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A lawn care company started business on January 1, 2012. The company billed clients $105,000 for lawn care services completed in 2012. By December 31, the company had received $84,000 cash from customers, with the $21,000 balance expected to be collected in 2013. During 2012, the company paid $68,000 cash for various expenses. At December 31, the company still owed $41,000 for additional expenses incurred that have not yet been paid in cash. These expenses will be paid during January 2013. How much income (or loss) should the company report for 2012? Note: The company computes income using cash-basis accounting.
What is the difference between a branch and a department ? whatare the essentials of branch accounts?
Determine cost and sales and variable volume variances. Classify the variances as (F)avorable or (U)nfavorable. Comment on the usefulness of the variances with respect to performance evaluation and identify the member of the management team most lik..
The company prices its inventory at the lower of cost or market. If the market price for jet fuel at the end of the year is $4.50, how would this situation be reflected in the annual financial statements?
The service unit or output for this department is the number of procedures performed. A static budget was prepared at the beginning of the year. You are now tasked with examining that budget in relation to actual experience.
the door company manufactures doors. classify each of the following quality costs as prevention costs appraisal costs
1) What would Washington report for service revenue for 2011? 2) What would Washington report for salaries expense for 2011? 3) What would Washington report for supplies expense for 2011?
Compute the following and show the computations that support your answers. Equivalent units of production for materials and conversion costs in the Cutting Department for the month of November. Cost per equivalent unit for materials and conversion..
A company has 20,000 shares of $12 par common stock outstanding. Present entries to record the following:
Prepare any necessary adjusting entries relative to depreciation (use straight-line) and amortization (use effective-interest method) on December 31, 2011.
The December 31 , 2013 balance sheet of schism inc 120,000 in common stock account and 2,120,000 in the additional paid in surplus account.
Discuss the financial impact of SOX and consider its effect on economic growth and enterprise.
icon industries is considering a new product for its trophy division. the product which would feature an alligator is
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