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Company has net sales on account of $1,500,000. Net accounts receivable at the beginning ofthe year are $600,000 and net accounts receivable at the end of theyear are $650,000. The average number of days that accounts receivable were on the books was:
Which of the following is FALSE in regards to direct materials for an auto manufacturer?
What is the time value of money? Why should accountants have an understanding of compound interest, annuities, and present value concepts?
Find out the minimum space requirements for a factory shed, where such lathes are to be installed. The production is done on single shift basis, @ 8 hrs per day for a week of 6 working days and for 50 weeks/year.
Explain the significance of this transaction to an analyst. Explain the consequences of poor quality reporting. What has the U.S. government done to improve the quality of reporting after recent financial scandals, such as Enron?
Prepare the journal entries to record these transactions on the books of Harwicks Co. under a perpetual inventory system.
On the first day of the current fiscal year, $1,500,000 of 10-year, 8% bonds, with interest payable semiannually, were sold for $1,225,000. Present entries to record the following transactions for the current fiscal year:
Clyde agreed to surrender his Red stock in exchange for $600,000. clyde's basis in his shares was $143,000 and he held the shares for 17 years. the agreement made no explicit allocation of any of the $600,000 to clyde's agreement not to compete ag..
As a result, they estimate that gross profit will increase by $37,605 and operating expenses by $62,595. Compute the expected new net income. (Hint: You do not need to prepare an income statement).
Discus briefly the activity-based costing (ABC) and explain how ABC can differ from traditional costing approaches? Consider a health care organization with which you are familiar with and it uses ABC model.
Compute the following variances and indicate whether the variance is favorable or unfavorable. 1. Direct material price variance, Direct materials quantity variance, Direct labor price variance, Direct labor quantity variance
Prepare an income statement for the year 2007 starting with income from continuing operations before taxes. Compute earnings per share as it should be shown on the face of the income statement. Common shares outstanding for the year are 80,000 sha..
Dalton Construction Co. contracted to build a bridge for $5,000,000. Construction began in 2010 and was completed in 2011. Data relating to the construction are:
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