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At the beginning of the period, the cutting department budgeted direct labor of 30,000 and supervisor salaries of 20,000 for 4,000 hours or production. The department actually completed 5000 hours of production. Determine the budget for the department assuming that it uses flexible budgetting.
Assume you are reviewing a company's annual report. In addition to actual revenues reported in the income statement, what other information disclosed would give you help in estimating this company's future revenues?
What is shareholder's equity, how is it calculated, and where and how is it reported? What is comprehensive income and how does it influence equity? What happens to shareholder's equity when the firm issues more shares or buys back shares in the o..
The Richmond Company uses the weighted-average method in its process costing system. The company has only a single processing department.
Hamilton Company owns 51,000 of Hennie Company's 100,000 outstanding shares of common stock. Hennie Company pays $25,000 in total cash dividends to its shareholders. Hamilton's entry to record this transaction should include a:
1. What is most unusual about the balance sheet? 2. Compute trend percentages for net sales and net income. Use 2003 as the base year. Which trend percentage looks strange? Explain your answer.
Schuss Inc. issued $3,000,000 of 10%, 10-year convertible bonds on June 1, 2010, at 98 plus accrued interest. The bonds were dated April 1, 2010, with interest payable April 1 and October 1. Bond discount is amortized semiannually on a straight-li..
Discuss the similarities and differences between the indicators of finance leases under IFRS and the criteria for capitalizing leases under U.S. GAAP.
The material sale of inventory items by a parent company to an affiliated company:
Cash of $2,000 had been set aside for the plant expansion. How much of retained earnings is available for dividends?
Now add a set of indifference curves and illustrate how an investor's optimal portfolio is some combination of the risky portfolio and the risk-free asset. What is the composition of the risky portfolio?
The stockholders' equity section of Milroy Corporation as of December 31, 2003, was as follows:
You have been employed as an entry level management accountant for a little under a year. you suspect that your immediate supervisor is involved in asignificant fraud involving diverting of company assetts to personal use.
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