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Nemani Corporation is projecting a cash balance of $31,785 in its December 31, 2013, balance sheet. Nemani schedule of expected collections from customers for the first quarter of 2013 shows total collections of $180,885. The schedule of expected payments for direct materials for the first quarter of 2013 shows total payments of $40,200. Other information gathered for the first quarter of 2013 is: sale of equipment $3,392; direct labor $70,178, manufacturing overhead $34,583, and purchase of securities $12,372.
Selling and administrative expenses are projected to be $45,117; this figure includes $1,117 in depreciation expense on the office equipment. All costs and expenses will be paid in cash. Nemani wants to maintain a balance of at least $25,000 cash at the end of each quarter.
Find what is journal entry that would record this transaction - evaluate the Book Value of each of its fixed assets and make decisions regarding the purchases, disposition of various assets and trades.
On May 1, 2010, Kirmer Corp purchases $450,000 of 12% bond with interest payable on January 1 and July 1 for $422,800 plus accrued interest. The bonds mature on January 1, 2016. Amortization is recorded when interest is received by straight line m..
Stigler's 'private interest theory' proposes that regulatory bodies (including accounting standard setters) are made up of individuals who are self-interested, and these individuals will introduce regulation that best serves their own self-interest.
1.prepare an income statement base on the absorption costing concept 2.Prepare an income statement base on the variable costing system 3.Explain the reason for the difference in the amount of income from operations reported in 1 and 2
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Prepare form 1065, Schedule K, and relevant supporting schedules for ROCK the Ages, LLC, leaving blank any items where insufficient information has been provided. If you are using tax return preparation software, also prepare Form 4562 and Schedul..
What would be the appropriate entry for the subsequent transaction and measures amount of revenue as the cash plus cash equivalent value of any non-cash assets received from customers in exchange for goods or services
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The contribution margin in mall store is $200,000. Total fixed costs are $90,000 in downtown store and $93,000 in the mall location. How much are sales at mall location?
Compute journal entries to record the above transactions for a retail store.
Compute the predetermined overhead rate and prepare the entry to apply the overhead for the year.
Determine the potential problems that can exist when comparability of asset conditions cannot be made within an agency and with other agencies. Suggest how these problems may be minimized
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