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Explain the similarities and differences in Managerial and Financial Accounting. After you review the Feature Story in Chapter 1, explain how the management functions of both could help HP and/or Dell. Which has done a better job in your opinion? Why? Post your response as a reply to this message in about 500 words.
The JOhn Company purchased a machine on Nov 1, 2002, for 148,000. At the time of acquistion, the machine was estimated to have a useful life of ten years and an estimated salvage value of $4,000. JOhn has recorded monthly depreciation usiing the s..
A consulting engineering firm is considering two models of SUVs for the company principals. A GM model will have a first cost of $26,000, an operating cost of $2000, and a salvage value of $12,000 after 3 years.
What was the cost of advertising and warehouse expense allocated to each of the business based on the traditional method? What recommendation would you make in allocating these expenses to each of the business and how much would be allocated to eac..
On June 30, 2009, half the bonds were converted when Blair's common stock had a market price of $30 per share. What journal entry should Blair make record when recording the conversion?
How are stock issuance costs and direct combination costs treated in a business combination which is accounted for as an acquisition when the subsidiary will retain its incorporation?
In the current year, Louise invests $50,000 for a 10% interest in a passive activity. Her share of the loss this year is $10,000. If this is her only passive activity, the $10,000 loss is suspended for use in a future year.
The accountant of Whitney Houston Shoe Co. has compiled the following information from the company's records as a basis for an income statement for the year ended December 31, 2007- Prepare a multiple-step income statement. Prepare a single-step in..
What are the tax consequences of property contributions in exchange for ownership interests to the contributing party and to the entity for C Corporations and Trusts?
The production department started the month with the beginning goods in process inventory of $350,000. During the month, it was assigned the following costs: direct materials, $192,000; direct labor, $90,000; overhead applied at the rate of 30% of..
Define the term "earnings per share" as it applies to a corporation with a capitalization structure composed of only one class of common stock and explain how earnings per share should be computed and how the information should be disclosed in the..
Discuss the pros and cons of the U.S. Federal Government guaranteeing the pension funds of a private company when it declares bankruptcy. And whether the U.S. Federal Government should guarantee and state your rationale.
Determine the denominators to be used in the calculations of cost per equivalent unit for materials and conversion costs.
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