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Which of the following is the least praticial reason for allocating service department costs to user departments?
A. To ascertain profitability of user departments.
B. To evaluate performance of managers and divisions.
C. To make user departments aware that services are costly.
D. To provide the best possible service to users.
Jacob is an employee and used the computer 100% of the time in his employment. Although his homeowners insurance policy paid Jacob $7,000 for the stolen computer, Jacobs employer did not reimburse Jacob for any of the remainder of his loses. Jacob..
Cameron Bly is a sales manager for an automobile dealership-Does the warranty accrual decision create any ethical dilemma for Bly? Since warranty expenses vary, what percent do you think Bly should choose for the current year? Justify your response.
In 2010 Down sold $100,000 merchandise to Up at gross margin of 40%. Up's Ending inventory balance at the end of 2010 is $25,000. Prepare the journal entries for 2009 and 2010 to eliminate and adjust for the intercompany transaction.
On February 2, 2011, it was determined that the patent's useful life would expire at the end of 2013. How much would Lexicon record as amortization expense for this patent for the year ending December 31, 2011?
What happens to the fundamental accounting equation when the sole proprietor of a business invests more cash in it
Jack and Jill Company produces two products, X and Y. X sells for $10/unit and Y sells for $20/unit. The products have a variable cost of $9 for X and $14 for Y. Last year the company sold 10,000 units of X and 40,000 units of Y. Fixed costs are a..
Samson Wholesale Beverage Company regularly factors its accounts receivable with the Milpitas Finance Company. On April 30, 2011, the company transferred $800,000 of accounts receivable to Milpitas.
Kristen's AGI is $120,000 before considering effect of rental activity. What is Kristen's AGI after considering the tax effect of rental use of her home?
At the end of the year, 20% of the goods were still in X-Beams' inventory. Kent's reported net income was $300,000. What was the noncontrolling interest in Kent's net income?
Proposals L and K each cost $500,000, have 6-year lives, and have expected total cash flows of $720,000. Proposal L is expected to provide equal annual net cash flows of $120,000, while the net cash flows for Proposal K are as follows:
Bliny Corporation makes a product with the following standard costs for direct material and direct labor: Prepare material and labor journal entries
On this date, the company concludes that the equipment has a remaining useful life of only 5 years with the same salvage value. Compute the revised annual depreciation.
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