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Partnership Formation Hanna Hark and Jamie Rice are watch repairmen who want to form a partnership and open a jewelry store. An attorney prepares their partnership agreement, which indicates that assets invested in the partnership will be recorded at their fair market value and that liabilities will be assumed at book value. The assets contributed by each partner and the liabilities assumed by the partnership follow: Assets Hanna Hark Jamie Rice Total Cash $ 80,000 $ 60,000 $ 140,000 Accounts receivable 104,000 40,000 144,000 Allowance for uncollectible accounts 8,000 6,000 14,000 Supplies 2,000 1,000 3,000 Equipment 40,000 20,000 60,000 Liabilities Accounts payable 64,000 18,000 82,000
What will happen to the total annual variable cost? The annual variable cost includes the annual ordering cost and annual inventory holding cost?
This is a Harvard Case Study that related to Accounting, mainly to Management Accounting. In this case, Hallstead Jewelers is facing decrease in margin of safety through decrease in sales, compared to last year
Explain the major differences between job order and process costing systems.
Find the total and unit cost of finished goods started and completed in the current period. Find the total cost of work in process inventory at June 30.
What is the present yr net operation income or loss for this company and what is the breakeven point in unit in swiss franc
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Raw materials that cost $68,200 are withdrawn from the storeroom for use in the Mixing Department. Direct materials amounted to 75%, with the balance classified as indirect materials.
Compute the standard quantity allowed for materials for the month's production.
Prepare a Statement of Changes in Net Assets for the Employees Retirement Fund for the Year Ended June 30, 2012 and prepare a Statement of Net Assets for the Employees' Retirement Fund as of June 30, 2012.
Identify a potential benefit of the online business that would be difficult to quantify in a net present value analysis.
Tajiri Corporation uses customers served as its measure of activity. The following report compares the planning budget to the actual operating results for the month of May:
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