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Stein agrees to pay Choi and Amal $10,000 each for a one-third (33 1/3%) interest in the Choi and Amal Partnership. Immediately prior to Stein's admission, each partner had a $30,000 capital balance. Make the journal entry to record Stein's purchase of the partners interest.
(a) Compute the actual cost per foot for materials for March. (b) Compute the materials price variance and a total variance for materials.
Payment terms were: 50% due on October 1, 1996, 25% due on first delivery and 25% due on the second delivery. What amount of revenue should Acme recognize from this sale during 1996?
The standard costs and actual costs for direct materials for the manufacture of 2,500 actual units of product are as follows: Standard Costs Direct materials (per completed unit) 1.04 kilograms @$8.75 Actual Costs Direct materials 2,500 kilograms ..
Very simple and high level, an S corp or an LLC
On January 1, 2009 Gucci Brothers Inc. started the year with a $500,000 credit balance in retained earnings and $600,000 balance in capital stock. During 2009, the company earned net income of $100,000, declared a dividend of $15,000, and issued m..
Standards call for 2 meters of the raw material for each unit of the completed product. The standard price of the rate material is $4.70 per meter. The materials variances for October were:
Compute the quality of income ratio for each firm and what inferences can be drawn from these ratios
There would be no cost savings from transferring the units within the company rather than selling them on the outside market. What should be the lowest acceptable transfer price from the perspective of Division X?
the balance in the prepaid insurance account before adjustment at the end of the year is 11500. journalize the
use the following data for abc music co. to prepare a statement of cash flows using the indirect method for the year
MRC sells a temporary pass for ten uses of the facility
Ritter company issues $600,000 of 10%, 10-year bonds on januanry 1, 2008 at 102. Interest payable semiannually on july 1 and january 1. The company uses the straight-line method of amoritization.
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