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As of June 1, beginning WIP is $3,000 and finished goods are $5,000. The company sold units costing $20,000 for $35,000 cash. If ending WIP is $18,000 and ending finished goods is $15,000, how much were the cost of goods manufactured and the current manufacturing costs?
Old Alabama Company purchased investments for $45,000 and plant assets for $127,000 during the current year, during which it also sold plant assets for $66,000, at a gain of $6,000. The company also purchased treasury stock for $78,000 and sold a ..
Change of mind gives gallery a $1m surprise' and determine whether the gallery should treat the donation as revenue. Further, if the donation is treated as revenue, how would that revenue be measured?
Which of the following statements correctly describes the proper accounting for nonmonetary exchanges that are deemed to have commercial substance?
Preparing a list of pros and cons do not mean just giving a definition of three entities. Your information presented should be structured toward their prospective business. Please make sure your responsive comprise the necessary references and rule..
Compare and contrast the accounting reporting criteria-including regulatory environment, issues with foreign currency, differences in GAAP, and any others-of a U.S. company with a foreign company.
evaluate the "Off the Balance Sheet Arrangements" reflected in the 10-Qs of Freddie Mae and Freddie Mac. Explain how these red flags were ignored by the SEC and its public accounting firm.
A financial advisor tells you that you can make your child a millionaire if you just start saving early. You decide to put an equal amount each year into an investment account that earns 8% interest per year, starting on the day your child is born..
Medical Instruments produces a variety of electronic medical devices. Compute the materials variances for silver tubing and comment on their meaning.
Ending inventory consisted of 5,000 units which were 80% complete with respect to materials and 60% complete with respect to conversion costs.
Arthur operates a part-time auto repair service. He estimates that a new diagnostic computer system will result in increased cash inflows of $2,100 in Year 1, $3,200 in Year 2, and $4,000 in Year 3.
Write down a forecast of Macy's income before taxes if Macy's selling efforts generates the products sales below instead of the ones shown in the table above (all other factors remain unaffected).
Revenues for the year ended 31 January 20X1 were $507,000 and expenses were $330,000. Under plan (b) above prepare the partnership income statement for the year.
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