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An alumnus donates securities to St. Aloysius College, a private college, and stipulates that the principal be held in perpetuity and income from the securities be used for faculty travel. Dividends received from the securities should be recognized as increases in:
A. Endowments.
B. Unrestricted net assets.
C. Permanently restricted net assets.
D. Temporarily restricted net assets.
Assuming that a prevailing interest rate of 8% applies to this contract, how much should Fishbone record as the cost of the machine?
Depreciation expense should be charged in the appropriate governmental funds, and reported in the governmental activities accounts.
What is the Accounting Equation? Does it always have to balance, if so why? Are there exceptions to this general rule? If so, what are they?
Identify the components of internal control to which each policy or procedure relates. For each item, identify one other policy or procedure for that internal control component that is not on the preceding list.
A manual insertion process takes 30 minutes and eight pounds of material to produce a product. Automating the insertion process requires 15 minutes of machine time and 7.5 pounds of material.
Why is it important to properly value a business's assets and how does asset valuation impact the financial statements of an organization?
Managerial accounting: a. has its primary emphasis on the future. b. is required by regulatory bodies such as the SEC. c. focuses on the organization as a whole, rather than on the organization's segments. d. Responses a, b, and c are all correct.
Prepare the report using highly technical and accounting specific language to show that you are qualified to give the presentation.
Let's say that a company produces a single product with a sale price of $25 per unit. The variable cost per unit is $15 and the company incurs fixed costs of $50,000 per month. What is the breakeven point for this company in units and sales dollar..
Discuss whether direct labor is a fixed or a variable cost. What are the pros and cons of management treating direct labor as a variable cost?
Do you think favorable variances should be investigated? Why or why not?
A company expected its annual overhead costs to be $900,000 and direct labor costs to be $1,000,000. Actual overhead was $870,000, and actual labor costs totaled $1,100,000. How much is the company's predetermined overhead rate to the nearest cent..
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