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Pollica Corporation's cost formula for its selling and administrative expense is $11,400 per month plus $94 per unit. For the month of March, the company planned for activity of 5,700 units, but the actual level of activity was 5,660 units. The actual selling and administrative expense for the month was $522,860.
What is the difference between internal documentation and external documentation? Examples? Which type is considered more reliable?
Prepare the adjusting journal entry needed on December 31, 2006. Prepare the journal entry to record the sale of the Colorado Company stock during 2007.
Lance Brothers Enterprises acquired $750,000 of 1% bonds, dated July 1, on July 1, 2011, as a long-term investment. Management has the positive intent and ability to hold the bonds until maturity.
Accounts receivable arising from sales to customers amounted to $40,000 and $35,000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was $110,000. Exclusive of the effect of other adjustments, t..
Submit a tax file memorandum with proper citations of all sources: I want to see citations of the court case, a revenue procedure, and a specific section of the IRC.
How much total cash did Markus raise through the January 15, 2011, stock issuance? How are these journal entries recorded?
Based on the formulas you have reviewed, what happens to contribution margin per unit when unit selling prices increase? Illustrate your explanation with an example from a fictitious company of how an increase in unit selling prices might affect cont..
Create a situation or scenario in which it may be appropriate to recognize revenue as the productive activity takes place. State whether or not there are any other times appropriate for recognizing revenue. Provide a rationale with your response.
In taking a physical inventory on December 31, Jensen counted all goods on hand and priced the inventory on the basis of average cost. The total amount was $600,000. No goods in transit were included in this figure.
Is is important for a company to follow a strict budget even though they may be experiencing phenomenal profits. Do you think there will a bias towards greed when creating the budget for this company? Explain.
What is a balanced scorecard? How can it help you manage a company? Are there any advantages to using one?
Intermediate Accounting Questions, Please provide thorough explanations and full calculations for each answer chosen. What is the meaning of the term market when one is valuing the raw materials inventory at lower-of-cost-and-market?
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