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The adjusted trial balance of Rocky Acre Spread Inc. on December 31, 2012 includes the following accounts: Accumulated Depreciation, $6,000; Depreciation Expense, $2,000; Notes Payable $7,500; Interest Expense $150; Utilities Expense, $300; Rent Expense, $500; Service Revenue, $19,600; Salaries and Wages Expense, $4,000; Supplies, $200; Supplies Expense, $1,200; Salaries and Wages Payable, $600. Prepare an income statement for the month of December.
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?
The constraint at Bulman Corp. is time on a particular machine. The company makes three products that use the machine. Data appears below:
Prepare the necessary journal entry to close the overhead account of the balance is considered immaterial.
A lead partner is a local accounting firm, whose practice consists of tax consulting and compliance, serves clients by providing write-up and payroll processing services. As his firm grows, he has developed various ways to build its business.
Why are budgets useful in the planning process? a) They provide management with information about the company's past performance. b) They help communicate goals and provide a basis for evaluation.
Identify drivers of those activities, bearing in mind that it must be easy to measure and record the values of the drivers. Do you see any potential benefit in implementing ABC for Netflix?
What is Gigantic Corporation's net tax liability if its taxable income is $325,000 and it has a general business credit of $125,000?
In 2010, a compact disc cost $14. If the price of CDs continues to increase at an annual compound rate of 4 percent, how much will a disc cost in 10 years? 25 years? 50 years?
How should A.J. Smith recognize revenue on the extended warranty contracts?
Now assume that eh interaction is sequential where Holland Sweetener chooses to enter and if so they face the pricing problem in the second stage. Should Holland Sweetener enter?
Joe operates a business that locates and purchases specialized assets for clients, among other activities. Joe uses the accrual method of accounting but he doesn't keep any significant inventories of the specialized assets that he sells.
A purchasing agent makes a purchase and when the item is shipped it is delayed. Which department bears the cost of time lost in the plant due to the delay in shipment and should the plant manager be responsible?
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