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Surf Beach State College (SBSC) has a business school with 3 products, undergraduate degrees, graduate degrees, and executive education. SBSC has 3 service departments, Computer Support, Career Development, and the Library. The dean would like to measure product line profitability and wants to include an allocation of service department costs in the analysis. How would you recommend the service department costs be allocated?
Many firms recognize revenus at the point of shipment. This provides an incentive to accelerate revenues by shipping goods at the end of the quarter.
Compare and contrast proprietary fund reporting under GASB No.34 with GAAP financial reporting for non-governmental entities. Examine why GASB requires the direct method for cash flow statements in the proprietary funds instead of allowing the dir..
When normalizing operating results, non-recurring expenses that are reported within SG&A, CGS or other expense line items on a company's income statement:
Comparative information taken from the Fogerty Company financial statements is shown below 2007 2006-Using horizontal analysis, show the percentage change from 2006 to 2007 with 2006 as the base year.
Assuming no impairment in value prior to transfer, how would one record assets transferred by a parent company to another entity it has created on the newly created entity's books?
Compute the unit cost for each department. Compute the total unit cost for the Milo Company order. The selling price for this order was $14 per unit. Was the selling price adequate? Compute the prime costs and conversion costs per unit for each depa..
Obtain one (1) peer-reviewed (scholarly) article that is unique from your teammates, and relevant to the business problem or research question. Write out the team business problem or research question
In May of 2009, Raymond Financial Services became involved in a penalty dispute with the EPA. At December 31, 2009, the environmental attorney for Raymond indicated that an unfavorable outcome to the dispute was probable.
Prepare journal entries to record the sale, cash collections, and recognition of gross profit (if appropriate) in 2010, 2011, and 2012.
Woody Corp. had taxable income of $8,000 in the current year. The amount of MACRS depreciation was $3,000 while the amount of depreciation reported in the income statement was $1,000. Assuming no other differences between tax and accounting income..
Big Corporation distributed land to its sole shareholder, Little Corporation, in a liquidating distribution. At the time of the distribution, the land had a fair market value of $240,000 and Big Corporation's adjusted basis in the land was $200,00..
Dixie Corporation distributes $31,000 to its sole shareholder, Sally. At the time of the distribution, Dixie's E&P is $25,000 and Sally's basis in her Dixie stock is $10,000. Sally's basis in her Dixie stock after the distribution is ??
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