10 units from August 28 purchase at $119 each .............. 2 units from August 17 purchase at $115 each .............. Ending inventory Cost of goods sold ................. $1,190 230 1,420 $4.570 ces Date Activity Units Sold at Retail Unit Inventory
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please help me! part d and e Zigzag Company prepared the following contribution format income statement based on a sales volume of 1,000 units c) If the selling price decreases by \$3 per unit, assuming no other changes, what would the Profit be? 1,00022=22,00022,000c,500=15,5001,00012=12,00015,50012,000P=$3,500 d) If the variable cost per unit
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Question Completion Status Required: State, with reasons, whether a partnership exists in the above satuation. (5 makes b. Tara and Neem are partners of T&N Enterprise and have been carrying on a business as taxi operators for many years. The purtnership deed provides the following: Monthly salary of RM5,000 for each partner 5% interest per annum
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Required information [The following information applies to the questions displayed below. Winkin, Blinkin, and Nod are equal shareholders in SleepEZ, an S corporation. In the conditions listed below, how much income should each report from SleepEZ for 2018 under both the daily allocation and the specific identification allocation method? Refer to
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Duane Schmidt opened a small caf, which he called Schmidt's Caf. During the first week, he completed the following transactions: a. Sold a personal investment in Fork Motor Co. Stock and deposited $100,000 of the proceeds in a bank account opened in the name of Schmidt's Caf. b. Purchased an old building converted into the caf for $85,000. c.
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The most recent monthly contribution format income statement for Reston Company is given below: Reston Company Income Statement For the Month Ended May 31 Sales $ 960,000 100.0 % Variable expenses 400,000 41.7 Contribution margin 560,000 58.3 Fixed expenses 495,000 51.6 Net operating income $ 65,000 6.7 % Management is disappointed with the

Crash Sports, Inc. has two product lines--batting helmets and football helmets. The income statement data for the most recent year is as follows: Total Batting Helmets Football Helmets Sales revenue $1,000,000 $600,000 $400,000 Variable costs (430,000) (150.000) (280,000) Contribution margin 5570.000 $450.000 $120.000 Fored costs (240,000)
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On January 1, 2020 Paris Company acquired 25 percent of the common stock of Safir Corporation for $250,000, at underlying book value. For the same year, Safir reported net income of $40,000. It paid $6,000 dividends during the year. At December 31, 2020, Paris determined the fair value of the shares of Safir to be $243,000. a. Give all journal

Prepare the multi step income statment. Fill out the income stament completley. In its income statement for the year ended December 31, 2025, Sunland Inc reported the following condensed data. Prepare a multiple-step income statement. (List Other revenue and goins before Other expenses and losses.) SUNLAND INC. Income Statement
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How would I answer problem 5? Figure 4-1 Bow and Arrow Co. has estimated the following at the beginning of the year: Total Research Dept. $875,000 55,000 22,000 Manufacturing De Overhead Direct Labor Hours Machine Hours $1,150,000 80,000 82,000 $275,000 25,000 60,000 Bow and Arrow Co. uses normal costing and departmental overhead rates. In the
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Problem 1: Record the Journal Entry or Entries for the following transactions assuming a perpetual inventory system is used. 1. XYZ Corp. is a retailer and they purchase 10,000 books for $25,000 dollars on account from ABC Corp. 2. Assume the terms of the sale described in #1 are FOB shipping point, XYZ Corp. pays Just-In-Time Logistics $2,200 for

disbursements pot's Restaurent Supply is preparing ts cash budgets for the first two months of the upooming year. Hare is the information about the company's upcoming cash receipts and cash (Click the icon to view the information.) s, and (c) budpeted cash payments for operating expenses. Show totals for each month and totals for January and
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All of the following are debited to the Work-In-Process account except: O a. completed units being transferred to finished goods O b. direct labour incurred o c. direct materials consumed O d. applied manufacturing overhead
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TB EX Qu. 6-214 (Algo) During 2024, a company sells... During 2024, a company sells 490 units of inventory for $85 each. The company has the following inventory purchase transactions for 2024 Calculate cost of goods sold and ending inventory for 2024 assuming the company uses the weighted-average cost imethod, (Round weighted-average unit cost to
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If sales increase from $80,000 per year to $120,000 per year, and if the operating leverage is 5, then net operating income should increase by: A. 167% B. 250% C. 100% D. 334%

Purchases April 1 (balance on hand) 1,800@ $6.00 4,500 @ 6.08 2,400 @ 6.40 3,600 @ 6.50 2,100 @ 6.60 1,500 @ 6.79 15,900 April 3 9 11 23 27 Sales 1,500 @ $10.00 4,200 @ 10.00 1,800@ 11.00 3,600 @ 11.00 2,700 @ 12.00 13,800 Compute cost of goods sold assuming periodic inventory procedures and inventory priced at FIFO. (Round answer to decimal
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