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Prior to GAAP for equity method investments, firms often used the cost method to account for their unconsolidated investments in common stock regardless of the presence of significant influence. The cost method employed the cash basis of income recognition. When the investee declared a dividend, the investor recorded "dividend income." The investment account typically remained at its original cost - hence the term cost method. Many firms' compensation plans reward managers based on reported annual income. How might the cost method of accounting for significant investments have resulted in unintended wealth transfers from owners to managers? Do the equity or fair-value methods provide similar incentives? Explain.
Explain any opportunity, sunk, out-of-pocket, and/or relevant costs that figured in Rosley's decision. How did Rosley compute the $400 per month savings?
The five managerial characteristics needed by administrators are technical competence, resource management, communication, leadership and innovation.
After reviewing its cost structure (variable costs of £7.50 per unit and monthly fixed costs of £60,000) and its potential market, the Forecast Company established what it considered to be a reasonable selling price.
What must happen in order for the company to succeed, what are the company's most vulnerable areas and identify the company's assets
Compute the company's break-even point in number of wide-body passenger jets and in dollars of sales. Suppose the company plans to sell 99 wide-body passenger jets in 2012. Compute the company's projected operating profit.
An examination of the accounting records of a fictitious business, the Clowney Company, disclosed a high contribution margin ratio and production at a level below maximum capacity.
Prepare the journal entry to transfer the cost of job #JK150 out of the work-in-process account at the end of November, What was the under-or over recovered overhead for the year?
Preparation of a Schedule of Cost of Goods Manufactured and Cost of Goods Sold for last years accounts.Explain why some items have been excluded from the Schedules.
Why is it important to investigate both price (rate) and volume (efficiency) variances when rewarding employees for satisfactory work when performance evaluations are based on meeting budgets?
Describe how the high-low method of cost estimation can be used in estimating the fixed cost component of a mixed cost in a business.
calculate the company's predetermined overhead application rate and calculate the additions to the work-in-process inventory account for the direct material used, direct labor, and manufacturing overhead.
The DiCiolla Co has sales of $12 million, CGS of $9 MM, and has $2.5 MM of inventory. Receivables are $750,000, payables are $666,667 and the company pays its payables in 30 days.
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