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Is it necessary for the city to adopt a budget comparable to that of a governmental fund for its enterprise funds and to incorporate it into its accounting system by making annual budgetary entries? Explain.
At the date of transfer, Demers records carried the equipment at a cost of $120,000 less accumulated depreciation of $48,000. Straight-line depreciation is used. Demers reported net income of $28,000 and $32,000 for 2006 and 2007, respectively.
The owner of central dug believes that ending inventories should be sufficient to cover 20 percent of the next month's projected sales. On January 1, there were 84 ankle braces in inventory.
Per SAS 100 Procedures for Reviewing Interim Financial Information there are many items to review. One of these items that is necessary is to interview with members of management and the board of directors, why is this so crucial?
In this module you are going to have your final application to your organization. Identify a decision that has recently been made or will be made in the near future in your organization. Identify two relevant and two non-relevant costs in this dec..
A fixed asset has a cost of $12,000 and a salvage value of $3,000. The asset has a three-year life. If depreciation in the third year amounted to $1,500, which depreciation method was used?
For each of the following transactions or adjustments, indicate the effect of the transaction or adjustment on assets, liabilities, and net income by entering for each account affected the account name and amount and indicating whether it is an ad..
The dividend is expected togrow at a constant rate of 6 percent a year. What stock price is expected 1 year from now? What is the required rate of return?
Manufacturing overhead is allocated at 130% of direct labor costs. Actual manufacturing overhead was $86,500, and jobs costing $225,000 were?
Knox Corp. plans to sell 1,000 units in 2011 at an average sale price of $40 each. Cost of goods sold will be 40% of the sale price. Depreciation expense will be $2,500, interest expense $1,500, and other expenses will be $3,000. Wessel's tax rate..
William County opted to account for its duplication service center in the internal service fund. Previously the center had been accounted for in county's general fund. During first month in which it was accounted for as an internal service fund cent..
Average storage bin usage for various inventories was estimated to be 200 per day. The costs and cost drivers were determined to be as follows:
Shubelik Company is changing to an activity-based costing method. They have determined that they will use three cost pools. They are set-ups, inspections, and assembly. Which of the following would be used as the activity base for assembly?
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