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Asset turnover measures
the overall rate of return on assets.
how efficiently a company uses its assets to generate sales.
the portion of the assets that have been financed by creditors.
how often a company replaces its assets.
johnson realty bought a 2000- hectare island for 10000000 and divided it into 200 equal size lots.as the lots are sold
Preparation of Income statement and Balance Sheet and Financial Data for 2008 Based on an aging of the accounts receivable, it was determined that the allowance for bad debts at 12/31/08 should be $1,100.
On the first day of the fiscal year, a company issues a $500,000, 8%, 10 year bond that pays semi-annual interest of $20,000 ($500,000 x 8% x 1/2), receiving cash of $530,000. Journalize the entry to record the issuance of the bonds.
identify and explain the risks to Mobile Creations (Pty) Ltd that will arise from the outsourcing arrangement with WASP Innovations CC. In your explanation you should include a description of the potential consequences of each risk
Prepare a cash budget for January and February - The company wants to maintain a minimum monthly cash balance of $21,120.
Lisa, a CPA, feels that she cannot act as an aggressive advocate for tax clients in today's environment. What aspects of the ethical conduct of a tax practice might have influenced Lisa's attitude?
James Company uses a predetermined rate to apply overhead. At the beginning of the year, James estimated it's overhead costs at$240,000, direct labor hours at 40,000 and machine hours at 10,000. Actual overhead costs incurred were $249,280, actual di..
On January 1, 2014, Benjamin Industries leased equipment on an eight-year term at $15,000 annual rental payments, paid in advance. There is a bargain purchase option on December 31, 2021 (end of lease), of $24,000. The economic life of the equipment ..
A company had inventory of 8 units at a cost of $12 each on December 1. On December 2, they purchased 8 units at $21 each. On December 6 they purchased 7 units at $23 each. On December 8, they sold 18 units for $52 each. Using the LIFO perpetual i..
Journalize all entries required on the abouve dates, including entries to update depreciation, where applicable, on assets disposed of. Thomas Company uses straight-line depreciation. (Assume depreciation is uo to date as of Dec 31 2005.
Illustrate what would be the total production engineering cost per unit, both fixed and variable, at an activity level of 8700 machine hours in a month?
On July 1, Job 46 had a beginning balance of $1,235. During July, prime costs added to the job totalled $560. Of that amount, direct materials were three times as much as direct labor. The ending balance of the job was $1,921. What was overhead appli..
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