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1.Discuss the use of job order costing for professional services businesses. What are the similarities and differences between service and manufacturing business job order costing?
2.ABC Printing Company uses a job order cost system.
(a) Indicate the source of the data for debiting Work in Process for each of the following:(1) Direct materials requisitioned(2) Direct labor used
(b) Indicate the source of the data for crediting Work in Process for jobs completed.
(c) Present a list of the three controlling accounts used in the general ledger to record the inventories and, in each case, indicate the related subsidiary ledger.
Determine the proper balance sheet presentation and amounts for the above items.
Some, but not all, contributions of goods and services are given accounting recognition. In each of the following scenarios, an organization receives a contribution in kind. Prepare journal entries, as necessary, to give them accounting recognitio..
Sheppard industries evaluating a proposal expand current distribution facilities. Management projected produce cash flows years (in millions)
The IRS allows CPAs, lawyers, and Enrolled Agents (EA) to prepare taxes for compensation. Debate how this affects the accounting profession as a whole, and how you think this change will impact the accuracy and cost of tax preparation.
What financial instruments (financial assets and financial liabilities) are not eligible for an entity to use the fair value option of accounting?
Pauw's Pots is considering the production of a new line of pottery. Based on preliminary market research, management has decided that each pot should be priced at $60. Furthermore, management believes that the profit margin should be 40 percent of..
Accounts of Pioneer Heating Corporation at the end of the first year of operations showed the following balances. In addition, prepaid operating expenses are 4000, and accrued sales commissions payable are $5900. Investment revenue receivable is ..
Intercompany transactions are very important in the consolidation process. Choose an intercompany transaction. Discuss the effects of intercompany transactions when consolidating financial statements. Your discussion should include the effects on ..
Someone purchased 320 shares of DNA at 35 3/4 from broker. He charges 1.6% for the transaction. Odd lot carry 1/8 of a dollar brokerage differential.
Please describe the various approaches required by current GAAP standards for reporting changes in accounting principles? Discuss how these approaches may be impacted by the adoption of new IFRS standards.
Draw Jim's budget line (throughout, please put coffee on the vertical axis)-Use a budget line-indifference curve map analysis to explain which pricing scheme Jim prefers.
Which of the following would be an appropriate performance indicator for a not-for-profit health care organization?
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