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1. Managerial accounting
A. Focuses primarily on reporting to regulatory agencies
B. Is governed by generally accepted accounting principles
C. Is highly discretionary and varies greatly from business to business
D. Should be considered as a substitute for financial accounting
2. Which cost are not affected by the level of production?
A. Total fixed costs
B. Direct materials
C. Direct labor
D. Total variable costs
3. Given the following information how much was transferred to work in process on January 31? Inventory on January 1 is 100,000, raw materials purchased in Jan are 500,000 and and raw materials inventory on Jan. 31 200,000
A. 200,000
B. 400,000
C. 600,000
D. 700,000
what are the possible benefits to the company of having a share election scheme? the solvency test must be satisfied by
shine corporation purchased 30 percent of the common stock of ash corporation on january 1 2007 at 28000 in excess of
Pierson Corporation owned 10,000 shares of Hunter Corporation. These shares were purchased in 2007 for $90,000. On November 15, 2011, Pierson declared a property dividend of one share of Hunter for every 10 shares of Pierson held by a stockholder.
Kim Co. reported bonds payable of $35,000 at December 31, 2010 and $32,000 at December 31,2011. During 2011, Kim issued $20,000 of bonds payable in exchange for equipment.
ahsan company makes 60000 units per year of a part it uses in the products it manufactures. the unit product cost of
Which is better, statistical sampling or non-statistical sampling? Why? Should Generally Accepted Auditing Standards prescribe specific risk levels that auditors must use? Why or why not?
1. Give three examples of how management can engage in "real" earnings management to achieve the desired reporting of higher net income. 2. Profiles Corp. had the following infrequent income statement items during 2009:
What is the balance in the patent account on the consolidated balance sheet at December 31 2005.
Select an accounting scandal from the listing provided in class.
Entries for Bonds Payable.Prepare journal entries to record the following transactions related to long-term bonds of Quirk Co., On April 1, 2009, Quirk issued $500,000, 9% bonds for $537,868 including accrued interest. Interest is payable annually ..
Jurassic Company owns equipment that cost $1,867,500 and has accumulated depreciation of $788,500. The expected future net cash flows from the use of the asset are expected to be $1,037,500. The fair value of the equipment is $830,000.
The amount of the proceeds from the issuance that should be accounted for as the initial carrying value of the bonds payable would be.
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