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Prepare the necessary adjusting entry a three year fire insurance policy was purchased on July 1,2016 for $12,000.The company debited insurance expense for the entire amount.
Compute the number of units in the ending inventory and calculate the cost of a unit assuming use of
The cash account of Grande Home Improvement Store shows the following: a debit on June 1 for $25,000; a credit on June 5 for $10,000, a debit on June 16 for $14,000, and a credit on June 27 for $8,000. What is the balance in the cash account at the e..
Pratt Corp. started accounting period with $31,000 of assets, 12,500 of liabilities, and $16,000 retained earnings. During the period, the Retained Earnings account increased by $16,550. The bookkeeper reported that Pratt paid cash expenses of $31,50..
Hall Company had sales in 2014 of $1,812,500 on 62,500 units. Variable costs totaled $875,000, and fixed costs totaled $402,600. A new raw material is available that will decrease the variable costs per unit by 29% (or $4.06). However, to process the..
A company has notes receivable, classified as noncurrent that has a fair value of $920,000 at 12/31/14 and an acquisition cost of $710,000. Management decided at the acquisition date, to use the fair value option for this recently-acquired receivable..
problemquality improvement relevant costs and relevant revenues. the tan corporation uses multicolor molding to make
Danielson Inc., sells two types of caviar. Both are widely recognized as quality products throughout its worldwide distribution system, but from time to time the actual mix of the product shifts as tastes change. If Danielson uses the package approac..
What is the amount of unrestricted Cash and Investments and what is the amount restricted Cash and Investments
Prepare the June bank reconciliation for the Savvy Company. Prepare the general journal entries to bring the company's book balance of cash into conformity with the reconciled balance as of June 30
The company's management is working on preparing the Management Discussion and Analysis (MD&A) for the report.
Production in 2012 for California Manufacturing, a producer of high-security bank vaults, was at its highest point in the month of June when 47 units were produced at a total cost of $550,000. The lowest point in production was in January when only 2..
There are two kinds of plastic bins; regular and large. The machinery can only run for 3500 hours per period. 9 large bins per hour and 17 regular bins per hour can be produced in the same amount of time. Fixed costs are $130,000 per period. The sale..
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