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The firm x has a 45 day accounts payable period. The firm has expected sales of $1,800, $2,500, $2,600 and $2,800, respectively, by quarter for the next calendar year. The cost of goods sold for a quarter is equal to 55% of the next quarter sales. What is the amount of the projected cash disbursements for accounts payable for quarter 3 for the next year? Assume that a year has 360 days
Tork Corporation is about to announce a new product, J82, whose variable cost is $116.30 per unit and that would require 7.70 grams of a raw material that is the constrained resource in the company. The opportunity cost to use this constrained resour..
Are all indirect costs fixed costs? Are there circumstances in which prices should be set to cover variable cost rather than full costs? Explain
Your company uses a standard costing system. At the beginning of the month, you budget to produce and sell 100 items. Actual units produced are 120. Standards for direct material are 4 lbs per unit at a standard price of $3 per pound. Actual material..
Karen, in forming a new corporation, transfers land to the corporation in exchange for 100 percent of the stock of the corporation. Karen's basis in the land is $275,000, and the corporation assumes liability on the property in the amount of $300,000..
Determine the appropriate income statement presentation (sales, cost of sales, gross profit, operating income or expense, non-operating income or expense) for each item noted above. Note that L&L presents a subtotal for operating income on the income..
Internal Control Procedures are in place to protect the assets of every business as mentioned in the textbook and our discussions. Of the seven internal control procedures, list five of these controls and describe how each procedure is implemented.
Determine the date the note matures, and calculate how much interest expense is generated by this note, both for 2012 and 2013. OR must be entered in the format dcarnmm
There was no payment of dividends to owners during the year. What was the amount of the change in total stockholders' equity during the year?
A concerned citizen provides resources and establishes a trust with the local government. What factors should be considered in determining which fund to report the trust activities?
target cost for the new price and change in operating income for the year.we-catch corporation manufactures fishing
Each partner had a beginning capital balance of $120,000. Any remaining net income or net loss is shared equally. What is balance of Miles' Capital account at the end of the year after net income has been distributed?
Sammie and her two children, ages 8 and 10, lived with her boyfriend, Dominick, for all of 2014. The children are not Dominick’s children but he provided all of their support. He can claim them as dependents because they are not the qualifying childr..
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